2024 DIVERSITY DATABASE UNDERWRITER Wachtell, Lipton, Rosen & Katz

Our Survey Says

VAULT'S VERDICT:

NYC stalwart Wachtell Lipton, with one office, is small by BigLaw standards but sets the standard for compensation and quality of work. The hiring process is ultracompetitive, with most associates coming from T7 schools with top credentials. Once hired, associates should be prepared for office settings where coworkers are cordial but focused and centered on work. Lean teams mean that partners and associates work closely together; fortunately, partners appreciate and value associates and provide feedback. Partners are also intent on teaching and training associates, who benefit from direct, hands-on experience and strong training programs. Work assignments are challenging and significant, with associates pressed with many opportunities and responsibilities. There is no shortage of high-quality work, so all associates are busy—and even without a formal billable hour requirement, associates likely bill and work more than their peers at other firms. Associates, however, are compensated at a level commensurate with the hours they work. Salaries and bonuses are above the market rate. Office technology is adequate, but not cutting-edge, and supported by a helpful IT staff. Wellness offerings are basic and uninspiring, and associates report not having time to take advantage of them. Pro bono work is not a firmwide priority—a distant second to billable work. Diversity is effectively addressed through a culture of mutual respect, affinity groups, recruitment, and related activities. Retention to the partnership ranks needs to be improved. Given the size of the firm, promotion to partner is possible and realistic but difficult. Notably, counsel roles are viable, and experiences gained at the firm set up associates for excellent opportunities outside the firm.

FIRM'S PERSPECTIVE

Wachtell Lipton was founded on a handshake in 1965 as a small group of lawyers dedicated to providing advice and expertise at the highest levels. We have achieved extraordinary results following the distinctive vision of our founders — a cohesive team of lawyers intensely focused on solving our clients’ most important problems.

We have experience in the fields of mergers and acquisitions, strategic investments, takeovers and takeover defense, shareholder activism, corporate and securities law and corporate governance. We handle some of the largest, most complex and demanding transactions in the United States and around the world. We counsel both public and private acquirors and targets. We handle sensitive investigation and litigation matters and corporate restructurings, and counsel boards of directors and senior management in critical situations. We have a track record of original and groundbreaking solutions and innovations that have had a dramatic impact on business and law. We are thought leaders.

Our distinctive structure defines our approach. We maintain a ratio of associates to partners significantly below that of other firms. We focus on matters that require the attention, extensive experience and sophistication of our partners. We limit the number and type of matters we undertake.  Our system of lock-step compensation promotes a careful selection of matters as well as the flexibility to bring the right expertise to bear without regard to factors extrinsic to providing the best service and advice. We work together on a task-force basis on all of our matters, bringing to bear the requisite mix of people and expertise across practice areas. Our structure and approach attracts talented and entrepreneurial lawyers, who enable us to achieve excellent results for our clients in complex and critical matters.