Do you know why people go to law school? For most people, it’s not because they “love the law” or because they want to be part of the system of justice. It’s because they want to make money. Lots and lots of dirty, sexy money.
Granted, there are easier ways to make money in this world. You could work on your jumpshot. You could do… whatever it is they do in business school, between pub crawls masquerading as “networking events.” You could choose your parents wisely.
But still, if everything works out — and I mean everything — you might make an obscene amount of money in Biglaw. So much money that you can send around messages like this to your fellow attorneys….
A prominent partner left his white-shoe law firm some time ago, purportedly for falsifying expenses. A juicy detail that is less widely known: some of the fake expenses were for what might be described as improper forms of entertainment.
(This blind item — relating to someone who left his firm prior to 2010 — has nothing to do with Ted Freedman, the former Kirkland & Ellis senior partner whose recent departure we covered last month. Please note the update we’ve appended near the end of our earlier post, quoting a source stating that Freedman simply retired.)
Actually, we’re not sure that it’s herpes; that’s just a guess, based on context clues. But apparently some prominent, white-shoe law firm has been hit by an outbreak of a sexually-transmitted disease.
No matter when it’s done, job hunting usually sucks balls. When done in the middle of the Great Recession, it feels like the balls are covered in tangled hair and pointy skin-piercing spikes. It’s painful and you have to be careful.
One disgruntled attorney recently emailed us about a company that he suspects is trying to take advantage of desperate job hunters. He calls it “a new type of scam preying on unemployed lawyers.”
He responded via an ad on Craigslist to an “assets management company” seeking IP attorneys for full-time or part-time contract work. We’ll call the company Pay To Work, LLC. In the ad, PTW says it’s looking for “entrepreneurial” attorneys to do intellectual property work. It says its clients include scientists, inventors, writers, artists, celebrities, universities, and multi-national corporations. That sounds pretty sweet!
But there are some big catches. First off, “partners” are supposed to pay $295/month for “administrative fees.” Second off, the company has no clients at the moment. It’s a start-up in the “set-up phase.” So if you sign up and start paying $300 a month, what exactly are you getting for your money?
Over the weekend, the New York Times took employers to task for taking advantage of university kids eager to get work experience. Unpaid internships abound, and the recession has made it easier for corporate employers to cry poor, and bring on free labor.
However, there are strict federal guidelines [PDF] around unpaid internships, and many are breaking the law by giving their eager little beavers noneducational menial work. The folks at the Labor Department are on to this devious scheme:
Convinced that many unpaid internships violate minimum wage laws, officials in Oregon, California and other states have begun investigations and fined employers. Last year, M. Patricia Smith, then New York’s labor commissioner, ordered investigations into several firms’ internships. Now, as the federal Labor Department’s top law enforcement official, she and the wage and hour division are stepping up enforcement nationwide.
While most of the abusive internships are in the exciting worlds of fashion, film, media, and music, there was at least one poor NYU student suckered into cleaning out bathrooms for free at a law firm…
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: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
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For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
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