Over the summer, we wondered: what can law firms do to prepare for a possible double-dip recession?
One obvious answer: firms can “right-size” themselves, by making sure that they are as lean and as mean as they can be. And this seems to be what has been happening over the past few months.
We haven’t seen much in terms of lawyer layoffs lately, but staff layoffs are another story. In fact, on the staff side, we seem to be looking at a trend of firms reducing their permanent staff positions in favor of outsourcing.
The National Association for Law Placement (NALP) has produced an extremely useful chart for people trying to figure out where to start their Biglaw careers. They’ve listed the cities that give you the most bang for your buck if you land a high paying Biglaw job.
The NALP “buying power index” sets New York as the baseline. It takes the median starting salary for the class of 2010 and the NYC cost of living index and sets that figure at 1.00. Cities with a better purchasing power than NYC have a value greater than 1.00.
New York ranks #42.
Most of the high-ranking cities also have the benefit of warmth….
* Leah Ward Sears, who shows up on SCOTUS shortlists, wants to impose a mandatory waiting period… on divorces. It’d be interesting to live in a country where you had to wait for a year to get rid of your spouse, but not to buy a gun. [Slate]
* Speaking of marriage…. Tara Reid was maybe engaged to an accountant? [Going Concern]
* Trust me, nobody buys off your ATL bloggers. Without us disclosing it. Because it’s not a bribe if you like money and don’t care who knows about it. [Gawker]
* The study doesn’t say that fat people are more likely to miss work; it says that unhealthy people are more likely to miss work. That’s why I discriminate against thin little stress balls that have a conniption every time they see a slice of chocolate cake. [Business Insider]
* Wait, we have a prison rape elimination act? Did we only just now decide that prison rape should be stopped? But it doesn’t apply to everybody in prisons? I’m so confused. [ACLU: Blog of Rights]
* At least Ken Jennings isn’t going to law school. [Ken Jennings]
It’s late October, so Biglaw bonus news could drop any day now. In 2010, Cravath didn’t kick off the season until November 22. But back in 2009, Cravath announced bonuses on November 2. And in 2007 — yes, the glory days, before the Great Recession — Cravath announced bonuses, regular and “special,” on October 29.
In light of the economic gloom and doom, including the possibility of a double-dip recession, it wouldn’t be shocking if bonuses are modest this year. Better to conserve the cash and avoid layoffs, right? Or maybe repeat what happened in 2010 and save some money for spring bonuses in a few months, when firms might have a better idea of the direction of the economy?
Regardless of how bonuses turn out, there are other pockets of good news in the world of large law firms — even news requiring law firms to open their wallets. Check out the growing number of firms that offer the perk we’ve dubbed the gay gross-up….
A beautiful creature that would gladly eat the animals PETA tries to save.
Animals are not people.
If a PETA person had been sitting next to me when I wrote that, he’d smugly say: “You know, some people said the same thing about black people 200 years ago.” At that point, I would grab the PETA person by the neck with my left hand, pimp slap him across his face with my right hand, throw him down on the ground, and then bellow: “How dare you, sir!”
That’s because I’m a person. And while I acknowledge the historical reality that many people didn’t think black people were “people” at various times in history, that thinking never changed the underlying truth that the color of one’s skin had nothing to do with personhood. You dig? It’s like how the New World was here long before anybody “discovered” it.
Non-human animals are not non-human animals because thinking makes it so. They’re animals because they’re animals. Now I think animals should be way, way more respected then most humans treat them. But applying a human right — such as freedom from involuntary servitude — to animals both denigrates people and disrespects the animals that they anthropomorphise.
What I’m saying is that once again, PETA has gotten it all wrong….
It’s the end of October, and you know what that means: law school finals are lurking. As law students begin to hunker down and make sweet, sweet love to their outlines and flashcards, others are busy thinking up more clever ways to study the same materials.
Visual learners think that drawing pictures will help them cram especially boring law into their brains, but those in the auditory learning crowd know better. And that’s why one law student is writing rap songs about the most boring law of all, Sarbanes-Oxley….
Lawyers, journalists, investment bankers — they are liabilities, not leaders, in the zombie-infested world….
In the zombie apocalypse, your J.D. is worthless — which is actually not so different from the real world of recent years.
– Torie Bosch, in a thought-provoking Slate article entitled First, Eat All the Lawyers, arguing that the boom in zombie-related entertainment reflects, and is fueled by, the economic anxieties of white-collar workers.
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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 six years. You can reach them by email: email@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!