Cravath is an exceptional place to begin and build your career. Each of OUR PRACTICE areas is regarded as among the finest in the world. Working and training with OUR PEOPLE is the most compelling reason for law students to choose Cravath. The CRAVATH SYSTEM develops law students into highly skilled lawyers with a deep understanding of a broad spectrum of disciplines beginning with our SUMMER PROGRAM, which provides law students with an experience that mirrors the life of a first-year associate. For exceptional law students eager to face the challenge of practicing law at the highest level, LIFE AT CRAVATH is the logical next step.
CRAVATH SYSTEM
Every Cravath lawyer is a product of the CRAVATH SYSTEM.
Throughout our more than 185-year HISTORY, Cravath has been recognized as a premier American law firm, developing the finest lawyers. The hiring, training, compensation and promotion of our lawyers share a common source and serve the same goal. Other firms may borrow parts of the Cravath System; none can implement it in its entirety. The extra, often difficult, steps we take to develop our lawyers require the special sense of purpose we have at Cravath.
From its earliest days, the Cravath System was designed to produce lawyers with breadth, sophistication and a deep working knowledge of a wide variety of practice areas. We accomplish this through our unique system of ROTATIONS. When combined with traditional TRAINING sessions, our lawyers acquire critical skills and experience with the Cravath System IN PRACTICE.
CRAVATH SYSTEM // HISTORY
Cravath’s HISTORY spans nearly two centuries.
Early in the 20th Century, Paul Cravath created the model for the modern law firm. Cravath hired law students based solely on their accomplishments and talents and not their lineage or their connections. The mission of Cravath’s system was to train associates rigorously and promote exclusively from within. To this day, the Cravath System uses a series of escalating challenges to foster the professional growth of talented, young lawyers. We see the result of our system every day — young law students who quickly develop into outstanding Cravath lawyers fully prepared to deliver the sophisticated solutions our clients need. Click to view our interactive TIMELINE.
CRAVATH SYSTEM // HISTORY // TIMELINE
TIMELINE
The Timeline is not available for printing.
CRAVATH SYSTEM // ROTATIONS
ROTATIONS are the linchpin of the Cravath system.
We hire associates at the beginning of their legal careers, directly after law school or clerkships. Upon arrival, each associate chooses one of our five departments: Corporate, Litigation, Tax, Executive Compensation and Benefits, or Trusts and Estates. Regardless of the department, each associate is assigned to work with a partner or group of partners for a period of time. At the end of that period, that associate switches — or “rotates” — to work with a different partner or group of partners. Associates continue to rotate throughout their tenure with the Firm. Each of our lawyers acquires critical skills and experience, because the rotation system immerses him or her in all facets of the department’s practice.
Our rotations are designed to challenge associates with a variety of professional experiences, through which Cravath lawyers develop a broad and deep range of skills. By contrast, most other law firms provide narrowly-focused training that exposes associates to different practice areas for very brief periods before requiring a specialization. Our clients’ legal needs are too intricate and draw on too many disciplines to be well served by lawyers trained within a narrow specialty area. For this reason, we have chosen to avoid specialization. Instead, we invest in the continuing development of our lawyers. Our system is designed to develop counselors, professionals with diverse areas of knowledge and experience, who provide comprehensive answers to our clients’ most complex needs.
Our rotations are carefully managed by the Corporate and Litigation Managing Partners, and the leaders of the Tax, Executive Compensation and Benefits, and Trusts and Estates Departments. This group of partners schedules rotations with one objective: each associate’s professional development. The Firm’s short-term needs do not influence the rotation schedules. Rather, we ensure that you are continually exposed to new areas within your department.
We forsake the easy, efficient road and choose the more difficult, time-consuming path because we believe the development of our lawyers is our most important long-term objective. No matter which department you select, the benefits of the Cravath System are the same — a partner will always directly oversee your training and development, and each assignment will add to your ability to master an entire deal or case.
Every aspect of the Cravath System promotes collaboration. Because the rotation system removes the need for associates to compete for work, visibility and bonuses, our environment, while demanding, is uniquely cooperative. Ask a current Cravath associate what he or she likes best about the rotation system, and you will learn that being assigned to an individual partner requires you to work hard when necessary but never for the sake of appearing busy. You will also learn that the system provides the broad experience you need to develop sound legal and business judgment through the support of a community of professionals.
Associates participate in the rotation system throughout their entire tenure with the Firm. When the time arrives to be considered for election to the partnership, they have experienced the full spectrum of their department’s practice and are prepared to serve almost any of our clients’ needs. Because of this, partnership decisions are not based on the Firm’s immediate needs in a particular practice but rather on each associate’s own proven record of accomplishment.
CRAVATH SYSTEM // TRAINING
When law school ends, the next phase of legal TRAINING begins.
As powerful as our rotation system is, it becomes more meaningful when supplemented by our traditional training programs that are practical, substantive and designed to prepare and support our associates. Each department — CORPORATE, LITIGATION, TAX, EXECUTIVE COMPENSATION AND BENEFITS and TRUSTS AND ESTATES — schedules sessions throughout the year.
Throughout the year, we schedule classes that allow lawyers to earn their required New York State Continuing Legal Education (CLE) credits. Some sessions cover basic topics important to new lawyers, while others provide detailed instruction in specific areas for lawyers at all levels. Classes are conducted by partners, senior associates and outside experts on a wide range of topics. All five of our departments offer training programs for their associates, and all lawyers are welcome to attend sessions in practice areas outside their own.
In addition to classroom-based learning, Cravath’s Online CLE Center offers access to prerecorded streaming video of all the Firm’s current CLE sessions for viewing over the Internet, either from within or outside of Cravath’s offices. Each session is presented in high-quality video and audio and, depending on the topic, includes synchronized slide decks, speaker biographies, links to PDF versions of course materials and access to current, individual CLE credit summaries. Many CLE-eligible sessions are available in VHS or DVD formats for viewing at any time.
Our training rooms are equipped with state-of-the-art technology and offer a comfortable learning environment for large groups of lawyers. We are particularly proud of our permanent, 1,500 square-foot courtroom, complete with jury box, witness stand, counsel tables, video cameras and gallery. The space is used by our litigators for continuing education courses, pre-trial rehearsals and real-life arbitration and mediation.
CRAVATH SYSTEM // IN PRACTICE
The Cravath System IN PRACTICE provides the best post-graduate education a lawyer can get.
Regardless of which department an associate selects — CORPORATE, LITIGATION, TAX, EXECUTIVE COMPENSATION AND BENEFITS or TRUSTS AND ESTATES — Cravath lawyers are supported from their first days at the Firm by comprehensive training programs that combine with our hands-on mentoring to provide our lawyers with practical insights, continuing guidance and sophisticated tools to shape their practice.
CRAVATH SYSTEM // IN PRACTICE // CORPORATE
Through several rotations, CORPORATE associates confront a range of challenges.
The Corporate Department is divided into 12 practice groups, most of which consist of three to six partners. The groups are organized around specific areas of practice, such as mergers and acquisitions, general corporate, securities, banking, restructuring or real estate. Each CORPORATE ROTATION usually lasts between 12 and 18 months. Over the course of each corporate rotation, you become highly experienced in that area, learning in depth both substance and strategies.
Through several rotations, you will confront a range of challenges and master steep learning curves on your way to developing into an outstanding corporate lawyer fully versed in all facets of deals.
Rotations to Cravath’s London office are available to those interested in practicing abroad. In London, you remain fully supported by the New York office via the Firm’s integrated systems, and you can experience the dynamism of a smaller office within a big firm practice. Associates usually complete one rotation in New York before rotating to London.
CRAVATH SYSTEM // IN PRACTICE // LITIGATION
LITIGATION associates learn all aspects of litigation, from pre-complaint investigation through appeals, across a broad range of case types.
Cravath litigators work in teams of partners and associates assembled in response to the needs of the complex cases we handle. Although assigned to one partner at a time, associates will typically work with other partners during an assignment period because partners often work together on particular cases. A LITIGATION ROTATION usually lasts 18 months. Because the partners do not specialize in any particular type of litigation, each associate will work on a broad range of cases during the course of his or her work at the Firm.
CRAVATH SYSTEM // IN PRACTICE // TAX
TAX associates gain responsibility and autonomy while working directly with clients, corporate lawyers and investment bankers.
Tax Department rotations are accomplished by rotating the responsibility for an associate’s work and training from one small group of tax partners to another group of tax partners. The rotations are designed to ensure that each associate experiences each facet of our tax practice, avoiding concentration in a narrow specialty area. At the outset, an associate generally receives work assignments directly from one tax partner and works closely with him or her. Over the course of several rotations, each associate will work with all of the partners in the Tax Department.
CRAVATH SYSTEM // IN PRACTICE // EXECUTIVE COMPENSATION AND BENEFITS
EXECUTIVE COMPENSATION AND BENEFITS associates work directly with both of the department’s partners on all aspects of our practice.
From the beginning of their careers, our associates are immersed in the tax, ERISA, securities law and other substantive legal areas of our work and are quickly exposed to the wide range of corporate transactions handled by the Firm. Associates are encouraged to take on responsibility for drafting and negotiating agreements, advising clients and working with the Firm’s corporate lawyers.
CRAVATH SYSTEM // IN PRACTICE // TRUSTS AND ESTATES
TRUSTS AND ESTATES associates work on a wide variety of issues for and with our private clients.
Under the guidance of the department’s partners, associates are trained in trust and probate law, and learn to design and draft wills and trust documents. Because our trusts and estates lawyers advise individuals, private corporations, partnerships and charitable organizations in all aspects of their operations, our associates are exposed to, and become highly experienced in, other areas such as corporate law, tax law and estate planning.