Let’s give a round of applause to these great firms.
Earlier this week, the American Lawyer released the results of its annual survey of Biglaw midlevel associates (third-, fourth-, and fifth-year associates at large law firms). We’ll start with the good news: midlevels seem to be quite happy. The average composite score for satisfaction hit 4.08 — the highest in a decade, and higher even than last year’s healthy figure.
But just like last year, which revealed a significant gender gap in terms of job satisfaction, this year’s rosy news comes with caveats. The latest survey shows, for example, that women, African-American, and LGBT lawyers are less satisfied than their non-minority counterparts in terms of measures like training, fairness of evaluations, and partnership prospects.
Now let’s move on to the juicy stuff: the firms with the happiest — and unhappiest — associates. Plus a new ranking from Am Law, focusing on which law schools best prepared their students for Biglaw life….
The idea of “happiness” is the basis of an ever-growing body of research. In fact, while economists traditionally measure a nation’s prosperity by looking at GDP, there is a growing movement for them to consider a different measure, something akin to “Gross National Happiness.” One of the best-known efforts to move away from a reliance on GDP as a measure of national welfare is the UN’s Human Development Index, which amalgamates three metrics: lifespan, educational attainment, and adjusted real income. Then there are dozens of much more subjective surveys of national happiness, many of which find Costa Rica to be the happiest country in the world. Others say it’s Norway. (Then there is this preposterous “Happy Planet Index,” which ranks the U.S. at number 113, between Madagascar and Nigeria.)
Of course happiness research is performed in more narrowly targeted ways, such as examining specific professions. Earlier this year, Forbes reported on a “Career Bliss” survey of 65,000 employees that ranked “law firm associate” as the unhappiest job in America. (See Joe’s take on that survey here.)
The results of the annual American Lawyer midlevel associate survey are out, and it looks like people have been taking happy pills. We thought things were going well last year, but this time around, it’s all lollipops and double rainbows for third-, fourth-, and fifth-year associates. According to Am Law, these happy campers gave their firms the highest composite scores the publication had seen in almost 10 years.
These associates have good reason to be happy. They’ve secured and maintained jobs at elite firms while entry-level hiring has been swirling down the drain. Spring bonuses have come and gone, but they’ve managed to stick it out. They’ve seen the rise and fall of Biglaw empires. They’ve seen the worst of the profession’s worst, and still, they’ve survived it all. They have the right to be happy.
Of course, not everyone is as thrilled. For the first time, American Lawyer measured gender differences in question responses, and women are markedly less satisfied with their jobs than their male colleagues. Considering how difficult is is to gain entry to the Biglaw boys’ club, who could blame them?
Enough idle chatter, let’s delve into the details of the survey and discuss the results…
* Is Justice Ginsburg, our favorite judicial diva, foiling her own jurisprudential legacy by refusing to retire from the Supreme Court before another president takes office? [Daily Beast]
* Year-over-year, there’s been a double-digit drop in demand for legal services, so now is a great time to start speculating about which firm will be the next to conduct layoffs. [Am Law Daily]
* Don’t despair, the results of the Am Law Midlevel Survey are out, and associates are more satisfied than ever — except for the women. They’re “leaning out,” so to speak. [Am Law Daily]
* New York City (d/b/a Mayor Michael Bloomberg) wants Judge Shira Scheindlin to stay her stop-and-frisk rulings pending appeal, because racial profiling is an effective crime fighting tool. [New York Law Journal]
* If you want to know why law school is three years long instead of two, it’s because back in the day, the T14s of the world were convinced it’d “stop the proles from sullying the image of the bar.” [The Economist]
* In an effort to keep law school deans’ listserv drama and email scandals to a minimum, the American Bar Association just doled out some rules to keep their ivory tower talk in check. [WSJ Law Blog (sub. req.)]
* “[I]f I die because of this, my life will have been worthwhile.” The HSBC whistleblower would face death to talk about the big bank’s money laundering — and to see the lovely Marni Halasa. [Huffington Post]
The annual Am Law midlevel associate survey came out yesterday, and for the first time in years, satisfaction among third-, fourth-, and fifth-year associates seems to be up across the board. According to Am Law, this year’s average score across all firms was the highest it’s been since at least 2004.
But, as with all things in Biglaw, their happiness is relative. After all, these are the people who survived the worst of the layoffs, and the lucky few who managed to get a foot in the door during a time of reduced new associate hiring. Above all, these are the people who must be thanking their lucky stars that they weren’t midlevels at Dewey & LeBoeuf. They may have been working extremely hard on cases that were understaffed, but at least they were working.
Last year, my colleague Elie Mystal noted that the midlevels who were whining about their unhappiness were “missing the big picture” — that they’d be making serious bank for the rest of their lives if they remained in Biglaw. Given the results of this year’s survey, perhaps these midlevels have come to that very realization….
* Apparently spring bonuses don’t make the Biglaw world go ’round after all. The annual Am Law midlevel survey is out, and satisfaction levels are up across the board. Maybe they’re happy to still be employed. [American Lawyer]
* When Dewey get to retire this used up, old D&L pun? Probably around the same time as that Howrey joke — never. Oh, and the firm asked a bankruptcy judge to approve its $70M partner “clawback” plan. [WSJ Law Blog]
* Oh mon dieu, it’s time for some law firm merger mania! DLA Piper, the second-largest Biglaw behemoth, proposed to French firm Frieh Bouhenic, and of course, the corporate boutique said “oui.” [Legal Week]
* Judicial efficiency: Judge Robert Hinkle says he’ll block Florida’s regulations on voter registration groups just as soon as an appeals court boots the state’s arguments. [Bloomberg]
* Judge Kenneth Lester Jr. will step down as judge in the George Zimmerman case after using “disparaging” language in a bail order. Zimmerman’s probably hoping that the third judge will be the charm for him. [CNN]
The Am Law Midlevel associate survey came out yesterday. Satisfaction among 3rd, 4th, and 5th year Biglaw associates is down for the second year in a row.
That’s a trend people should get used to. The midlevel survey should be renamed the Survivor’s Remorse Report for the next few years. The thing will be a snapshot of the few who made it through the great winnowing of 2009, or the lucky who got into Biglaw as the industry massively scaled back new associate hiring. As demand for legal services picks up, all we’re going to be looking at here are people working extremely hard on inadequately staffed cases.
My favorite quote from the Am Law piece is from a DLA Piper associate (the associate will be played by Miranda from the Tempest in my mind) who said: “Firms got too lean [after the recession] and consequently realized that associates will work more and more if asked. Quality of life has therefore decreased.”
Oh, brave new world.
These midlevels who are whining right now are slightly missing the big picture. They might have to work long hours, but they are going to make serious bank for the rest of their legal lives….
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: firstname.lastname@example.org.
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.