We’ve got two painfully funny / bad / uncomfortable lawyer-produced clips today. Normally, I wouldn’t seek out clips like this to write about, but both of these were submitted to us by their creators. So, I guess, be careful what you wish for.
After the jump, check out the mid-size California firm that hopes you’ll call them, maybe, and a war crimes lawyer turned comedienne who sings a love song to Mitt Romney — while wearing a bikini, of course…
There have been a number of firms that have cut associate salaries. But there have not been many firms that have needed to slash salaries twice this year. Allen Matkins associates appears to be in their own personal corner of sadness.
A tipster reports:
For the second time this year, Allen Matkins has laid off lawyers and cut salaries for those who still have a job. 2 lawyers were laid off in Los Angeles. I am not sure how many in other offices, but I know there were more. Salary cuts were also part of the package. Associates untouched by the last round of salary cuts were not so lucky this time. Cuts ranged between 15% and 30%. … This cut occurred Thursday October 15. Cuts are effective November 1, 2009. Nice holiday gift isn’t it.
Allen Matkins has not responded to our multiple requests for comment. In terms of layoffs, other tipsters have reported a few involuntary attorney departures. 2nd year associates seem to be the hardest hit.
Multiple tipsters are also reporting the salary cut news.
Following along with all of the Allen Matkins cuts is a little bit confusing; let me walk you through it after the jump.
Allen Matkins, a mid-sized California firm, is the latest firm to offer the “hemlock package” of layoffs and salary cuts.
The layoffs at Allen Matkins were relatively small. Only about ten people, six of whom were associates, according to ATL tipsters. But the salary cuts were more substantial. According to one tipster:
First year salary has been reduced from $160K to $145K. A number of other associates (excluding first years) were informed that their salary would be reduced by 15% or 30%. Those associates were told that they were selected to receive “adjusted” compensation based on their hours, although the actual method for determining which associate would be subject to this salary adjustment was not disclosed and remains unclear.
None of these items is new. But as we were going through our overflowing inbox — if we owe you an email, we apologize for our delinquency (or blame our spam filter) — we came across some associate pay raises not previously mentioned here:
1. King & Spalding: We provided extensivecoverage of their recent raise in Atlanta. But we forgot to mention that they also raised starting salaries in Houston, to $160,000 for first-year associates (effective August 1). Memo after the jump.
2. Hunton & Williams: This news surfaced in the comments, but we also received it by email: “Hunton in DC raised to $160k. Memo is floating around, though unfortunately I don’t have a copy.” (If you have the memo, please email us.)
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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