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History Founded in 1902, Chadbourne & Parke historically relied on a few bedrock clients for its bread and butter: American Brands, the Rockwell International Corporation, Sperry Corporation, Trans World Airlines, and Anaconda Minerals. (It's worth noting that Chadbourne's intimate relationship with Big Tobacco began early on. In 1932, Chadbourne partner Louis S. Levy was disbarred for procuring a $250,000 loan for Second Circuit Judge Martin T. Manton in 1932. Manton drafted the majority opinion in favor of the American Tobacco Company at about the same time as the suspicious loan. (American Tobacco, at the time, was owned by Chadbourne client American Brands.) For most of its history, Chadbourne was mostly known for catering to the needs of its corporate clients and staying out of the limelight. But in the early 1980s, sleepy Chadbourne found itself at a crossroads. Most of Chadbourne's institutional client base was crumbling; the Sperry Corporation, Trans World Airlines, and Anaconda Minerals either folded, were acquired, or faced major problems. The firm needed help fast, and found it in the fightin' form of Rigdon Boykin. In 1980, Boykin joined the firm, then known as Chadbourne, Park, Whiteside & Wolff, as a senior associate. Boykin, the brash South Carolinian, immediately got Chadbourne interested in representing private energy projects. As a partner, he built Chadbourne into an industry leader in project finance. (Insiders describe the firm's prestige in project finance as "top of the top.") Boykin also led the campaign to reform Chadbourne's management, replacing its ineffective 12-member executive committee with a sleeker five-member crew. Boykin also influenced the revamping of the partner compensation system, introducing more incentives for performance. Product liability maestro Chadbourne represents more than just Brown & Williamson when it comes to tobacco companies. Other tobacco clients include British American Tobacco Investments, a cigarette manufacturer with litigation pending in the United States and abroad, and Gallaher Ltd., the largest English manufacturer of cigarettes. But Chadbourne's expertise with product liability doesn't stop with tobacco. The firm offers expertise in the distilled spirits industry, and won a verdict for Jim Beam Brands in the first "fetal alcohol syndrome" case ever brought to trial. Chadbourne even touts its defense of a nuclear bomb manufacturer in litigation involving the claims of 2,500 residents of the Marshall Islands stemming from the test of the first hydrogen bomb in 1954. Russian Roulette Chadbourne has sizeable Washington, DC and Los Angeles offices along with its New York headquarters. Internationally, the firm maintains offices in Hong Kong, London (which is actually a multi-national partnership called Chadbourne & Parke), Moscow, and has affiliations with firms in Australia, Belarus, Kazakhstan, and Japan. Chadbourne prides itself on being "an international law firm." The firm's largest office outside the United States is in Moscow, where Chadbourne was one of the first foreign law firms to set up an office. Chadbourne represented the first Russian company to be listed on the New York Stock Exchange, and has represented the Swiss food company Nestl? in a series of acquisitions in Russia. The firm also has an office in Almaty, the capital of the Republic of Kazakhstan, and an exclusive relationship with Kazakstan's top law firm known as Zanger. Moreover, the firm has an office in Minsk, the capital of the Republic of Belarus, along with an exclusive alliance with Belarus' top law firm, Borovtsov & Salei. Although the firm has no official offices there, Chadbourne & Parke is extensively engaged in Latin America, especially in the areas of project finance, power generation, privatization, capital markets, and mergers and acquisitions. The Latin American Group at the firm is based at the firm's New York headquarters. Consolidating internationally However, life in the global village hasn't been exactly easy for the firm. Trouble first appeared in 1997, as the Asian economic meltdown took its toll on business. At the time, the firm shrugged off its concerns. Firm spokesman Jerome Katz told The American Lawyer: "[Losing money] isn't surprising for relatively new offices, especially for Singapore, which only opened in 1997." But by fall 1998, with Russia's economy threatening to collapse, the firm took further steps to consolidate its international position. First, it closed its Singapore office, consolidating its Asian practice into the Hong Kong branch and bolstering its bankruptcy practice in the area. Next, the firm made several moves to shore up its battered London offices. By May 1998, Chadbourne had lost three of its U.K. lawyers to defections. To dispel rumors that U.S. partners had turned their backs on the U.K. outpost, Chadbourne in September 1998 transferred capital markets partner William Greason and project finance counsel Lynne Gedanken across the Atlantic.
Concentrated hiring "There is a real push in hiring, as we are very busy," reports one Chadbourne insider. At the same time, the firm is attempting to push up its criteria for hiring law students with respect to the candidates' schools. In a move that has created a storm of controversy within the firm, C&P has decided to concentrate its recruiting efforts almost totally on the prestigious national law schools, as well as New York law schools. Reports one corporate associate in New York: "There has certainly been a push to recruit at only top-tier law schools - for better or worse." Reports another associate: "The firm only visits top campuses. There are some exceptions in hiring from other schools, but the trend is toward being more 'elite.'" The usual rigamarole The entry-level hiring process at Chadbourne starts with an on-campus interview that lasts from 15 to 30 minutes, with either a partner or a senior associate. The interviewer will then issue a recommendation to the hiring committee, which has the final say on callbacks. If Chadbourne is interested, the firm will invite candidates for callbacks at the firm's offices within a week. The firm has three sessions for the callback interview: morning, afternoon, and night (6 to 8 p.m.). At Chadbourne's New York offices, you are met by the recruiting coordinator, who meets with you for about 10 minutes. The recruiting person will give you the names and order of the attorneys that will interview you, and tell you whether each is an associate or a partner. There will be four to six interviews, divided equally between partners and associates, each lasting from 20 to 30 minutes. Quick lateral hiring The interview process for lateral hires tend "to happen fast," say insiders. Generally, the first screening interview is with a partner in the department, and may also include "a chat" with an associate in the department. If all goes well, the firm will typically call back the candidate within a week. On the callback interview, the lateral applicant will meet with a head of the department for 15 to 30 minutes. Lateral offers (or rejections) are typically made within the week. Chadbourne is in such a hiring frenzy that it now offers its associates a $10,000 bounty for bringing new associates to the firm.
Culture: free, not easy Our Chadbourne insiders' comments reveal that the firm values independence. One tells us that "individualism is appreciated," adding: "we enjoy a lot of freedom." Another describes Chadbourne as "a New York-based law firm with an independent-minded Washington office, and in which the project finance group adds a great deal to the personality of the firm." For a contact in New York, Chadbourne breaks down into "fairly autonomous 'groups' that act as a supportive network for the firm." The same contact explains that at Chadbourne, "there is a lot of room for growth here and a lot of autonomy given to associates. It doesn't get any better than this from my view. So if this wouldn't be good enough, get out of the practice of law." Freedom, however, doesn't mean free and easy. In fact, our contacts describe a conservative, and at times difficult culture. "Conservative but friendly," qualifies one L.A. associate. A New Yorker characterizes the firm as "just as stuffy as any other firm." Those considering Chadbourne should also know that insiders describe the firm as somewhat fragmented among the partnership. Says one associate in New York of the partners: "They're internally competitive, and they would rather hire car salesmen than good lawyers." Another New York associate characterizes the firm's culture as being "like the mob - if you're a good earner for the right capo, you're OK." Some complaints about pay in NY, better elsewhere Chadbourne insiders are begrudgingly satisfied with their earnings. "The salary is low," says one New Yorker, "but the hours aren't bad." Another adds: "I'm happy, but we need to stay competitive to attract and retain associates. Says an associate in New York: "The firm is not a leader. Each year, it waits to see what other top firms do." Bonuses don't seem to help much. After their first year, associates receive their bonus based on merit. "That translates mostly to billables," an insider says, "although the quality of work counts for something too." "Don't count on those bonuses," warns one New York associate. Another insider adds: "To get your full bonus, you will need to bill 2,000 hours." "If you want your bonus," says one associate, "when it gets busy, you have to work like a dog. It's referred to around here as 'doing 2,000 the hard way.'" Sums up one New York associate: "Compensation lags behind the market significantly when you consider that the bonus is not deferred compensation." Despite the New York malaise, comments from the Washington office are considerably more positive. "I can't complain," chirps one. Another reports that the "Washington office pays New York salary and that is awesome." Hours: Decent for New York Chadbourne associates don't seem to suffer as badly as other attorneys in New York in the hours department. Our contacts regularly report workweeks ranging from 40 to 50 hours a week. "Not too bad for a big NYC firm," notes one. Another says: "it varies, but the work load in general is quite livable. Naturally, there are pockets of grueling work." A DC contact tells us that the "workload varies depending on stage of project you're working on - during closings can be very demanding." Another picks up on the variety of hours: "Of course it's variable - but even without a 'billable hours requirement,' everyone knows your bonus depends on how much you bill." The same contact warns: "Pro bono counts for nothing - you'd better not do too much of it, in fact, or it will get back to you." However, says that insider: "If you can deal with your hours fluctuating from 150 to 350 per month at the drop of a hat, you'll have no problem here."
Bernadette L. Miles Director of Legal Recruiting (212) 408-5338
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