Lateral Moves

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

The “Legal” world versus the “legal” world. The actual practice of law versus the construction of practices and firms. These are diametrically different disciplines, and while the demand for “Legal” work influences the “legal” world phenomenon of lateral hiring, many other market conditions dictate demand and compensation for partners.

Partners are often sequestered from the tedious details of the lateral market and, consequently, they often undersell themselves to firms and subsequently become underpaid. If you’re a partner looking to make a move, here are 5 beginner’s tips to maximize your lateral partner compensation package:

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For the past eight years, the National Association of Women Lawyers has tracked women’s progress at the 200 largest firms in the nation by comparing their careers and compensation with similarly situated men. We snidely remarked last year that reviewing the most recent report was like “drinking a fifth of gin, then watching Requiem For A Dream: it’s really freaking depressing.”

Keeping that in perspective, we — perhaps over-optimistically — thought that in a year’s time, Biglaw firms would have realized that women have a rightful place in this profession, and deserve to be treated as fairly and as equally as their male counterparts. We were clearly and painfully delusional.

Sure, the percentage of female equity partners rose from 15 percent to 17 percent, and that’s great. But we’ve found out that an “unprecedented” number of Biglaw firms refused to participate in the survey. Was it because they’re sick of surveys, or was it because firms “are generally less interested in the subject of advancing women lawyers and/or are hesitant to share, even on an anonymous and confidential basis, statistics that show that their women lawyers lag behind their male counterparts”?

Let’s find out….

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Smokey Bear, please report to Patton Boggs.

Is Patton Boggs on fire — and not in a good way?

The prominent lobbying and law firm recently announced the closing of its office in Newark, New Jersey. Discussing the move with Politico, managing partner Edward Newberry said, “We’ve lit intentionally a forest fire, we’ve controlled that forest fire. While we’ve lost a few people over the last year, who are good friends and good partners, our firm is much stronger today than it’s been in a long time.”

The firm has lost “a few people” over the last year? How about roughly 100 attorneys, representing 20 percent of lawyer headcount, plus an unknown number of staff? With additional prominent partners said to be eying the emergency exits?

Somebody call 911, law firm fire burnin’ on the dance floor….

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One of the questions I have been asked since leaving Biglaw is how I decided to join forces with my current partners. It is a good question, because over the years I have had the opportunity to work with many lawyers, both at my firm and at others. I have technically even had hundreds of “partners” between my two prior Biglaw firms. But other than my current partners, I can think of only a handful whom I would have considered opening a firm with.

My professional ambition was never to open a boutique. I very much enjoyed my time in Biglaw, and always thought that I would stay in Biglaw for the remainder of my career. Did that mean that I expected to remain at the same firm for my entire career? Of course not, no matter how appealing that idea sounded. The fraying of the Biglaw social contract as a result of the 2008 recession sealed that deal. But it was a big leap from knowing that my career could involve some moves within Biglaw to leaving Biglaw altogether.

Finding the right compatriots was a critical element of that decision. How did it come about?

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More than a week after we broke the news, the New York Law Journal got around to covering the Kasowitz Benson layoffs. (Thanks for crediting us, NYLJ.)

Although the report is untimely, it contains a few new bits of information about the Kasowitz cuts. Here are the highlights, along with additional info from Above the Law sources….

(Please note the UPDATE at the end of this post.)

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Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Abby Gordon is a Director at Lateral Link, focusing on law firm and in-house searches, primarily in the New York region, Boston, and Paris.

I was a paralegal before law school. I took four years between undergrad and law school, so I knew a herd of practicing lawyers when I was still applying to law school. I thought I had a leg up on everyone; I thought I had it all figured out. But in hindsight, I realize that there was a lot I did not know — not in law school and not as I made my way through seven years as an associate with a top international law firm.

Now as a legal recruiter, I see associates making the same mistakes over and over. I wish law schools would do a better job of preparing students for the practicalities of the legal industry and not just teach the substance of the law. But until they do, here is my list of key points to understand and mistakes to avoid…

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There’s lots of good partner-level news coming out of Morrison & Foerster. The firm has been hiring new partners (including a star of the bankruptcy bench and an FCPA guru), bringing back former partners, and making new partners.

What about associate-level news? That brings us to today’s topic of bonuses for MoFo associates (non-NYC)….

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On our recent post about bonuses at Bingham McCutchen, some commenters complained about our coverage of the firm. Here’s what one said: “What this article fails to mention is that NO ONE made their hours, it’s THAT slow. Good job, ATL, for eating whatever it is Bingham pays you to NOT report [on bad goings-on at the firm].”

Actually, we’re perfectly willing to report on negative developments at Bingham (or any other major law firm). Just email us or text us (646-820-8477), and we’ll investigate.

There’s certainly a lot to cover over at Bingham: tumbling profits, partner departures, and unfortunately timed staff layoffs. We’ve collected some reporting from around the web, which we’ve combined with inside information from ATL tipsters at the firm. Let’s have a look, shall we?

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George Zimmerman, Esquire?

* Mayer Brown issued a response in the wake of its NSA scandal, saying there’s “no indication” spying happened “at the firm.” Spying “of the firm” is another question, but don’t worry, clients, your information is totally secure. [Chicago Tribune]

* “He is almost treating the clients as chattel.” Lateraling may have just gotten harder, because a judge in the Howrey case expects you to kiss your book of business goodbye as soon as you ditch your firm. [Wall Street Journal (sub. req.)]

* Law school applications have plummeted, but some schools are really struggling. Which had the largest drops in enrollment? Take a wild guess. We’ll have more on this later today. [National Jurist]

* You can’t just sit back and relax after you’ve sent off your law school applications. You need to gun your way to enrollment and be as appropriately annoying as possible. [Law Admissions Lowdown / U.S. News]

* George Zimmerman, who says God is “the only judge that [he] has to answer to,” hopes that he’ll eventually become a lawyer. We imagine that kind of an attitude will earn him a sanction or two. [CNN]

This is pretty archaic.

* Being a mass murderer wouldn’t be any fun if you couldn’t play video games. Also, let’s Upworthy this: Elie tells a story about himself dancing naked… you won’t believe what happens next. [ATL Redline]

* Ted Wells of Paul Weiss finally got off his duff and issued his report on the harassment situation in the Miami Dolphins locker room. [Deadspin]

* ♫Rubber Duckie, you’re the one, you make state legislative sessions drafting complicated statutes allowing gambling on racing you so much fun!♫ [Lowering the Bar]

* From the “dick moves” file, this guy put up a Craigslist ad pimping out his neighbor without her knowledge or consent. From the f**king idiot files, this guy had no idea how easy it would be for the authorities to track him down. [IT-Lex]

* Is the aggressive lateral partner recruitment strategy bringing results? [Adam Smith, Esq.]

* There’s pretty much nothing OK with the new gay segregation law in Kansas. [Lawyers, Guns & Money]

* The Virginia decision legalizing gay marriage made one slight misstatement. “Our Constitution declares that ‘all men’ are created equal.” Really? Does it now? [Josh Blackman's Blog; WSJ Law Blog]

* Intelligence Squared held a debate last night between Pentagon Papers whistleblower Daniel Ellsberg and the ACLU’s Ben Wizner against former prosecutor (not Weekend at Bernie’s star) Andrew McCarthy and former CIA Director R. James Woolsey on the question: Snowden Was Justified. The video is embedded after the jump…. [Intelligence Squared]

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