Lateral Link had a record year in 2012. We promoted eleven recruiters — five new Principals, five new Senior Directors, and one new Managing Director. Given our existing client base, we are hiring Directors for our Partner Group in all major markets to assist with partner level recruiting for Am Law 200 and regional boutiques.
Lateral Link is a leading global legal recruiting firm with twelve (12) offices in the United States and Asia. We have immediate openings in our New York, Chicago, San Francisco, and Dallas offices for a Director-level recruiters to focus on partner search. This is a unique opportunity to leverage an existing client base while joining our team of experienced recruiters, including Larry Latourette (HLS ’82), former managing partner of the Preston Gates, DC office and partner recruiter with over a decade of experience, who manages our partner recruiting practice.
Why Lateral Link? Continue reading to learn more….
It looks like we survived the Mayan Apocalypse, and though your paycheck may be sad, we didn’t fall off the fiscal cliff. So we’ve decided to throw a party to celebrate the new year with all of our loyal readers.
The Above the Law New Year’s party will be held on Wednesday, January 16. Now no one can complain that our fiesta is interfering with their precious finals schedule or their luxurious holiday travel plans. Come hang out with all of your favorite Above the Law editors, say hello to some of our columnists, and enjoy our open bar!
Due to limited space, you must sign up to be placed on the guest list. We’ll let you know if you make the cut and provide details on location later. Here’s the sign-up form; may the odds be ever in your favor!
Ed. note: This is the latest in a series of posts on partner issues from Lateral Link’s team of expert contributors. Today’s post marks the conclusion of a two-part narrative about lateral partner hiring, and was written by Larry Latourette, Executive Director of the Partner Practice at Lateral Link. You can read the first part here.
PROVIDE RECRUITERS THE INFORMATION NECESSARY TO DO THEIR JOBS (CONTINUED)
At the typical meeting with firms to discuss hiring needs, several partners will quickly go through a vague wish list (such as “IP litigators” or “government contract partners” all with “more than $2 million in business”), and give no more direction. When they are asked why a lateral might come to the firm, there is almost always a brief pause, followed by a blanket statement that the firm has a collegial atmosphere and a “no a-holes allowed” policy.
In contrast, with Dickinson, I met all of the D.C. partners to talk about what kinds of lawyers might best complement their practices, and had numerous follow-up discussions with both the individual attorneys and the hiring partner about what would and wouldn’t make sense. I also spoke to numerous lawyers in their other offices to get a sense of what kind of attorneys would be a good fit. Of critical importance were our detailed talks as to which existing and new business opportunities Dickinson might offer laterals, what leadership positions might be available, the recent steady growth of the firm, and where the firm was headed.
They also kept me informed about the process, which allowed me to bring further value. When one group I brought to them mentioned in a meeting with Dickinson that they were considering another firm, I put together a spreadsheet demonstrating that the competing D.C. office had lost half of the lateral partners hired in the last ten years. This was in stark contrast to the much higher retention rate at Dickinson. I later learned that the spreadsheet was a primary factor in helping to seal the deal….
Ed. note: This is the latest in a series of posts on partner issues from Lateral Link’s team of expert contributors. This two-part post about lateral partner hiring was written by Larry Latourette, Executive Director of the Partner Practice at Lateral Link.
The call came in on a dreary Saturday afternoon in November. A senior partner from the Detroit-based firm of Dickinson Wright was going to be in town on Monday and wanted to meet about lateral hiring for their D.C. office. Having been a lawyer at three D.C. branch offices (including a stint as managing partner for Preston Gates) and having attended dozens of similar meetings as a recruiter with out-of-town law firms, I didn’t have high expectations; almost all out-of-town firms think they can successfully compete in the brutal Washington market already rife with marginal offices on life support and shuttered offices of those that didn’t make it. Nevertheless, I agreed to meet since I always learn something from these encounters, and one thing life has taught me is that you never know how things will actually turn out.
The meeting and my subsequent experience reconfirmed that lesson as together we almost doubled the size of their D.C. office by adding 10 lawyers in the subsequent 15 months. While many firms do a decent job at partner recruiting, most have some weaknesses either in strategy or execution. Dickinson, however, put in place the best hiring structure and followed through as effectively as any I have encountered.
To bring more rationality to an often convoluted and inefficient process, the following distills the elements of that approach. While its solutions aren’t unique, the Dickinson model offers a useful benchmark from which other firms might improve their own hiring efforts….
* Our annual Law Revue Video Contest is still a few months away, but if you like making legally themed videos, keep an eye on this contest (more details forthcoming, including info on the prizes). [Federal Bar Association]
* Speaking of contests, we welcome your votes in the ABA Journal’s Blawg 100 (under “News/Analysis”). [ABA Journal]
* And speaking of Above the Law, the deadline for applying for our writer/editor position and our internship is tomorrow — so act now if interested! [Above the Law]
Do you live in or around New York City? And do you like to drink (responsibly, of course)?
If so, here’s an event you might want to check out: the Caskers Craft Spirits Celebration, taking place on December 6 in downtown Manhattan. Guests will be able to sample amazing craft spirits — like a cacao-infused rum, and honey-infused vodka — from over 15 small-batch distilleries, and enjoy signature cocktails made by each distillery. In addition, guests will be able to participate in a live, hands-on cocktail making class taught by Steve Schneider, principal bartender at Employees Only.
Caskers, by the way, was founded by two lawyers (and Harvard Law grads). Steven Abt worked at Wachtell Lipton and Moiz Ali worked at Simpson Thacher, before their Biglaw jobs drove them to drink.
If you’re interested in the event, there’s a discount for Above the Law readers. When you go to buy your ticket on the website (affiliate link), just enter the coupon code “ATL10.” Enjoy!
P.S. Speaking of fun events, Above the Law’s usual holiday party has been turned into a party to usher in the new year (so as not to conflict with the proliferation of law firm holiday parties next month). Save the date: Wednesday, January 16.
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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