Wachtell, Lipton, Rosen & Katz · Wachtell, Lipton, Rosen & Katz 2020 VAULT/MCCA LAW FIRM DIVERSITY...

Since its founding in 1965, our Firm has been committed to diversity

and inclusion. That commitment is reflected in our policies and, more

importantly, in our practices. We are especially proud of our success in

promoting diverse attorneys to partnership over the past eleven years.

We are unwavering in our effort to promote diversity

and inclusion in the profession and are proud to support the

Vault/MCCA Law Firm Diversity Database.

Wachtell, Lipton, Rosen & Katz

Response to Spring 2020 Vault/MCCA Law Firm Diversity Survey. Complete survey results available in Law Firm Diversity Database

(http://mcca.vault.com). Copyright © 2020 Vault.com Inc. and Minority Corporate Counsel Association, Inc. All rights reserved.

Wachtell, Lipton, Rosen & Katz

2020 VAULT/MCCA LAW FIRM DIVERSITY SURVEY

51 West 52nd StreetNew York, NY 10019Phone: 212-403-1000Fax: 212-403-2000www.wlrk.com

LOCATIONSNew York, NY

DIVERSITY LEADERSHIPHead(s) of Firm: Edward D. Herlihy, Executive Committee Co-Chair; Daniel A. Neff, Executive Committee Co-ChairDiversity team leader(s): Jeannemarie O'Brien, Diversity Committee Co-Chair; Marc Wolinsky, Diversity Committee Co-Chair

NUMBER OF ATTORNEYSTOTAL NUMBER OF ATTORNEYS

Currently As of December 31, 2019

Worldwide 254 268U.S. offices only 254 268

Wachtell, Lipton, Rosen & Katz2020 VAULT/MCCA LAW FIRM DIVERSITY SURVEY



Law Firm Demographic Profile

Does your firm have more than one tier of partnership?

No

ASSOCIATES (2019) SUMMER ASSOCIATES (2019)

Men Women

White/Caucasian 56 43African-American/Black 13 3

Hispanic/Latinx 3 5Alaska Native/American Indian 0 0

Asian 6 16Native Hawaiian/Pacific Islander 0 0

Multiracial 3 2Openly LGBTQ 2 2

Individuals with Disabilities 1 0Total 81 69

Men Women






EQUITY PARTNERS (2019) NON-EQUITY PARTNERS (2019)

Men Women






Men Women

White/Caucasian n/a n/aAfrican-American/Black n/a n/a

Hispanic/Latinx n/a n/aAlaska Native/American Indian n/a n/a

Asian n/a n/aNative Hawaiian/Pacific Islander n/a n/a

Multiracial n/a n/aOpenly LGBTQ n/a n/a

Individuals with Disabilities n/a n/aTotal n/a n/a

OF COUNSEL (2019) NEW HIRES (2019)

Men Women






Men Women









Strategic Plan and Diversity Leadership

How does the firm's leadership communicate the importance of diversity to everyone at the firm?

The Firm maintains a culture of informal communication on all matters including diversity. All incoming associates and summer associates receive copies of our policies andattend orientation presentations in which the firm's policies on diversity are clearly communicated. Those policies are also posted on the firm's intranet where they are accessibleto all employees. Further, the firm's attorneys, support staff management, and support staff have all participated in diversity training seminars that stress the importance andadvantages of diversity. In addition, diversity heritage month programming is sponsored by senior partner leadership and attended by a broad cross-section of partners and allpersonnel, which also sends the message that diversity is important.

Who has primary responsibility for leading diversity initiatives at your firm?

Jeannemarie O'Brien and Marc Wolinsky, Diversity Committee Co-Chairs; Kisha Nunez, Director of Diversity and Associate Director of Legal Recruiting

Does your law firm currently have a diversity committee?

Yes

If yes, do one or more members of the firm's management/executive committee (or the equivalent) serve on the diversity committee?

No

If yes, how many attorneys are on the committee, and in 2019, what was the total number of hours collectively spent by the committee in the furtherance ofthe firm's diversity initiatives?

Total attorneys on committee: [No response]Total hours spent on diversity: [No response]Comments: We do not track these hours, but the committee does meet quarterly and on an ad hoc basis depending on the tasks and initiatives undertaken.

Does the committee and/or diversity leader establish and set goals or objectives consistent with management's priorities?

Yes

Has the firm undertaken a formal or informal diversity program or set of initiatives aimed at increasing the diversity of the firm?

Yes

If yes, is it formal or informal?

Formal

How often does the firm's management review the firm's diversity progress/results?

Annually

How is the firm's diversity committee and/or firm management held accountable for achieving results?

The firm's Diversity and Management Committees are accountable to the partnership as a whole. Presentations of the committee's initiatives, progress, and firm demographics aremade on a regular basis. In addition, they are responsible for reporting our diversity information to various organizations and to client upon request.

Is your firm minority-owned or women-owned?

No




Law Firm Diversity Initiatives

INITIATIVES FOR ALL DIVERSE ATTORNEYS

AlreadyCompleted

CurrentlyAddressing

Not a CurrentPriority

X Undertake communication from firm management that diversity is a top priority of the firm

X X Formalize diversity plan and committee with action steps and accountability to management

X X Conduct firmwide mandatory diversity training for all attorneys and staff annually

X X Implement bias interrupters with respect to hiring/assignments/evaluations/compensation reviews/promotions/etc.

X X Focus on strengthening firm's mentoring program

X Conduct internal diversity needs assessment (e.g., culture and environment surveys) and/or retain diversityconsultant to examine how firm culture might be more welcoming of minorities

X X Support law firm's internal affinity networks

X Hire a director of diversity or other full-time professional to implement the firm's diversity program

X Coordinate or work with clients on diversity issues

X X Develop/expand relationships with minority bar associations and other legal diversity organizations to offerfirm's support of these networks





INITIATIVES SPECIFICALLY FOR MINORITY ATTORNEYS

AlreadyCompleted

CurrentlyAddressing


X X Increase the number of minority attorneys at the associate level

X X Increase the number of minority attorneys at the partnership level

X Increase the number of minority attorneys in leadership positions

X X Focus on strengthening firm's mentoring program for minority attorneys

X X Manage/monitor allocation of work assignments and/or hours billed to ensure minority attorneys have equalaccess/inclusion on top client matters

INITIATIVES SPECIFICALLY FOR WOMEN ATTORNEYS

AlreadyCompleted

CurrentlyAddressing


X Institute a formal part-time policy that addresses partnership prospects

X X Increase the number of women at the associate level

X X Increase the number of women at the partnership level

X X Increase the number of women in leadership positions

X X Focus on strengthening firm's mentoring program for women

X X Manage/monitor allocation of work assignments and/or hours billed to ensure women have equal access/inclusion to top client matters

X X Provide accommodations specific to mothers (e.g., lactation rooms)

Implement policies to address gender pay equity





INITIATIVES SPECIFICALLY FOR OPENLY LGBTQ ATTORNEYS

AlreadyCompleted

CurrentlyAddressing


Offer same-sex domestic partners the same benefits available to married individuals

X X Increase the number of LGBTQ attorneys at the associate level

X X Increase the number of LGBTQ attorneys at the partnership level

X X Increase the number of LGBTQ attorneys in leadership positions

X X Focus on strengthening firm’s mentoring program for LGBTQ attorneys

X X Manage/monitor allocation of work assignments and/or hours billed to ensure LGBTQ attorneys have equalaccess/inclusion on top client matters

X X Ensure that EEO and non-discrimination policies specifically address gender identity

X Provide accommodations for LGBTQ attorneys (e.g. bathroom facilities)

INITIATIVES SPECIFICALLY FOR ATTORNEYS WITH DISABILITIES

AlreadyCompleted

CurrentlyAddressing


X X Increase the number of attorneys with disabilities at the associate level

X Increase the number of attorneys with disabilities at the partnership level

X Increase the number of attorneys with disabilities in leadership positions

X X Focus on strengthening firm’s mentoring program for attorneys with disabilities

X X Manage/monitor allocation of work assignments and/or hours billed to ensure attorneys with disabilities haveequal access/inclusion on top client matters




X X Ensure that EEO and non-discrimination policies specifically address individuals with disabilities

X Implement accommodations for current and future attorneys with disabilities (e.g., access, technology, etc.)




Pipeline Initiatives

Does your firm actively engage in initiatives to feed the diversity pipeline by encouraging minority students to consider law as a career and/or assisting themin pursuing such opportunities?

Participate in established pipeline programs, such as SEO, Legal Outreach, Prep for Prep or Street Law

Fund scholarships for minority high school or college students

Mentor minority high school or college students

Participate in or host mock trial programs or career events

Provide internships or employment to minority high school or college students

Outreach to middle school students

Please discuss any additional efforts to reach out to diverse undergraduates, high school, middle school or grade school students.

[No response]




Recruitment - New Associates

Does your firm annually recruit at any of the following types of institutions?

Ivy League law schools: Columbia Law School, Cornell Law School, Harvard Law School, University of Pennsylvania Carey Law School, Yale Law School

Other private law schools: University of Chicago Law School, Duke Law School, Georgetown University Law Center, New York University School of Law, NorthwesternUniversity Pritzker School of Law, Stanford Law School

Public state law schools: UC Berkeley School of Law, University of Michigan Law School, University of Virginia School of Law

Law schools of Historically Black Colleges and Universities (HBCUs): None

Diversity job fairs: Lavender Law Career Fair

Do you have any special outreach efforts directed to encourage minority law students to consider your firm?

Hold a reception for minority students

Advertise in minority law student association publications

Participate in or host minority law student job fairs

Sponsor minority law student association events

Firm lawyers participate on career panels at schools

Outreach to leadership of minority student organizations

Scholarships or intern/fellowships for minority students

Other (please specify)

Do you have any programs specifically targeted at first-year students?

The firm hosts a 1L Summer Associate Diversity Program, which offers a small number of students from underrepresented groups an opportunity to work at the firm during their1L summer. The program is open to all students who possess a proven track record of academic success and leadership ability, excellent writing skills, and an interest in ourpractice.




Recruitment - New Associates

ALL 2L SUMMER ASSOCIATES (2019) OFFERS MADE* (2019)

* Summer associates who received an offer of full-time employment

Men Women






Men Women






OFFERS ACCEPTED* (2019) NEITHER ACCEPTED NOR DECLINED (2019)

* Summer associates who accepted an offer of full-time employment * Summer associates who neither accepted nor declined an offer of full-timeemployment because of postgraduate clerkship/fellowship

Men Women






Men Women









Recruitment - Lateral Associates and Partners

LATERAL ASSOCIATE HIRES (2019) LATERAL OF COUNSEL HIRES (2019)

Men Women






Men Women






LATERAL PARTNER HIRES* (2019) NEW PARTNERS PROMOTED* (2019)

* Both equity and non-equity * Both equity and non-equity promoted from associate or of counsel rank

Men Women






Men Women






NEW EQUITY PARTNERS* (2019)

* Whether hired laterally or promoted from within

Men Women









Recruitment - Lateral Associates and Partners

What activities does the firm undertake to attract diverse attorneys?

Partner programs with women, minority, LGBTQ or disability-focused bar associations

Participate at diversity job fairs

Attend events at diversity legal organizations

Seek referrals from other attorneys

Utilize online job services (e.g., MCCA Job Bank)

Hire recruiting professional who specializes in identifying diverse candidates

Firm is Mansfield Rule certified

If the firm is not Mansfield Rule certified, does it plan to be certified?


Do you use executive recruiting/search firms to seek to identify new diversity hires (partners or associates)?

Yes

If yes, are any of these executive recruiting/search firms women and/or minority-owned?

Yes

If yes, list all women and/or minority-owned executive search/recruiting firms to which the firm paid a fee for placement services in the past 12 months:

[No response]




Retention and Professional Development

A T T O R N E Y S W H O L E F T T H E F I R M I N 2 0 1 9

1ST-YEAR ASSOCIATES 2ND-YEAR ASSOCIATES

Men Women






Men Women






3RD-YEAR ASSOCIATES 4TH-YEAR ASSOCIATES

Men Women






Men Women






5TH-YEAR ASSOCIATES 6TH-YEAR ASSOCIATES

Men Women






Men Women










A T T O R N E Y S W H O L E F T T H E F I R M I N 2 0 1 9

7TH-YEAR ASSOCIATES 8TH-YEAR PLUS ASSOCIATES

Men Women






Men Women






OF COUNSEL NON-EQUITY PARTNERS

Men Women






Men Women






EQUITY PARTNERS

Men Women










Please identify the specific steps you are taking to reduce the attrition rate of diverse attorneys.

Develop and/or support internal employee affinity groups (e.g., networks within the firm for minorities, women, LGBTQ attorneys, or individuals with disabilities)

Increase/review compensation relative to competition

Implement procedures to ensure gender pay equity

Increase/improve current work/life programs

Adopt dispute resolution process

Succession plan includes emphasis on diversity and greater inclusion of minority men and women in firm leadership

Work with diverse attorneys to develop career advancement plans

Introduce diverse attorneys to key clients, including to lead engagements

Review work assignments and hours billed to key client matters to make sure diverse attorneys, particularly minority attorneys (for whom research indicates a greaterinclusion problem), are not being excluded

Strengthen mentoring program for all attorneys

Professional skills development program for all attorneys

Provide a gender-neutral parental leave policy that covers adoptions


Does your firm have part-time/flex-time policies that permit attorneys (male or female) to work alternative schedules?Yes

What impact, if any, will the decision to work part time have on an attorney's ability to make a partner, or if already a partner, to remain a partner at yourfirm?

All of our partners and partnership-track associates work full-time schedules. Part-time associates may resume full-time work to rejoin the partnership track.

How many current equity partners have worked part time, exclusive of maternity/paternity leave or short-term disability?

1





PART-TIME ATTORNEYS PART-TIME ATTORNEYS TOTAL NUMBER OF ATTORNEYS(2019) Men Women Total (full and part-time)

Associates 0 5 5 150

Of counsel 0 2 2 33

Non-equity partner n/a n/a n/a n/a

Equity partner 0 0 0 85




Management Demographic Profile

F I R M W I D E C O M M I T T E E S 2 0 1 9

EXECUTIVE/MANAGEMENT COMMITTEE* HIRING COMMITTEE*

* Attorneys on the Executive/Management Committee or equivalent * Attorneys on Hiring Committee or equivalent

Men Women






Men Women






PARTNER REVIEW COMMITTEE* ASSOCIATE REVIEW COMMITTEE*

* Attorneys on the Partner Review Committee or equivalent * Attorneys on the Associate Review Committee or equivalent

Men Women






Men Women






ATTORNEYS ON THE DIVERSITY COMMITTEE OREQUIVALENT

Men Women









Management Demographic Profile

O T H E R L E A D E R S H I P R O L E S

Leadership positions (2019) U.S. office headsPractice group/

department leaders Committee leaders

Total number of positions 2 9 4

Number of such positions held by:

Minorities 0 0 0

Women 0 2 2

LGBTQ attorneys 0 0 1

Individuals with Disabilities 0 0 0

Please provide information regarding all diverse attorneys who currently head offices, practice groups and committees. Enter responses inthe following format: Attorney, Office location/Practice group/Committee (No. of attorneys in office/practice group/committee).

U.S. OFFICE HEADS

How many offices does your firm have in the United States? 1

Minorities heading offices: [No response]

Women heading offices: [No response]

LGBTQ attorneys heading offices: [No response]

Individuals with Disabilities heading offices: [No response]

PRACTICE GROUP/DEPARTMENT LEADERS

Minorities heading practices: [No response]

Women heading practices: Jeannemarie O'Brien, Executive Compensation & Benefits (10); Jodi J. Schwartz, Tax (11)

LGBTQ attorneys heading practices: [No response]

Individuals with Disabilities heading practices: [No response]

COMMITTEE LEADERS

Minorities heading committees: [No response]

Women heading committees: Jeannemarie O'Brien, Diversity Committee (17); Jodi J. Schwartz, Associate Development Committee (13)

LGBTQ attorneys heading committees: Marc Wolinsky, Diversity Committee (17)

Individuals with Disabilities heading committees: [No response]




The Firm Says

Wachtell, Lipton, Rosen & Katz is strongly committed to fostering a diverse and inclusive work environment that supports the recruitment, retention and advancement of womenand men of all backgrounds, at all levels of the Firm.

We are an original signatory to the New York City Bar's Statement of Goals for Increasing Minority Representation and Retention. The Firm is committed to recruiting a diverseand talented body of lawyers considering diversity in its broadest form. We were one of the first New York City law firms to offer health benefits to domestic partners andcurrently offer benefits to transgender individuals.

Diversity Committee

• The Firm has a Diversity Committee, which provides guidance and recommendations on policies, procedures and specific action steps to meet our objectives with regard todiversity and inclusion. Including, our gender neutral parental leave policy and our conscious decision to forego a 100% score on the HRC's Corporate Equality Index (CEI)because it would have required us to institute domestic partner benefits. We believe that for a Firm like ours, with a single office in New York, instituting domestic partner benefitswould be a move backwards, not forwards.

• Our Diversity Committee often works in conjunction with our Associate Development Committee to increase development initiatives for all associates. Most significantly, as afunction of our already established mentoring program the Associate Development Committee works closely with the Diversity Committee to foster good work allocation and skilldevelopment.

Diversity Initiatives and Programs

• All of our attorneys, administrative directors and managers and support staff have participated in a diversity training program. This program was custom designed for our Firm tofoster appreciation of diversity and its importance to us as a Firm. In addition, all summer associates and entering new attorneys go through the program.

• The Firm compensates its lawyers using a strict lockstep model by class year regardless of gender.

• Since 2009, we have hosted a series of heritage month recognition presentations at the Firm. We have been fortunate to welcome General Counsel of Fortune 500 Companies,Presidents and Directors of prominent public interest groups, Circuit Court Judges and Law School Professors.

• We actively encourage and support affinity group meetings among our attorneys. While informal in nature, these forums have proven to be a good way for attorneys to gettogether to discuss shared concerns and work toward a common goal. Currently, we have groups that represent our Women, African-American, Asian-American, Latinx, LGBTQand Veteran attorneys.

• We support the professional development of our diverse associates by sponsoring and/or nominating them to programs like the Council on Urban Professionals (CUP) ExecutiveLeadership Institute and the NYC Bar Associate Leadership Institute.

• We have administered a 1L Summer Associate Diversity Program for more than 17 years, which has produced a number of full-time associate hires.

• The Firm has been an active participant in various school-sponsored minority job fairs. We are also proud sponsors of the Lavender Law Career Fair. Throughout the year, we arealso proud sponsors of numerous student affinity group activities, panels and conferences at various schools throughout the country.

• We have been a partner firm in the Seizing Every Opportunity (SEO) Law Fellowship Program since 2007. A number of these summer interns have gone on to become full-timeassociates. We also participate in and are benefactors for the Prep for Prep Internship Program and the Legal Outreach Summer Internship Program. In the past, the firm has alsoparticipated in the NYC Bar Thurgood Marshall Summer Law Internship Program and the Inner-City Scholarship Fund.

• We are proud to report that we were one of five pilot firms that participated in the NALP/Street Law program in 2009 and continued and expanded our involvement in recentyears.

• We are a founding member of the Kate Stoneman Project (KSP), whose mission is to provide a forum to address issues regarding the advancement of women in the legalprofession. As such we are an active participant in the group's programming for attorneys and law school students.

• We are sponsoring corporate members of the National Association of Women Lawyers (NAWL), giving our women attorneys full access to their programming and networkingopportunities.

• We are members of the Leadership Council on Legal Diversity (LCLD) and have nominated attorneys to participate in their Fellows, 1L Scholars and Pathfinders Programs.

• Our diverse and women attorneys take on leadership roles which include membership on the boards and committees of various bar associations and organizations such as theAsian American Bar of New York (AABANY), the Korean American Lawyers Association of Greater New York (KALAGNY), and the LatinoJustice PRLDEF, to name a few.

• Our attorneys are often recognized by various legal organizations and publications for exemplary work in their respective practice areas. Within the past year several of ourwomen and diverse attorneys have been named to the Rising Stars lists for Law 360 and the New York Law Journal. A number were also recognized as a Thought and/or GlobalLeader for Who's Who Legal.

Recognition

• In 2020, we were recognized among the Top Firms for Inclusion Initiatives by the Yale Law Women's Top Firms for Gender Equity & Family Friendliness Report. Previouslyin2018, in the same report we received category honors for Leadership & Promotions, acknowledging that at least 50% of attorneys promoted to equity partner in 2017 were women.And in 2014, in the same survey we received category honors for Utilization of Part-Time.

• In 2014 & 2015, we were recognized by American Lawyer as one of The Top Firms for Diversity.

• From 2008-2018, we have received a 100% rating on the Corporate Equality Index (CEI) as surveyed by the Human Rights Campaign.

Wachtell, Lipton, Rosen & Katz · Wachtell, Lipton, Rosen & Katz 2020 VAULT/MCCA LAW FIRM DIVERSITY...

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