When I was a little girl, I wanted to be a princess, an actress, and a firewoman. For most, growing up means losing the “and” (and the dreams of doing something so far-fetched, by which I mean me becoming a firewoman). Indeed, for many of my lawyer friends, particularly those in Biglaw, you become “a lawyer,” no “and.” Billing hours overtakes your life. If you are lucky, you become a lawyer AND someone who sleeps occasionally (on a huge pile of money).
I recently met a small-firm lawyer who embraced the “and.” Whether it is unique to the small firms where she has practiced or is true of many small-firm lawyers, Cheryl “Cheri” Richards reminded me of something I had forgotten about lawyers: they can be interesting and multidimensional….
Late last week, Chicago based Chapman & Cutler released its 2009 bonus news. It’s not that impressive. But the firm also previewed what it will pay in bonuses for 2010. It’s … not that impressive. A tipster reports:
[T]his year the vast majority of associates did not receive any bonus whatsoever. So apples to apples, we fell way short of our competition (which management likes to tout as Mayer Brown but in reality is other second-tier Chicago firms). As an encore, they have already released next year’s bonus numbers and they’re still low for our peer group. They have the nerve to note they are meeting the 2008 bonuses like it’s a good thing, which is ridiculous as those bonuses too were low since they went out just after the economic crash. As upset as we are, I would be irate if I were a second year. Though it’s somewhat hidden in the memo, they have decided to completely eliminate all hours-based bonuses for second years.
Actually, screwing over second-years is not at all buried in the memo. Chapman makes it pretty clear….
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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!