Tips for Trading Up

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Tips for Trading Up

Postby Anonymous User » Mon Apr 16, 2018 9:47 pm

Hey All!

So I know that 3L OCI is not what it used to be. However, I am wondering if there are any tips from people who have successfully traded up to a better firm. Any advice on how to network? When to massmail? etc.

I am a 2L with a V30 offer in a secondary market, let me hear any success stories, thanks!

2013

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Re: Tips for Trading Up

Postby 2013 » Mon Apr 16, 2018 10:42 pm

You should really focus on getting an offer first. Also, unless you’re trying to be in NY or something, I don’t understand why you’d feel the need to trade up from a V30

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Re: Tips for Trading Up

Postby Anonymous User » Mon Apr 16, 2018 11:03 pm

Definitely want to be in NY long-term and will focus on getting an offer.

Just wanted to know if there was anything that needed to be done ahead of time, rather than last minute.

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Re: Tips for Trading Up

Postby Anonymous User » Tue Apr 17, 2018 12:19 am

Control what you can control - i.e. get good grades. Outside of that, 3L OCI/trading up generally is just a crapshoot. 3L market has been pretty dead the last few years. There are always a couple NY firms that'll look for one or two people to fill the gaps in their classes but it may be in a practice group that you're not particularly interested in.

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Re: Tips for Trading Up

Postby Anonymous User » Tue Apr 17, 2018 9:43 am

I don't know where this "3L OCI is dead thing came around" but at least at my T20 it was very easy for people to trade up as long as they had biglaw summer associate gigs.

I was class of 2017.

sparkytrainer

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Re: Tips for Trading Up

Postby sparkytrainer » Tue Apr 17, 2018 10:31 am

Anonymous User wrote:I don't know where this "3L OCI is dead thing came around" but at least at my T20 it was very easy for people to trade up as long as they had biglaw summer associate gigs.

I was class of 2017.


You realize last year summer associateships were down 25% across the board and at my t13, 1 person traded up with 3L oci? It was a bloodbath.

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Re: Tips for Trading Up

Postby Anonymous User » Tue Apr 17, 2018 10:53 am

I was Class of 2017 at one of the Top 6. I am one of a handful of people I know who graduated without a job. Forget trading up, getting a job period was hard :(

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Re: Tips for Trading Up

Postby Anonymous User » Tue Apr 17, 2018 7:34 pm

sparkytrainer wrote:
Anonymous User wrote:I don't know where this "3L OCI is dead thing came around" but at least at my T20 it was very easy for people to trade up as long as they had biglaw summer associate gigs.

I was class of 2017.


You realize last year summer associateships were down 25% across the board and at my t13, 1 person traded up with 3L oci? It was a bloodbath.


I highly doubt this is accurate, I know of at least 3 people at my T20 who traded up in 2018, and this is solely from FB announcements which are definitely seldom.

Yeah 3L OCI is brutal if you didn't summer, but it's alot different for people who had good summer experience.

2013

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Re: Tips for Trading Up

Postby 2013 » Tue Apr 17, 2018 7:40 pm

We’re also probably talking about different magnitudes here as well.

A t13 trading up is probably trading up from a v20 to a v5, or at least wanting to.

A t20 is probably trading from a v100 to a v50 or v20.

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Re: Tips for Trading Up

Postby Anonymous User » Wed Apr 18, 2018 6:15 pm

Would mass mailing be the way to do this/ if so when? How do you know which firms are even hiring?

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Re: Tips for Trading Up

Postby Anonymous User » Wed Apr 18, 2018 6:25 pm

Anonymous User wrote:Would mass mailing be the way to do this/ if so when? How do you know which firms are even hiring?

I have heard people find success with mass mailing and emailing. You should target all the firms that you are interested in. Usually, 3L slots open up if a firm does not reach its junior associate yield from 2L summer offers. Some firms end up always taking some 3Ls.

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Re: Tips for Trading Up

Postby Anonymous User » Wed Apr 18, 2018 11:29 pm

I also know several people who “traded” up - some firms always seem to hire a bunch

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Re: Tips for Trading Up

Postby Anonymous User » Thu Apr 19, 2018 10:39 am

any idea on specific markets for 3l? is it typically New York? Boston seems to be growing a lot now (see link below).

https://www-bizjournals-com.ezp-prod1.h ... firms.html

"the city has welcomed Kirkland & Ellis LLP, Hogan Lovells, White & Case LLP, Quinn Emanuel Urquhart & Sullivan LLP, Wilson Sonsini Goodrich & Rosati, Hunton Andrews Kurth, Polsinelli PC and Womble Bond Dickinson since the beginning of 2016. Each of those firms ranks among the 100 highest-grossing in the U.S."

Will these new offices in Boston be looking for rising 3L's or just laterals?



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