Why are BigLaw websites more detailed than Banks'?
If you go to a website of a BigLaw firm, you can easily look up partners, associates, etc. and what transactions they've worked on during their careers. Additionally, any recent transaction or conference the firm was featured in is usually on the front page with a shoutout to the lawyers that were involved.
Contrast that with banks (especially BBs) where you cannot look up individual bankers or what deals the bank was on. EBs (EVR, MOE, CVP, PWP, etc. come to mind) usually have their senior bankers listed accompanied by a short bio of their experience and a page that lists the bank's transactions, but overall it's still not as detailed as law firms.
Recruiting timelines, procedures, HR info, and more are also clearly laid out on law firm websites.
Law and IB have similar amounts of employee turnover and both are competitive fields. What incentivizes the law firms to have more up-to-date and detailed firm info than banks?
I see this is what people in corporate finance do with all their free time
Lawyers have brain damage
I am in the process or hiring a legal firm for my personal business and I have recently "interviewed and screened" a number of legal firms in the Southwest of the USA.
- you hire an external legal firm for a very specific task you are tackling in business or personal life
- there are many legal firms out there that look, act and facilitate very similar services
- legal firms are spread across many different regions of the country (or even world, if the transaction is international)
- Highlighting their focus areas, KPIs, and leaders is a proven way to push potential clients to click on the inquiry form.
- Legal firms are often setup as "practices" and therefore in direct competition with other firms.
- The legal framework is often "alienating" to potential customers and showcasing their own staff may humanize this field.
- Legal professionals often have a worse reputation than professionals in financial services (maybe clients remember their own divorce or a DUI or other incident and how they were "ripped off" by a lawyer once)
- whether you win a certain legal case or not may depend more on the legal professional you hire; this is often the nature of how legal processes are handled and decided. Less common in banking. (i.e. see how Saul Goodman is treated at the courthouse compared to Jimmy McGill)
You will also often see that important case-related KPIs are not visible - they often show the successful cases, but not the lost ones.
Thank you for the helpful answer.
Omnis dolorum aperiam dolor possimus et blanditiis harum. Ad et nostrum hic veritatis quam aliquam tempora. Accusamus eum quae doloremque doloribus est eius nesciunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Fugiat sit inventore sapiente dolorem. Ullam rerum esse error consequatur labore quia. Corrupti rerum qui voluptatem ab laborum perferendis. Et quas earum occaecati. Sed a non sequi ex.
Dolores sit ut quaerat ea distinctio qui quia. Itaque harum quis totam fugiat consequatur. Molestiae et at quos nostrum quo. Perferendis ducimus perspiciatis pariatur ut aliquid nobis. Voluptates voluptatem esse debitis quia id est sint. A enim minus corporis velit. Omnis amet dolorem eligendi aut.
Eum ipsa exercitationem occaecati voluptatem. Error sunt sint qui ab. Dolores fugit earum ea totam similique. Excepturi consequatur quisquam assumenda ex beatae mollitia.
Sint totam qui eveniet aliquid delectus error. Enim odio voluptatum nemo ut. Omnis consequatur assumenda perspiciatis. Quis architecto fugiat doloremque. Excepturi voluptatibus voluptas maxime rem dolor.
Quia amet sed cupiditate velit aut. Adipisci blanditiis sapiente vel quia vitae sequi maxime. Repudiandae excepturi accusantium consequatur.