Over the past few months, it’s seemed like the legal economy was picking back up. According to the Bureau of Labor Statistics, May saw job gains in the legal sector.
June was not so kind. Am Law Daily reports that the legal economy isn’t out of the toilet just yet:
After what initially seemed like a promising month in May, the legal sector saw its employment numbers drop by 3,900 in June, according to the latest economic report released Friday by the Bureau of Labor Statistics.
Thanks a lot, Bureau of Labor Statistics. You just ruined the iced coffee I was enjoying here at the Breaking Media cooling center…
The recession has forced Biglaw firms to lay off some of the best and the brightest in the legal field. Many of these Biglaw refugees have wound up seeking out contract work (despite the long-term risks), and that means the pool of contract attorneys is mighty pretty right now. In-house legal departments have noticed and are taking advantage, reports the Legal Intelligencer (in an article we mentioned in the Holiday Docket yesterday).
In an ACC survey about the effects of the recession that we wrote about last week, 51% of in-house folks reported an increased workload last year. And staffing firms say that general counsel are looking to them to help out. Gina Passarella writes:
Project attorneys are a more viable answer to the budget problem in part because there are so many skilled lawyers out of work due to layoffs at AmLaw 200 firms and the consolidation of legal departments prior to the economic downturn, which led to cuts in those departments as well, [staffing firm owner James] LaRosa said.
“The pool of contract attorneys right now is exceptional,” he said.
A typical candidate right now would have experience at either an AmLaw 200 firm or a specialized boutique, and oftentimes will have law department experience as well.
The pool may be exceptional, but the pay is not. Will contract attorneys be as appealing once the economy bounces back and Harvard grads can get big-paying, Biglaw jobs again?
In today’s Career Center post, we’ve decided to take a short break from the updates on the results of our Associate Satisfaction Survey to share with you the latest career development article featured in the Associate Resources section of the Career Center, powered by Lateral Link. This article, along with the others in this section, provides practical advice on advancing your career.
The last several weeks have seen a surge of new lateral associate openings at law firms across the country. Even with the surge in openings, however, competition remains fierce for associate positions. In fact, employers have reported receiving upwards of 100 résumés for a single position. That means that it is more important than ever for your résumé to stand out from the competition. Fair or not, often the best résumés – and not the best candidates – generate interviews.
How can you develop a convincing legal résumé? Here are five tips….
In Morning Docket we mentioned that the new public law school at UMass is off to a flying start. Let’s check back in with those students in three years when they are in massive debt and have no job prospects.
We’ve slammed UMass Law quite a bit. But there are other university systems that are looking to fleece those interested in a legal education. Last year, we reported that the University of North Texas was going forward with its plans to start a public law school.
Over the weekend, a tipster sent us the pitch North Texas is using on Texans who don’t know any better. Here’s the school’s headline:
Opening a public law school at the right time in the right place
[Last] Thursday, Google [began] covering a cost that gay and lesbian employees must pay when their partners receive domestic partner health benefits, largely to compensate them for an extra tax that heterosexual married couples do not pay. The increase will be retroactive to the beginning of the year.
“It’s a fairly cutting edge thing to do,” said Todd A. Solomon, a partner in the employee benefits department of McDermott Will & Emery, a law firm in Chicago, and author of “Domestic Partner Benefits: An Employer’s Guide.”
Why do gay and lesbian employees pay more in taxes to begin with?
Earlier this week, we solicited funny captions for this photo (a great image for the July 4th weekend, given all the American flags):
You responded with around 70 comments. This was a smaller-than-usual number of nominees, but they were of high quality. There were about 25 or so that we saw as worthy contenders. Alas, to make the contest workable, we winnowed the entries down to a shortlist of eight.
Check them out and vote — warning: some crude / juvenile humor ahead (if you can’t handle it, stop reading now) — after the jump.
It has been a while since we last wrote about Gerald Ung, the Temple Law student who was arrested in January for shooting Edward “Eddie” DiDonato Jr. (a former college lacrosse star who also has a legal connection — his father is a partner at Fox Rothschild, the prominent Philadelphia firm). Today we have two updates.
First, a reader alerted us to some updates in the criminal case against Ung, who faces five charges, including attempted murder. According to the docket, it appears that a scheduling took place last week, on June 24, and a trial date was set.
The trial date: February 7, 2011. Wondered our reader: “Huh? Do they usually wait that long for an attempted murder trial?”
We have some thoughts on this, plus an update on Eddie DiDonato….
There’s a simple rule in Wisconsin regarding judicial elections. You can’t make a campaign ad that knowingly misrepresents your opponent. While you’d imagine that reasonable people might disagree about what constitutes misrepresentation, one expects that judges wouldn’t really get anywhere close to the line.
But not so in the election between Justice Michael Gableman and Louis Butler. Gabelman made a controversial ad and won the election, and then all hell broke loose. People argued he violated judicial codes of conduct, it went to the State Supreme Court, Gabelman had to recuse himself, and then the court split 3 -3 and issued two different decisions. So, you know, all the trappings of anarchy.
Of course race is involved. Because people don’t generally lose their minds and start acting like idiots in this country unless race is involved somehow…
A little over a year ago, law firms came up with a unique plan to deal with the problem of too many associates and not enough work to go around: the deferral. It did not apply just to incoming associates; it was also offered up to those already at the firm who were open to a year-long sabbatical.
We know that many of you decided (or had to) seek out work in the public sector. But when the mainstream media picked up on the fact that law firms were paying their employees to go away from a year, they focused on those doing fun things, like the Skadden Sidebar associate planning a trip around the world. How many other deferred dreamers have taken the opportunity to do something offbeat?
Or something about beats. Rap Genius, a website that analyzes rap lyrics (called ingenious by Nick Antosca of the Huffington Post for its breakdown of Empire State of Mind), is the creation of a DL Pursuer. The site is now nine months old, and Mahbod Moghadam (Stanford Law ’08) is hoping it’s his escape out of law. Which would be a good thing, since Dewey & LeBeouf is having a hard time reabsorbing its DL Pursuits associates.
Moghadam is quite a character: he sent us a bizarre photo involving a carrot, he’s the ex-boyfriend of Victoria of Downtown Girls, and he convinced two Yale friends to quit their jobs (at Google and D. E. Shaw) to work with him on Rap Genius. What kind of Jedi mind tricks is this guy using?
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: