Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Justin Flowers is a Principal with Lateral Link. He oversees attorney placements (both partner and associate level) and client relationships with the top international U.S.- and U.K.-based firms in Asia, the Middle East and Emerging Markets. Justin also establishes and maintains relationships with firms new to the international markets in general, or to a specific market, who are in need of attorney placement services on an international level. In addition to his work in international markets, Justin also advises domestic U.S. boutique law firms on their strategic growth and hiring. He practiced law as a litigator for several years before becoming a recruiter. Justin earned a J.D. from NYU School of Law and an undergraduate liberal arts degree, cum laude, from the University of Oklahoma, where he attended the Honors College.
At the halfway point of the year, 2014 so far has been a perfect storm of big ticket corporate work, with the U.S. IPO market on record pace and global M&A activity surging to aggregate value levels not seen since 2007. This year’s torrid deal pace is already turning the normally relaxed summer months into a period of high recruiting activity.
No doubt about it, summer gets a bad rap as lateral seasons go. But whether or not you intend to take advantage of the current deal market driving demand, summer should be a time for action.
If you are considering a lateral move “early next year,” then there’s nothing to be done in the next couple of months other than take advantage of your firm’s renewed enthusiasm for the summer associate class, right? Wrong. Here’s why:
Between 2008 and 2012, the median debt burden for newly minted JDs increased by 54 percent, from $83,000 to $128,000. (That compares with a 22 percent increase in medical student debt.) It is the responsibility of every aspiring law student to understand the implications of taking on such a financial commitment. For law grads who have already accumulated the debt, there may be options for you to better manage repayment. Thanks to our friends at DRB, today’s infographic takes a look at law student debt, including the possible benefits of refinance or consolidation. Click here for more details.
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
Alliteration aficionados are bemoaning the tongue-twisting fusion of Squire Sanders and Patton Boggs into Squire Patton Boggs. I prefer the feudal-esque Squire Boggs, but then again, I was not on the naming committee. Aside from this rebranding exercise, Squire Patton Boggs makes it clear that mergers (or acquisitions) are easier to execute in principal than reality.
Many of the firms in the Am Law 200 are the result of previous mergers including WilmerHale and DLA Piper. Most of these mergers were consummated before the recession, and since then, the parity between Am Law 200 firms has been dwindling.
The race for supremacy in the legal market has created a system with far less parity than before and consequently, a greater degree of difficulty for mergers. For example, the spread of Profits Per Partner in 2003 is right-skewed — and this will likely always be the case — but overall, there is little variance in spread of PPP in 2003 when compared to the spread in 2014…
We’ve said it in the past, but we’ll say it again because it still rings true. Men and women working in the law are very, very busy. Billable hours come first, and everything else comes much further down in the constantly growing list that we call life. A window with a view of the outside world is a luxury, because stepping foot outside the office to do your errands is but a dream. It’s sad, but these folks can’t even find the time to go shopping anymore.
Just imagine what you would be able to accomplish if you were able to get a personal shopper to carry out life’s little pleasures for you. Thanks to the wonders of the internet, you can. Enter Shop It to Me, a free fashion website with a mission to be the best online personal shopping assistant in the world. You know what you love, and Shop It to Me finds it for you in your size — on sale.
What could be better? A $250 shopping spree sounds fun. Keep reading to find out how you can win one…
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!