The news of the K&L Gates / Middletons merger, which looks a lot like the acquisition of Middletons by K&L Gates, got us thinking about the value of law firms. It’s quite apropos given that Middletons is based in Australia, home of the world’s first publicly traded law firm.
As we mentioned in yesterday’s Morning Docket, the American Lawyer recently set out to determine the world’s most valuable law firms. How did Am Law go about doing this, and which leading law firms sit atop their rankings?
Ed. note: This is the first in a new series, “Across the Desk,” from Bruce MacEwen and Janet Stanton of Adam Smith Esq. and JDMatch. “Across the Desk” will take a thoughtful look at recruiting, career paths, professional development, human capital and related issues. Some of these pieces will have previously appeared, in slightly different form, on AdamSmithEsq.com.
As noted in the American Lawyer recently, the lateral recruiting boom of recent years continues unabated. As the Am Law article points out, “At the same time [as they’re focused on hiring lateral partners], firms appear to be homing in on their poor performers. Nine out of 10 survey respondents said their firm has ‘unprofitable’ partners, and seven out of 10 said their firms have partners at risk of being deequitized or ‘put on performance plans.’ As one survey respondent put it: ‘There are too many partners without sufficient billable work.’”
Now, wouldn’t you think it would make sense — if firms are worried about underperformers — to pay some attention to associates as well as partners? After all, some of those associates should, speaking theoretically at least, be your future partners.
Yet there’s unrebutted evidence that firms look at the wrong criteria when hiring associates….
If you pour this into a cup of coffee, it doesn’t taste as bad.
* Dear New York City, you can take my caffeine when you want to become “the city that sleeps sometimes and charges rents that can be earned while working only eight hours a day.” Not a moment before. [Reason]
* They want to put Lenny Dykstra in jail, but the Wilpons get to run around free. [Dealbreaker]
* Fracking might never have developed without our unique “subsurface” property rights. In a different life, understanding this stuff is why I thought it’d be good to go to law school. Studying law > Practicing law > Paying for your legal studies. [Volokh Conspiracy]
* Okay, hear me out. How about every owner who won’t make their building wheelchair accessible for “aesthetic” reasons has to contribute every year to help fund research in the design of a wheelchair that can also climbs steps. Then they have to contribute to the fund that will get these new “chairsteppers” out to all the people who need them. Think about it, disabled people would get a better product, and ramps would be a thing of the past. Don’t tell me the tech is beyond us, if we can make amphibious attack vehicles/tour buses, we can make a wheelchair that climbs steps. [Simple Justice]
* Do it yourself divorces now coming to Texas for indigent clients with no children. So, to recap, when gay people want to get married in Texas, it’s an affront to God and traditional America. But when childless heterosexuals want to get divorced, it’s just a simple legal matter that shouldn’t require a lawyer. [Tex Parte Blog]
* Thanks to Cision Blog for including us in their rankings. [Cision Blog]
As we near the end of 2012, we can definitely declare this year to be a momentous one for LGBT rights and equality. Two federal appeals courts struck down the Defense of Marriage Act (and the Supreme Court will soon consider whether to grant review in the DOMA litigation, which it almost certainly will). On Election Day, voters across the country came out in favor of marriage equality. The good people of Wisconsin elected Tammy Baldwin to the U.S. Senate, making her our nation’s first openly gay senator.
Despite these advances, being an LGBT attorney presents unique challenges. When it comes to welcoming gay and lesbian lawyers, not all firms are created equal.
The good news, though, is that Biglaw made a big showing in the Human Rights Campaign’s latest Corporate Equality Index, which scores large U.S. employers in terms of how LGBT-friendly they are in their policies and practices. Which firms are letting their rainbow flags fly?
In light of Ms. X’s epic departure memo highlighting the chaos involved in juggling parenting and Biglaw hours, many women in similar situations have been questioning their own work/life balance. Can women still have it all? And if they can’t, can they at least have a little bit of it? Is that really so much to ask for?
Luckily, and just in the nick of time, Working Mother magazine partnered with Flex-Time Lawyers to release its annual list of the 50 Best Law Firms for Women. When compiling this list, both organizations strive to include firms that make the legal profession more “family friendly” by offering both flexible hours and reduced schedules, while at the same time ensuring that a respectable percentage of women attain equity partnership.
So which firms made the cut? Interestingly, only two firms from Vault’s top ten list of the most prestigious firms in the country made this year’s list. Let’s find out which ones….
We’re already quite confident that we’ll move up in the rankings again. We think we’ll be solidly in the top 25 and certainly in to the top seven or eight of all publics. But moving downtown isn’t about rankings. It’s about the mission of this law school.
(We mentioned previously that this proposed move would potentially come at a cost to students in the form of higher tuition, but Dean Sylvester now claims he’s “very hopeful” that there won’t be a tuition hike.)
I’m looking at the National Jurist rankings of “most diverse law schools” and, I gotta tell you, I can’t really see why anybody would or should care about them. Don’t get me wrong, I like diversity, I think it’s critically important to a good educational environment.
But I guess I find “diversity” to be a kind of binary issue: either you have a diverse campus, or you don’t. And we can argue about what makes a place diverse, what gets you over that intangible line. But being the “most diverse” is kind of like being the “most wet” person at the beach. I’m sure that distinction goes to somebody, but the key distinction is separating the wet from the dry.
I dunno, maybe I’d be more interested if any of these “most diverse” student bodies had better than a “snowball’s chance in hell” at getting a job….
If there’s one thing that lawyers love more than arguing, it’s law school rankings. Whether you’re a prospective law student, a current law student, or a law school alumnus, you’re likely obsessed with the U.S. News law school rankings, the most well-known of all national law school rankings.
But come on, let’s be real with ourselves: members of the legal profession are unhealthily obsessed with rankings in general. From the rankings that seem to defy logic and common sense to the rankings that seem nonsensical at best, if they’re out there, we know that our loyal readers are going to salivate over them.
One major criticism of the U.S. News rankings of late is that prospective law students still place a far greater weight on these rankings than any other metric — which is quite foolish. That’s why we were excited to see that Law School Transparency recently released an alternative to the U.S. News law school rankings, based on factors that ought to be important to would-be law students: cost and employment outcomes.
Let’s check out the LST rankings alternative, and see what they’ve got to offer….
Hey, don’t blame us. We didn’t make this list of the worst law schools in the country.
In the Above the Law Career Center, we just give law schools letter grades, based on user surveys completed by ATL readers. But the Daily Caller has compiled a list of the ten worst ABA-accredited law schools. Mwahaha.
One really strong point about this list is that it’s more outcome-oriented than other rankings. It’s not looking at LSAT scores and GPAs; it’s looking at bar passage rates, cost, and employment data.
So, send your angry emails to the Daily Caller, or your own administrators, if you are unlucky enough to be going to one of these schools…
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.
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.