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Category: Salary & Benefits

Vault's Top 10 Blogs of 2012

From The Monitor Group and Dewey & LeBoeuf bankrupcies to a simple act of ingenuity at Krispy Kreme donuts, 2012 has been a big year in career news. Revisit some of your favorite stories and advice blogs with our list of Vault's Top Read blogs of the year, 2012: 1. 6 Trickiest Interview Questions and How to Nail Them Guesstimates and brainteasers are two types of interview questions commonly asked by Wall Street firms, consulting firms, and tech firms. Read More >

Quick! Get into Harvard Law School While You Can!

Yesterday, Professor Jonathan D. Glater of the University of California, Irvine, School of Law, wrote in the New York Times that right now is, in fact, a great time for you to apply to law school. Not because the economy is on the upswing or because legal hiring is predicted to grow in the next few years-but because it's easier to get in. Why is it easier to get in to law school right now? Because fewer people are applying. And why are fewer people applying? Read More >

It’s Law Firm Bonus Time!

The Thanksgiving leftovers are dwindling and law firm associates are back to work today-that is, if they weren't in the office all weekend. And on the exact same day as it did last year, top law firm Cravath, Swaine & Moore kicked off bonus season by announcing associate bonuses for 2012. If the last several years are any indication, it won't be long until most every other New York BigLaw firm follows suit and offers associates-surprise!-exactly the same amount of money. Read More >

Monitor Bankruptcy: What the Employees Knew

The Monitor Group's recent bankruptcy announcement took many in the business community by surprise. That's not unusual, given that the firm-like many in the consulting industry-was privately held and therefore not under any obligation to release financial reports. But what about the people inside the firm? How much did the consultants-business experts all-know or suspect about the state of the firm's finances? That's a question that we at Vault are almost uniquely qualified to answer. Read More >

4 Reasons You Should (Still!) Take an Internship

Internships have been in the spotlight a lot lately, but for all the wrong reasons: unhappy interns. It's not a new story-interns have long gone unpaid, unthanked, and sent on one too many coffee runs. But a recent slew of class action suits raises the question: where does opportunity end and exploitation begin? Though it's up to the courts to decide what's fair labor in the realm of interning, you should know that not all unpaid gigs are equal. Read More >

All's Fair in Love, War, and Layoffs

Although 25 consecutive months of job growth suggests that the economy is getting back on its feet, that doesn't mean there aren't scores of people still losing jobs by the day, if not the minute. And perhaps nowhere is that happening in greater numbers than on Wall Street. Of course, given that Wall Street is largely responsible for putting the U.S. Read More >

The 2012 Internships Rankings Are Here!

Internships are tricky. You know you should have one, but you've also heard that they can go off the rails, specifically to unpaid-menial-labor-land. You might not want to waste your winter break on an internship that doesn't give you any new skills or training. Or maybe your biggest fear is investing time and energy into a company name won't pop on your resume. Maybe you're just fulfilling a program requirement for school-it which case cushy perks are your priority. Read More >

The 2013 Vault Europe Consulting Rankings Are Here!

The economic situation in Europe might still be the largest of the "known unknowns" facing the world's economy. Seemingly balanced on a knife-edge, anything other than positive news from the likes of Greece, Spain, Portugal and Italy has the potential to send world markets into chaos-to say nothing of conditions within some of those countries (unemployment currently stands at 11. Read More >

Is Lockstep Compensation the Key to Happy Associates?

As part of its special section on the future of BigLaw, the New York Times examined the culture at firms that have held on to a pure lockstep compensation structure-for both partners and associates. According to the managing partners at Cravath, Cleary and Debevoise, the lockstep system-in which attorneys are paid solely according to their seniority instead of according to merit-based criteria-fosters a culture of transparency, collegiality and teamwork. Read More >

Which Wall Street Bank Treats Its Employees Best?

In Vault's 2012 Banking Survey, along with prestige, 3,500 banking professionals were asked to rate their own firms on a scale of 1 to 10 in several quality of life categories, including compensation, benefits, hours, work/life balance, international opportunities, training, overall job satisfaction, and business outlook, among others. Vault averaged the scores for each firm in each category and ranked the top 20 firms. Read More >

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