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Originally Posted by Unregistered
Important but not crucial. A place is always better than none. But it also depends on your grades etc and practice area. Gotta be stratetic there's already a glut at the junior levels, and this economy isn't making it easier. For insolvency, places include Big 4 and Blackoak etc. If you're keen on corporate, most places seem to be freezing on retention and are involved in cost cutting (either lowering pay or freezing retention) but trainees are probably welcome.
Commercial litigation may go up, enforcement force majeure etc. Court still goes on for limited matters, liti will be okay after the CCB. Others like white collar family probate are always there.
Arbitration is hit because of difficulties in travel, but there's Zoom.
In this market unless you're really good, corporate/tax doesn't seem to have enough revenue to retain but trainees welcome.
Alternatively, if you really want corporate you can wait until the market stabilises in your grad year. By the time you get called, the economy should be recovering as we move past this climate.
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Hmm I don't really agree with waiting out because you'll still be competing with those who had waited out with you plus the subsequent batches, unless you have something to distinguish yourself beyond the run-of-the-mil qualifications; perhaps an LLM, a 3rd language or some prestigious internship (eg UN).
THis downturn will hurt all the big firms hard, especially those corporate focused ones. Even if the firm has countercyclical practices, like insolv, it isn't going to make too much of a difference to stem the bleed. Lots of fat will have to be trimmed at all levels.