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NYCLawyer

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NYCLawyer last won the day on June 3

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  1. Do lawyers ever have really "grand" offices?

    Fair point. But if Goodfellas taught me anything it’s that there are well heeled prisoners with better setups that well heeled biglawyers.
  2. Do lawyers ever have really "grand" offices?

    I was surprised by how not grand the partner offices in New York biglaw firms are. Very, very ordinary.
  3. 1L Grades Feedback For NY

    You may want to put on a raincoat — Diplock’s head is about to explode.
  4. 1L Grades Feedback For NY

    Having lived for more than five years in both New York and Toronto, I think you’d find that the transient population is far higher in NY than Toronto. My experience is similar to providence’s, which is that Canada has more of an old boys network than in the US. Legacies are something like 3% of admits to ivies, and those legacies still have to be within striking distance based on the GPAs and SATs. Canada has no need for legacy admits because there isn’t really any competition to get into Canadian colleges — I think the tightest acceptance rate is >40%, so there’s no need to appeal to legacy status to get accepted. Similarly, you don’t have affirmative action much in Canada — again because everybody gets in anyway. It rankles Canadians to say this — because of their largely false belief that Canada is more “egalitarian — but it’s far better to be a poor person applying to Harvard than McGill. All of the ivies are tuition free for low income people.
  5. 1L Grades Feedback For NY

    Having an immigrant population is not what he means by transient. NY is very different from Toronto and anywhere else in North America with respect to the number of post college/professional school grads who come here and work and then are gone within 3-4 years. It’s a huge portion of the population here.
  6. 1L Grades Feedback For NY

    Endorsing what hoju has already said.
  7. Bay Street Bonuses

    Fair enough. I guess from my perspective not being in the top 20 or so partners doesn’t put you on the “low side” but maybe this is semantics. In any event I would not have guessed people are making 300k+ off legal aid files.
  8. Partner Compensation in Canada vs US?

    Nope, it is not based on PPP.
  9. Partner Compensation in Canada vs US?

    Yeah but I mean the sisters are still broadly Canada’s most reputable firms for corporate transactions plus or minus a few other firms - which was also the case in 2001. So the whole complaint is basically “I work at BLG [or similar] and I think my firm is just as good at securities offerings as Goodmans and I’m mad nobody calls my firm a sister.” And it may well be true that BLG is better at securities offerings than Goodmans, I have no idea. But who cares? People are gonna research practice area strengths anyway. It’s not causing some vast misunderstanding of the legal market any more than referring to the v10 does. Everybody knows Paul Weiss is better for litigation than Latham even though the latter is higher in Vault this year. And nobody thinks Lenczner isn’t a better firm for litigation than most (all?) sisters. I’ve never heard anyone from Lenczner whine about that or anybody go to Stikes over Lenczner for lit because Stikes is a sister.
  10. Partner Compensation in Canada vs US?

    I agree that’s true in general, which is why it’s so weird that people around here ar me so much more obsessed with the “sisters” than anyone in the US is over which firms are top 10 firms this year.
  11. Partner Compensation in Canada vs US?

    I don’t really understand what you mean by the denominator. The Vault list comes out every year - it’s based on a prestige survey of law firm associates, so there’s no agreed criteria and I don’t think anyone takes it as some gospel. I doubt, for example, that many people are picking Paul Weiss over Cleary for corporate work simply because Cleary has fallen (apparently) out of the top 10 firms on this year’s list. Nor is Cleary shrieking about how they should be ranked higher than Paul Weiss by some metric. Nor does anyone think Cravath is on similar footing to Gibson Dunn simply because they’re both “top 10” firms. Basically people are able to use the term as a rough moniker for top firms without fussing about whether there should be 7 or 10 or 3 “sisters” like people do around here.
  12. Partner Compensation in Canada vs US?

    The “updates” don’t matter though. When people say v10 they just mean roughly the top 10 firms. And the criteria are not agreed or “right” in the US either. For some reason people get all butthurt about “sisters” in a way that nobody cares about v10.
  13. Partner Compensation in Canada vs US?

    Yeah that’s about what I would’ve guessed. I don’t understand why people get so upset about “sisters.” It’s kind of shorthand for the top firms. People in the US will talk about the vault 10, even though this is a somewhat liquid group of firms. When I was applying Weil and Cleary were in. Now it seems Paul Weiss and Kirkland are. Who cares? People get that you’re referring to the general grouping of the top 10 or so firms. Nobody is like “go find me a lateral from a top 10 firm” and then says “wtf why did you bring me this Cleary resume??”
  14. Partner Compensation in Canada vs US?

    Kirkland’s rainmakers are making well over $5million. I think its profits per equity partner as an average are approaching 5. Note that most “partners” at Kirkland are not equity partners but just a fancy name for 7th year associate. If all you care about is money you should definitely go to the US. Even if your odds of making equity partner at Kirkland are lower you can always move to a smaller firm no one’s ever heard of with profits per partner higher than the sisters. I would be a little surprised if even the sisters have PPP over a million Canadian (although individual partners would make more). Maybe Davies is.
  15. Bay Street Bonuses

    It’s often announced publicly too: https://www.mccarthy.ca/en/about/news-and-announcements/mccarthy-tetrault-proud-announce-its-2018-new-partners
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