We’ve got two painfully funny / bad / uncomfortable lawyer-produced clips today. Normally, I wouldn’t seek out clips like this to write about, but both of these were submitted to us by their creators. So, I guess, be careful what you wish for.
After the jump, check out the mid-size California firm that hopes you’ll call them, maybe, and a war crimes lawyer turned comedienne who sings a love song to Mitt Romney — while wearing a bikini, of course…
First year salary has been reduced from $160K to $145K. A number of other associates (excluding first years) were informed that their salary would be reduced by 15% or 30%. Those associates were told that they were selected to receive “adjusted” compensation based on their hours, although the actual method for determining which associate would be subject to this salary adjustment was not disclosed and remains unclear.
We now understand that many mid-level and senior associates took a 20% salary hit.
But we also understand that a 20% salary cut has also been executed on the firm’s paralegal contingent. A tipster reports:
You did not mention that paralegals were grouped with associates and also had their salaries cut by 20%.
Associates and paralegals all met individually with two partners who notified us of the pay cut and told us that if we could manage to get our billable hours up to goal before the end of the year we would get the full 20% back. And if we could get to a slightly smaller goal, they would return 10%. There were no explanations about how they arrived at these various figures and at that time we didn’t know that first years’ salaries were only being cut 10%. We were told this measure was needed to avoid further layoffs although there were also a number of people let go that day.
We haven’t really heard about firms cutting salaries on paralegals. Paralegals have been fired for sure. But there just hasn’t seemed to be a lot of economic upside to shaving a few dollars on salaries of people who already don’t make very much money.
More news from Allen Matkins after the jump.
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.