Title: Attorney In Charge Of Firmwide Private Equity Knowledge Management
Description: This position is a combination business and legal position at a top international law firm, with no billable hours and no client development expectations. The position is full-time, affording the attorney holding the position the ability to remain deeply involved in private equity law with a more regular and predictable schedule than most private equity attorneys experience.
The attorney would have responsibilities in a number of areas related to the firm’s highly regarded private equity practice — precedent, training, publications and knowledge development, among other things. This firm offers a highly competitive salary and bonus eligibility, which is expected to be comparable to the salary and bonus eligibility of an attorney at a similar level of experience. This position is ideal for a private equity attorney seeking to scale back their practice and increase their role in business development, marketing and management.
If you look up the term “private equity” in Black’s Law Dictionary, the entry reads: “Lucky bastards who make three times as much as you do, even though you graduated from college at the same time.”
But perhaps lawyers should think warm-and-fuzzy thoughts, as opposed to envious and resentful ones, about private equity types. Today’s DealBook has an interesting item about how private equity deals are keeping law firms busy — including a number of shops outside the private equity “Holy Trinity” of Simpson Thacher, Cleary Gottlieb, and Ropes & Gray.
The DealBook item is based on an article in the current issue of the American Lawyer, which contains this tidbit about lateral moves from Simpson:
An unintended consequence of our level of market share in private equity is that as private equity firms have grown, they’ve all developed in-house legal staffs, starting from zero, five years ago,” says Simpson partner Alan Klein. “They’re trying to populate those staffs with our associates.”
Seven lawyers left Simpson for private equity shops last year, according to Corporate Counsel, a sibling publication of The American Lawyer. Partly to stem defections, Simpson raised associate salaries in January, prompting a raise-a-thon among its competitors.
“I don’t understand what causes a firm be the first to increase the salary of a brand-new lawyer from an already eye-popping $145,000 to $160,000. There is no competitive advantage in doing so. Other firms will surely follow suit, and the firm that led the market will quickly be indistinguishable from the rest of the pack.”
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: email@example.com.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
Non-attorneys would think the stress comes from preparing for a big trial, deposing a hostile witness, or crafting the perfect contract for a picky client.
But that’s nothing compared to the constant, nagging, real-life kind, the kind you get from the day-to-day grind of being a law-abiding attorney.
Connecticut plaintiffs-side boutique litigation firm (12 lawyers) seeks full-time associate with 2-4 years litigation experience, top tier undergraduate and law school education. Journal or clerkship experience a plus; highest ethical standards and strong work ethic required. Familiarity with Connecticut state court legal practice is preferred, but not required.
The firm handles sophisticated, high-end cases for plaintiffs, including individuals and businesses with significant claims in a wide array of matters. Our cases often have important public policy implications, and are litigated in state and federal courts throughout Connecticut. Representative areas of practice include medical malpractice, catastrophic personal injury, business torts, deceptive trade practices and other complex commercial litigation, and products liability.
Additional information can be located on our website, at www.sgtlaw.com.