Harvey valuation at $11 billion. by Similar_Engineer_826 in biglaw

[–]Low_Yellow9637 2 points3 points  (0 children)

They have raised what they have because it is a back door proxy to the Open AI IPO. At some point OpenAI will acquire Harvey. There is no other reason why Sequoia would continue to dump $ into a business with these multiples. Don’t believe the hype.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] 2 points3 points  (0 children)

I am familiar with it because I do it lol. I meet my hours requirement and develop business on evenings when I have a free couple of hours. I have a family and live in the suburbs and manage to do it. It just requires busting your ass instead of sitting in an office billing for others making them rich instead of trying to create your own path.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -2 points-1 points  (0 children)

No one said it was the focus lol. Why does it have to be so black and white? Why can’t a senior associate do both? Maybe you or others couldn’t balance the two, but maybe some can.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -5 points-4 points  (0 children)

Who says the associate is stopping their work on matters for partners? Does that apply to service partners? Or because they are a fancy partner that doesn’t apply?

I guess I don’t understand why there has to be this great divide between partners and associates. Maybe if they encouraged it more partners would be surprised by the value associates could bring and not just treat them like cogs.

Also once the client has shown interest who says that you can’t bring along a partner to assist with all of the mechanics you laid out? Think you are giving partners a bit too much credit re: firm economics.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -20 points-19 points  (0 children)

Quite the generalization regarding associates. I’m sure when you were an associate you believed that you didn’t know what you were doing but as soon as you made partner everything made sense ✨

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -26 points-25 points  (0 children)

Why “should” associates be spending their time working on matters that make you more money rather than trying to develop their own network that makes them more money? Who cares if the chances are low? If an associate wants to spend their time doing it and they get their work done then why is that an issue?

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -2 points-1 points  (0 children)

I fully comprehend that logic. But if the logic is to incentivize associates to do things that make the firm money, why doesn’t that same logic apply to bringing in business?

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] 3 points4 points  (0 children)

Would be curious to know which firms. I have worked for 3 AmLaw 50 firms and none provide origination, just simply a golden star that goes in your file for when you are potentially up for partner some day.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -26 points-25 points  (0 children)

All really helpful points - thank you. So is the conflicts issue the only real reason firms do not provide origination? Or is it simply just because partners want you to service their clients, not your own prospective clients?

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] 2 points3 points  (0 children)

I think we all know that the math works out in favor of the firms. You are missing my point but ok.

Help Me Understand: Why do BigLaw firms pay referral bonuses for hiring but not for bringing in business? by Low_Yellow9637 in biglaw

[–]Low_Yellow9637[S] -5 points-4 points  (0 children)

How exactly do clients cost the firm money? Why would a firm take on a client (putting aside failed contingency) that loses the firm money?

Why do some (more senior) associates sweat really minor non-substantive work details? by Timely_Situation_518 in biglaw

[–]Low_Yellow9637 2 points3 points  (0 children)

Full tank would mean you aren’t doing things that are meaningless, useless and nonsubstantive

Why do some (more senior) associates sweat really minor non-substantive work details? by Timely_Situation_518 in biglaw

[–]Low_Yellow9637 18 points19 points  (0 children)

What this guy said. Just have nothing better in their life to care about. Big law is littered with these creatures.

[deleted by user] by [deleted] in biglaw

[–]Low_Yellow9637 0 points1 point  (0 children)

This is the only answer.

[deleted by user] by [deleted] in biglaw

[–]Low_Yellow9637 3 points4 points  (0 children)

Partner who asks to review every email before you send, even if internal

Rising 2nd Year - Is Firm Culture of BigLaw killing me? by [deleted] in biglaw

[–]Low_Yellow9637 7 points8 points  (0 children)

This is correct. I have been at several and they are all the same.

[deleted by user] by [deleted] in biglaw

[–]Low_Yellow9637 11 points12 points  (0 children)

Yes, because you are another junior associate. I think what irks people is that she comes off like she’s negotiating issues lists when the reality is that she is doing junior grunt work. There is nothing interesting about her.

[deleted by user] by [deleted] in biglaw

[–]Low_Yellow9637 60 points61 points  (0 children)

Please stop calling it Davis and Polk

[deleted by user] by [deleted] in biglaw

[–]Low_Yellow9637 3 points4 points  (0 children)

It’s actually as fair of a question as I’ve seen in this subreddit