Welcome, intrepid readers. We have our first column in the books, and we are already receiving interesting tips about the seedy underbelly of being “licensed to practice law in at least one jurisdiction” (as most advertisements for contract attorney jobs artfully put it). Keep them coming — learning juicy tidbits from the ghetto of the legal world is more fulfilling than coding documents.
This is Above the Law, and I know what keeps all of you clicking away… it’s all about the money money money. So what kind of a living can you expect to make if you are a contract attorney? Law students — you may want to take notes. Hell, if you’re a young Biglaw associate, you should also probably take notes… several Dewey associates can tell you what I mean.
Another day, another ranking. Princeton Review has released its annual law school ranking, which we hereby dub the Everyone Gets a Trophy Awards. Each year, the list is divided into 11 categories, and each one seems to be filled with results even more asinine than the last.
While the results here leave much to be desired, surely people will be interested in seeing which schools are doing the best in terms of their graduates’ ability to get jobs (not necessarily as lawyers, mind you, but jobs, period). Thankfully, there’s a ranking for that.
But can we live in a world where Yale Law isn’t number one — or on the list at all? Let’s find out…
* Musical chairs (White House hottie edition): Michael Gottlieb, former associate counsel to President Barack Obama, is joining the Washington, D.C. office of Boies Schiller & Flexner. [The BLT: The Blog of Legal Times]
* The search is on for jurors to serve in the criminal trial for Bernie Madoff’s former employees, but in a case of guilt by association, it’s proving to be a difficult exercise. [WSJ Law Blog (sub. req.)]
* “Democracy is not on autopilot,” said Justice Kennedy at Penn Law. Just because we have a Constitution doesn’t mean it will prevail — which is being evidenced by our government now. [Philadelphia Inquirer]
* Because no one could be more “non-essential” than a law student during this mess, the government shutdown is taking a toll on their externship placements throughout the district. [National Law Journal]
* The Princeton Review’s annual law school rankings are out, and boy, have things changed — including the schools with the best career prospects. We’ll have more on this news later today. [Chicago Tribune]
* Cooley Law is teaming up with Eastern Michigan University to offer joint degrees. But we thought Cooley was teaming up with Western Michigan University. Is Cooley infiltrating all Michigan schools? [MLive.com]
* A-Rod’s lawsuit against the MLB is a fascinating read. It alleges the MLB investigator was having sex with witnesses during the investigation. And A-Rod knows about screwing over the people he should be helping while on the job. [Deadspin]
* Sinead O’Connor threatens to sue Miley Cyrus. Too many jokes are available for this, so let’s just take a moment of silence and let you choose your favorite. [Jezebel]
* Job posting for a bankruptcy associate noting, “good organization & keyboard skills required.” And they desperately need someone with those skills if this error-filled posting is anything to go by. Screenshot here in case they figure this out. [Bright]
* Conservatives are rallying to the soon-to-be heard case of a woman who smeared deadly chemicals around a house where innocent children could have been exposed. Because it’s only about protecting children before they’re born. [Newsweek]
* A law professor wonders if he suffers from narcissistic personality disorder. I wonder if narcissism is a common affliction among law professors. On an unrelated note, here’s a picture of Professor Brian Leiter. [Law Prof Blawg]
* A secret society of fun-loving drinkers are leaving gifts around Boalt Hall. The society, known as “The Gun Club,” was founded by none other than Chief Justice Earl Warren. It’s called “The Gun Club,” eh? People always forget that Earl Warren was a Republican. [Nuts and Boalts]
* With fundraisers for students beset by bad luck on the upswing, here’s another one. After the massive flooding in Boulder last month, many Colorado Law students lost housing, cars, furniture, books, and computers. Please help them out. [Indiegogo]
* How about someone builds the Supreme Court in Minecraft? Video after the jump….
* According to Altman Weil, law firm merger mania is on pace for record highs as firms desperately attempt to stave off financial problems by gobbling up smaller firms’ clients. [Am Law Daily]
* The NCAA better watch its back: Jeffrey Kessler, the Winston & Strawn partner who helped bring free agency to the NFL, wants in on the potential case for unpaid college athletes. [Bloomberg]
* Lawyers doing regulatory work are very afraid that the shutdown will decimate their fourth quarter billables because “[t]he longer it goes, the more problematic it will be.” Yay government. [Reuters]
* GrayRobinson partner Philippe Devé is in need of a bone marrow transplant, and his firm is using its social media presence to crowdsource a donor. Will you lend a helping hand? [Daily Business Review]
* UpCounsel has successfully raised $1.5 million in funding to beef up its international patent practice, proving the point that it costs a pretty penny to protect clients from the world’s patent trolls. [TechCrunch]
* Law schools in New York State are feeling the pain of the drop in applications, and some are now willing admit that their graduates had to start “cannibalizing each other” in the job market. [New York Law Journal]
* But really, so what if applications are down? Lots of law schools consider themselves lucky to be keeping the lights on with the assistance of generous alumni donations in the millions. [National Law Journal]
* Another day, another “diploma mill.” Sorry to disappoint you, law students and alumni, but Charleston School of Law is moving forward with its plans to sell out to the InfiLaw System. [Post and Courier]
* Who’s bad? Not AEG Live. A jury made up of people unable to answer yes or no questions during the reading of the verdict found that the concert promoter wasn’t liable in Michael Jackson’s death. [CNN]
The glory days of 2006 and 2007 may never return. They call it the “new normal” for a reason.
But things at least can get better incrementally. And this is what might be happening in the in-house world, according to two new surveys. These studies report that in-house legal departments are increasing both their hiring and their spending — which could be good news for the law firms that service them, as well as all the Biglaw attorneys who dream of making the jump to in-house.
Don’t say that we never give you happy news around these parts….
Ed. note: The Aspiring Lateral, a new series from Levenfeld Pearlstein, will analyze a variety of issues surrounding lateral moves, drawing on the firm’s experience in the lateral market as well as the individual experiences of LP attorneys. Today’s post is written by Angela Hickey, LP’s Executive Director and a member of the firm’s Executive and Compensation Committees.
There’s a point in budding relationships where things get down to brass tacks. You put away the flowers and candles, and find out whether you have a long-term future. You have full and frank discussions about kids, religion, finances, and how those troublesome in-laws might fit into your future life. It may not be as romantic as your weekend in the Berkshires at that place with the clawfoot tub, but it’s necessary. Because you just might find, away from the clean mountain air and raspberry scones that the bed and breakfast served each morning, that you’ve got a serious issue or two. You might in fact . . . have a dealbreaker. And that, in a word, is why prospective laterals should take the due diligence process as seriously as firms do.
The due diligence process — some version of which all respectable firms will have in place — is the offering firm’s last and best chance to closely examine the lateral before extending an offer. (In the case of fast-moving lateral hires, the hiring firm may even give a conditional offer before or simultaneous with due diligence.)
Because of its timing, there is a temptation to think of due diligence as a mere formality before the lateral picks up stakes. But it is a rigorous process, and one that laterals can and should use to perform their own final checks…
A couple of years ago, we had a lot of good fun with the commencement address at Emory School of Law. A professor there, Sara K. Stadler, gave a commencement speech telling students who were graduating into a terrible job market to get over their own sense of entitlement. Then she told them to move to Nebraska.
Interestingly, Stadler did, in fact, up and move to Nebraska. She is now at Creighton University School of Law. She left a tenured position at Emory to be an adjunct at Creighton, so… living the dream, I guess.
The state of Nebraska needs more people like Stadler. Apparently, the state is desperate for lawyers willing to work in rural counties. Unfortunately, Nebraska isn’t putting its money where its mouth is. They could probably learn something from South Dakota….
Earlier this month, the National Jurist released its first-ever ranking of the private law schools with the “best value.” We found it odd, of course, that the “best value” designation was awarded to schools where less than half of students (and in some cases, less than a third of students) are able to retain their merit scholarships, but we tried to give the magazine the benefit of the doubt. After all, this is the same publication that used incorrect indebtedness figures to crown at least three schools as offering the “best value” in the nation, as recently as last year.
We thought that maybe things would be better when National Jurist rolled out its seventh annual Best Value rankings, for both public and private law schools. The Best Value ranking system takes into account a law school’s tuition (25% of study), students’ cost of living expenses (10%), students’ average indebtedness upon graduation (15%), the percentage of graduates who got a job after graduation (35%), and bar passage rates (15%). As in years past, National Jurist ranked only the top 20 schools, and gave letter grades to the rest of the schools on the list, ranging from A- to F.
So were this year’s Best Value rankings as fraught with error as last year’s? Continue reading to find out…
Three of your Above the Law editors — David Lat, Elie Mystal, and Joe Patrice — met up in the ATL offices earlier this week to discuss whether going to business school is a better financial decision than going to law school.
Spoiler alert: Elie thinks law schools cost too much.
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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