Back in July, following the news of the possible purge of junior faculty at Seton Hall and the staff massacre at McGeorge, we wondered: “Which law school will be next?” With law school applications still in free fall, something, somewhere, had to give, and it certainly wasn’t going to be beautiful buildings, the price of tuition, the number of tenured professors, or their similarly splendid salaries.
No, the easiest way to save money — $4.4 million of it — is by dropping the unimportant human weight, and the most expendable souls seem to hail from the adjunct faculty and staff ranks at the latest law school to conduct layoffs. Which esteemed academy of legal education could it be?
We’ll give you a clue. The school is no stranger to controversy, seeing as it served as the origin of the very first law school lawsuit over deceptive employment statistics ever filed….
Today, just as we roll into the weekend, we’ve got even more layoff news. One of the biggest law firms in Connecticut, one that last conducted layoffs at the start of the recession, is handing out walking papers to as many as 40 of its attorneys and staff members. Which firm, and why?
* As “one of the most respected appellate judges of her generation,” Patricia Wald, the first woman appointed to the D.C. Circuit, was awarded the Medal of Freedom. Congrats! [Blog of Legal Times]
* Biglaw firms saw “anemic” growth in the first half of 2013, and according to the latest Wells Fargo survey, some “minor cuts” are expected in headcount. Well, that’s just great. [Am Law Daily]
* “It is a period of significant change for the firm. That requires some hard decisions.” Patton Boggs has already conducted layoffs, so what could possibly be next for the firm? [Wall Street Journal (sub. req.)]
* Sorry guys, but it looks like Reema Bajaj’s bajayjay will be out of session for the foreseeable future. The attorney accused of exchanging sex for office supplies has agreed to a three-year suspension of her law license. [Chicago Tribune]
* Rather than be bought out by InfiLaw (it could “diminish the value of their degrees”), Charleston School of Law alumni are trying to organize a merger with a public school. Good luck with that. [Greenville News]
* Nebraska will offer a doctorate in space law, which makes sense because… f**kin’ magnets, how do they work? But really, we’re willing to bet it’s because of all of the crop circles in the state. [Miami Herald]
* No joke necessary: This law school claims its rights are being infringed upon because it has to disclose how many of its graduates — 7 percent at last count — have passed the bar. [WSJ Law Blog (sub. req.)]
* Two of Dzhokhar Tsarnaev’s friends were indicted on obstruction of justice charges. If convicted, the pair will face up to 20 years in prison, and they don’t even have a Facebook fan page to show for it. [Bloomberg]
The ABA, and law schools in general, have been really slow to respond to the new realities of legal education. There’s institutional resistance to changing the way things have always been done.
Arguably, a company like BARBRI can be much more flexible in response to student needs. And, as many tipsters have told us over the past couple of weeks, BARBRI is making some changes. Which is kind of a nice way of saying that BARBRI laid off some people.
I recently spoke with BARBRI president Mike Sims about these moves…
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Kristina Tsamis shares some career advice for JD/MBAs from a panel discussion hosted by Duke Law in conjunction with other peer law schools.
We spend a lot of time discussing the dismal employment outcomes for JD grads. Things aren’t so rosy for MBA graduates either. To talk about a dual JD/MBA degree in this context seems like a double fail — a one-two punch of more work and potentially more debt in exchange for the same sad outcome.
Enter the panelists of How to Use the JD/MBA Degree in Business and Entrepreneurship: all JD/MBA graduates who touted the usefulness of a dual degree during a discussion hosted by Duke Law in conjunction with other peer law schools. The panelists centered their advice on four main areas: what to focus on while pursuing the dual degree, how to select a good mentor, how to interview well, and how to stop being risk-averse.
1. Maintain the Right Focus as a JD/MBA student
That class in early English case law will leave you painfully ill-equipped for the modern practice of law. But there are some courses you should be paying attention to, both on the JD and MBA side.
When times are tough for law firms, others suffer too. If a firm as prestigious and profitable as Weil Gotshal is conducting open and notorious layoffs, and rival firms are conducting stealth layoffs, rest assured that other creatures in the Biglaw ecosystem — technology vendors, legal recruiters, Mercedes dealers — are feeling pain.
Take media outlets that cover law firms. American Lawyer Media recently cut at least 35 positions from its editorial and production staffs, amounting to about 7 percent of headcount within those two groups. Kevin Michielsen, chief operating officer of ALM, said the layoffs resulted from the company’s shift to being a “digital-first” operation, not cost cutting. But considering that ALM labors under a nine-figure debt load, cost cutting might not be a bad idea.
But the Am Law layoffs pale in comparison to the cuts over at LexisNexis, at least in terms of raw numbers. The company didn’t provide numbers, but the estimates might surprise you….
After hearing rumors of no mid-year bonuses at QE, we reached out to the firm for comment. Founding partner John Quinn confirmed the reports, correctly noting that the market has not paid spring or summer bonuses this year.
John Quinn also denied various other rumors about Quinn Emanuel, to which we now turn….
Despite the problems and challenges facing large law firms, making partner at a Biglaw firm remains a big deal. As an old friend told me a few years ago, comparing his pre- and post-partnership existences, “My life has been transformed. I feel like I’ve been let into a special club. Overnight, the same people treat me in completely different ways.”
My friend isn’t the only partner who feels like he got kissed by a princess and turned from a frog into a prince. Others recognize the transformative power of making partner as well. In the words of our very own Anonymous Partner, “You now occupy a new professional status, and the nature of making partner is such that no matter how badly you screw up the rest of your life, you have accomplished something very rare. It is a life milestone, on par with getting married or winning the lottery in terms of its immediate alteration of your identity.”
Comparing making partner to winning the lottery is apt: many lottery winners don’t live happily ever after (as brilliantly captured by this Onion article, Powerball Winners Already Divorced, Bankrupt). A fascinating new piece in The New Republic goes behind the scenes at one major law firm and shows that being a Biglaw partner in the twenty-first century isn’t all peaches and cream. In fact, aspects of being a partner sound as appealing as rotten fruit (and this isn’t just sour grapes)….
Would you pack it all in if offered a lot of money?
This isn’t your father’s Davis Polk. The venerable firm, known for uber-white shoes and super-blue-chip clients, is changing.
(Let’s hope the firm maintains its commitment to hotness in hiring. Someone has to care about beauty in Biglaw, right?)
Under managing partner Tom Reid, DPW has become energized, entrepreneurial, and expansionary. Since Reid took the reins two years ago, the firm has pushed into new areas and gone on a lateral partner hiring spree — a sign that DPW is no longer waiting for work to come its way, but seeking out business more actively.
So maybe it shouldn’t be shocking to learn that DPW, given this growing focus on the bottom line, is following the trend of offering buyouts to reduce the ranks of support staff….
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 seven years. You can reach them by email: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
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