In the world of Manhattan real estate, life begins at $1 million. Sure, you can get a very nice studio or one-bedroom apartment for six figures. But if you’re looking for at least two bedrooms and two baths, in a decent part of town, be prepared to pay the mansion tax (although a 1,200-square-foot apartment is hardly a “mansion”).
In today’s edition of Lawyerly Lairs, we’ll present you with two apartments, both priced between $1 million and $2 million. Then we’ll ask you to vote in a reader poll and say which one you prefer. We’re all about interactivity here at Above the Law.
As we recently mentioned, Biglaw is not all about the benjamins. There is so much more to the practice of law than the monetary rewards. Focus on doing the best work you can for your clients and your colleagues, and the money will take care of itself (well, at least most of the time).
Of course, it’s much easier to take a relaxed attitude towards money if you have a good amount of it. It’s easy for well-paidpartners to tell young associates not to worry about money, when the partners enjoy seven-figure paychecks while the associates struggle under six-figure student loans.
If you’re a young lawyer dealing with educational debt, you know that every extra dollar counts. Every dollar earned means you’re one buck closer to liberation from loans.
Which leads us to today’s question: which law firms pay the largest starting salaries to their associates?
Presumably the Princeton Review folks were referring to career prospects in the legal profession. Fortunately for YLS, its graduates possess many other talents besides drafting motions in limine and negotiating software licenses.
Do singing and dancing count as “employed upon graduation”? Let’s check out the latest efforts of these Elis…
Finding a decent apartment in New York City can be a challenge. But compared to getting Claus von Bülow and O.J. Simpson off the hook — or, for that matter, shaping the brilliant minds of Harvard Law School students — it’s a walk in Central Park.
Alan Dershowitz — distinguished public intellectual, celebrated criminal defense and civil liberties lawyer, and Felix Frankfurter Professor of Law at Harvard — just purchased an apartment in NYC. It’s a homecoming of sorts for Dershowitz, 74. Although he has lived for years in Cambridge, the home of HLS, he was born in the Big Apple.
Dershowitz was born in Brooklyn, but the prominent professor isn’t going back to the borough that GQ dubbed “the coolest city on the planet.” Instead, he’s moving to Manhattan. (C’mon, do you think Dersh put up with thousands of HLS brats over the years so he could wind up right back where he started?)
Which neighborhood is Dershowitz moving to? How fabulous is his apartment? How much did he pay for it? We have answers to all of these questions, plus comments from the good professor about his move….
Last week, we searched this year’s Forbes 400, the list of the 400 richest Americans, for lawyers and law school graduates. Lat pointed out the newcomers and the dropouts since last year’s roundup, but there are still more than thirty other lawyers on the list.
Let’s take a closer look at these affluent attorneys. Their stories will either inspire you with visions of vast wealth or afflict you with jealousy at how many times over they could pay off your loan debt….
No, Professor Jacobson, you won’t be getting her scalp.
Yesterday we mentioned the latest issue to arise in the contentious Massachusetts Senate race between incumbent Scott Brown and Elizabeth Warren, the Harvard law professor turned political candidate and national celebrity. On his blog, Legal Insurrection, Professor William Jacobson of Cornell Law School effectively accused Warren of engaging in the unauthorized practice of law in Massachusetts.
Are the accusations valid? Let’s hear from some experts — and from you, through a pair of reader polls….
Being an associate at a large law firm isn’t easy. Partners can be extremely demanding, sometimes unreasonably so. But because the partners sign the paychecks, most associates, especially associates with student loans hanging over them, have no choice but to obey. The associate’s fantasy of telling his least favorite partner to take this job and shove it is just that — a fantasy.
But not for every associate. Some associates are so wealthy that working in Biglaw is just something they do for fun. In today’s Lawyerly Lairs, we introduce you to an associate whose new apartment puts many a partner pad to shame….
You didn’t bill that — unless you have a valid law license, right?
One of the most exciting U.S. Senate races this fall is the battle taking place in Massachusetts between Scott Brown and Elizabeth Warren. Even though my personal politics are closer to those of Brown — a moderate, socially liberal Republican — I must admit to a weakness for Warren.
How could I not love Liz Warren? She’s a Harvard Law School professor, a brilliant legal mind. She’s a fabulous, fierce female; even her critics concede that she’s a formidable foe. And thanks to her viral video and her star turn at the DNC, she’s a national celebrity. The Brown campaign has tried to use this against her, but not very effectively. After watching this Scott Brown ad, I just wanted to vote for Warren even more.
According to the latest polling data, Warren holds a slight lead. But could that edge be eroded by the latest controversy, concerning whether Warren has engaged in the unauthorized practice of law?
Let’s check out the allegations, which are being leveled against Brown by a Cornell law professor….
So let’s stick with the theme. Today let’s take a look at the richest lawyers — or, to be more precise, the richest law school graduates — in America. (As we noted last year, many of these moguls never practiced law, or practiced only briefly, before making their fortunes in business.)
Our friends over at Forbes just released the Forbes 400, their annual ranking of the 400 wealthiest Americans. As in years past, the list contains a number of lawyers and law-degree holders. How many?
The last time we covered the lavish signing bonuses for Supreme Court clerks who head to law firms after their time at the Court, the bonuses were flirting with $280,000. We say “flirting with” because, at the time, only certain firms were offering $280K. That princely sum was not yet the market rate for talent emerging from One First Street.
A little over a year later, we can report some change on this front. Even though regular associate bonuses and partner profits might be flat this year, the price for Supreme Court clerks is going up, up, up….
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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