Last week, we wrote about a recruiting snafu involving Kasowitz Benson. The high-powered litigation firm had an unexpectedly high yield for its 2014 summer program, so it started making phone calls in which it either pressed students with offers for a fast decision or effectively rescinded the offer, urging the student to go elsewhere.
A rescinded offer is bad news, especially in an age when fewer students have tons of offers to choose from. But a rescinded offer of a summer associate position is better than a cold offer at the end of the summer, right?
After our story about the controversial Kasowitz calls went up, we heard from multiple former summer associates at Kasowitz with additional allegations of shady behavior — specifically, cold offers….
Getting no-offered is a bad thing. Even though (or perhaps because) summer associate classes are small, offer rates remainhigh. As Jay Edelson of Edelson LLC writes in this interesting call for reform, End the Summer Associate Sideshow, offers of full-time employment to summer associates are “virtually guaranteed, so long as they don’t do something to truly embarrass themselves or the firm.”
So a no-offer is bad, but you can recover. Sonia Sotomayor got no-offered after summering at Paul Weiss, and her legal career turned out pretty well in the end. Her wonderful memoir is aptly titled My Beloved World (affiliate link), not “I Got No-Offered And Now I Live In A Van Down By The River.”
Let’s say you got no-offered this summer. What should you do?
You’d be jumping for joy if you landed an offer from a top law firm.
It’s harder to be a partner in Biglaw today, both in terms of making partner and remaining a partner. You can no longer just coast along after making partner; you need to prove yourself and your value to the firm, year after year. That’s a change from past practice (and people can argue when exactly the change took place).
But some things in Biglaw haven’t changed. The practice of being generous with offers to summer associates — too generous, some might argue — is alive and well. Summer programs are smaller today than they were before the Great Recession, but offer rates remain robust.
Following up on Monday’s story, here are more firms that have given offers to all of their summers:
Given all the boring, goody-two-shoes summer associates this year, offer rates should be sky high. Let’s find which firms are rocking the 100 percent offer rate — information that rising 2Ls will want to know as the new on-campus interviewing season starts up….
Don’t look so sad; it is possible to bounce back from a career setback.
Last week we covered news of associate layoffs and summer associate no-offers over at Winston & Strawn. We heard primarily from sources who were upset over the news, and because the firm declined to comment on personnel matters, we didn’t hear Winston’s side of the story. But now, thanks to some helpful sources, we have a few pro-Winston comments that we will now share.
First, the number of “stealth layoff” victims may have been overstated. According to word on the street among Chicago associates, “while some people were let go, 30 seems pretty high.”
Second, it seems the layoffs were focused in Chicago; other offices may have escaped relatively unscathed. According to a source in Winston’s New York office, “nobody has heard about layoffs” there.
Third, the changes to the timing of associate reviews — which were viewed by some as ominous, perhaps laying the groundwork for additional cuts — may actually be quite innocent. Said a source: “The review cycle was also moved forward for some classes and back for others, but it is part of a general re-vamp of the evaluation process, and I’m not convinced there are any sinister motives behind it.”
Fourth, although the firm’s Chicago office doled out a relatively high number of no-offers — about 10 out of 30 summer associates did not get offers of permanent employment — we hear that this was primarily a Chicago phenomenon. As noted by a commenter, “The offer percentages are, to the best of my knowledge, significantly higher in the other offices.”
Of course, after our story we also received additional criticism of Winston, to which we now turn….
Please note the addition of multiple UPDATES, after the jump.
The first half of 2012 was not great in terms of the financial performance of Biglaw. It wasn’t disastrous — we’re not talking about late 2008 and early 2009 — but it was certainly sluggish.
This has caused some legal industry observers to wonder: Might we see a return of layoffs? We’ve already seen significant staff layoffs in the past year, but limited lawyer layoffs. Is that about to change?
Today we bring you bad news about Winston & Strawn, concerning both full-time associates and summer associates….
Truth be told, I’m not a fan of law firms giving offers to 100 percent of their summer associates. Whatever happened to selectivity? Given how perfunctory the hiring process is, there has to be at least one mistake in any summer class of decent size, right?
A commenter on our last post about offer rates put it well: “[A] 100% offer rate is not always a good thing. If we don’t want to work with the little weirdo who managed to slip through by pretending he was normal in 20-minute increments in callbacks, there’s a good chance the other SAs don’t either. Firms shouldn’t be so captured by the desire to have 100% offer rates that they give offers to people with serious social issues or work product problems, particularly in small offices where their general offensiveness will really have an opportunity to shine.”
Another reason I don’t like 100 percent offer rates is that I enjoy hearing funny stories of summer associate misbehavior, which often culminate in a no offer or a cold offer. You can share such stories with us by email or by text message (646-820-8477; texts only, not a voice line).
Alas, Biglaw firms are not obliging me. Let’s find out which firms are indiscriminately doling out offers to their summers….
Now that Labor Day is behind us, fall is fast approaching. You can tell by the chill in the evening air.
Or is that just the cold offers we’re feeling? Last month, we asked you for stories about firms giving out cold offers to summer associates. As we explained, a “cold offer” or “fake offer” is, in the words of NALP, an employment offer made “with the understanding that the offer will not be accepted.”
This “offer,” made with a wink and a nudge, allows the employing law firm to report (and boast about) a 100 percent offer rate, when in reality it isn’t welcoming back 100 percent of its summer associates. It also has an advantage for the recipient: when she goes through 3L recruiting, she can truthfully say, “Yes, I received an offer from the firm where I summered.”
We recently heard a story about a pretty cold offer (not from summer 2011, but from not too long ago summer 2010). This summer associate, who wasn’t the most popular person in her class, received a full-time employment offer “contingent upon obtaining a federal clerkship.” Given how hard it is to land a federal judicial clerkship, that’s a pretty cold offer — especially considering that the student in question, now graduated, didn’t go to a law school known for cranking out lots of clerks.
Welcome to our latest round-up of summer associate offer rate news. This post contains the latest list of law firms and offices with 100 percent offer rates. In future posts, we’re going to shift gears and focus on firms with lower-than-average offer rates.
An offer rate that’s lower than 100 percent is not necessarily newsworthy. The fall recruiting process by which summer associates are selected isn’t perfect. Sometimes candidates look great on paper and do well during interviews, but then do something during the summer — turning in disappointing work product, getting drunk and acting inappropriately — that causes them to get no-offered. And sometimes people get no-offered for reasons that aren’t their fault — office politics, discrimination. Stuff happens.
We’re not expecting 100 percent offer rates all around. At the same time, there is such a thing as an unusually low offer rate. If you know of an office with an unusually low offer rate — which we will arbitrarily define here as something under 66 percent, or two-thirds — please email us (subject line: “[Firm Name] Offer Rate”).
Now, on to the updated list of firms and offices with 100 percent offer rates….
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!