Our open threads on Vault 100 law firms seem to be drawing fewer comments. But we’ll finish what we’ve started. We don’t want to give you a case of these.
So here is this afternoon’s set of Biglaw shops (with Vault prestige scores in parentheses):
We’re big fans of Miami. We greatly enjoyed the visit we paid back in March, when we got to meet up with readers at an ATL Happy Hour.
So we’re more than happy to make Miami the next stop on our tour of the nation’s legal markets. Here’s a summary of the lay of the land, courtesy of the Daily Business Review:
Playing its hand in the South Florida associate pay stakes, Greenberg Traurig raised the starting base salaries of its rookie lawyers in Miami and Fort Lauderdale to $135,000 and their total compensation packages to more than $150,000….
The base salary of Greenberg’s first-year lawyers now will match that of White & Case, which in February announced that it had raised first-year salaries to $135,000 in Miami.
Holland & Knight, Hogan & Hartson and Akerman Senterfitt recently raised salaries for rookie lawyers to $130,000 in South Florida.
Hunton & Williams has raised its first-year salaries to $145,000 in Miami. Two New York-based firms, Weil Gotshal & Manges and Boies Schiller & Flexner, pay first-years $160,000 in their South Florida offices.
Today has been quiet in terms of associate salary news. Perhaps pay raise developments have been overshadowed by Charney v. Sullivan & Cromwell. Also, since so many places have already announced, it’s only natural for the pace to slow down.
But there have been a few new announcements. Per the Daily Report, Holland & Knight has raised its base salary for entering associates to $130K. And there appears to be a Sheppard Mullin memo out, too.
(If you’re at the firm, please email us to confirm. A blank email from a Sheppard Mullin address will suffice.) Update: The Sheppard Mullin memo has been confirmed. We now reprint it after the jump.
Our last comment thread about associate compensation matters appeared before lunch. So here’s a fresh one. Have at it! The latest hike: Holland & Knight to start at $130K [Fulton County Daily Report]
Tons of moves to report today — and these are just the highlights: New Partners:
* Latham & Watkins — which, as discussed yesterday, is very popular with Supreme Court clerks — has elected 26 new partners, in offices around the country. That’s enough lawyers to start a whole new law firm.
You can check out their names here. If you graduated from law school around 1998, you probably know some of them. “Magic Circle” Hiring Spree:
The top British law firms — aka the “Magic Circle” firms — continue to cast spells over U.S. practitioners, who have been flocking to their American offices in droves.
* Louis Kimmelman, former co-chair of O’Melveny & Myers’s international arbitration practice, is heading to Allen & Overy’s rapidly growing New York office. Kimmelman regularly appears before the International Court of Arbitration of the International Chamber of Commerce, the American Arbitration Association, and other tribunals.
* Finance lawyers Zarrar Sehgal and Anthony Lopez III, to Clifford Chance (NY), from Milbank Tweed and Cahill Gordon, respectively. Lateral Moves:
* Corporate and securities lawyer Michael Student, to Brown Rudnick, from Holland & Knight.
* Tax lawyer James Tander, corporate lawyer Patrick de Carbuccia, and real estate lawyer Michael Pollack, to Reed Smith (NY). They come from, respectively, Skadden Arps, Willkie Farr, and Withers Bergman of (New Haven, CT). Government to Private Sector:
* Sharon McCarthy, a former deputy chief of the U.S. Attorney’s Office for the Southern District, to litigation and tax boutique Kostelanetz & Fink, as a partner. Internal Promotions:
* Paul Tvetenstrand, a partner in the structured finance practice group, has been elected chairman and managing partner of Thacher Proffitt & Wood. Latham & Watkins Elects 26 New Partners [Latham & Watkins] NY Partners Switching Firms, NY Lawyers On the Move [NYLawyer.com] More NY Partners Switching Firms [NYLawyer.com] Firm Promotes 26 to Partnership [NYLawyer.com] NY Practice Leader Switches Firms [NYLawyer.com]
* Four litigation partners, and possibly a dozen associates, are leaving White & Case to join the New York office of Linklaters — a “Magic Circle” firm (insert squeal of delight here). The group’s practice focuses on white-collar criminal, antitrust, and other regulatory matters.
The four partners are Lawrence Byrne, a former assistant U.S. attorney (S.D.N.Y.) and deputy chief of the DOJ’s organized crime section; Joseph Armao, a former assistant district attorney in Manhattan; Lance Croffoot-Suede, who was hired by Linklaters based solely on his fabulous, British-sounding name; and Paul Alfieri, who was not.
* Corporate lawyer Michael Student and bankruptcy lawyer Neil Pigott, to Brown Rudnick Berlack Israels, from Holland & Knight and Mandel Katz, respectively.
* Private equity lawyer Robert F. Kennedy, to Jones Day, from Latham & Watkins.
From the New York Law Journal: “Mr. Kennedy is not related to the former U.S. attorney general and New York senator whose son is a well-known environmental lawyer and political activist.”
RFK. Jeez, poor guy. And it doesn’t even help him get restaurant reservations. NY Firm Loses Four Partners, and 12 Associates May Follow [NYLawyer.com] NY Partners Switching Firms [NYLawyer.com] Firm Adds NY Private Equity Partner [NYLawyer.com]
Fear not, dear readers. We will be issuing a Legal Eagle Wedding Watch for this past weekend — it will just be a little late. Like you, we’re also recovering from the Labor Day holiday weekend…
In the meantime, we’re going to introduce a participatory element to Legal Eagle Wedding Watch. A number of you have complained about our scoring. Some think we’re too harsh, while others accuse us of “grade inflation.” Rating couples in categories like their career achivements and looks is obviously a subjective business.
So now we’ll turn over the proceedings to you, and let the voice of democracy be heard. We’d like to crown a Legal Eagle Wedding Watch “Couple of the Month” for August 2006 — but we need your help.
We’re taking the winning couples from each week in August — plus the winning couple from the last week in July, ’cause we don’t want them to feel left out — and pitting them against each other in an ATL reader poll. Here it is (competitors listed alphabetically by bride’s last name):
Don’t remember these couples? To refresh your recollection, Above the Law’s prior write-ups of each couple — which include their complete scores, plus a link to their original New York Times wedding announcement — appear after the jump.
* Allegations of bill padding at Holland & Knight. An isolated occurrence — or more widespread within Biglaw? [WSJ via WSJ Law Blog]
* The secret to success: Wake up early. Like really early — try 3 a.m. That Ann Althouse is a machine! [Althouse]
* Here’s a link for those of you who don’t think we need tort reform. It’s a long post, but well worth reading. (And it’s not Ted Frank’s fault that the reporter got so much wrong.) [Overlawyered via Volokh Conspiracy]
* We think that judicial clerkships are fabulous — for clerks, for judges, and for this great nation of ours. But Raffi Melkonian disagrees — and makes some interesting points. [Crescat Sententia]
Another summer weekend, another raft of attorney weddings. Plenty of fodder for this week’s edition of Legal Eagle Wedding Watch, in which we review selected lawyer nuptials from the New York Times wedding announcements — and assign numerical scores to each couple. We rate them in three to four categories: on their résumés, their families, their couple balance, and their beauty (if pictured).
Today four couples are vying for the coveted title of highest-flying legal eagles:
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: