Law school can be thought of as a Harry Potter-style “sorting hat” for law students (as Dave Hoffman suggests). Similarly, the recent round of pay raises can be thought of as a sorting hat for law firms.
Nathan Carlile has this excellent article in the current issue of the Legal Times:
Call it a near miss.
Earlier this year, New York’s Simpson Thacher & Bartlett raised starting salaries for first-year associates to $160,000. In the competition to recruit top talent, the tactic was similar to one used by Kenyan marathon runners: a midrace burst to separate elite competitors from the pack of pretenders.
But while Simpson’s bump momentarily opened up a $25,000 gap between top-end New York firms and their Washington counterparts, the pack soon matched the move. Eight months later, starting salaries for first-years at most of the 200 largest firms nationwide remain bunched at $160,000.
More discussion — including rumors of Skadden leading a new round of pay raises in New York City — after the jump.
We must confess: we’ve never been huge fans of the bacon-lettuce-tomato sandwich. And we don’t like dogs. In America, these are felonies.
But we’ve finally found a BLT we can enjoy. Say hello to The BLT: The Blog of the Legal Times!
From Jim Oliphant’s inaugural post:
Hey look, it’s a blog.
Not exactly revolutionary at this point is it? So why would Legal Times do it, other than, of course, to slavishly follow journalistic convention.
That’s the cynical reason. The real reason is the opportunity this medium affords us, one that despite the wretched excess of blogs polluting the net remains very real, particularly in the areas this publication watches.
Check out that droll opening line, sans exclamation point. Admire the meta-ness of it all: blogging about their decision to start a blog.
The Legal Timesfolk are off to an excellent start as bloggers. Check out these two juicy posts (picked up by HowAppealing):
1. Seller is Relocating, about how Justice Alito has put his New Jersey home up for sale (we’ll probably do a Lawyerly Lairs post on it); and
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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.