* The shaming of Professor Rene Reich-Graefe continues, with Steven Harper weighing in. Law professors… so many people are onto your game of creating rosy scenarios to dupe prospective law students. Maybe you could spend more time trying to fix the problem in legal education, and a little less time trying to hide it? [Belly of the Beast]
I think we’ve long known that law is a refuge for people who are afraid of numbers. People who are good at math don’t borrow hundreds of thousands of dollars for a shot at winning the bi-modal salary distribution lottery and a job that they’ll most likely hate. I don’t think we needed a longitudinal survey to show that.
Studying law is hard, and your financial success is somewhat directly tied to the amount of hours you work. A banker can earn money in his sleep. A lawyer has only 24 hours in a day to bill. If your family makes a lot of money, aren’t you supposed to get an anthropology degree and work for an NGO? Why would you slum it with the social climbers trying to get into the upper middle class, one deal sheet at a time?
* Demand is down, but fees are up. The good news is that Am Law Second Hundred firms saw gains in billable hours purchased by corporate clients — and that’s about it for the good news. [Am Law Daily]
* OMG, Dewey want to see the unsealed case records against D&L’s ex-leaders. DA Cy Vance wants our prying eyes to see all but one document. Secret seven identities… incoming! [Bloomberg]
* It looks like that time Sheryl Sandberg refused to lean in is really paying off in court. Facebook is a witness, not a defendant, in an antitrust case about non-poaching agreements between tech giants. [Reuters]
* Gaming the rankings for dummies? Law school deans are now pushing the ABA to require that law schools post their transfer students’ LSAT and GPA credentials. [Capital Business / Washington Post]
* The easy way to decide whether you should be working in law school is to determine what you like more: money or grades. One will help you get the other later in life. [Law Admissions Lowdown / U.S. News]
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Joshua Stein gives some practical advice to lawyers on how to land their second job out of law school.
If and when you decide to leave your first job out of law school, finding your next job will differ in huge ways from the law school recruiting process. The search will give you all sorts of new opportunities to screw things up. This article, however, will arm you with some strategies for success. It starts from the assumption you want to move from one law firm to another. Many suggestions here also apply to other moves, but you will need to adjust them as appropriate.
Law students love to bash the staff of their law school’s career services office. Students often roll their eyes as they describe a staff, usually all female, most with law degrees, who have allegedly traded in the law firm life for a 9-to-5 job. The students often comment that the staff does nothing to help the students secure jobs. Well, I wish to share with you a harsh reality that your law school counselors may not be able to impart directly.
When a student presents to the career services office at law school for a résumé review, there is very little that the counselors can do at that point. The counselors can, of course, suggest the reordering of text and/or tighten certain job descriptions. But YOU are the one who has made certain professional choices, and the staff cannot rewrite your history. A résumé is impressive not because it is well-written; a résumé is impressive because it demonstrates curiosity, risk-taking, and a desire for depth of experience.
I think his primary prescriptive advice — in essence, our problems will be cured with the passage of time — is naive and potentially dangerous to those who follow it.
– IU Law professor William Henderson, eviscerating the stupid arguments of WNEU Law professor Professor René Reich-Graefe so I don’t have to. Reich-Graefe went with the whole “lawyers are retiring” and “people need legal services” claims that appeal to prospective law students who aren’t thinking critically about the future market for legal services. If you don’t know why listening to Reich-Graefe’s wishcasting is “dangerous,” Henderson explains it all on Legal Whiteboard.
‘I know it’s hard, but at least you’re making about $14/hour!’
The value of an attorney isn’t what it used to be. While you’re all ravenously pouring over the U.S. News Law School Rankings to figure out which six-figure law degree is closest to its face value, it’s a good time to check out Craigslist and see exactly how rough newly minted lawyers have it out there. Unless they’re willing to hang up their own awesome shingle, that is.
Contractors are struggling to pay off their loans collecting paltry hourly wages, and now there’s a firm willing to pay a young lawyer even less…
I’m not sure I’d recommend that a young person go into law.
When I was starting out, it was more of a profession, and your worth was determined by the service you provided. Now it’s become more of a business, and your worth is determined by the fee you’re able to collect.
– An honest lawyer who happened to be passing through Grand Central Terminal in Manhattan when he was photographed by Brandon Stanton of Humans of New York.
(Do you agree with him? Feel free to sound off in the comments.)
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
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.
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.