We feel like we’re taking magic Biglaw pills today and having hallucinatory flashbacks to 2006. The good news has been rolling in. Just today, we covered raises at Sheppard Mullin, and a 100% offer rate for D.C. summer associates at Latham & Watkins.
And over at Am Law Daily, Zach Lowe predicts good things for 2011. There will be more summer associate spots to go around next year, law school kiddies:
On-campus interviewing starts in two weeks at some schools, and early indications are that hiring at premier law firms will jump–in some cases by a lot–after plummeting this summer, according to sources at law schools and firms.
Cravath, Skadden, and Ropes & Gray, among others, plan to hire more warm bodies next summer than this one. This summer was dismal, after all, in terms of summer associate hiring, as demonstrated by these charts from the National Law Journal and Am Law Daily.
The upside of hiring fewer summer associates, though, is an increase in the likelihood of all of them getting hired. We’ve had more reports of 100% offer rates from a few firms today, along with fun ways of spreading the good news. Eyewitness accounts, after the jump.
We’re rolling through the Vault 2011 list of the “prestigiest” firms in the land, so that you can comment on what it’s like to actually live, work, and breathe those firms (when you’re not choking on all the prestige in the air).
We’ve covered #1-10 and #11-20. Here’s the next round-up. Now it’s time for the London-based Magic Circle firms to join in the elite fun:
I don’t believe you when you say just about anything anymore because I know that you will lie to a court any time it helps you. I know that. I saw you do it. I know you will do that. You have proven that to me beyond a reasonable doubt.
– Chief Judge James Holderman (N.D. Ill.) of Chicago, berating government lawyers — before a unanimous panel of the Seventh Circuit removed him from the case, in the middle of trial. Judge Richard Posner’s opinion cited Judge Holderman’s abuse of discretion and “unreasonable fury toward the prosecutors.”
Legal Eagle Wedding Watch, like the rest of the nuptial media, is in a state of giddy anticipation over Chelsea Clinton’s upcoming wedding, scheduled for tomorrow in Rhinebeck, NY. We’ll be gobbling up all the juicy details as they leak out, just like the lucky guests will be devouring the vegan and gluten-free fare. Yum!
Chelsea’s big day is one of the social events of the season and is estimated to have up to a $2 million pricetag. This week’s featured weddings may not quite reach that stratospheric territory, but they do have lawyers out the wazoo (unfortunately, neither Chelsea nor her fiancé has a JD; her parents, of course, have two).
The words “The Next Frontier” were added to signal that social media for attorneys is going into its next phase. To Elefant and Black, lawyers can no longer ignore the impact of social media on the law, but rather must embrace it fully. Lawyers will have to deal with this new form of communication in order to be collaborative with one another and responsive to their clients.
So what does this have to do with Biglaw? Social media is more for small firms and solos who need to use these tools to market themselves over the internet, right?
Actually, Elefant and Black believe social media can have a huge impact on Biglaw, especially in regard to its women lawyers. And law professors should read on too — it’s possible that advances in social media will render law review articles irrelevant…
As we’ve been trying to tell people, paying associates less than a $160K starting salary is just not something that Biglaw firms should be doing. Everybody got very excited in 2009 when they thought that there was an opportunity to keep profits high by squeezing entry level associates, but it turns out that pay cuts were a short-sighted move. The vast majority of the Am Law 100 firms never left the $160K scale. The few who did are slowly coming back to the light.
Such is the case with Sheppard Mullin. A couple of weeks ago, we reported that Sheppard was still mucking around in the non-competitive $145K range. Today we’ve received word that Sheppard is doing the right thing by its junior associates and restoring the $160,000 starting salary…
A week ago, we reported that Pepper Hamilton surprised its summer associates with 100% offers at a Friday lunch. Now this is a trend we hope catches on.
And maybe it will. Latham & Watkins surprised its D.C. summers during a rooftop extravaganza, yesterday. A tipster reports:
Last night (Thursday), Latham & Watkins’ D.C. office officially extended offers to 100% of its summer associates during an end-of-summer party on the rooftop of the Donovan House–one of the city’s swankiest spots. The offers came unexpectedly, as summers were under the impression that they would be waiting another week or so, until the conclusion of the programs at Latham’s other national offices, to hear about offers.
Well now, that should lighten the mood.
And Latham D.C. even provided a little extra incentive for summers who accepted their offers on the spot…
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
Non-attorneys would think the stress comes from preparing for a big trial, deposing a hostile witness, or crafting the perfect contract for a picky client.
But that’s nothing compared to the constant, nagging, real-life kind, the kind you get from the day-to-day grind of being a law-abiding attorney.
Connecticut plaintiffs-side boutique litigation firm (12 lawyers) seeks full-time associate with 2-4 years litigation experience, top tier undergraduate and law school education. Journal or clerkship experience a plus; highest ethical standards and strong work ethic required. Familiarity with Connecticut state court legal practice is preferred, but not required.
The firm handles sophisticated, high-end cases for plaintiffs, including individuals and businesses with significant claims in a wide array of matters. Our cases often have important public policy implications, and are litigated in state and federal courts throughout Connecticut. Representative areas of practice include medical malpractice, catastrophic personal injury, business torts, deceptive trade practices and other complex commercial litigation, and products liability.
Additional information can be located on our website, at www.sgtlaw.com.