It’s the first week of August, and it seems that Biglaw firms are still handing out offers to their summer associates like candy. Don’t worry if you haven’t received one yet, because some firms are still daring enough to wait until their summer associates are back in school before they welcome their new crop of future associates.
Sure, summer associate classes are smaller than they were before the Great Lathaming and Dewey’s Demise, but now that things are starting to look up, offer rates seem stronger than ever.
Following up on Tuesday’s story, here are more firms that have given offers to all of their summers:
Once again, we’ve had a slow summer in terms of summer associate gossip. Thanks to the plight of recent law school graduates and their ever-lasting joblessness, it’s a “buyer’s market for law firms” out there, and they’re using it to their advantage.
Summer associates have worked harder than ever before, and they’ve been on their best behavior. Trust us when we say we would have already heard about it if they weren’t, and the only sounds we’re heard have been the chirping of crickets.
We long for the days of lesbianic liplocks and helicopter hijinks, but we suppose we’ll have to settle for what the new normal has given us, which has been nothing short of boatloads of boring.
Given all goody-two-shoes summer associates this year, we’d like to think that offer rates will be absolutely awesome. Let’s find out which firms are rocking the 100 percent offer rate — information that rising 2Ls will want to know as the new on-campus interviewing season starts up…
Last week I wrote about the bar exam. This week I am hearkening back to happier times after first and/or second year of law school: fat paycheck, lunch out everyday, the life of a Biglaw summer associate.
But maybe it isn’t quite the same experience for everyone….
So, you’ve arrived. You’ve been on-boarded. You’ve received your work i.d. and your email account has been activated. You’ve located the nearest bathroom. You’ve committed your secretary’s name to memory. You are eagerly awaiting your first assignment.
So how do you assure that you have the best summer possible? A summer where you have the chance to truly assess whether or not you like Biglaw (as opposed to a summer focused on whether Biglaw likes you)? A summer where you end up with an offer at the end?
It depends. Your view of the direction of the job market for summer and entry-level associates will depend upon which metrics you focus on. That seems to be the bottom line of the latest findings from the good folks over at the National Association for Law Placement (NALP).
The overall outlook seems to be… muddled. Some indicators are up a little; some indicators are down a little. Things appear a bit flat — which is not that different from last year.
But I’m finding (or trying to find) reasons for optimism. Hear me out….
It’s absolutely detrimental. It was brought up in almost every interview I had after that. No one came right out and said I was rejected because of it, but you definitely get the sense that you are seen as damaged goods. A lot of the people I know who got no offered have been able to rebound from it, but they have all struggled. And that’s not even getting in to the psychological damage.
Last week, we wrote about a recruiting snafu involving Kasowitz Benson. The high-powered litigation firm had an unexpectedly high yield for its 2014 summer program, so it started making phone calls in which it either pressed students with offers for a fast decision or effectively rescinded the offer, urging the student to go elsewhere.
A rescinded offer is bad news, especially in an age when fewer students have tons of offers to choose from. But a rescinded offer of a summer associate position is better than a cold offer at the end of the summer, right?
After our story about the controversial Kasowitz calls went up, we heard from multiple former summer associates at Kasowitz with additional allegations of shady behavior — specifically, cold offers….
Being a summer associate just isn’t what it used to be. Sure, there are still fun parties and social events to attend, but in the back of everyone’s mind is the creeping worry that out of all the classes of 100 percentoffer rates, they might be the one to get left behind. They’re very, very worried about making the cut, especially considering the fact that others have been forced to apply for deli clerk jobs. They realize even more that they hold their own futures in their hands, and this year, they were literally begging for more work and more hours.
These were the conclusions drawn from the American Lawyer’s 2013 Summer Associate Survey. Am Law polled 3,817 law students at 134 firms about their summer experiences and used the results to rank 112 summer programs. This year’s crop of would-be lawyers were even more worried than last year’s, which speaks volumes about the unease coursing through Biglaw during a time when layoffs and buyouts — on the staff, associate, and partner level — were running rampant.
But even so, the overall rankings were positive (though perhaps the summers rated their firms so highly out of fear for getting no-offered, we’re not sure). If you’re a law student trying to figure out where to spend your summer, you’re probably asking: which law firms came out with the highest scores?
A brief tangent. I was shocked and appalled to find out that I wasn’t asked my thoughts about being no-offered by your summer firm. As, perhaps, the only ATL writer who found himself in such a situation, I thought my insights would be particularly valuable. Instead of cobbling together that fake-as-hell gchat (“I think that is a fine point, sir. As I cogitate on this question, allow me to interject a brief few words in support of the fair maiden whose plight we now consider.”), they could have asked me: straight up, what did you do when Baker & McKenzie no-offered you?
Excellent question, Lat. I let a single teardrop roll down my cheek like I was Denzel in Glory. Then I picked myself up, slapped my dog in the face and did, like, 16,000 biceps curls. I determined that I wasn’t going to let some dumb dumb law firm dictate my life’s trajectory. I was going to be a huge success, someday reaching upwards of two dozen people as a writer for the Internet’s preeminent website for law firm bonuses and women’s shoes. I was also not going to let Baker’s decision get in the way of my life’s dream to one day work at a terrible office filled with half-wit lunatics who either don’t know I’m a lawyer or don’t care. To quote Matthew Wilder, I decided that no law firm gonna break-a my stride, nobody’s gonna slow me down. Oh no. I’ve got to keep on moving!
I also considered taking a huge dump outside Baker’s offices.
Getting no-offered is a bad thing. Even though (or perhaps because) summer associate classes are small, offer rates remainhigh. As Jay Edelson of Edelson LLC writes in this interesting call for reform, End the Summer Associate Sideshow, offers of full-time employment to summer associates are “virtually guaranteed, so long as they don’t do something to truly embarrass themselves or the firm.”
So a no-offer is bad, but you can recover. Sonia Sotomayor got no-offered after summering at Paul Weiss, and her legal career turned out pretty well in the end. Her wonderful memoir is aptly titled My Beloved World (affiliate link), not “I Got No-Offered And Now I Live In A Van Down By The River.”
Let’s say you got no-offered this summer. What should you do?
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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!