The Corporate department is divided into three subgroups — Banking and Credit (which includes project finance and bankruptcy/restructuring); Capital Markets; and M&A (which includes private equity and fund work). We employ “Preferred Rotations” to ensure a broad experience. Each candidate is asked his or her “preference” among the three sub-groups. While not termed a “choice,” in practice that preference is always honored.
Associates do either two or three rotations, each lasting from six to nine months. We’ve chosen to give associates the option to experience more of the practice in a shorter time frame. The option to do a third rotation, though not required, is open to everyone; it provides an opportunity to visit a third corporate sub-group or simply to continue exploring one you’re already in before choosing a practice. Rotations begin and end on a case-by-case basis to enable associates to see projects through to the end whenever possible.
Associates are telephoned weekly to allow the assigning partners to stay abreast of associates’ assignments and to provide associates with an ongoing opportunity to have input into the type of work they do.
— Marni Lerner, Co-Chair,
Legal Personnel Committee