Work assignments are allocated by specific partners within a given department with the help of several senior administrators. Depending upon the complexity of the matter, associates may work alone with a partner or as members of a team of several lawyers. Even the most junior associates have direct contact with clients and responsibility for producing tangible results under the guidance of partners and experienced associates.
Pro bono work is an important part of our practice and our lawyers' professional development. The firm employs a full-time pro bono coordinator who disseminates information about pro bono opportunities offered by courts and public interest organizations and assists in staffing these projects.
All associates are given formal reviews once a year. These reviews are based on detailed review and discussion of written evaluations prepared by supervising lawyers, using forms given to the associates so that they know the subjects that will be covered in the evaluation. In the reviews, we encourage a dialogue about the associate's career, the balance of work assignments and other work-related issues. In addition to the annual review, the firm encourages supervising lawyers to provide ongoing feedback to associates with whom they are working.
All associates work directly with partners, and the firm's "open-door" policy encourages frequent interaction among all lawyers.
The salary levels established for associates are not based on reaching any mandatory minimum billable hours level. Partners do, however, use time records as a management tool to track firm productivity, to effectively and fairly allocate work and to focus on an associate's professional development.
Davis Polk’s commitment to diversity is an integral part of our firm’s history and culture. At Davis Polk, you will find people from an astonishing array of backgrounds. Our lawyers come from 47 countries and speak 43 languages. One hundred forty-seven of our lawyers were born outside of the United States. We are pleased to announce that the newly released Vault 2008 Guide to the Top 100 Law Firms has ranked Davis Polk among the top 10 firms nationally in the “Best Firms for Diversity” rankings and among the top five firms nationally in the “Diversity with Respect to Women” rankings.
All first-year associates are assigned an associate mentor and a partner mentor. The associate mentor’s role is to welcome the new associate to the firm, and be available to assist with any introductory issues or questions the new associate may have. Within three months of their arrival at the firm, associates are matched with a partner mentor. Partner mentors meet regularly with associates to discuss work or life at the firm, in particular relating to the associate’s professional experiences and development.
Our formal training for new full-time lawyers starts in the fall with Lawyering 101, a week of substantive and professional seminars and social events. Throughout the year we have regular breakfast and lunch presentations on various legal topics. Our intranet has tremendous training resources and general information available to all lawyers.
An associate may assign to the Corporate, Litigation, Tax or Trusts and Estates departments. Those who decide to assign to the Corporate Department rotate through three groups for six months each. It is anticipated that each corporate associate will rotate through at least two of the three larger practice groups (M&A, Capital Markets and Credit). Upon finishing the rotations, an associate chooses, in consultation with the firm, which group he or she wishes to join permanently.
Associates are eligible for foreign assignments, generally for two years, after working in the New York office. A few associates may also start their careers in a foreign office. Approximately 78 lawyers in the Corporate and Tax Departments, including 57 associates, are currently on assignment abroad.
Credit is given in the salary scale for up to two years of clerkship at a United States federal or state court, or a Canadian court. Upon arrival at the firm, eligible clerks receive a bonus of $50,000 for a one-year clerkship and $70,000 for a two-year clerkship or two one-year clerkships.
In 2007 we will interview at over 35 law schools and job fairs, and reviewed all resumes we received through other sources. As a whole, our lawyers hail from 119 law schools, 214 colleges, 43 states and 47 countries.
Promotion to partnership does not occur at a fixed time, but of the 37 Davis Polk associates or counsel who have been promoted to partner during the last five years, their average time at the firm was between seven and eight years.
We expect between 90 and 100 new associates.
Associate compensation is based on the lawyer's class year. The compensation package is reviewed every year. For the class of 2007, the starting salary is $160,000.
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