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1. Due to attrition, more chances of PPOs
2. Less firms means maximal profits at them, chance to learn from the gods of the practice and work for a long while.
3. Lateraling to magic circle, Singapore or biglaw is exponentially easier
4. High fixed salary component, high partner pay
5. Highs and lows, no work during lows and hence free time during those weeks
People just see the LinkedIn posts of cap marks deal and think all of it is rosy
- zero application of law (just reading along the lines of ICDR and LODR)
- lot of due diligence
- clerical scope of work across diligences
- fixed fee mandates for urgent turnaround times
- less firms with star practices (Indus, SAM, CAM, S&R, KCO) || (TL, AZB, Saraf, L&L)
- lot of attrition, freshers playing musical chairs for GC/M&A after realizing what they walked into
- barring T1 firms, very few firms doing proper ECM work (Rajani, Crawford, SNG, Bharucha)
- very few bankers doing quality IPOs which already have their go-to advisers and counsels i.e. lot of entry barriers for other firms to bag sizeable mandates
- exploitation of interns and paralegals by making them do all the dirty diligence for months and not getting them on the team because "we have no vacancies right now: we are going for campus"
- long hours, less bonus components
- very sleek chances of fitting in-house roles for Investment Banks/Hedge Funds