Today’s notable move involves Andy DeVooght, coming out of the U.S. Attorney’s in Chicago. DeVooght has an enviable résumé. Before joining the U.S. Attorney’s Office, he worked as a partner at Winston & Strawn and clerked on the U.S. Supreme Court, for the late Chief Justice Rehnquist.
Instead of returning to Biglaw, a common path for someone in DeVooght’s shoes, he’s joining a buzz-generating boutique. Which one?
If you follow the world of large law firms, then you are probably familiar with the incisive and candid commentary of Steven J. Harper. Over at his blog, The Belly of the Beast, Harper offers excellent insights into the world of Biglaw.
Harper knows so much about that world because he spent his entire legal career in it. He joined Kirkland & Ellis after graduating from Harvard Law School in 1979. He practiced litigation at the firm for about 30 years, until his retirement in 2008, at the early age of 54 (which you can afford to do when you’re an equity partner at a firm as lucrative as K&E).
In addition to blogging, Harper has written four books. I spoke last week with Harper about his latest book, The Lawyer Bubble: A Profession in Crisis (affiliate link), and about his views on the worlds of Biglaw and legal education….
If you’re a former Supreme Court clerk, the legal world is your oyster. In the words of one observer, “Supreme Court clerkships have become the Willy Wonka golden tickets of the legal profession. So many top-shelf opportunities within the law, such as tenure-track professorships and jobs in the SG’s office, [are] reserved for members of the Elect.”
If you work at a hedge fund, maybe after a stint at Goldman Sachs or a similarly elite investment bank, you’re the Wall Street version of a SCOTUS clerk — at the top of the field, but with way more money. There aren’t many Lawyerly Lairs out there that cost $60 million (the cost of hedge fund magnate Steve Cohen’s new Hamptons house).
What could lure four high-powered lawyers and hedge-fund types, including two former clerks to the all-powerful Justice Anthony Kennedy, to leave their current perches? How about the chance to earn the kind of money that would make a Supreme Court clerkship bonus look like a diner waitress’s tip?
When I graduated from law school, I decided that I would take a job at a large law firm because it would maximize my chances of going in-house. I had no idea what either job would entail, but it seemed like a sensible plan. And, even without knowing what it would be like to be a litigation associate in Biglaw, I suspected it would be bad enough that an exit strategy would be necessary.
A few years later, I switched my exit strategy and went to a small firm. I decided that I could not wait for three to five more years to get the skills required to go in-house. So, I went to a small firm to get “hands on experience” and position myself for my new exit strategy: a federal government job. Then, hiring for federal jobs froze, and the few openings were impossible to get unless you had the exact experience required and could figure out your grade level. Consequently, I am currently reformulating my exit strategy. I am contemplating running for president or becoming a certified yoga instructor.
I have yet to meet a lawyer who did not plan or fantasize about his or her exit strategy from law firm associate, be it Biglaw or small. I blame it on the nightmare that is billing hours — even if the requirement might be less at some places. The most common exit strategies are (1) in-house and (2) fitness professional.
Is it possible, however, for a small-firm associate to go in-house, or is the small-firm associate required to follow my path and find a new exit strategy?
Ed. note: This is the latest installment of Size Matters, one of Above the Law’s new columns for small-firm lawyers.
I moved from Biglaw to a small firm in 2008. I had heard the term “litigation boutique” used positively. Also, I had heard tales of Biglaw associates going on to small firms and doing great things (although I did not actually know any). But, other than that “information,” I had no idea how to go about researching and choosing a small firm. Other associates who have chosen to go small have told me similar stories. There’s very little information about the various small law firms. Indeed, there is no Vault Guide and, until recently, no big-mouthed small firm associates sharing their tales.
So, what did I do? I got a headhunter and took her sales pitch as truth.
Times are different now. Not only because you have me (i.e., your greatest resource for information on small law firms; except, of course, for Jay), but also because headhunters are not as prevalent as they used to be. This is because, obviously, there are fewer jobs and because a lot of small firms have stopped using headhunters (query whether using headhunters is ever a good idea when going small — discuss).
Why is there so little information out there about small law firms?
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.