* If you’ve been dying to know what the partner compensation spread looks like at your firm, then we’ve got your fix. Check out the insane 23 to 1 spread over at Perkins Coie. [Am Law Daily]
* “It’s a complete structural change, and it’s not going away. The end result is fewer graduates, and fewer law schools.” With enrollment still dropping, the end seems near. [Boston Globe]
* “I predicted the collapse of legal education, but I didn’t quite predict how bad it would be.” Dean Frank Wu of UC Hastings Law is fighting his way out of a rankings slump. Good luck. [The Recorder]
* Widener is the latest law school to roll out a solo / small firm incubator. Only grads from the class of 2014 may apply. Earlier grads are ineligible because they presumably have jobs… maybe. [PennLive.com]
* You may think Chief Justice Roberts and Justice Scalia are “stuck in the past” and “disconnected from the real world,” but you may be wrong. You can read Uncertain Justice (affiliate link), by Laurence Tribe and Joshua Matz, to find out why. [New York Times]
* A judge has denied bail for the Georgia man accused of sending sext messages during his seven-hour work day while his 22-month-old son was left to die in his hot car. Ugh, this is terribly sad news. [CNN]
Of course I took an interest in Jordan Weissmann’s Slatearticles saying that now could be the best time to go to law school. He argues that because of the continuing drop in law school applicants and the supposed increase or stabilization in law school recruiting, future graduates have a good chance of getting entry-level positions in law firms or those “corporate positions of distinction.” Despite this, Weissmann warns readers that “most people should not attend law school,” and that “some lower-ranked schools will continue to deliver miserable job prospects for their students.”
But Weissmann’s articles — as well as Elie Mystal’s and Joe Patrice’s excellentresponses to them — did not adequately address one question that was important to me: How seriously do employers consider experienced attorneys for entry-level legal positions?
Click onwards to read about my personal experience applying to one of these entry-level positions, and my thoughts about the advantages and disadvantages of hiring a newbie versus a veteran….
On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”
Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.
But we wonder if there’s more to this story than meets the eye….
I didn’t know what Prezi was at the beginning of the year. I first heard about it at LegalTech New York in February. Since then, I’ve seen it all over the place and heard of lawyers using it in trial. I have since used it a couple of times, so I am going to explain the benefits and the drawbacks and how to use it effectively.
What Is Prezi?
When you start a Prezi presentation, you begin with a big blank slate. You place pictures and text boxes on your blank slate and pan and zoom into them. Instead of going from slide to slide, you pan from focal point to focal point on your big canvas. The cool part about it is the zooming. You can zoom way into something. So, say you are doing a case about blood clotting and you want to show what it looks like on a cellular level, you would do it like this:
The other day I walked into my local Starbucks. It was moderately full but there was only one other couple in line. I placed my order after the couple in front of me (tall, skinny chai, extra hot), then sat down to wait. I pulled out my phone and thumbed it to life, scrolling through emails, checking Twitter, the usual. After a bit, I realized I had been sitting there for a few minutes without hearing my order.
The couple in front of me had gotten their order and were doctoring their coffees with condiments. The barista behind the counter had a flicker of motivation as he looked down at the ready area of the Starbucks bar. He was a typical-looking Starbucks barista — mid-to-late twenties, tall, skinny, bearded, with thick-framed glasses. A general demeanor of indifference.
“TALL SKINNY CHAI EXTRA HOT.” I walked up to the bar to get my order.
“Uh, your order has been ready for a bit but, uh, they forgot to call it out. If it’s not hot enough, I guess I can make you a new one or whatever….”
I’m writing today’s column from New York City, where I’m covering Thomson Reuters Vantage 2014, a great conference focused on mid-sized and large law firms’ use of technology. There have been fascinating discussions about how larger law firms are adapting to change and are incorporating some of the latest technologies into their IT infrastructure. Not surprisingly, however, it turns out that like solo and small-firm attorneys, large and mid-sized law firms are often just as reluctant to adopt new technologies and processes despite overwhelming evidence that doing so is the best way to stay competitive.
But the good news gleaned from this conference is that some larger firms are adapting, just as many solo and small firms are. And that’s my goal with this column: to showcase how individual solo and small-firm lawyers are using new technologies in their day-to-day practices. In the process, my columns will hopefully encourage and help other lawyers to do the same.
In today’s column I’ll be featuring Jill Paperno. Jill is a long-time assistant public defender, having worked at the Monroe County Public Defender’s Office in Rochester, New York for over 27 years. She’s currently the Second Assistant Public Defender and is the author of Representing the Accused: A Practical Guide to Criminal Defense (affiliate link). In other words, Jill is a diehard criminal defense attorney and has dedicated her life to defending our constitutional rights.
I participate in at least one group discussion per month where a lawyer — employed or not — asks the collective for advice about starting a solo practice. These nonbelievers envy our independence and our ability to adapt quickly to client needs and changing trends.
We respond with the usual tried and usually true advice: Get ready for uncertain income. Don’t overspend. Don’t underspend. Find a mentor. Find another one. Practice in a unique niche you are passionate about, but also serve the needs of the community. Have a sales mentality. And did I mention network?
After the jump, I will talk about a few other things an unemployed lawyer aspiring solo practitioner should also consider — and rant about the worst reason to start a solo practice….
Are you tired of getting the same questions over and over again from prospective or existing clients? Should I choose an LLC or incorporation? Will I lose my house in bankruptcy? What is a power of attorney? How long will my divorce take? Rather than respond to these same questions over and over, why not school your clients instead?
These days, schooling clients is easy. With the rise of online training and college courses, a broader segment of the population is now familiar with online education. Plus, there are a variety of powerful free tools to create online educational programs to educate clients so that they’ll have a grasp of the basics.
No, this isn’t another Reema Bajaj story, though she might have benefitted from this law firm’s marketing strategy. There’s a fine line between selecting a catchy firm image and becoming fodder for this site’s mockery. This firm is dancing on that line.
On the other hand, you’ll never forget this lawyer’s web address…
Before my partners and I started our own firm, I worked for a small insurance defense firm. It was a statewide practice, as most insurance firms are. Often times I would have to drive hours to some small county in the state for a 20-minute hearing, then get back in the car and drive right back.
I clearly recall one day when I spent roughly eight hours round-trip in the car, to attend one of those hearings that only took a little over 30 minutes. In the litany of intricacies of practice that law school does not adequately prepare law students for, add long car drives to the list.
That being said, I don’t really mind it. I rather enjoy the time alone in the car. It’s nice to be disconnected from things and alone with your thoughts. I listened to podcasts. I watched the pine trees go past mile after mile. I sat in silence, only the hum of the road to accompany me. In the hustle of drafting documents, responding to emails, returning phone calls, and meeting with clients, a few hours alone can be a respite….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: