The Scoop

LeBoeuf has been a leader in energy law since its founding in 1929. With about 75 lawyers, the firm's energy & utilities practice is engaged in nearly all aspects of the operations of the electric, gas, telecommunications, and water industries. The firm has been involved in more electric and gas M&A deals than any other firm - including M&A kings Skadden and Wachtell - and is especially active in electric utility mergers. In 1998 LeBoeuf worked on the first-ever successful acquisitions of U.S. utilities by foreign purchasers, representing British utility National Grid Group plc in its $3.2 billion acquisition of Massachusetts-based New England Electric System, as well as PacifiCorp's $7.0 billion deal with Scottish Power plc. The firm remained active in energy deals in 1999, representing Dominion Resources in its $8.3 billion takeover of Consolidated Natural Gas in February, New Century Energies Company in its $7.9 billion merger with Northern States Power in March, and Florida Progress Corp. in its $8 billion deal with Carolina Power & Light in August

Getting Hired

Looking for pedigree, asking for writing samples

LeBoeuf recruits from the top law schools, and it's quantitative in its approach to hiring. "The older people on the hiring committee really want grades," an insider says. "They are looking for a certain type of pedigree." The firm is also reportedly a bit more thorough than some of its competitors in doing its due diligence on candidates. Associates report that the firm always asks for a writing sample from its candidates, which a member of the hiring committee supposedly actually reads. Sources also report that LeBoeuf is very thorough and does extensive reference checks. Popular schools at the firm are NYU, Columbia, Fordham, Harvard, Yale, Georgetown, and UVA.

Our Survey Says

The pay is terrific, but bonuses are a mystery

Most associates agree that the firm "is very focused on ensuring that associates' salaries are competitive with other NYC firms." From what associates tell us, LeBoeuf can be proud that "management has been very responsive in recent years in this regard" and is "moving to be proactively competitive, rather than just reacting as in the past." This "whole new attitude that [LeBoeuf] is really a top firm now" is "much appreciated." While LeBoeuf "is not a leader in salaries or year-end bonuses," "it does tend to follow the pack."

Bonuses are another story. LeBoeuf associates are not happy about the fact that "the firm is not setting bonuses until the end of the year." A second-year associate in New York complains that "last year the firm didn't handle bonuses very well. Having set forth 2,000 hours as the target all year, come bonus time you had to bill 2,100 to get more than the $5,000 per class bonus. This was especially insulting to the senior people, who, if they billed around 2,000, got the same bonus as second-years, when obviously the senior people are worth more to the firm." Another "crappy thing the firm did was overcompensate first-years relative to second-years, which angered a lot of second-years. Every class in the firm got a standard bonus of $5,000 and then the 2,100-hour amount differed by class, except for first-years, who got a standard $3,000 for working only three months!"

"Watch and learn"

Training at LeBoeuf is pretty much on-the-job, to the dismay of some associates and pleasure of others. "There is virtually no training here," sighs one insider. "It's catch as catch can. Some partners here are good and willing teachers, but the burden is on the associate to seek them out." The firm "has had occasional seminars on certain areas of law" and has implemented a new associate training progam. But since there is only "formal training in some departments," associates find that to "watch and learn is the best way."

Shared offices and support services

First-years at LeBoeuf share offices, but "generally you receive your own office in your second year." While the decor usually gets approval from LeBoeuf's denizens, most "wish there was a little more space," citing a "lack of adequate work-room and conference space." Even if "the offices are not beautifully appointed," shrugs a second-year, "they are comfortable and functional." And you can bring your own throw rugs. Sharing secretaries is more problematic. "Associates share a secretary with usually one partner and another associate," explains one interviewee. A colleague complains that "the secretaries do not pay attention to junior associates" because the opinions of the sharing senior associates and partners "count more than junior-levels for review purposes." Another finds that because his secretary works for a partner, he is "clearly second fiddle." A bankruptcy first-year cautions that "there are always complaints about secretaries." However, "the firm has recently implemented a new program of assigning secretaries to only lower-level associates, removing any hierarchy issues among the assigned lawyers."

Culture in transition

LeBoeuf seems to be undergoing a change from a more sedate, lifestyle-based firm to a fast-paced, top-tier player. The change has both positive and negative aspects for current insiders. So what's the beef at LeBoeuf? The culture at LeBoeuf is "confused," says a corporate first-year, "laid-back and very conservative at the same time." This description seems to sum up a firm that is "old, but getting younger quickly" as a result of a "young management" which is "more willing to take risks in terms of expanding the client base and marketing the firm." LeBoeuf is "slowly making the transition from a 'lifestyle' firm to a competitive, top-25 NYC firm," with the "clients, hours and salaries to match," according to a real estate associate. Some associates find it "incredibly political," particularly in terms of making partner. Others counter that "hard work pays off" and that the firm is a "pull-yourself-up-by-the-bootstraps kind of place."

Insurance means status - but other areas strong too

Insurance is the first thing that comes to LeBoeuf lawyers' minds when asked about the firm's reputation in the legal industry. It is "the premier insurance firm in the U.S.," declares one first-year. Another insider clarifies that LeBoeuf is "best known for its insurance and public utilities practices." LeBoeuf's "innovative rates" keep "large, established clients and their investment banks in the energy and financial services sector" and has led to "increasing international transactions capability."

While some share sentiments that LeBoeuf has a "weak general corporate department," other associates term LeBoeuf a "solid all-around firm" with "up-and-coming corporate and litigation practice areas." The stats are in LeBoeuf's favor - in 1999 LeBoeuf ranked fourth among all financial services legal advisors on M&A deals, behind only Wachtell, Sullivan & Cromwell and Skadden Arps.

Advice for newcomers

Associates remind those considering offers at the firm that LeBoeuf "probably still has the best quality of life for attorneys of any firm its size and stature in NYC." Associates "are treated well" and it's a good place "for older people or second-career people," asserts a corporate third-year. Another positive is that "you can stand out more easily at LeBoeuf, as opposed to at billable hours-obsessed firms, by working hard at the appropriate times, showing initiative at all times and having a good attitude with all employees."

Employment Contact

Deborah M. Gustafson
Recruiting Coordinator
(212) 424-8078

Key Competitors

Chadbourne & Parke;Dewey Ballantine;White & Case;Willkie Farr & Gallagher

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