The Biglaw on-campus recruiting season is a subject of decreasing relevance for most aspiring lawyers, as illustrated by this grim infographic. We are all familiar with the parade of horribles that is the law firm recruitment market, at least from the student point of view. Since the halcyon days of 2007, summer associate class sizes are down at the overwhelming majority of large law firms, often by fifty percent or more. And of course nobody is seriously arguing that class sizes will ever rebound to their pre-recession levels. But 50 percent is not 100 percent; there are still 2Ls who have just made their way through the OCI cattle call.
About a month back, we asked our readers to share their experiences of the OCI process. We wanted to learn where student priorities fall during this era of “New Normal.” For those of you fortunate enough to be in a position to choose among employers, what are the factors driving your decisions? What, if anything, is likely to make you reject an offer? And what, in this unbalanced buyers’ market for legal talent, is the actual interview experience like?
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Sunny Choi interviews a judicial clerkship veteran with some helpful advice for aspiring clerks.
It’s open season for clerkships and you’ve probably already been inundated with resources from your law school’s career office. Sure, those are the “official” resources, but don’t you want to know what it’s really like to go through the clerkship application process? This month, I probed the brain of a judicial clerkship veteran to give you the inside scoop.
1. Do you have any interview tips particular to interviewing for a clerkship?
We’re familiar with the fact that the number of law school applicants is down. Indeed, quite a bit of metaphorical ink has been spilled on analyzing the ramifications of this trend on law school applications. For instance, the WSJ Law Blog recently ran a story analyzing the LSAT scores at top law schools. Somewhat surprisingly, the numbers were fairly consistent with previous years, despite fewer applicants. Above The Law followed up with the analysis of a few additional schools, though all were still T14 (with the exception of ATL’s favorite whipping boy, Cooley). And, of course, we here at Blueprint analyzed these changes and discussed how to use them to your advantage.
So the implications of the decrease in law school applicants have been fairly well documented for top law schools. However, only a small minority of law students will be applying to them, and an even smaller amount attending. This begs the question: What’s going on further down the law school chain?
There is not nor probably will there ever be a definitive novel or film depicting the law firm experience. Law firm lawyers viewing The Firm or Michael Clayton or Ally McBeal are not going to identify with what they see on the screen. Novels like The Partner Track by Helen Wan or Anonymous Lawyer by Jeremy Blachman might be the closest thing (affiliate links).
A truly realistic portrayal of that particular white-collar salt mine would surely be too boring for the public. On the other hand, the comments from the ATL Insider Survey (14,000 responses and counting; thanks everyone) constitute a sort of undistilled document of the Biglaw hive mind. So what do we hear from this depressing, inspiring, contradictory chorus of lawyerly voices?
The ATL Insider Survey asks practicing lawyers to evaluate their employer in terms of compensation, training, culture and colleagues, firm morale, and hours. The survey also asks, “What would be useful or interesting for a law student or potential lateral to know about your firm?”
Reading through all the responses to this question, a handful of recurrent themes emerge….
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Casey Berman, founder of Leave Law Behind, a blog and community that focuses on helping unhappy attorneys leave the law, discusses how current attorneys can improve their time management skills and successfully leave law behind.
I haven’t written a post in weeks. No way around that. And this gap is likely attributable to the same reason many of you may find it difficult to take that first step to leave the law.
I was busy.
Very busy. Busy with work (I head strategy for a tech company here in San Francisco), busy with my family (our three-year-old and six-year-old just started school), busy trying to spend quality time with my family, busy (kind of) trying to exercise and play some sports, busy trying to manage a lot of little things (getting new DMV license plate tags, health insurance papers, cleaning out the garage, attending the obligatory weekend toddler birthday party) and busy trying to get at least six hours of sleep.
So busy. So who has time to write a blog post? Who has time to even think about leaving the law, much less leave it?
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Ann Levine shares some advice on the law school application process.
1. Asking for fee waivers from schools
Law schools need applications: with application numbers down significantly over the past few years, recruiting the limited number of qualified applicants is a huge concern for most law schools. They need to keep their number of overall applicants high, and their number of admitted students as low as possible. A major strategy for accomplishing this is to offer free applications to some, or even all, applicants. Some schools are offering free applications before a certain date, and some will email you if you meet the pre-determined criteria through the Candidate Referral Service (which you can subscribe to through your LSAC account). You can also obtain application fee waivers by attending a law school fair or LSAC Forum, or simply by asking for them.
The idea of “happiness” is the basis of an ever-growing body of research. In fact, while economists traditionally measure a nation’s prosperity by looking at GDP, there is a growing movement for them to consider a different measure, something akin to “Gross National Happiness.” One of the best-known efforts to move away from a reliance on GDP as a measure of national welfare is the UN’s Human Development Index, which amalgamates three metrics: lifespan, educational attainment, and adjusted real income. Then there are dozens of much more subjective surveys of national happiness, many of which find Costa Rica to be the happiest country in the world. Others say it’s Norway. (Then there is this preposterous “Happy Planet Index,” which ranks the U.S. at number 113, between Madagascar and Nigeria.)
Of course happiness research is performed in more narrowly targeted ways, such as examining specific professions. Earlier this year, Forbes reported on a “Career Bliss” survey of 65,000 employees that ranked “law firm associate” as the unhappiest job in America. (See Joe’s take on that survey here.)
The law firm on-campus interview process is a peculiar institution. No other industry entrusts its entire entry-level hiring process to a series of superficial 20-minute “cattle call” interviews two years ahead of when the candidate will actually become a full-time employee. There is something contrived about the whole thing. (This old-ish video clip gives a good sense of the inherent absurdity.)
OCI is still underway at law schools across the country. Firms are currently hustling to interview students nationwide, make callbacks, and extend offers within an arbitrary 28-day window (per the NALP guidelines).
As we recently noted, opportunities to participate in OCI — which continues to be the primary entry point for law students into the largest and best-paying firms — are increasingly harder to come by in the current job market. The reality is, most students are on the outside looking in. Most will never be afforded the opportunity to land one of the few gigs that will actually give them a plausible chance of being able to pay off their student loans.
If you are one of the fortunate ones who just went through or is continuing to take part in OCI, we want to hear about your experiences….
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Sunny Choi shares some advice on ways to save money while fulfilling your CLE requirements.
CLE is one of the many banes of an attorney’s existence. If you’re like me, you’ve probably procrastinated on fulfilling your CLE requirements and the deadline is fast approaching.
As a non-Biglaw attorney, I’ve always had to find my own resources for CLE classes on the cheap. Whether you’re working for a small firm, engaged in your own practice, or working for the government, there are CLE classes available that are either free or relatively inexpensive.
Read on to discover how to get your CLE done without breaking the bank.
As was vividly demonstrated by our recent infographic, Biglaw’s summer associate classes have undergone a major and seemingly permanent contraction. For the most part, large — arguably bloated — summer associate classes are a thing of the past. Among the Am Law 50, only eight firms are bucking this downward trend, with actual increases in the size of their summer classes since 2007. These firms are a collection of Wall Street’s oldest and most elite white shoe mainstays: Sullivan & Cromwell, Cravath, Davis Polk, and their ilk. On average, these firms were founded 112 years ago (i.e., during the McKinley Administration). The outlier here is the relative upstart litigation powerhouse Quinn Emanuel, founded only back in 1987.
Besides the durability and strength that comes with such a refined pedigree, what other trends are apparent in this great downsizing of Biglaw’s summer associate classes?
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: