Home

Cravath Confirms: No Partners to be Named in 2009
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Making partner at a big New York firm has been a possibility for only the shining stars of the legal profession. In this recession, however, the chances of becoming partner have quickly gone from bad to worse. At many prominent firms, the number of new partners has significantly dropped: four at Cleary Gottlieb Steen & Hamilton (six in 2008); two at Wachtell, Lipton, Rosen & Katz (six in 2008); two at Debevoise & Plimpton (six in 2008); and three at Weil, Gotshal & Manges (seven in 2008). Finally, and by far the most dismal of all: Cravath, Swaine & Moore has just announced that it will not be making any new partners this year.

While Cravath has always carried the reputation of being hard to break into partnership, there has yet to be a year where not one associate has made partner. There have been rumors that the firm was hit harder than other firms during the economic crisis, as Cravath did suffer a 24 percent drop in its profits per partner for 2008.

Cravath’s deputy presiding partner, Allen Parker, denies that this decision has been influenced by the economic crisis, but rather attributes it to the fact that no one has met the firm’s standards. There are reports that only a handful of attorneys from the class of 2002 are left with the firm and that the superstars all got out several years ago.

  
What
Where




 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-Level Commercial Business Litigator

USA-CA-Los Angeles

Los Angeles office is seeking a commercial business litigation attorney with 2-5 years of experience...

Apply Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney

USA-CT-Stamford

Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Experienced Estate Planning Attorney

USA-CA-Torrance

Torrance office is seeking an estate planning attorney with 7-10 years of experience.

Apply Now

RELEVANT JOBS

Associate Attorney

USA-CA-Sacramento

A civil plaintiff’s law firm is hiring for an associate attorney, preferably with strong resea...

Apply now

Associate Attorney

USA-TX-Sugar Land

Insurance Defense firm seeks an Associate Attorney with a MINIMUM of 3-5 years\' experience in litig...

Apply now

Associate Attorney

USA-TX-San Antonio

One of Texas\'s largest Personal Injury Law firm seeks a highly motivated associate attorney with 3-...

Apply now

Associate Attorney

USA-TX-Dallas

One of Texas\'s largest Personal Injury Law firm seeks a highly motivated associate attorney with 3-...

Apply now

SEARCH IN ARCHIVE

To Top