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Davis Polk & Wardwell is not only one of the most prestigious law firms in the world - it is also one of the nicest. Davis is evenhanded in its success. The firm brings in record revenues with a rock-solid securities practice and possesses an equally reputable litigation department that's renowned for its white collar defense work. The distinguished Davis Polk Davis Polk's origins date back to 1849, making it one of the oldest law firms in the United States. How would you like to work for the firm of Bangs & Stetson? Davis Polk's lawyers opted for a different set of names for the firm from those of its original founders, and today Davis Polk & Wardwell is one of the most prestigious and most successful law firms in the world, with offices in New York, Washington, DC, Menlo Park, London, Paris, Frankfurt, Tokyo, and Hong Kong. Francis Bangs was a litigator who made his name opposing William Tweed and his ring of corrupt lawyers, judges, and other sinister hirelings. Bangs was succeeded by his partner Francis Stetson, who had abandoned the field of litigation to cash in on the growing importance of corporate work. In 1887 J. Pierpont Morgan selected Stetson to be chief counsel for his banking business. The crafty Stetson soon proved his worth, stringing together several newfangled electrical companies for Morgan to create an entity called "General Electric." Stetson's firm also worked around the clock to create corporate structures for huge corporations like U.S. Steel, International Paper, and ITT. New offices, new faces Davis Polk is part of the new California firm rush, opening an office in Menlo Park. To get the new outpost off on the right foot, Davis Polk hired top technology lawyers Frank Currie and Bill Kelly. In exchange for jumping ship to Davis Polk, the firm promised Currie it would eventually send him to one of its international offices. The defection ended Currie's 14-year tenure with Wilson Sonsini, while Kelly left his post as senior vice president at Silicon Graphics. The new office is also staffed by Sally Brammell, who is returning to Davis Polk after spending six years at Pillsbury Madison & Sutro, as well as three other Davis Polk partners. Earning bucks from Davis Polk On January 31, 2000, Davis Polk became the first New York firm to match the Silicon Valley salary raises, agreeing to start its first year associates at $125,000. In case you're looking for further financial rewards, the firm offers another way to make a little extra money: get hitched. When Davis Polk associates marry each other, each receives a gift from the firm. Oh-so-techie Davis Polk has kept ahead of the technology curve, maintaining a company intranet for the past five years. The system keeps lawyers up to date on regulatory changes, news about practice areas, and clients. The intranet also eases previously time-consuming data searches. Davis Polk has devoted a lot of attention to its office services - The New York Law Journal reports that even competitors want to follow the example of DPW director of professional services and systems Michael Mills. In addition, the firm has put a few of its attorneys into full-time practice resource positions. These lawyers forgo billables to provide standard forms and other services for various transactions. Big IPOs and beastie mergers "You couldn't do any better for finance, securities and transactional work," insiders opine. Indeed, many regard Davis Polk's securities as the finest in the country. In a year known for IPOs, Davis Polk worked on $5 billion of offerings, putting it at the top of The National Law Journal's 1999 IPO list. That year, the firm advised Morgan Stanley, the underwriter for UPS's offering, the largest American IPO at the time. The firm continues to take part in headline-grabbing mergers. Davis Polk scored a bit of a coup in the M&A world by representing Network Solutions when VeriSign acquired the assignor of Internet domain names. Network Solutions skipped over Pillsbury Madison & Sutro, its longtime corporate counsel, for help on the deal. DPW also took part in the creation of the largest railroad in North America by representing Canadian National Railway Company in its $6 billion merger with Burlington Northern Santa Fe Corp. The new railway company encompassed 50,000 miles of track reaching from Nova Scotia to Los Angeles and the Gulf of Mexico. Award-winning pro bono Davis Polk has long demonstrated a dedication to pro bono work. Recently the firm sponsored a fellow at the Lawyers Alliance for New York to spearhead the Public School Reform Project. The fellow will help provide legal services to educational reform organizations striving to improve schools in low-income communities. In October 1999, the Minority Corporate Counsel Association honored Davis Polk for its efforts to increase diversity in the profession. Additionally, Columbia University awarded Davis Polk a prize for social responsibility for its pro bono work in the area of political asylum law.
The ordinary need not apply One source says the door to Davis Polk is closed to candidates who are not from the nation's top law schools, "unless you have something outstanding in your background, such as your undergraduate school or work experience." Although stellar credentials may get you past the on-campus interview, insiders say that getting good grades at a prestigious law school does not guarantee a job at Davis Polk. "Grades only get you in the door. Personality gets you the job." Other insiders imply that Davis Polk has a taste for "blue blood" and "prefers people from Harvard and Yale." More than 20 different law schools were represented in the 2000 summer class, however. After candidates are called back to headquarters to interview, "grades aren't as important, though they still matter." Prospective Davis Polk attorneys have four or five interviews in the second round - two with partners and two or three with associates. Many candidates also have lunch with two junior associates. Insiders report that after each interview or meeting, the interviewers fill out an evaluation sheet, assessing the candidate on "analytical and communications skills" and "deciding whether they would like to work with that person." Some associates also told Vault.com that Davis Polk will take into account a candidate's language skills and willingness to work in foreign offices. The hiring committee meets weekly to make its decisions. Those who are hired normally get a call shortly after the day of the meeting from a partner, though some associates point out that "if they're missing a few evaluation sheets or the meeting is delayed for some reason, they can skip a week." After an offer is made, one of the associates follows up with phone calls "to help sell the firm." One insider muses, "At some New York firms, getting the 'flyback' is tantamount to receiving a summer offer. Davis Polk, on the other hand, relies more heavily on the flyback interviews and regularly rejects people after a full round of interviews at the firm. Those found haughty or conceited often get harshly reviewed and fail to receive summer offers."
An early lead in the salary race In February 2000, Davis Polk raised first-year salaries to $125,000. Associates were excited not only by the raise itself but also by Davis Polk's decision to be one of the first New York firms to offer the increase. Says one corporate associate, "DPW surprised us by leading the last salary charge. It gave the associates here a new feeling that the partners were watching out for us. They bought themselves some new loyalty." Associates also compliment the firm on not tying salaries to billable hours. Some of the more senior associates are not quite as impressed. "The first-year associates were bumped up to $125K, but the mid-level associates received comparatively meager raises," reports one. Many lawyers are also waiting to see their bonus at the end of 2000 before they start celebrating, "We are hoping for $20,000, but $10,000-$15,000 wouldn't cause a revolt." "No screaming, no insults, no hugs" Davis Polk lawyers describe the partners as "very nice and cordial, but you don't forget who is boss." "Although the atmosphere at Davis Polk is extremely civil and polite, it can be rather impersonal," comments one insider. Another common sentiment rings, "They don't shout and scream, but they don't invite you out for drinks or dinner or take an interest in your career or personal life." Although there are a few associates who feel they are treated as "cannon fodder," many Davis Polk lawyers find their bosses to be good mentors. "Some of them very clearly put an emphasis on teaching young associates." Another adds that "the partners will typically bend over backwards to make sure that associates get to take their vacations." Relaxed white shoes Associates say the DPW culture is "reserved" and "traditional." "We are no doubt a white shoe law firm," explains one associate, "but we are as relaxed as such a firm can possibly be." Adds another, "Good judgment and plain old courtesy are prized qualities." Some insiders describe a "middle-of-the-road" culture. Associates note, "Fierce passions about almost anything or quirkiness are generally discouraged." "People are smart and work hard, but they are civil and try to have lives outside the firm," lawyers say. Diverse clients, diverse problems One of the biggest draws for most associates is DPW's prestige. Insiders also praise the interesting legal work and the opportunity to get deeply involved in deals and cases at an early stage in a lawyer's career. "There is some great work to be done here," says a litigator. "Things are staffed leanly and you have great opportunities that you cannot get anywhere else. The clients are as diverse as their problems." Who wants to go to Hong Kong? Insiders warn that DPW associates have to be careful about expressing interest in specialty practice areas or foreign offices. "You mention one thing offhand to a partner, and the next thing you know you're working in Hong Kong," explains one lawyer. Another source reports that junior associates typically get forced into spending six months in one of the specialty practice groups. "It wouldn't be so bad if they told you this up front. The problem is that most people don't expect it and then get very disappointed when they are 'asked' to do the rotation." Intellect matters, not race or gender Insiders say that neither race nor gender factors into the hiring process. "My impression is that people are not evaluated based upon race or gender here but upon perceived intellectual capacity and articulate speech," according to one lawyer. But associates say that there are no special efforts made to mentor minority lawyers. "I've noticed that people in general tend to mentor those who remind them of themselves when they were wet behind the ears. The less you look or seem like them, the less likely it is that they will mentor you." One insider says despite the presence of minority attorneys, the firm is still "WASP-y." In 1998 DPW promoted an African-American lawyer to partner for the first time.
Bonnie Hurry Legal Staff and Recruiting Administrator (212) 450-4143
Cleary, Gottlieb, Steen & Hamilton;Cravath, Swaine & Moore;Simpson Thacher;Sullivan & Cromwell;Wachtell, Lipton, Rosen & Katz More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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