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Message: <blockquote data-quote="J Wu" data-source="post: 5694" data-attributes="member: 544">Welcome and introduction to Skadden·      A common perception of Skadden is that it focusses mainly on corporate work, but the firm has a very rounded practice, including market-leading international arbitration/litigation/white-collar crime practices.·      Skadden hits a certain sweet spot in the market where it has both breadth and depth across its practices.·      “the training is only as good as the people you learn from”Origins·      Three associates (Skadden, Arps and Slate) who were unlikely to make partner at their original firm decided to start up their own firm on April Fools’ Day in 1948. This was a very bold move at the time and they had a scrappy beginning amongst a scene of established ‘white shoe’ firms in New York. Their first associate, Joe Flom, would become one of the most significant figures in the firm’s history; he was key for much of their firm’s growth and future expansion. à There was an ethos of “we are just as smart as our competitors but willing to work harder”·      The firm notably has an all-equity partner structure (no non-equity partners)Growth/practices/awards·      The firm has mainly grown through organic growth which has helped to maintain a consistent culture throughout its history.·      The firm has grown many of its practice areas of the years.o  When this partner joined in 2002, there were only 2 disputes lawyers and now the London office’s disputes practices have received tier 1 rankings for the last 5 yearso  There has been significant growth in areas, such as international arbitration, which other firms are not as big in.o  They have a lot of awards (there was a huge list on the board, I didn’t get most of them down)§  International Arbitration Team of the Year 2017 – David worked on this. It was in relation to a dispute between South Sudan and the newly formed Sudan over oil fields. In this situation, they were counselling a new government that had only just been set up on the back of a civil war and were required to draft entirely new sets of law.§  1st firm to handle more than $1tn in global announced M&A in a year – (2015) Mergermarket/Reuters? (Unsure about the source)·      Huge transactionso  CME Groups $6bn acquisition of NEX Group o  Pfizer’s proposed $115bn acquisition of AstraZeneca·      These examples give an indication of the complex/high-value/precedent-setting work Skadden do. High demand, but high reward.·      Pro-bono is a big part of the firm’s DNA. Pro-bono hours go towards end-of-year bonuses. Example pro-bono work includes successful asylum applications for refugees coming to the UK. Notably, the firm also funds/pays people outside of the firm to do pro-bono work as well.Some of the firm’s key pillars/focuses·      They are one firm & one culture globally·      High-quality work·      Highest integrity and ethical stands·      Diversity & inclusion·      Collaboration & Professional growthDebunking the MythsThey are a NY firm (myth):·      they are a global firm that has focused on organic growth. The firm has been in London for 30 years, the training programme has existed since 2005. The firm has market-leading lawyers across both UK and US and has recently developed many London practices such as its PE and insurance practices.Skadden is a sweatshop/cut-throat (myth):·      The notion that lawyers at Skadden work too hard isn’t something that is unique to Skadden. It’s very much the case across the industry that lawyers at many firms will work too hard. On these significant transactions, where they might have to pull some late nights, there will be lawyers on the other side from both UK and US firms who will have to do similar hours when things start to get busy.·      It’s about working both hard, but also smarter – the focus is on getting the job done, communicating well and managing the client’s expectations.·      There are economic cycles and busy periods where late nights might happen a lot, but counsel notes how these periods were also the highlights of his career. Notably, he worked on the proposed Pfizer – AstraZeneca acquisition. These were the busiest 6 weeks of his life, but he found it fulfilling and enjoyable in the end.·      There’s no facetime culture·      There are work allocation systems in place to distributed work fairly, ensuring that everyone gets high-quality work and that no one hoards the lion’s share of the work.There is a specific Skadden type (myth):·      There is no single type of person suited for Skadden.·      A common trait is that they all like each other.·      They are looking for people who are forward-looking.·      They want people who want to contribute.·      People should want to just be themselves.·      Diversity is a key pillar of the firm and is a part of the firm’s heritageo  No single Skadden type but more of a shared vision.·      One trainee notes how his intake feels like more of a big family and that he feels he can walk around and chat to anyone. He states that everyone at the firm has their own unique backgrounds and interests.There is a lack of training & resources (myth):·      The lawyers are your teachers – at Skadden, they are very invested in your development.·      Focus on on-the-job trainingo  Lean teams mean higher level work – it is arguably through doing something over and over that you really get to understand something properly and how it fits into the bigger picture. o  Much of the work is precedent-setting where you will need a more practical skillset to tackle the issues encountered rather than classroom knowledge.·      Few firms can offer tier 1 practices across corporate, international arbitration (I didn’t get the rest of the list)·      The small intake means you can tailor your TC according to your needs.·      There is still formal trainingo  One trainee notes how they have seminars multiples times a week and how sometimes people come in to lecture them about the newest updates in law. (e.g. one of the people who writes the contract law textbooks whose name I did not catch) o  There are new things every week training-wise·      The training programme is well-established, and they understand that people have different learning styles.·      You have mammoth responsibility, but you are still supported & have guidance. One trainee notes how at the end of a transaction, he was given the chance to liaise with the CFO of a big client.You want a seat at the table (not a myth):·      Both in terms of clients and internally (partner approachability)·      You are actively involved with matters where the big question is ‘if we can’t do this, how do we change the law’ – you are actively involved in finding the solution.·      There’s a business development academy where they will teach you soft skills (i.e. networking).Recruitment process: hints and tips for applicants ·      1500+ applications, 80 AC places, 40 vac schemers, 10-12 trainees.·      Emphasise your interests.·      Know corporate law + Skadden (specifically London).·      Academics are often taken for granted and they focus less on this.·      They want people who can offer something different/people who stand out.o  Also, people who show a keen interest in Skadden and who get on well with other people.·      The AC consists of an office tour, a group exercise and an interview with partner/counsel and associate.·      The vacation schemes are 2 weeks long. There is flexibility to choose when you complete them.·      It does not make a difference when you do them. If you do an Easter scheme, your TC interview will be in the summer. If you do it during summer, your interview will be during your second week.·      There are not many assessments during the scheme. There’s a presentation I think, but the focus is  more on getting to know you.</blockquote>

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