With ample opportunities to work across real estate, corporate and litigious practices, this East Coast outfit combines “the best of both the mid-sized and the major firms…”
“I was looking for a firm based on vibes, and I found the vibes I wanted,” joked one junior when asked why Goulston & Storrs was the one. So, what’s the Goulston vibe? “It tries to get the best of both the mid-sized and the major firms and combine it into one Boston-based real estate firm,” explained one associate. While Boston indeed remains the main base of operations, Goulston also has offices in New York and Washington, DC but, according to our sources, tries to keep a “one office” feel and maintain that Boston culture in its other bases. The firm’s expertise extends far beyond its real estate roots too. While Goulston bags top Chambers USA real estate rankings in Massachusetts (including for the sub-practice of zoning/land use), there are also impressive accolades across practices like bankruptcy/restructuring, litigation and environment. That’s on top of recognition for its real estate practice in DC and nationwide. The firm also ranks highly for private wealth law in Massachusetts in the Chambers High Net Worth.
Strategy & Future
We heard that roughly every month there are lunchtime sessions where directors (the firm’s preferred term for ‘partners’) provide counsel and associates with updates on business. Associates are “randomly picked” for small group lunches with directors and encouraged to come ready with questions about firm strategy or even what the directors are currently reading. Our sources felt there’s “a lot of transparency” and “a willingness to respond thoughtfully,” so they’re “not boxed out of things” and are made aware of what’s going on at the firm. This has included a recent move to a new office space at One Post Office Square in Boston. Insiders liked how “it’s definitely more modern, there’s a lot more glass,” a helpful feature we heard for seeing who’s in the office on a given day.
The Work
The vast majority of Goulston’s associates are based in its Boston HQ, with the others spread between Washington DC and New York. Perhaps unsurprisingly, “about half, if not greater than half, of lawyers, at least in Boston and maybe the entire firm, work in real estate.”
“…about half, if not greater than half, of lawyers, at least in Boston and maybe the entire firm, work in real estate.”
Associates fill in a work roster to indicate how busy they’ll be over the following weeks. Work allocators then use this information to know which associates are available to take on new assignments: “I like the allocation process, I like that someone else who knows what a full plate looks like is helping me,” one associate told us, “You can always push back too. They know when I’m busy and refrain from giving me too much when I’m in one of those hectic weeks.” Juniors can also ask to put onto matters which interest them.
First things first, for real estate attorneys: “there’s a pretty even split between the land use side of real estate and the transactional side.” Breaking that down further, on the land use side, “we do a lot of land entitlement work with the zoning board,” mainly focusing on the “really early stages” – think pure dirt, vetting and converting. On the transactional side, juniors can expect to carry out due diligence for acquisitions, draft and review leases and work on joint ventures. They also help with financings and securitizations when there’s a real estate element to a corporate transaction.
“Certainly, as a junior associate, you’re encouraged to try everything,” one told us, and attorneys specialize about five or six years into their career. Of course, being a generalist “comes with benefits and challenges.” While associates get to learn about “all the aspects of the broader real estate world, sometimes it can feel like you’re still a beginner in all of them.” Yet overall, associates felt “in the long term it’s the best way to do it” despite the “growing pains in the short run.” Deals tend to be leanly staffed: “the partner to associate ratio is pretty close to 1:1” and because of this, juniors attend client meetings very early on.
Real estate clients: Morgan Stanley, Welltower, HarbourVest Partners. Counsel to AvalonBay Communities, a public equity REIT which develops upscale apartments, on its projects across the US.
The corporate practice is “by and large split down the line between finance and M&A generalist work.” The corporate umbrella covers banking and finance, bankruptcy and restructuring, capital markets and securities, closely held and family businesses, employment, IP, M&A, private investment funds, tax and venture capital and emerging companies. Juniors “are encouraged to gain skills in all of the areas,” then declare a specialty a few years into their career. Our sources classified the department’s main area of work as “quite a lot of middle market mergers and acquisitions,” acting on both the buy side and sell side of deals.Cross-group work is pretty common at Goulston & Storrs too, meaning corporate attorneys will often find themselves handling the corporate documents on a broader real estate project. This is especially common on the finance side of the group. And, like real estate, corporate staffs pretty leanly, “so I feel like I have a lot of room for stretch goals.” There’s frequent collaboration between the New York and Boston offices, and with the recent addition of a corporate partner in the DC office too, the firm is hoping to grow its presence there.
And the typical day for a corporate junior? “When I’m in the heavy part of a deal, I’m spending a lot of time doing the due diligence, drafting ancillary documents, doing definitions checks and making sure that the main credit agreement or purchase agreement is ticking and tying as it should,” one informed us. In the quieter periods between the larger deals, associates complete more discreet tasks. Although from the outside “the work can seem very mundane, when you recognize the value it brings to the people on the other side - to what feels like a cold corporate transaction - that’s really meaningful.”
Corporate clients: Walnut Industries, 48forty Solutions, Professional Women’s Hockey League. Representing IT network and infrastructure provider Pliant in its merger into a subsidiary of IBM.
Career Development
Each new associate is given a director mentor and an associate mentor called a “sibling.” The general consensus was that mentors at different levels was a significant benefit “because they can provide different perspectives.” Mentorship and regular feedback are a big part of the firm’s culture too: “One thing the firm prides itself on is that you should never get any negative or mixed feedback for the first time in your review.” Informal mentoring relationships are also common.
“It’s an idea sharing environment all the way from associates to tippy-top directors, so I like that collaboration across levels.”
Throughout their first few years, associates can attend a variety of “discussion-based sessions, rather than trainings, per se,” which mentors (both directors and “siblings,” depending on the session) can also attend. Some departments hold regular round table discussions where juniors can ask questions and learn from seniors’ experiences, “it’s an idea sharing environment all the way from associates to tippy-top directors, so I like that collaboration across levels.” All in all, the firm is “very supportive of us growing our careers.” For example, sources had witnessed seniors helping some mid-level associates find and apply for external opportunities which matched their interests. The firm maintains relationships with its alumni and invites in-house alumni (and other in-house counsel) to take part in panel discussions, such as a recent one “on the best ways to work together.” For current associates, it’s “really cool to hear their perspectives.”
Of course, all that said: “They do want people to stay in the long run, it’s not a churn and burn environment,” one junior told us, flagging up Goulston’s small intake as evidence that the firm wants to train and retain its associates. Needless to say, this attracted some to the firm: “I like that we do hire small classes because the idea is that you’re joining Goulston with the possibility of making partner,” shared one insider. “That was more preferential to me compared to the up or out model at bigger firms. They hope you’ll stay and make use of that.”
Hours & Compensation
Billable hours: 1,850 target
Rather than a billable hours requirement, “we have a soft target of 1,850, which I think is absolutely achievable,” one associate explained, “I’m told it’s not factored into the review process for first and second years, they want us focusing on gaining skills.” That said, some associates weren’t sure “if people try to hit it right on the money or if that’s seen as the floor - that’s still a mystery to me.” Due to assignments coming through work allocators, associates aren’t completely responsible for setting their own workload. In summary, “we’re not expected to look for work but if you’re not very busy, you shouldn’t be saying no to work.”
While interviewees had mixed feelings about the absence of bonuses for associates, “if you were to work 2,100 hours you wouldn’t be compensated more, so it takes the pressure off.” Directors can see how many hours associates are billing and we heard of them checking in on juniors who were really racking up the hours: “The work has to be done, but they want me to be a human and not burn out which is nice.” The work roster also helps associates avoid being overwhelmed “because I’m listing out everything I’m doing and they give me leeway” after a busy period. Associates are expected to be in the office “more often than not,” which equates to three days a week, and two of those days have to be two of Tuesday, Wednesday or Thursday.
Culture & Inclusion
“Overall, it’s just not been a cutthroat environment,” summarized one associate when asked about firm culture. Another junior emphasized how “in those interviews when people say things like ‘teamwork’ and ‘collaboration’, I think it’s actually true here.” Our sources didn’t feel pressure to take on every assignment they were offered if they were already busy. Seniors are “very aware I’m doing my best and I’m very busy,” one told us. “They don’t make me feel like if I have to say 'no' or 'not right now,' I’ll never get work from them again.” For another associate, this culture fed into the feeling that “I’m really happy here. It’s definitely a place I could see myself growing in my career and in a way that makes me feel supported and happy.”
Social events are organized every month or so, “whether firm-wide or for the associates.” On a less formal basis, attorneys are encouraged to travel to Goulston’s other offices to attend training sessions in person or to network more generally, “the firm is interested in having it feel like one office, they encourage us to travel to other offices and take people out to lunch to get to know them.” The firm also puts on events for various heritage months, “reminding us what keeps us connected and makes us valuable to the firm” and it has an active speakers program which focuses on the benefits of diversity.Goulston’s Building Equity program aims to advance inclusion by supporting people from unrepresented groups and minority business owners in the real estate development business.
Pro Bono
Goulston has “a history of working with local economic development corporations or non-profit developments,” helping them through providing services pro bono or on discounted rates. In practice, this often means “using our real estate expertise to assist” such organizations in buying premises. The firm’s attorneys also use their practice area-specific knowledge to help individuals in landlord/tenant disputes. Many associates also do immigration-related pro bono and “a good contingent of people work on reproductive rights legal advocacy.” Beyond these options, “if you know of an opportunity that you want to bring to the firm,” associates are welcome to present their case to the pro bono committee, “even as a first and second year.”
Pro bono hours:
- For all US attorneys: undisclosed
- Average per US attorney: undisclosed
Get Hired
The first stage: recruitment on and off campus
Goulston & Storrs participate in OCI with schools in the geographic areas of their offices (Boston, NY and DC) as well and more broadly at the University of Chicago and University of Michigan. G&S also participates in The Boston Lawyers Group Job Fair. A member of the hiring committee meeting or law school alum usually conducts the “screening” or On Camera Interview.
The firm tends to ask questions to see whether students understand the firm and its emphasis on quality and culture. The questions are designed to yield a sense of the candidate’s engagement with the law and interest in the firm.
Top tips for the stage:
“Know who we are and have a sense of why our firm might be the right place for you to develop as a lawyer.” - hiring partner, Joshua Davis
Callbacks
During callbacks, each candidate will meet with four to six of the firm’s lawyers, partners and associates. The majority of interviews are conducted by members of the hiring committee. Each candidate meets, at least briefly, with one of the hiring partners. At this point, G&S asks questions about areas of interest, life experiences, and career hopes and expectations. The interviews are conversational in nature, so candidates can expect to have a real sense of the people they meet.
Top tips for this stage:
“Be thoughtful in your answers and in your preparation. We value that quality in our colleagues and we look for it in those who hope to join us.” - hiring partner, Joshua Davis
Summer Program
The summer program consists of educational seminars, social events, client meetings and work assignments. Summers get assignments in all practice areas, so they have a chance to learn about the work G&S does and have the opportunity to be exposed to as many attorneys as possible. According to hiring sources at the firm, “virtually all summers end up joining the firm.” Yet, as the program is very small, early expressions of interest often prove useful, according to hiring sources. At the end of the summer, summers are asked to rank practice areas in order of preference and, barring some business reason, they are assigned to one of their top choices.
Top tips for this stage:
“Our lawyers are engaged in our practice and in the life of the firm. We urge our summer associates to be as well. Ask questions, engage with your colleagues and take the time to get to know us as we will take the time to get to know you.” - hiring partner, Joshua Davis
Goulston & Storrs
Main areas of work
Real estate, litigation, tax, private clients and trusts, capital markets, bankruptcy, corporate, employment, banking and finance, environmental, intellectual property.
Firm profile
Goulston & Storrs is an Am Law 200 law firm, with offices in Boston, New York and Washington, DC. With over 200 attorneys across multiple disciplines, Goulston & Storrs is nationally recognized for its real estate practice, leading-edge corporate, capital markets and finance, litigation, and private client and trust practices. Our lawyers employ a proven team approach that values client outcomes over individual recognition. The firm’s dedication to providing prompt, practical legal advice, cost-efficiently and tailored to our clients’ business needs, has resulted in Goulston & Storrs being acknowledged for excellence by Chambers USA, BTI’s A-Team for Client Service, Best Lawyers in America and other leading industry rankings.
Recruitment
Law Schools attending for OCIs in 2022:
University of Chicago, University of Michigan, Harvard, Georgetown University, Columbia University, Northeastern University, New York University, Boston College, Boston University, Suffolk University, Howard University School of Law
Recruitment outside OCIs:
We participate in a number of networking events at local law schools; invite students to our office for resume review and mock interviews. We also host a rising 2L reception every June so students from outside Boston can learn more about G&S in advance of OCI. We participate in two diversity recruiting events; the Boston Lawyers Group Job Fair and the Lavender Law Career Fair.
Summer associate profile:
We attract and hire people who: seek a sophisticated and challenging legal practice; are concerned about team success; are willing to work hard.
Summer program components:
As a summer associate, you have a unique opportunity to learn about the legal profession and the Boston area. Expect to live the law firm experience with direct partner and client exposure. Work assignments are substantive and include research and writing assignments, client meetings, conference calls, depositions and attending hearings. Your summer with Goulston & Storrs offers amazing work opportunities throughout several practice areas, assisting the firm’s attorneys.
Social media:
Recruitment website: www.goulstonstorrs.com
Linkedin: goulston-&-storrs
Twitter: @goulstonstorrs
Facebook: GoulstonStorrs
This Firm's Rankings in
USA Guide, 2024
Ranked Departments
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District of Columbia
- Real Estate (Band 2)
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Massachusetts
- Banking & Finance (Band 3)
- Bankruptcy/Restructuring (Band 2)
- Environment (Band 3)
- Labor & Employment (Band 4)
- Litigation: General Commercial (Band 2)
- Real Estate (Band 1)
- Real Estate: Zoning/Land Use (Band 1)
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USA - Nationwide
- Leisure & Hospitality (Band 3)
- Real Estate (Band 5)
- Retail (Band 3)
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