David Lat is the founder and managing editor of Above the Law. His writing has also appeared in the New York Times, the Wall Street Journal, the Washington Post, New York magazine, Washingtonian magazine, and the New York Observer. Prior to ATL, he launched Underneath Their Robes, a blog about federal judges. Before entering the journalism world, he worked as a federal prosecutor in Newark, New Jersey; a litigation associate at Wachtell, Lipton, Rosen & Katz, in New York; and a law clerk to Judge Diarmuid F. O'Scannlain, of the U.S. Court of Appeals for the Ninth Circuit. David graduated from Harvard College and Yale Law School, where he served as an editor of the Yale Law Journal. He has received several awards for his work on ATL, including recognition as one of the American Lawyer’s Top 50 Big Law Innovators of the Last 50 Years; one of the ABA Journal’s Legal Rebels, a group of pioneers within the legal profession; and one of the Fastcase 50, "the fifty most interesting, provocative, and courageous leaders in the world of law, scholarship, and legal technology." His first book, Supreme Ambitions: A Novel, will be published in 2015. You can connect with David on Twitter and Facebook.
The legal job market remains challenging, but there are some bright spots. As we reported on Friday, entry-level Biglaw hiring is up by almost 10 percent compared to last year.
Many law school students and graduates view working at a prestigious law firm as a cure-all. And it’s true that a starting salary of $160,000 is one of the best ways for law school grads to service six-figure debt loads.
But for some young lawyers, a Biglaw job is far from a panacea. The stress and long hours create new problems — problems that can be hard to solve while holding down a demanding law firm job.
Here is one associate’s very sad situation. What would you advise him or her to do?
The opinions released by the Supreme Court this morning were not super-exciting. The good news, pointed out by Professor Rick Hasen on Twitter, is that “[t]here are no likely boring #SCOTUS opinions left.” (But see Fifth Third Bancorp v. Dudenhoeffer, noted by Ken Jost.)
So let’s talk about something more interesting than today’s SCOTUS opinions: namely, the justices’ recently released financial disclosures. Which justices are taking home the most in outside income? How robust are their investments?
The National Association for Law Placement (NALP) just released its employment data for the law school class of 2013. Roughly nine months after graduation, how are these folks faring in the job market?
As we’ve come to expect from jobs reports in the post-recession “new normal” (which is no longer really “new”), there’s good news and there’s bad news. The big picture: new graduates found more jobs in total and median starting salaries grew, but the overall employment rate fell due to the historically large graduating class.
It pains me to say this, given my own predilection for prestige worship, but here’s a question: does prestige matter as much as it used to? In an era of greater access to information, a law firm’s overall prestige arguably matters less than it once did.
If a client is looking for an excellent firm in a particular practice area, it can now easily access information about which firms, and even which individual lawyers, excel in which niches. It no longer has to rely on a firm’s brand name as a proxy for a specific strength. And other factors matter to the public as well. Is a firm a good place to work? How stable is its partnership, in this era of increased lateral movement? Is the firm growing or declining?
But make no mistake: prestige is still hugely important. Which is why the Vault law firm rankings are so eagerly anticipated each year.
The latest rankings from Vault of the country’s 100 most prestigious law firms just came out. How do they look?
Is having your back-office functions handled on-site — i.e., in the same location as the lawyers being serviced — now a luxury? More and more law firms are adopting the model of sending their administrative support functions to lower-cost locations.
Thanks to advances in technology, it’s no longer necessary to have your back office in the same pricey place as your lawyers. And it’s not surprising that firms are going in this direction when you consider the cost savings involved.
Which law firm expects to save millions of dollars a year by sending support staffers to the land o’ lakes?
What is going on with the distinguished members of the Supreme Court of the United States? One of the justices recently got caught shopping at Costco. Another just confessed to riding the bus — no, not the Metro, the bus.
Earlier this week, Justice Scalia dissented from the Court’s denial of certiorari in a very interesting Establishment Clause case, Elmbrook School District v. Doe. His dissent garneredmediaattention for the way he curmudgeonly railed against rock music (and got in a dig at Stravinsky).
But what jumped out at me was a different line in the opinion….
Dr. N. Robert Riordan is a graduate of NYU School of Law and a former U.S. securities attorney for London- and Sydney-based Herbert Smith Freehills. After 10 years of practice in New York, London and Rome, he made the switch from corporate law to private practice as a clinical psychologist. Dr. Riordan now acts as a therapist to dozens of NYC attorneys. The following is the first of a two-part interview with Dr. Riordan.
ATL: The most obvious question first – why the switch from law to clinical psychology?
The short answer is: I grew up. I went to law school when I was 21 years old, and I went with the belief that a law degree would serve me well no matter what I ultimately opted to do in my professional life. I never intended to practice securities law for a decade, but the work was interesting and I was given the opportunity to live in some fascinating places. In time, and with the help of a therapist, I discovered my true professional interests.
ATL: Did you set out to work with attorneys when you started your private practice?
Throughout graduate school, because I was older and a former attorney, I was assigned to work with many professionals as clients. While I have a diverse array of clients, the majority are doctors, lawyers and bankers. We speak the same language.
ATL: Our readers will want to know why attorneys are seeking therapy. Can you discuss this topic?
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.
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.