Outside of law school recruiting, nobody gives me social cachet because of where I work. Otherwise it's more likely to be a negative because people don't like lawyers. They think we're obsessively rule-oriented and thus not fun and cool. Party poopers. You'll get more social cachet by saying you work in banking, VC or some other adjacent field, which is what I say when meeting new people, and it's substantively true since I do transactions.
I just saw a great movie about this, Send Help. Rachel McAdams plays a lawyer who can't acclimate among cool people. Fun movie if you're looking for something to watch.
Don't be that person in the meme, standing in a corner at a party thinking, "they don't know I work at Skadden."