Simpson Thacher & Bartlett: What Law Students Should Know

Simpson Thacher is the firm that helped build the private equity industry. Before Kirkland became the PE volume leader, Simpson Thacher was the original law firm of choice for the largest buyout funds in the world. The firm's relationships with firms like KKR, Blackstone, and other megafunds go back decades, in some cases, to the founding of those funds themselves.

The Basics

• Vault Rank: #10
• Headquarters: New York
• US Offices: New York, Washington DC, Houston, Los Angeles, Palo Alto
• Size: ~1,000 attorneys worldwide
• Starting Salary: $225,000

What They Are Known For

Private equity and M&A are the twin engines. Simpson Thacher represents PE sponsors on their largest, most complex transactions, leveraged buyouts, take-privates, and portfolio company acquisitions that regularly exceed $10 billion. The firm also represents public companies on strategic M&A, often on the same deals where PE funds are bidding.

Fund formation is a distinguishing practice. Simpson Thacher advises PE funds, hedge funds, and other alternative asset managers on raising capital. This is a specialized area that most firms do not do at scale, and Simpson Thacher is one of a small handful of firms that consistently advises on the largest fund raises in the market.

Banking and credit is strong, reflecting the financing side of PE transactions. Litigation is solid, covering securities, antitrust, and commercial disputes. Tax is excellent and integrated into the PE and fund formation work. Real estate has historically been a meaningful practice.

The firm is more concentrated than some competitors. It does not try to be everything to everyone. It focuses on PE, M&A, and fund work, and does those things at the highest level.

Culture and Assignment

Simpson Thacher uses a structured assignment system within departments. Associates join corporate or litigation and receive work through a combination of coordinator assignments and self-sourcing. The system is less free-market than Kirkland but not a formal rotation.

The culture is often described as the friendliest among the V10. Simpson Thacher consistently ranks highly in associate satisfaction surveys, and the firm has a reputation for treating people well. Partners are accessible. The environment is collegial. There is an emphasis on teamwork that feels genuine rather than performative.

This does not mean the hours are light. Simpson Thacher works on the same caliber of transactions as any other top firm, and the demands are commensurate. But the firm makes an effort to ensure that the hours are spent in an environment where people are decent to each other.

Summer Program

Simpson Thacher's summer class is mid-sized, typically 100-130 summers. The program is considered one of the best in BigLaw, consistently receiving high marks for the quality of the work, the social events, and the overall experience.

Summers get meaningful assignments on real deals. The firm invests heavily in the summer program, the events are generous, the mentorship is structured, and partners actively participate.

Offer rates are near 100% in most years. The firm has a culture of commitment to the people it brings on.

Offices

New York is headquarters and where the PE and M&A machines operate. Houston has grown significantly, driven by energy PE and finance work. DC has a regulatory and litigation practice. LA and Palo Alto serve the West Coast market, particularly tech-focused PE deals.

The international offices, London, Hong Kong, Beijing, Tokyo, Brussels, support cross-border transactions. The firm's international footprint is smaller than some competitors, reflecting its focus on serving US PE sponsors rather than building a global full-service platform.

Compensation

Simpson Thacher matches the Cravath scale. $225,000 base for first-years with a $21,000 bonus. Total first-year comp: approximately $246,000.

The firm has occasionally paid above-market special bonuses in strong years. The economics are excellent, Simpson Thacher is one of the most profitable firms in the world on a per-partner basis.

Who Should Apply

Simpson Thacher is the right firm for students who want to do PE, M&A, or fund work at the highest level in a culture that is genuinely friendly. It is the rare firm where you do not have to choose between prestige and personality, you get both.

If you want a firm with a massive geographic footprint or a pure litigation platform, look elsewhere. But if you want to work on the biggest PE deals in the world, be trained by people who have been doing it longer than anyone, and do it all in a place where people actually like their colleagues, Simpson Thacher is the answer.