Hi Andrei, that's really helpful! I know this is not my question but I would like to know how is this information and statistics ( revenue per lawyer, department headcount, etc) helpful for application? Or how can i link these information to me personally if I want to use these stats?Unfortunately such specific information is not usually available in the public domain. The only sources I found it on were Law.com and The Lawyer, and both are only accessible with an organisational subscription - you should check if your university has one if you are a student.
This type of information can be useful for a variety of purposes in terms of assessing a firm's general business prospects, the quality of its practice and work, and the kind of work and responsibilities you may have at the firm.
- Hi Andrei, that's really helpful! I know this is not my question but I would like to know how is this information and statistics ( revenue per lawyer, department headcount, etc) helpful for application? Or how can i link these information to me personally if I want to use these stats?
I see! Thanks for your explanation, that's really helpful! I never really look from this angle before. Could you also share some other similar examples that would help me to assess a firm's business prospects and it's quality of practice? Anything I can look up to besides than RPL and department headcount?This type of information can be useful for a variety of purposes in terms of assessing a firm's general business prospects, the quality of its practice and work, and the kind of work and responsibilities you may have at the firm.
To take revenue per lawyer (RPL) firstly: this is seen by Law.com (a leading legal press outlet) as the strongest indicator of a firm's financial health, as it cannot be "gamed" to the same extent as other metrics such as PEP (where firms can restrict equity ranks to boost the headline figure). The reason is that that seeing how much a firm's lawyer generates in income is an indicator of both:
For department headcount, I would say the main points of relevance are
- How in demand the firm is in terms of the number of mandates it works on: to have a high RPL, almost all of the firm's lawyers will have to be kept reasonably busy throughout the year (as the lawyers that are not busy do not generate significant income and thus bring down the average RPL).
- How in demand the firm is in terms of the quality of mandates it works on: to have a high RPL, a firm needs to bill clients high fees for the time their lawyers work on a matter. While RPL can be boosted by keeping lawyers very busy on a high-volume approach, as suggested above, there is a limit to this: at the high-end of commercial law, targets for billable hours converge around 2000 per year. While at some firms (such as Kirkland & Ellis) partners are known to ask associates to go beyond this and hit 2100-2300 at times, it is very rare for people to go beyond this, simply because there is a limit as to how much one can work in a year without burning out. Thus, there is a limit as to how much RPL can be boosted by increasing workload, and this is where the second factor of the equation - billing rates - comes into play (you can helpfully think of RPL as equaling average time spent billing in a year times the billing rates). The more prestigious a firm is, and the more in demand its practitioners, the higher will the firm be able to bill its clients. Normally, clients will only accept the high fees asked by firms like Davis Polk on high-value and highly-complex matters where their expertise is necessary; which means that a high RPL is indicative of a high-quality of mandates you may get to work on.
- To see how the firm positions itself in the market - i.e. is it more of a boutique or a big shop in that practice area specifically (rather than in general as a firm);
- To see how much in focus a practice area is in a firm (this is where you would look at comparative headcount between departments); and
- To see if a firm punches above/bellow its "weight class": if a firm has comparatively fewer people in a department but still achieves the same rankings and works on the same types of matters as larger rivals, it is an indicator of a higher quality/more efficient practice in that it achieves the same results with a lower input. Furthermore, it is arguably indicative of a higher-quality of practitioners, as lawyers at this smaller department will need to juggle the responsibilities normally shared by many more people at a larger shop.
i have mine for the WVS in a few weeks, I’ll lyk how it goes!Jones Day spring scheme VI ! Any insights massively appreciated
I know Forage is not proper work experience and that you would be hesitant to add it to the work experience section - but if the Forage Work Exp was a programme made by that firm, I would certainly include it in the work exp section (if there is nowhere more appropriate). After all, the reason we have done it is to show interest in that firm!Hi everyone,
With the qualifier "Is this law-related work experience?", do we feel this only covers experience specifically within a law firm? I'm a career changer, and have client-side legal experience from dealing with matters, and have also worked in legal recruitment.
In addition, where do people mention Forage? I'm currently in a job and didn't really feel it fits under "work experience", but often there is no logical space to add it, unless it specifically asks if you completed one of our Forage tasks.
Thanks!
I have 70% too, and I presume it just means you've done the application & tests, and now it's with them to look atHi, does anyone know what 70% on hold for Linklaters means, and has anyone progressed from 70%?
I got a WG invite from Bird & Bird on the 26thAnybody heard back from Reed smith, Bird & Bird or HL lift off post application?
Congratulations! can I ask when you applied?I cant believe it, I’ve got an email with an invitation to A&O Shearman’s AC for the WVS!! Best of luck to anyone who hasn’t heard back and I’d really appreciate any advice for case studies, scenario based interviews and esp A&O Shearman’s AC as I’ve heard it’s very hard🥺
Hello!Hi everyone,
With the qualifier "Is this law-related work experience?", do we feel this only covers experience specifically within a law firm? I'm a career changer, and have client-side legal experience from dealing with matters, and have also worked in legal recruitment.
In addition, where do people mention Forage? I'm currently in a job and didn't really feel it fits under "work experience", but often there is no logical space to add it, unless it specifically asks if you completed one of our Forage tasks.
Thanks!
Hi, I have to disagree with the other member that said they are not proper work experience. During events and fairs I have spoken to multiple firms’ recruiters (S&M, HL, Linklaters, A&O to name a few) and asked them about Forage.Hi everyone,
With the qualifier "Is this law-related work experience?", do we feel this only covers experience specifically within a law firm? I'm a career changer, and have client-side legal experience from dealing with matters, and have also worked in legal recruitment.
In addition, where do people mention Forage? I'm currently in a job and didn't really feel it fits under "work experience", but often there is no logical space to add it, unless it specifically asks if you completed one of our Forage tasks.
Thanks!
Hey!any advice for technical case studies?