Biglaw

On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”

Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.

But we wonder if there’s more to this story than meets the eye….

double red triangle arrows Continue reading “A Wachtell Lipton Partner’s Mysterious Departure”

Summer associates, do you think you understand how to avoid that no-offer? For a little fun (while you’re “working” oh-so hard) take the ATL Summer Associate Reality Check and test your historical knowledge of notorious summers who have gone before you. Also, learn what to do — and what *NOT* to do — in order to get that job offer.

(This challenge is brought to you in partnership with our friends at CredSpark.)

Take the ATL Summer Associate Reality Check here.

Ed. note: Please welcome Above the Law’s guest conversationalist, Zach Abramowitz, of blogcasting platform ReplyAll. You can see some of his other conversations and musings here.

For those lucky enough to get an offer from a Biglaw firm, you’re probably a few weeks into the decadence that is being a summer associate. And most of you are probably enjoying it. Sure, you’ve been told that once you’re a “real lawyer” you won’t spend your days being wined and dined, and your evenings attending concerts and improv classes.

But for those of you who may not think this whole corporate summer camp is all it’s cracked out to be, I’m here to tell you that you’re not alone. There are at least two other people in the world who share your sentiment. So sit back, relax, and enjoy this conversation with my former colleague Ethan Lutske — the one other person I could find willing to go on the record about how being a summer associate sucks. And if anyone asks, just do what you’ve been doing for the last three weeks and bill your time to “Legal Reading.”

double red triangle arrows Continue reading “Why We Hated Being Summer Associates”

* The New York Court of Appeals put the hurt on defunct firms seeking unfinished business fees from former partners who left for greener pastures. Sorry, I didn’t follow ATL protocol: “Dewey think firms should collect unfinished business fees?” [WSJ Law Blog]

* We reported on the Tinder lawsuit yesterday. Here’s a collection of all the messed up texts involved. [Valleywag]

* Facebook’s lawyer is now calling the emotional manipulation study it recently conducted “customer service.” Dear Internet: Despite all your rage, you’re still just rats in a cage. [The Atlantic]

* So if you’re studying for the MPRE, blow jobs aren’t the preferred legal fee. [Legal Profession Blog]

* How did your last cell phone bill look? Because the FTC says T-Mobile knowingly added hundreds of millions of charges on. At least that girl in pink was cute, huh? [USA Today]

* BNP Paribas is confident it can pay its record fine. [Dealbook / New York Times]

* Meanwhile, Putin accused the U.S. of trying to use the BNP fine to blackmail France into turning its back on Russia. Because conspiracy theories are awesome. [Bloomberg]

* Lawsuit filed because right-wingers totally miffed that black people voted for a Republican. [Sun Herald (Mississippi)]

For about three years now, we have been conducting the ATL Insider Survey through which our audience members share their insights and experiences regarding their own employers and schools (or alma maters). From the data we’ve collected, we have created a slew of content, including our Law Firm and Law School Directories. Many thanks to the approximately 17,000 (and counting!) of you who have responded.

Today, we launch a different sort of survey, one where we ask you to look outside your own organization and share your opinions about other law firms. Who do you respect? Who do you fear? Who are you secretly happy to see on the other side of the table?

The ATL Law Firm Reputation Survey asks those of you working in law firms to rate your peers and competitors. We look at “reputation” as having two distinct aspects: 1) the reputed strength and quality of a firm’s practice, and 2) the desirability of the firm as a potential employer. Of course, these two aspects may or may not be closely connected, depending on an individual’s perspective. Does “culture” matter or is it all about “prestige”? You tell us.

Our survey will present you with a couple of (short, randomized) lists of firms for you to rate on both these points, tailored for your geographic location.

Take five minutes and take our survey here. Thanks!

Don’t tell anyone where you are going. Don’t tell anyone you are going. Take Fridays here and Mondays there and pretend you are sick. Milk that mild depression diagnosis. Just let it all accrue and wait until you change jobs.  

A sampling of common advice on taking vacation as a Biglaw associate, but sometimes it doesn’t always work out….

double red triangle arrows Continue reading “Qui Tam: Vacations”

Biglaw associates are used to the “black hole” effect when it comes to their assignments. Sure the work is important and valuable, but because of the disconnect between a typical Biglaw attorney and an actual client, it can feel like any given assignment is destined for a “black hole,” rather than serving as a building block for solving a client’s problem. The further removed the lawyer is from the client, the more pronounced the effect. It can be a morale drainer, especially if it looks like the lawyer will never get the chance to work directly with a client on a matter of significance.

Working at a boutique or smaller firm, where there is more direct client contact by necessity, presents a different challenge to a lawyer’s motivation than the “black hole” effect. Because at a smaller firm, or even for partners in Biglaw firm lucky enough to make the adjustment from service partner to a true “counselor,” the lawyer in close contact with a client must confront the inherent limits in the attorney-client relationship. Yes, it can be much more rewarding to have a practice where you feel like you are partnering with your client to get things done. But it becomes all the more frustrating when you give advice, even good advice, that goes unheeded by that same client….

double red triangle arrows Continue reading “Beyond Biglaw: The Limits Of Lawyers”

I was trying to achieve a work-life balance after I had missed my children’s lives.

Lee Smolen, the ex-Sidley Austin partner who was hit with ethics charges after he faked almost $70,000 in reimbursable car fare expenses, during his testimony last week before the Illinois Attorney Registration and Disciplinary Commission. The IARDC seeks a temporary suspension of Smolen’s license to practice law as punishment for his pilfering.

Yesterday we wrote about a managing partner’s abrupt departure from her firm — a departure that the remaining members of management noted in a somewhat snarky email.

At the time, we didn’t know where she was headed. Now we know her destination — and we can understand why some of her former colleagues might be bent out of shape over her leaving.

Where did this prominent partner land, and what might happen to the firm she left behind?

double red triangle arrows Continue reading “An Update On A Managing Partner’s Mysterious Departure”

Here at Above the Law, we love ourselves a good departure memo. If a great one makes its way into your inbox, please feel free to send our way.

People write departure memos so they can frame their farewells — explain why they’re leaving, provide their new contact information, and thank the people who need to be thanked. But what about if a partner — a managing partner, no less, and one involved in a summer associate scandal from a few years ago — just quits without explanation?

In that case, the remaining members of management write her departure memo for her. And oh what a departure memo….

double red triangle arrows Continue reading “Managing Partner Quits Suddenly, Firm Sends Out Snarky Email In Her Wake”

Page 8 of 3271...456789101112...327