* Things you can sell as a practicing attorney: your soul, your dignity, and your standards. Things you can’t sell as a practicing attorney: babies (but it sure is a great way to abort your career). [Daily Mail]
A common topic in my discussions with small-firm attorneys is whether or not to specialize. There are pros and cons to both, but one of the greatest difficulties in specializing as a small-firm lawyer is to make sure that your niche can provide enough business to serve as the sole focus of your practice. For instance, it may be possible to focus exclusively on trusts and estates matters, but it is unlikely possible to focus solely on fashion law.
There appears to be a growing area that may be worthy of a niche practice: reproductive law. Consider the statistics (provided by Andrew Vorzimer who specializes in this area and writes the blog Eggdonor): 1.5 million couples will seek treatment for fertility related issues this year and half of those will be unsuccessful with traditional treatments and likely turn to assisted reproductive technologies (e.g. in-vitro fertilization and surrogacy), which often require specialized agreements (and could lead to specialized litigation). Despite this demand for legal services relating to assisted reproductive technologies, there is a dearth of legislation in this area. Together, these seem like the building blocks for a lucrative and exciting legal specialty.
There is another reason why smart, competent, and ethical lawyers should consider this specialty. This is because there are small-firm lawyers in this field like Hilary Neiman and Theresa Erickson….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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 six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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