Simpson Thacher & Bartlett
From Wikipedia, the free encyclopedia
| Simpson Thacher & Bartlett | |
|---|---|
 |
|
| Type | Limited Liability Partnership |
| Founded | 1884 |
| Headquarters |  New York, NY |
| Key people | Dick Beattie |
| Industry | Legal services |
| Revenue | $801 million |
| Employees | 1,000 attorneys |
| Website | www.stblaw.com |
Simpson Thacher & Bartlett LLP is one of the oldest and most prestigious law firms in the United States. Its headquarters are located in New York. This full service firm employs over 800 attorneys in 8 offices. Simpson Thacher is renowned for its litigation and corporate practices, with special attention focused on its mergers and acquisitions specialty. The firm has particularly important relationships with private equity firms such as the Blackstone Group and Kohlberg Kravis Roberts. In 2007, the partnership earned $2,875,000 profits per partner.[1]
Contents |
[edit] Overview
Simpson Thacher is consistently among the most profitable large law firms in the world on a per-partner basis according to the American Lawyer's annual AmLaw 100 Survey. The firm also ranks near the top of other various surveys, including the Vault.com Associates Survey, and is generally considered one of the most difficult law firms at which to get a job.
[edit] History
Simpson Thacher & Bartlett will begin its 125th year in 2008. John W. Simpson, Thomas Thacher and William M. Barnum organized the firm as "Simpson Thacher & Barnum" on January 1, 1884, with offices at 10 Wall Street.
In 1889, the name was changed to "Reed Simpson Thacher & Barnum" when former U.S. House Speaker Thomas Brackett Reed joined the firm. Mr. Reed died in 1902 and the name was soon changed to Simpson Thacher Barnum & Bartlett. The final change came in 1904 when it was amended to its current name of Simpson Thacher & Bartlett.
From its original location at 10 Wall Street, the firm has operated at many offices throughout New York City until finally settling at its present location at 425 Lexington Avenue opposite Grand Central Terminal. The firm also has offices at the Chrysler Building across the street.
[edit] Pro Bono work
Simpson Thacher’s commitment to pro bono representation has been well recognized over the years. Recently, Simpson Thacher secured a significant victory for the Campaign for Fiscal Equity when the trial judge in the long-running litigation ordered a $5.6 billion increase in operating aid for the New York City schools and a substantial capital funding increase, following the recommendations of a panel of special masters. This decade-long case represents one of the largest and most successful pro bono initiatives of any major law firm.
[edit] Associate Compensation
In 2007, Simpson Thacher led the market by raising the base salary for first-year associates to $160,000 per year.[2] In the process, it established the market salary for all of its peer firms in New York City.
| Seniority | Base Salary | Bonus |
|---|---|---|
| Class of 2006 | $160,000 | $30,000 |
| Class of 2005 | $170,000 | $35,000 |
| Class of 2004 | $185,000 | $40,000 |
| Class of 2003 | $210,000 | $45,000 |
| Class of 2002 | $230,000 | $50,000 |
| Class of 2001 | $250,000 | $55,000 |
| Class of 2000 | $265,000 | $60,000 |
| Class of 1999 | $280,000 | $65,000 |
| Class of 1998 | $290,000 | determined individually |
In April 2007 Simpson Thacher & Bartlett increased the bonus paid to incoming judicial clerks to $50,000. [1]
[edit] Rankings
- For 2006, Simpson was ranked #6 on The Vault's Top 100 Most Prestigious Law Firm Rankings, and #4 in New York City.
- It was the number one legal advisor for US announced and completed mergers and acquisitions during 2005.
- The American Lawyer named it a finalist for Litigation Department of the Year in 2006.
- The Lawyer, a UK publication, named Simpson Thacher & Bartlett the US Law Firm of the Year in 2006.
- It was named Leading Law Firm in New York by The International Who's Who of Business Lawyers in 2005.
[edit] Notable Alumni
Simpson Thacher lawyers have included U.S. Senators, Solicitors General, a Speaker of the House of Representatives, a Secretary of State, a Secretary of the Army, Ambassadors, Judges on U.S. Circuit and District Courts and the New York State Court of Appeals, presidents of the American Bar Association, and presidents of the Association of the Bar of the City of New York.
- Guido Calabresi (Summer Associate)
- Cyrus Vance
- Karenna Gore Schiff
- Thomas D. Thacher
- Thomas Brackett Reed
- Dennis G. Jacobs
- Whitney North Seymour
- Wendell Lewis Willkie II
- Suzanne Nora Johnson
- Anne-Marie Slaughter
- Dwight Morrow
[edit] Offices
[edit] North America
[edit] Europe
[edit] Asia
[edit] See also
[edit] References
- ^ "The Full Profits Picture," 6/2007 AMLAW 151
- ^ Anthony Lin, Simpson Hikes Pay; First Years Go to $160,000, New York Law Journal, January 23, 2007
- ^ David Lat, Breaking: Simpson Thacher Raises Associate Base Salaries!!!, Above The Law: A Legal Tabloid, January 22, 2007
- ^ David Lat, Associate Bonus Watch: Willkie Matches, and the Simpson Memo, Above The Law: A Legal Tabloid, December 15, 2006
