Above the Law

Recent Headlines from Above the Law

 

I want business that gives me a splitting headache to do, because I know that work is not going to be commoditized.

George Bason Jr., global co-head of Davis Polk’s mergers and acquisitions practice, commenting on the complicated transactions he prefers to work on. Bason’s attractive firm recently tied for fourth place with Cleary Gottlieb in Dealogic’s ranking of deals by dollar values in the first half of 2014.

I was in it to kill it. I want to replace lawyers with code.

Tim Hwang, quoted in Kashmir Hill’s piece in the June 16th issue of Forbes, discussing his stint at Davis Polk.

Tech guru Hwang secretly attended law school at Boalt Hall just to score his seven-month gig at Davis Polk, which he spent planning a computer program to replace first-year attorneys by automating tasks like document review (shhhh — don’t tell him about predictive coding or anything like that). Hwang plans to release the program to firms FOR FREE this summer. Look out Biglaw, you’re being forced down the same road Sterling Cooper did with its fancy IBM 360. Watch out for severed nipples!

This Lawyerly Lair is on a pleasant, tree-lined block in Chelsea (click to enlarge).

No, we’re not talking about “law clerk” as in judge’s aide. It’s hard to afford a seven-figure home on a public servant’s salary. We’re talking about “law clerk” as in someone who’s working at a law firm, essentially as an associate, but is not yet an admitted attorney in the jurisdiction.

This “law clerk” and his partner, also a law school graduate, just picked up a spacious Manhattan co-op for a little under $1.7 million. Their housing hunt was chronicled in the pages of the New York Times. Let’s read more about them, and check out the place they finally chose….

double red triangle arrows Continue reading “Lawyerly Lairs: A Law Clerk’s $1.7 Million Apartment”

Partnership: Biglaw’s ultimate brass ring.

Becoming a Biglaw partner does not necessarily mean you’ll live happily ever after. It doesn’t even guarantee financial security. Indeed, some partners end up filing for personal bankruptcy.

But that’s an anomalous case. Partnership at a major law firm might not guarantee you happiness — sometimes you have to leave the partnership to follow your bliss — but it generally brings with it tremendous pay and prestige.

That’s especially true of partnership at the nation’s 10 most prestigious large law firms. Most of them have only a single partnership tier — equity or bust, baby — and sky-high profits.

Who are the new partners at these 10 firms, and what do their selections reveal about Biglaw today?

double red triangle arrows Continue reading “New Partner Watch: Incoming Partner Classes at 10 Top Firms”

This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.

For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.

The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.

Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….

double red triangle arrows Continue reading “2013 Biglaw Bonuses: An ATL Infographic”

In the two years that we’ve been conducting our ATL Insider Survey, we’ve amassed in excess of 15,500 responses from practicing lawyers and law students. These results have provided us with unique insights into what people really think about their employers and schools. We believe our survey information furnishes our readers with a deep resource for comparing and evaluating these organizations, whether in the form of our Law Firm and Law School Directories, or in posts that take a deeper look at such factors as practice area, compensation, or geographic location. Many thanks to those thousands of readers who have shared their experiences.

Obviously, one subject that the ATL readership is passionate about is the world of Biglaw. Whether it’s to assess a potential employer, or to simply see how one’s firm compares to its peers, apparently there’s no end to the appetite for insider information. So as this year winds down, we’ll end on a happy note and have a look at which Biglaw firms are rated most highly by their own employees…

double red triangle arrows Continue reading “ATL’s 12 Top Rated Firms For 2013″

The white-shoe firm of Davis Polk might have been displaced by Paul Weiss as home of the hottest attorneys, but there’s still much to recommend DPW. As you can see from its ATL Career Center profile, it gets high grades both from the lawyers who work there and in terms of industry reputation.

You know what would make Davis Polk an even more appealing workplace? Above-market bonuses….

double red triangle arrows Continue reading “Associate Bonus Watch: Davis Polk”

Last week, we asked readers to submit possible captions for this picture (click to enlarge):

On Monday, you voted on the finalists, and now it’s time to announce the winner of our contest…

double red triangle arrows Continue reading “Caption Contest Winner: Hot Cups”

Last week, we asked readers to submit possible captions for this picture (click to enlarge):

Let’s have a look at what our readers came up with, and vote on the finalists…

double red triangle arrows Continue reading “Caption Contest Finalists: Hot Cups”

Law firms love to slap their names on stuff. If you’ve been through on-campus interviewing or worked as a summer associate, you probably own lots of Biglaw-branded swag, from t-shirts to duffel bags to energy drink.

And now you can sip that Biglaw beverage from a customized container. Check out the picture for our latest caption contest….

double red triangle arrows Continue reading “Caption Contest: Hot Cups”

  • Incredibly Scientific Poll

    What source are you using to find jobs?

    View Results

    Loading ... Loading ...