Seward & Kissel LLP - The Inside View

While you may not be expecting to find ‘small’ in the world of Big Apple BigLaw, Seward packs a mighty punch without the need for a massive headcount. “The firm has fewer than 200 attorneys but has big clients which match a firm double its size. That was important to me,” a junior boasted. James Cofer, the firm’s managing partner, agreed that “we are a unique proposition in New York. We have 170 lawyers – which is a unique size – meaning we are not big BigLaw, but we’re small enough so that everybody can get to know everybody.” To get this experience, as Cofer notes, there’s no need to sacrifice on work: “Some people would say we punch above our weight, and the transactions we do every day involve big brand firm names.” So, with a smaller size and big work, it’s safe to say that associates can get their hands on some exciting matters. Much of this comes down to partner-associate relationships, which were reported to be a big part of the culture at Seward. Interviewees felt this played a huge part in their development, explaining: “I didn’t want to be a cog in the wheel, I wanted to be an attorney here with exposure to partners.” 

“Seward created the first hedge fund firm, so it knows its stuff!” 

The investment management team got some hype for its strong market presence. As one junior reminisced: “Seward created the first hedge fund firm, so it knows its stuff!” And that’s certainly no exaggeration. The firm picks up a stack of rankings from Chambers USA across its various financial practices, with particular kudos going to its nationwide transportation finance work (in the shipping sector, a Seward specialty) and its New York bankruptcy & restructuring practice. The firm is also ranked in white-collarinvestigations, capital markets and international trade. While recognized on a national level, the firm has just two offices in New York and DC, and most associates on our list were based in the former. 

Strategy & Future 

Looking ahead to the future, Seward isn’t looking to rock the boat. According to managing partner James Cofer, “we do not try to be everything and everyone.” Instead, the firm is going to focus on what it does best, and “will try to be strong in what we’re known for, which is investment funds and securitization products.” Cofer also explains that the firm will continue to strengthen its core transportation group by “looking into adjacent areas, mainly related to aircraft and container work.” Whilst this transactional area takes flight, the firm’s recent investment in lateral hiring in the white-collar investigations group is set to “complement the other areas we have,” according to Cofer. 

The Work 

The majority of associates on our list were sat in the investment management group, with the remainder dotted across corporate, tax, bankruptcy, capital markets, litigation, and trusts and estates. Associates explained how a free-market system is in place for work allocation across practice groups as “we don’t have an associate coordinator. Because of our size, we work with partners who are more than happy to accommodate us.” Despite this lack of structure, a source noted how “at no point do I feel like I can’t find enough work. I get as much as I’m willing to take on.” 

The investment management group is split into two: hedge funds and private equity. Most of the department’s work involves fund restructuring and creating new hedge funds, but the group also dabbles in some tax and employment work. “Our typical clients are emerging and established managers, which is super unique,” one newbie enthused. “I love watching a fund go from 0 to 100 with my help!” According to insiders, an example of a typical junior task would be attending client calls to discuss the terms of a document when starting a new fund before attacking the first draft. Regulatory filings and researching compliance matters were also mentioned as standard parts of day-to-day life in this group. As one interviewee boasted: “There isn’t much difference between juniors and seniors as we’re all doing the same stuff. Our initial drafts are just sent to the seniors to check.” 

Investment management clients: Akre Capital Management, Fairholme Capital Management, Aegis Financial Corporation. Advised AllianceBernstein on its initial registration and creation of AB Disruptors. 

“Most people recognize our corporate group for doing fundamental work when a company is acquiring or disposing of assets,” explained a junior in the team. More niche areas of Seward’s corporate team include internal reorganizations and financing rounds. We heard the group is “heavily influenced by investment management,” which juniors appreciated as “we aren’t just getting exposure to typical concepts; we’re opened up to a whole different world of experience.” The firm’s size, according to our interviewees, gives this group its wow factor: “With our caliber of clients, we can compete with much larger firms, especially given our investment management specialty.”  

Corporate clients: AlTi Global, Growth Catalyst Partners, TechInsights. Represented Diana Shipping on its $330 million acquisition of nine bulk vessels from Sea Trade Holdings. 

“My friends at other firms wear suits every day, but I wear jeans and Nikes to work!” 

Culture 

“Seward is fun, full of characters and down to earth,” a junior exclaimed on Seward’s culture. According to our interviewees, these vibes were achieved intentionally through recruitment as the firm “doesn’t hire people who care about prestige. The people here are a lot more genuine and want to do good work.” We heard that this could even boil down to how people dress: “My friends at other firms wear suits every day, but I wear jeans and Nikes to work!” Camaraderie was also said to be strong across levels and not just among the junior ranks, as “you work with partners and senior associates, sometimes late at night or early in the morning, and everyone is willing to help one another. I would consider many people here to be my friends.” 

Associates were also keen to highlight how there are plenty of attorneys who are Seward lifers, with one noticing: “What’s interesting is that people go in-house but come back. They could go anywhere, but I think it’s our culture that keeps them coming back.” It seems home must be where Seward is then! We also heard that ad hoc get-togethers are more common than formalized social events, so partners might take associates out for food and drinks during Thursday happy hours. Even Cofer was eager to emphasize the importance of such events on the firm: “Culture is a differentiating factor and shows good groups of people taking the time to build and strategize together, even when that means building a mini golf course on every floor!” 

“… it isn’t a pressure cooker.” 

Hours & Compensation 

Billable hours: 2,000-2,200 target (tied to bonus structures) 

The firm uses a lockstep bonus structure, so hitting 2,000 hours opens up the first tier, while 2,200 opens up the second. 150 of these hours can be put towards pro bono and various firm matters, such as business and client development. According to interviewees, the target is more achievable in some practice areas than in others, with a transactional associate acknowledging that “not everyone is reaching it.” So, what happens next in these cases? Well, sources praised the firm for its approach, explaining how “you don’t get fired for not hitting it. The partners want you to meet the target and will talk to you to make sure you can hit it in the following year.” The free-market system affected some of the associates we spoke to, one of whom “would love a centralized system to ensure that people don’t fall down the cracks and can get enough work.” However, others praised the support from partners, as “they won’t look at you funny if you have down months – it isn’t a pressure cooker.” Sources also felt similarly about their day-to-day hours, explaining that, while some out-of-hours work is inevitable, the work-life balance might be “as good as it gets in BigLaw!” 

Pro Bono 

Seward has links to the Her Organization, which supports women in living in poverty, and also collaborates with the New York Legal Assistance Group, Urban Justice Center and Phoenix House. However, it’s worth noting that, as one source expressed, much of this is “litigation-heavy, so there is only so much I can do as a transactional associate.” Another point to bear in mind is that associates are given 150-hour billable credit for pro bono hours. Especially considering that this allotment is to be shared with other non-billables across the firm (like memos and presentations, which may often take up associates’ time), some reflected: “I don’t really want to do more than the cap as it can’t be billed.” However, associates are welcome to take a bit more control over which pro bono matters they do want to take on, as interviewees explained that “if you want to go after a certain matter that fits your knowledge and bring a business case to the partners, they won’t say no.” 

Pro bono hours

• For all US attorneys: 1,947
• Average per US attorney: 32.2

Career Development 

Sources agreed that development opportunities were more informal than structured, with one suggesting that “it is mostly sink or swim.” We heard that, thanks to the free market system, “a lot of development happens when attending client pitches and meetings to get experience and work.” Interviewees in investment management had also noticed a learning buzz across the group thanks to new rules and updates from the Securities Exchange Commission: “Us juniors might know as much as the partners so, when those discussions are happening, we’re learning together and get to have a valued opinion on the matter.” Sources also explained how creating webinars for clients provides another opportunity for associates in the group to learn and develop as “we’re in the weeds and can spend more time on their questions.” 

“The partners ask us for feedback, too!” 

So, although formal training sessions might be “a rarity” according to some, those that are on the calendar are typically CLEs or presentations on the functions of a law firm. The firm also holds weekly sessions with first- and second-years on different practice areas and industries, and juniors appreciated how “the partners ask us for feedback, too!” Our interviewees rated the networking on offer as well, especially at the firm’s alumni event. “Alumni who have worked in-house or at other firms come to this big event,” an associate explained. “It’s a great way to chat to people about career paths and other business development opportunities outside of Seward.” What’s more, insiders confirmed that Seward puts their money where their mouth is and “funds networking opportunities.”

Diversity, Equity & Inclusion 

Associates highlighted the Women’s Initiative as a particularly strong aspect of the firm, especially when it comes to networking and development. One junior “recently went to a female partner and client fashion event where we all went to get lunch and chat!” Speaking of fashion, we heard there’s an upcoming networking event where female attorneys and local major banks can get together to paint Nike Air Force 1s – we’re getting serious FOMO! Other facets of DEI have also been represented through Seward’s events, such as a recent auction for Black History Month where “we could bid on artwork made by young black artists from a Harlem school, and the funds from the purchases we made were funneled back into the school.” Another event that got associates talking was the firm’s Lunar New Year celebration: “Around 150 of us crammed into the lobby where there were Chinese dancers, red envelopes and food. It was especially great for our Southeast Asian associates.” 

However, when it comes to the firm’s diversity more generally, one interviewee admitted that it’s currently “not a strong point for Seward.” Others noted that, when it comes to recruitment, “not having a big name hurts us more when trying to attract associates as we don’t have as much of a presence at diversity events.” Juniors also wanted to see more diversity across the partner and associate ranks, but appreciated the discussions currently going on at the firm: “There’s a pretty open dialogue. People of color who work here have raised issues with the firm and are doing whatever they can to fix the problem.” For example, Seward recently hired a DEI consultant from Ivy Planning Group, and sources had already noticed a change with “more events and people getting together. I don’t know what will happen going forward, but something is definitely happening now!”

Get Hired 

The first stage: recruitment on and off campus 

OCI applicants interviewed: 230 

Interviewees outside OCI: 14 

Seward & Kissel sees between 20 and 40 students per school/job fair, and attends over 12 on-campus programs and job fairs including Albany, Boston College, Boston University, Brooklyn, Cardozo, Cornell, Fordham, Howard, NEBLSA Job Fair, NYU, Rutgers and Seton Hall. 

Partners, counsel and associates conduct the interviews. The firm looks for “well-rounded, mature individuals of demonstrated intellectual capacity and promising legal ability” in prospective associates, according to partner Kevin Neubauer. Interviewers will also want to see analytical ability, judgment and decisiveness in the students they interview. Good people skills are also important, so candidates with personality and character will fare well. Preparation, self-confidence and enthusiasm also helps individuals stand out. 

Top tips for this stage: 

“Candidates who impress our interviewers are able to speak clearly and confidently and will be engaged in the conversation, providing sincere responses. They will be enthusiastic and demonstrate that they are the type of person with whom our attorneys would want to work.” – Investment Management partner Kevin Neubauer 

Callbacks 

Applicants invited to second-stage interview: 110 

Callback candidates speak with a mix of four partners, counsel and associates (each of the meetings lasts for 30 minutes). Questions at the callback interview tend to be open-ended so candidates can answer freely, allowing the interview to become more of a conversation – and permit the candidate to do most of the talking. The questions will also require a candidate to show the ability to think about a subject area with focus and organized thought. 

Before the callback interview, candidates should review their resume, as interviewers will delve into their experiences detailed on the resume. The firm’s website is another resource candidates should use to prepare: to get an idea of S&K’s practice areas to be ready to talk about which areas interest them. After the firm makes its offers, successful candidates are welcome to speak with more attorneys. 

Top tips for this stage: 

“Confidence, ability to speak about your experiences and genuine enthusiasm for working at Seward & Kissel help make a great first impression." –Investment Manager partner Kevin Neubauer 

Summer Program 

Offers: 30 

Acceptances: 11 

S&K aims to give its summer associates a realistic overview of the firm’s practice during the summer program. Summers rotate through each of the major departments. One key feature of the program is feedback: the firm provides summer associates with extensive feedback on their work, through both formal and informal evaluations during the program. 

The program is also designed to allow summer associates to get to know attorneys through training and social events. Summers can mingle at weekly events. Virtual events for the 2021 summer program included: murder mystery, co-worker feud, glass painting, a mixology class, pretzel making, wine blending, weekly trivia, and departmental happy hours. As for training, each department hosts a seminar to introduce the attorneys working in that group, showcase the work they do, and educate summers as to what would be expected of them if they ultimately joined as an associate. 

Before the end of the program, each summer associate meets with the chief recruiting officer to discuss practice group options and to list their top three choices for placement. The firm tells us it makes every effort to match the expressed choices with the firm’s needs. Most years, the firm achieves a 100% acceptance rate from its summer associate classes. 

Top tips for this stage: 

“Questions are encouraged and if a summer associate does not understand an assignment, they should seek clarification immediately. The summer associates should also take the opportunity to speak with as many attorneys as possible during their ten weeks at the firm.” – Investment Management partner Kevin Neubauer 

Lateral Hiring 

S&K hires lateral associates for designated practice groups depending on business needs, whether that’s increased work in a particular group, or to replace an associate who’s departed. Lateral hires generally have between three to six years of experience, and the firm tells us that its recent hires have come from other premier law firms and the government. In the past year, the firm has recruited laterals into its real estate, investment management, corporate finance, global institutional finance, maritime, capital markets, tax, and business transactions groups. 

And finally… 

“Our firm is a friendly place that has a strong, supportive environment. Most of our partners have spent their entire legal careers at the firm, and so, because the partners have effectively grown up here together, there is a clear sense of trust, mutual respect and team loyalty. We are down-to-earth people, which sets the tone for a wonderful working environment.” – Investment Management partner Kevin Neubauer