Biglaw

With this year more than halfway done, let’s look in the rear-view mirror and survey managing partners’ confidence in the legal industry during the second quarter of 2014. Wall Street investors seem generally optimistic, at least based on the state of the stock market (despite today’s turbulence). Are law firm leaders similarly hopeful?

Survey says — well, nothing terribly exciting, but let’s have a look anyway….

double red triangle arrows Continue reading “Managing Partners Take Survey; What Happens Next… Won’t Amaze You”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

If you stood outside the AT&T Center on June 15th at 9:10 p.m. local time, you would have witnessed a steady stream of crestfallen Miami Heat fans bemoaning the performance of anyone other than Lebron James. Ask any of those fans if they thought Chris Bosh was worth a max contract in the off-season and they most likely would have answered “No!” with feverish enthusiasm.

Fast forward to the off-season, teams have now expressed interest in signing Bosh to a max-contract sheet. As it stands on Thursday, July 8, the Rockets are willing to pay him $22 million a year.

So what does this mean for you? It means that just because your law firm tells you that you’re worth a certain amount of dollars does not mean you can’t secure more greenbacks. Salary negotiations are tricky, and it is helpful to get in touch with a recruiter before you attempt to renegotiate with your current firm. Before you start maneuvering, here are five pointers to consider before strategizing…

double red triangle arrows Continue reading “5 Ways To Increase Your Biglaw Salary”

I don’t want to minimize my guilt, as a lot of people here do. But [I] didn’t need a sentence that matches what people get for killing people or for raping people.

Matthew Kluger, formerly of Wilson Sonsini, commenting on the harshness of his 12-year sentence for insider trading, the longest sentence “ever meted out” in such a case. Kluger currently resides at “Club Fed.”

Bruce Stachenfeld

I guess at heart I am a competitor. I want my law firm to be the absolute top law firm in the world – at least in our niche of being The Pure Play in Real Estate Law.

I would like us to be loved by clients — loved by lawyers — incredibly profitable — the greatest law firm that ever hit the legal world. And to do this I need to crush my competition — right?

Or maybe not right. Let’s think about this a bit and see what happens….

double red triangle arrows Continue reading “Reinventing The Law Business: On Competition”

Earlier this week, we showed you a home movie taken inside Slaughter & May’s offices in 1981. What we learned was that practicing law at the highest levels in the early 80s involved no computers, a lot of switchboard operators, and casually telling women in the office that they had good backsides.

The natural question after watching the whole video was, “Where are they now?” Whatever happened to the young associates showing off their window views and pretending the British tax laws are interesting?

We don’t have answers for every face recorded all those years ago, but we do have updates on the current whereabouts of a few of them.

But most importantly, we can tell you whether the guy with the killer porn stache guy is still rocking it today!

double red triangle arrows Continue reading “The 1981 Slaughter & May Video: Where Are They Now?”

Last month, when we covered BuckleySandler’s midyear bonuses, we included a shout-out to Cahill Gordon. Cahill has paid out generous summer bonuses to its associates dating back to 2010, and we wondered whether the firm would continue the streak.

The answer: yes. Cahill just announced its latest summer bonuses. The timing is good, since rising 2Ls will soon be picking which firms to interview with during on-campus recruiting. (Note Cahill Gordon’s nice rise in the latest Vault 100 rankings, which are widely consulted by law students during the OCI process.)

How big are the Cahill midyear bonuses this time around?

double red triangle arrows Continue reading “Associate Bonus Watch: Summer Bonuses At Cahill Gordon Once Again”

This year to date has not brought much happy news for Dickstein Shapiro. In April, we covered associate and staff reductions at the firm. In May, the Am Law 200 rankings revealed a 20 percent drop in revenue at Dickstein. In June, the firm fell out of the Vault 100.

In 2013, Dickstein Shapiro experienced the most partner departures of any Am Law 200 firm. And this week brings word of additional partner defections.

Who are the lawyers in question, where are they going, and how big a deal is their departure?

double red triangle arrows Continue reading “Musical Chairs: More Partner Defections Hit Dickstein Shapiro”

See the resemblance here?

* Utah is appealing its gay marriage case directly to the Supreme Court, presumably because the state’s attorney general doesn’t even want to bother with an en banc hearing before the Tenth Circuit. This should be good. [Salt Lake Tribune]

* Perkins Coie recently appointed its first ever Washington, D.C.-based managing partner in its 102-year history. Congrats to John Devaney, who will lead a “true national firm” beginning in January 2015. [Capital Business / Washington Post]

* When your career goes awry in Biglaw through no one’s fault but your own, you can end up living your life in shame or in jail. We’re going venture a guess and say the former is nicer than the latter. [Am Law Daily]

* How can law school graduates obtain law work experience? Simple. Get on your knees and learn how to please. Just kidding. Take some advice from this “poorly written” article instead. [CollegeRecruiter.com]

* Everything about Lacey Jonas from Grand Theft Auto V is so Lindsay Lohan-esque that she should totally win her lawsuit. Just take it from someone who’s “no legal expert, but know[s] [her] tabloid stars.” [TIME]

* Need a break from bar exam studying? Searching for something to do as a summer associate? Are you an attorney in need of fun? Come to tonight’s trivia event! All are welcome, sign up here. [Above the Law]

Ed. note: Please welcome Steve Dykstra, our newest columnist, who will be covering the Canadian legal market.

I am a Canadian-trained lawyer and legal recruiter. I recruit throughout North America so I really get to study the legal systems on both sides of the border. I thought it would be fun and interesting to highlight some of the differences between the American and Canadian systems — hence the column’s title, “The View From Up North”.

As this is my first column, I want to provide a bit of an overview. In coming weeks, I’ll focus more narrowly on specific topics.

Sound good?

double red triangle arrows Continue reading “Greetings From The Great White North”

* Alan Jacobs, Dewey’s bankruptcy trustee, says his clawback suit shouldn’t be stayed during the defendants’ criminal cases — after all, he doesn’t want their assets to dry up while they “scramble to defend themselves.” [New York Law Journal]

* Rengan Rajaratnam, Raj Rajaratnam’s little brother, was acquitted in his insider trading conspiracy case. It’s the first defeat in Preet Bharara’s financial crackdown against hedge funds. Tough break, dude. [DealBook / New York Times]

* Sore loser? Andrew J. Weinstock, the public defender who got into a fight with Judge John “I’ll Just Beat Your Ass” Murphy, resigned from his position in protest of the judge’s return to the bench. [WSJ Law Blog]

* There are many things nontraditional applicants should ask before going to law school, including, but not limited to, whether they’ll ever be able to find employment after graduation. [U.S. News & World Report]

* Oscar Pistorius’s attorney closed his defense of his client in the ongoing murder trial, and Judge Thokozile Masipa has adjourned all arguments in the controversial case until next month. [Bloomberg]

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