DLA Piper has released some information about its associate compensation and bonus payouts, and some associates who work for the firm are unhappy. Why? I don’t really know. I don’t know why they thought that working for the largest firm in the world would be a good thing when it came time to pay out bonuses.
Attempts to economize on associate salaries are not new at DLA Piper. The firm has been at the cutting edge (pun intended) of reduced associate base salaries, deferrals of incoming associates, and various other methods for keeping the cost of associates down. It’s just how they roll.
It should surprise no one that DLA associates are complaining about the firm’s bonus plan. In fact, I’m not even sure it’s news that the firm seems to be low-balling associates. If anything, the news hook is that there are still associates at DLA Piper who are surprised by sub-market comp….
Ed. note This is the first in a series of posts that Alex Aldridge, a London-based journalist who covers legal affairs, will be writing for Above the Law about the upcoming royal wedding of HRH Prince William and Kate Middleton.
So, you wish you had a royal family, eh?
Judging by the content of your media, royal wedding fever is even hotter in the US than in the country to which Wills and Kate belong (that’s the United Kingdom, by the way, for the 90% of you without passports who think London is in France). To an outsider, it seems you’re doubting the wisdom of that decision you took to go independent from your colonial forebears and start a republic.
Thanks to Ben Mezrich, David Fincher, and Aaron Sorkin, we all feel like we know the backstory of the creation of Facebook (shameless plug: please like the ATL Facebook page). It goes something like this: Mark Zuckerberg was a shady little brat, who screwed over his one friend while he was building what would become a multi-billion-dollar company. Roll credits.
Legally, just yesterday it seemed that Zuckerberg and Facebook were finally in the clear. The Ninth Circuit told the amazingly privileged Winkelvoss twins to go away, and it appeared that everybody could go back to masturbating to Facebook friends without worrying about who really owned the thing.
But not so fast. There is another outstanding Facebook lawsuit that has recently been amended and refiled in federal court. We’ve reported before on the claims of fraudster Paul Ceglia. Now he’s back, and he’s got some explosive new evidence to support his claims to 50% ownership in Facebook — as well as new counsel.
Is the evidence credible? It depends: do you trust DLA Piper?
A couple of weeks ago, we asked for information about start dates at large law firms. The class of 2011 keeps peppering us with emails about when they can show up for work.
Happily, we’ve been hearing that most Biglaw firms will have their incoming classes start on time, in September or October. Most of the information in the comments to our open thread reflects that news as well. The most prestigious firms seem to be starting on time. Cravath, Sullivan & Cromwell, Davis Polk, Kirkland & Ellis, and firms of that ilk will be welcoming the class of 2011 in the fall of 2011.
But our tipsters do report some notable exceptions….
I’m not trying to compare the claims of Jaime Laskis, a former associate at the prominent Canadian law firm of Osler, Hoskin & Harcourt, with those of Charlene Morisseau (a legendary Lawyer of the Day honoree, from 2007). But we’ve got two stories vaguely related to alleged employee harassment and discrimination in the legal profession, and I wanted to click them both off so I have something to change the subject with when Sweet Hot Justice asks me if she’s a cougar when we meet for drinks tonight.
Let’s start with Jaime Laskis’s story, which is a bit more newsy. Laskis was an associate in the New York office of Toronto-based Osler, who claims she suffered various forms of sexual harassment while she worked there. One partner allegedly said that Harvard University was full of “pretty women pretending to get an education.”
I know, I know, that’s sounds like a man who has never been to a Harvard party. But Laskis makes other allegations….
* Professor Carlton Larson has a great new paper exploring possible constitutional limitations on state laws regulating baby names. Could parental rights to name a child “Dumb Motherf**ker,” “Preserved Fish,” or “Latrina” be protected by the First Amendment? [SSRN via Legal Blog Watch]
* Speaking of the Wise Latrina, Justice Sonia Sotomayor is a fan of bipartisan seating at the State of the Union. Her colleagues’ email skills? Not so much. [How Appealing]
* Illinois law professor Larry Ribstein on the Rahm Emanuel ruling: “Illinois law is better interpreted to say that before a Washington pol runs again in the midwest he needs some time reacquaint himself with the real world.” [Truth on the Market]
* Congratulations to DLA Piper, which will become the world’s largest law firm after a merger Down Under. [Bloomberg]
* And congratulations to former DLA partner Ted Segal — he’s moving over to regional firm Stradley Ronon, in part because of client concerns over billing rates. [Washington Business Journal]
* Wow, that was fast. Rep. Dennis Kucinich has already settled his lawsuit over olive-triggered dental damage. [Dave Weigel / Slate]
* A state transit agency in Virginia that has paid Williams Mullen more than $6.5 million over the past five years might be shifting legal work away from the firm. [Virginian-Pilot]
* You can call Above the Law “the most worst legal website published in the State of New York,” and we won’t sue you for defamation. (Cue jokes about truth as a defense in 3, 2, 1….) [New York Law Journal via ABA Journal]
Does Sarah Palin's home state need a law school? One legislator says: You betcha!
* An impressive collection of legal humor — amusing motions, orders, opinions, and the like. [Law Law Land]
* (Celebrity) Lawyer of the Day: Michael “Mickey” Sherman, a prominent criminal defense lawyer and the husband of a Fox News legal analyst, is going to prison Physician, heal thyself. [TaxProf Blog]
* Elie isn’t feeling well right now — no, it wasn’t all that Kwanzaa cake — but if he were writing today, I suspect he’d have a lot to say about whether Alaska needs its own law school. [Tundra Drums via ABA Journal]
* What does the Ohio Supreme Court have against satellite television? [Consumerist]
* If you haven’t done so already, check out Mike Sacks’s interesting and elegant analysis of the four youngest Supreme Court justices (which got a well-deserved shout-out from Adam Liptak in the New York Times today). [FIRST ONE @ ONE FIRST]
* Eric Fatla, a law student at GW, passed away from injuries he sustained in a fall at the Union League Club in Chicago. Professor Jonathan Turley remembers his former student. Eric Fatla, R.I.P. [Jonathan Turley; Chicago Breaking News]
In fairness, Mariah Carey does fill out a Santa suit better than I do.
Last night, we gave you a little recap of the ATL holiday party — if you will forgive the expression — that PLC and ELR Search sponsored. Wow. Some of you commenters are really mean, especially after Kash takes out a restraining order against you. Your clever use of ouchy words really did a number on us here at ATL. I had to use my orbital ass to block out the moon last night to keep Ami from turning into a werewolf. I thought everybody would be over it by morning, but when I came in Marin was using a size 4 sweater as a full sleeping bag and our CEO was selling off Breaking Media equipment on Ebay while screaming “No, not again, I’ll not be ruined the internet bubble a second time!”
Just kidding — we know you say these things out of love, the love the rest of polite society denies you because of your various deformities. Pitiful commenters of darkness, what kind of life have you now? God give me courage to show you, You are not alone.
In fairness, there was only one comment last night that really pissed me off. It was the first one: “If you attended this you are a LOSER and need to GET A LIFE.” Really buddy? Coming out for free drinks and free food on a random Wednesday, if you read a blog — a blog you yourself read so intently that you are FIRST to comment on it — makes you a “LOSER.” Really?
Whatever. Winners, a class of people I think “Guest” knows nothing about, should be able to come and hang out at the humble holiday party thrown by a blog they read if they want to.
And then they should also be able be wined and dined at a proper holiday party, thrown by their employers. And employer-sponsored holiday parties, especially when the employers are large law firms, should be so extravagant that “Guest” gets paid time-and-a-half to serve drinks while successfully breathing through his nose instead of his mouth.
Were they? Or was this yet another year of recession-affected law firm holiday parties?
DLA Piper recently rejoined the ranks of Biglaw firms paying a $160,000 starting salary. Welcome back to the pack. Unfortunately, some incoming associates hoping to start at DLA will have to wait quite a bit before they are able to cash in on that $160K dream. A tipster reports:
DLA Piper just told their incoming first years (i.e., the people who graduated in May 2010) about their start dates. A few months ago they told everyone that they’d either be starting in January 2011 or January 2012, but didn’t state who would be starting when, how many people they expected to start on either date, or any other specific information.
They made the calls [yesterday] and almost everyone is deferred until January 2012. They said they “expected” to give a stipend of $5k a month for pro bono work but didn’t definitively confirm anything.
Well, DLA Piper has now provided information about the situation to Above the Law. All of these kids — who summered with DLA Piper in 2009 — knew there was a possibility of getting deferred until 2012. But only half of them actually will. The rest will start relatively on-time…
We’re doing our annual march through the Vault prestige rankings, to give ATL readers the opportunity to have their say about perks and pitfalls at these firms. If your firm actually let you swap your Blackberry for your iPhone, brag here. Or if your firm has such a strong stench that it makes you nauseous, vent here.
We’ve been doing open threads in batches of ten, but now we’re going to pick up the pace. Here are the Vault #41 – 60. This is when the prestige list gets a little more geographically diverse, with firms based in Houston, Atlanta, Philadelphia, Palo Alto and even Pittsburgh:
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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