As any practicing lawyer learns within about a week of beginning her career, the concept of the work/life balance is sort of a fiction. Practically speaking, there simply aren’t enough hours in the day to achieve any sort of actual, equal balance between your life and your work. Think about it: assuming you spend at least ten hours at work each day and seven hours asleep, this leaves only seven waking hours to accomplish everything else in your life — feeding yourself, commuting, spending time with your family, brushing your teeth, exercising, reading Above the Law, and pursuing other hobbies, like making crayon drawings for your office.
Although seven hours sounds like a lot of time, we all know that it goes by way too fast. At least for me, after I have taken care of my major life necessities, I only have about an hour left over at the end of my day to enjoy my “life.” Sadly, this time is usually spent complaining about the fact that I have to go to work the next day and do it all over again — is there no rest for the weary???
Your Above the Law editors: Joe Patrice, Elie Mystal, Staci Zaretsky, and David Lat
February is supposed to be full of hearts and love and chocolate candy, but this year, it was mostly filled with snow — and that’s why our Valentine’s Day party, which was originally supposed to be on February 13, had to be rescheduled.
That said, thanks a lot to everyone who was willing to brave the cold and came out on Wednesday night to attend the Above the Law Valentine’s Day party. This year’s festivities were extremely well-attended (the bar was packed), and the entire crowd enjoyed all of the specialty drinks that were served. Thanks to our sponsor, the Business Law Center on WestlawNext™ from Thomson Reuters, for making such a great evening possible.
If you weren’t able to make it out, don’t worry — we’ve got you covered. Here are some of the pictures from a night that was full of fun and fabulosity…
Ed. note: Please welcome Elizabeth Adams, who will be covering health and wellness in the legal profession. You can read her full bio at the end of this post.
Ever wonder what the secret to happiness is? Landing a Biglaw job? Making partner? Saving your innocent cousin from wrongful conviction for a convenience store robbery in the small town south? Whether you’re a currently-miserable attorney who’s pinning her hopes for happiness on eventual career success, or a veteran attorney who could stand to be a bit more happy, I have both bad and good news for you. The bad news: you may have to look beyond the bounds of your career for the additional keys to lasting happiness. The good news: doing so is easy! But how could this be, you ask?
I found some clues to the answer in a book I just finished reading called A Life Worth Breathing (affiliate link), written by Julian Assange doppelganger (see cover photo), yoga teacher, and self-proclaimed “innovator,” Max Strom. To be honest, I was initially pretty skeptical of the book. From the title alone, I could tell how much heavy eye-rolling was likely in store for me. And — just to be clear — the book did prove chock-full of more than its fair share of what my father would call “illogically formulated and poorly communicated hippie hooey.”
That said, A Life Worth Breathing did deliver a few precious nuggets of information valuable enough to make the whole undertaking worthwhile…
Bradley Cooper: a very handsome man, but sadly not a lawyer.
Seemingly random small-firm lawyers from Alabama weren’t the only legal types in attendance at the White House State Dinner on Tuesday evening. Indeed, as we’ve previously noted, numerous legal celebrities attended the festivities as well.
Sure, there were some “celebrity celebrities” at 1600 Pennsylvania Avenue that night. The guest list included such boldface names as J.J. Abrams, Stephen Colbert, Bradley Cooper, Mindy Kaling, and Julia Louis-Dreyfus.
But who cares about Hollywood? Above the Law readers are more interested in the government lawyers, federal judges, Biglaw partners and law professors who attended this major social event….
Kourtney and Caleb Ballew, posing for a picture while at the White House for a state dinner with President Obama (with a portrait of Jacqueline Kennedy Onassis in the background).
The White House State Dinner that President Barack Obama hosted on Tuesday night in honor of President François Hollande of France featured quite the convocation of legal eagles. As we mentioned yesterday, attendees included such law-world luminaries as Justice Elena Kagan, Secretary Jeh Johnson, and ATL’s reigning Lawyer of the Year, Roberta Kaplan.
Say what? Did the Obama White House get Salahi’d again?
Actually, no. The Ballews came as honored guests of President Obama and First Lady Michelle Obama.
Because the Obamas have had so few state dinners, invitations to the ones they do host are in especially high demand. How did two recent law school graduates score one of the most coveted invites in the country? I interviewed the Ballews to find out….
David Boies: just one great lawyer among many at Boies Schiller.
What comes to mind at the mention of Boies, Schiller & Flexner? Perhaps the legendary named partners — David Boies, Jonathan Schiller, and Donald Flexner — or perhaps the legendary bonuses, which last year went as high as $300,000.
But there’s much more to the firm than that. Even though BSF is most famous for its litigation work, it has a sizable and well-regarded corporate practice, for example. And even though its biggest presence is in the state of New York, with offices in Albany, Armonk, and New York City, the firm has several other outposts — including a growing and high-powered presence in Washington, D.C.
Boies Schiller has been adding some impressive new talent to its D.C. outpost. Last week, the firm welcomed a leading litigatrix. Let’s learn more about her, shall we?
Drake and Jay-Z look up to him. Music videos that reference him still get shown on MTV. Television talk-show hosts discuss his plans when he’s not a guest. Warren Buffett takes money from him, and Justin Bieber doesn’t act like an entitled spaz around him.
And he uses only $2 bills.
While your first guess is that we’re talking about the Dos Equis guy, we’re actually talking about a Biglaw partner in New York who adopted a unique calling card and translated it into becoming an under-the-radar celebrity among celebrities. He may not be the Most Interesting Man In the World, but he’s at least the Most Interesting Restructuring Attorney In the World…
Some large law firms, when announcing year-end associate bonuses, also announce base salaries for the new year. In Biglaw, the salary scale hasn’t budged since January 2007, when Simpson Thacher announced the $160K scale (providing for base salaries ranging from $160,000 for first-year associates to $280,000 for eighth-year associates).
You could view this as a compensation cut, since we have had some inflation (even if not high inflation) since 2007. According to the inflation calculator of the Bureau of Labor Statistics, $160,000 in 2013, the latest year available, had the same buying power as $142,407 in 2007. Of course, law school tuition has climbed quite a bit since 2007 — so even for the lucky souls who land Biglaw jobs, the value proposition of a law degree isn’t as appealing today as it was back in 2007. You’re paying more for a degree that gets you less.
What’s the solution? Work for a firm that will pay you more than $160,000 as a starting salary, of course! Let’s say hello to the newest member of the $160K-Plus Club….
Litigation powerhouse Quinn Emanuel is known for many things, perhaps the most important of which is making money hand over fist. In the latest Am Law 100 rankings, the firm grew its gross revenue by 17.8 percent, posting revenue per lawyer of about $1.2 million and profits per partner of $4.4 million. That’s certainly a selling point — but perhaps what the firm is best-known for is its quirkiness. Quinn Emanuel is a firm that does things a little differently than any of the competition.
You may recall that starting in 2012, the firm did away with Biglaw’s tried and true method of summer associate recruiting — interview, check pulse, make offer — in favor of “fun, freewheeling ‘get to know you’ parties.” The firm apparently likes attorneys with social skills. Quinn Emanuel has thrown formal workplace fashion to the wayside and actively encourages its associates to dress casually because it “improves [their] creativity.” It’s no surprise that QE made our list of the 12 top rated firms last year.
This is a firm that likes to have fun, and say what you will about its most recent bonuses, but its fearless leaders want its associates to be happy. We think that Quinn Emanuel’s latest initiative may keep the firm at the top of our rankings for years to come….
Meet Michael Graffagna, who’s one impressive MoFo… partner. The Harvard Law School graduate, admitted to practice in New York, California, and Japan, heads up the project finance practice at Morrison & Foerster.
Graffagna is now resident in the firm’s Tokyo office. So he and his wife, Midori Graffagna, recently sold their Manhattan pied-à-terre. And oh what a pied-à-terre it was — larger than most Manhattanites’ primary residences.
How large are we talking? How much did the Graffagnas get for it? And which celebrity lives upstairs?
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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