Just the other day, we told you that things were looking pretty good for 2Ls who want to be part of Schulte Roth & Zabel’s 2010 summer program.
That positive report is of no consolation to participants in Schulte’s 2009 summer program. It looks like those kids had the bad fortune of going to law school a year too early. Their summer program was only eight weeks long, and yesterday Schulte finally got around to making offers. A tipster reports:
We’re all talking. Seems like Schulte was about 2/3rds [offer rate] or so … We had a listserv of everyone. Seems like a ton of no offers. They did no offers first.
The two-thirds of Schulte summers who received offers were not given a start date. But the benefit of having a listserv is that they are still pretty excited to have offers in comparison to their colleagues that were rejected by the firm.
Schulte declined to comment for this story. But we understand that it is full steam ahead for summer 2010. Earlier: Schulte Roth Feeling Good About 2011
* Can someone please explain to me why coffee needs to be roughly the temperature of fire when it is handed to me? I want something to drink, not something I can use to sanitize a bathroom. [Torts Prof Blog]
* Marin asked me if the good days of Biglaw were gone forever. My response can be summed up in one word: “outsourcing.” [Technolawyer]
* How should you handle a rude recruiter? I don’t know, sweep the leg? [Let's Talk Turkey]
* Do you ever lie in bed wondering if Biglaw would take you back? [Ivy League Insecurities]
* Tips on snagging a clerkship from NYU Law. [Blackbook Legal]
* Idle hands are the Devil’s playthings. [Litination]
* You might remember that I thought former law student of the day, Janero Marchand, got a raw deal from some ATL commenters. Still, it’s an important lesson every buppie should know. [True/Slant]
American Lawyer has released its annual summer associate survey. Not surprisingly, summer associates were generally terrified:
“The economic times suck,” one clerk at New York’s Skadden, Arps, Meagher, Slate & Flom wrote bluntly in response to our most recent summer associates survey. “The firm can’t change that. But the times have made for a difficult summer.” A Bryan Cave intern put it this way: “It is a scary time to be a law student.”
One indication of just how scary: The number of summer clerks who said they expected to receive full-time job offers was down sharply, according to our survey, while anecdotal evidence culled from respondents’ answers to open-ended questions suggested that stress and anxiety levels were up.
I had thought that many summers were stuck in the anger stage of grief. But this report suggests that many summers have actually jumped all the way ahead to stage four: depression. I guess that is progress?
As we suspected, 2009 summers took more of an “every man for himself” approach to this year’s summer experience. Details after the jump.
Are billing disputes between law firms and their clients on the rise in the recession? We feel like we’ve seen a lot of them lately.
The most recent disagreement involves Bingham McCutchen. A Boston-area investment company, Tuckerbrook Alternative Investments, has sued Bingham, claiming it was overcharged for legal services provided in connection with preparing an SEC registration statement.
The case isn’t that exciting — it seems like a garden-variety fee dispute — but this aspect struck us as interesting. From Massachusetts Lawyers Weekly (subscription):
The Sept. 16 complaint accuses Bingham of stacking the case with young associates who had “inadequate” experience. “The billing statements reflect that these junior lawyers in essence were enjoying the benefits of on-the-job-training at Tuckerbrook’s expense,” the complaint states.
So the allegation is that young lawyers were being trained on the client’s dime. But is that an indictment of Bingham McCutchen, or of the billable hour? Grumpy in-house lawyers regularly complain about paying for the training of Biglaw’s junior associates. This is why some corporate counsel explicitly refuse to pay for first- and second-year associates (and provide for that in their retainer agreements; presumably Tuckerbrook could have done that here).
More news about Bingham, including its summer associate offer rate and its real estate needs in New York, after the jump.
* David Lat, Tony Mauro, and Matt Welch discuss how the new media covers the law. [Legal Blog Watch]
* The 25 “most dangerous” colleges in America. Yes, of course Yale is on this list! [Tax Prof Blog]
* Muammar Gaddafi has some thoughts on international law. [Miss Trials]
* Ladies, “flaunting your curves” does get you noticed. I’m not sure if that is a good thing. [Adjunct Law Prof Blog]
* Complicated laws v. Simple laws. [The Volokh Conspiracy]
* A Red Sox fan was allowed to temporarily leave jail to see a Red Sox game. This bears repeating: post the second, 2007 championship, there is no difference between Sox fans and Yankee fans. None. You’ve become what you beheld and your children will never know the joy of rooting for an underdog. [Yahoo]
Tuesday and Wednesday, offers went out to people who want to participate in Skadden’s summer program. We haven’t heard any solid numbers yet, but so far it appears that prospective summers are satisfied with the results.
No news is good news regarding Skadden. In August, Skadden announced that it would be cutting its summer hiring in half. This morning, Bloomberg News reminded everybody that Skadden will be trying to keep its summer numbers down:
The stark reality of the legal marketplace was illustrated by yesterday’s 2010 job offers by Skadden, Arps, Slate, Meagher & Flom LLP, the highest-grossing U.S. law firm. It projected a 50 percent cut in summer hiring, said Howard Ellin, the recruiting partner for Skadden. The firm hired 225 students this summer and plans to hire less than half that for summer 2010.
But just because Skadden plans to reduce hiring does not mean the firm intends to reduce its offer rate. If the firm planned this right — and based on the NALP forms it looks like it has — Skadden could have simply invited fewer people to be part of its 2010 summer program. Skadden could still give a robust offer rate to the summers that did commit to the firm.
Hopefully, everything will work out for prospective Skadden summers.
After the jump, Bloomberg has some interesting data on how this year’s fall recruiting is going at a couple of top law schools.
On Friday, we mentioned that Harvard Law School took on Sullivan & Cromwell over how long to firm would hold open offers for summer associates. It was a good show by HLS.
But the question of what 2Ls should do if they get multiple summer associate offers remains open. Earlier, we suggested that instead of just holding open an offer while they mull it over, we suggested that 2Ls affirmatively accept all of the offers they receive. Later — once the 2Ls have had time to make a considered and wise decision based on relevant financial information about the law firms — 2Ls can call up their firms and revoke the agreement to summer with a particular firm. Hey what is good for the goose is good for the gander, right?
Apparently, bloggers out at U.C. Berkeley disagree. From the Nuts & Boalts blog:
Harvard’s Dean impressed me, and ATL’s advice disgusts me. Boalties: don’t hoard offers. If you have more than one opportunity at your door, it’s time to start making decisions, because the earlier you decline an offer the more likely it will redound to one of your peers.
Whoa. Above the Law-2008 just called, and they want their open thread back.
We’re heading into the weekend and the autumnal equinox is not far off. It got us to thinking, who is still waiting on news about their offers from the summer? We know that some firms have already indicated that they would be making late decisions, but it occurred to us that some summers are honestly still in the dark.
Is there anybody out there in that situation? I feel we keep hearing about one firm in particular that hasn’t made offers yet, but gosh I just can’t remember which one. I think the first name starts with an M, and the last name rhymes with “frown.”
Are there other firms that aren’t even telling 2009 summers when a decision will be made?
Vent in the comments. We’re sure your firms haven’t completely forgotten about you. But you know what they say, the squeaky wheel gets the grease. Earlier: Prior ATL coverage of no offers
We have reported extensively on the difficult offer situation for people who summered at Philadelphia area firms in 2009. Morgan Lewis & Bockius had an offer rate below 28%. Pepper Hamilton offered about 63% of its summers. Dechert told half of its summers that the firm would wait until January to make a decision offers, yet continues to interview 3Ls this recruiting season.
Let’s close the loop on the Philadelphia market with two other well known firms: Drinker Biddle and Cozen O’Connor. The Legal Intelligencer reports that Drinker Biddle did slightly better than its area competition:
The firm gave offers to about 68 percent, or 25, of the 37 2L summer associates it had firmwide in 2009. The offer rate was about the same in Philadelphia, where 13 of the 19 2Ls received offers, the firm confirmed.
After the jump, Drinker Biddle chairman, Alfy Putnam, explains the firm’s decision.
Summer associates with Alston & Bird in 2009 are starting to get a little anxious. We know that so far, none of you have received offers. But that is going to change. Alston & Bird will make offers to some people. The firm is just still trying to figure out how many offers to extend. This email was sent from Alston & Bird to its summers on Friday:
Hi everyone -
Just wanted to give you a quick update regarding the timing of offers. You may recall that we’re coordinating our decisions as a Firm this year rather than by office (though offers will be office specific). Unfortunately, not all of our offices are ready with their decisions and as a result, we won’t be able to communicate our decisions this week. We apologize for the delay, and assure you that we will be in touch as soon as possible. Please don’t hesitate to give me a call if you need anything. Many thanks.
One tipster doesn’t think Alston is wondering what its summers need:
She knows what we need…f****** job offers. Hate to say it, but this is definitely bringing the morale of the summer class down. Also seems really sketchy–there are rumors they were interviewing 3L’s. Wonder if that is what the delay is about?
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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