Axiom is a mysterious animal in the legal market. It’s not quite a law firm, but it’s not quite a low-end outsourcer. Axiom has over 1,000 employees, over $150 million in revenue, and has started handling entire deals. The only thing that’s certain is that it’s a force to be reckoned with, and one that might change the face of Biglaw.
CEO Mark Harris is now admitting that, one day, in the future, Axiom might go public.
In the annals of “reasons to become a lawyer,” deciding to go to law school on a bet isn’t really the worst. Thinking you need to go to make $1 million is.
With summer programs in full-swing, lawyers are attending marathon lunches at high-end restaurants. But just because a lunch is expensive doesn’t make it awesome. There are foodies with a finer sense of cuisine out there who can find real gems for your all-expense paid lunch.
That’s why the best lawyer to bring along for a long lunch is this Paul Weiss alum who wrote a book about food around the world. She’s sort of like Anthony Bourdain with a law degree…
Think Olivia Pope (Kerry Washington) of Scandal, but with a Biglaw background.
Consulting is a popular path for law students and lawyers. Legal education and practice can help hone the analytical and communication skills required of consultants. Both lawyers and consultants solve problems — often complex, intractable problems — and are rewarded handsomely for their efforts.
Are you interested in pursuing consulting as a possible career path? Today we introduce you to a lawyer turned consultant who reminds us of Olivia Pope of Scandal — a high-powered troubleshooter who is confident, eloquent, and attractive….
What should unemployed law school graduates do when they can’t find work and can’t feed themselves? A certain great French princess — although not Marie Antoinette, FYI — might say, “Let them eat cake.”
But not everyone can afford cake. Debt-burdened young (and not-so-young) lawyers don’t want to spend dough; they want to make it.
Perhaps literally as well as figuratively. Do you have some talent in the kitchen? Here’s an inspiring story for you….
In the wake of the Weil cuts, our friend Bruce MacEwen gave an interesting interview to Bloomberg Law’s Lee Pacchia. Bruce speculated that there is possibility of up to 10% overcapacity in Biglaw, and the supply and demand curves for legal talent have permanently shifted. In Bruce’s view, Weil is “very much ahead of the curve.” Ominous tidings for associates everywhere. There’s an interesting point in the interview where Pacchia wonders whether the legal profession will ever return to a “halcyon era” where law firm partners’ immediate self-interest is minimized in favor of long-term stewardship. Bruce, channeling Clubber Lang, responds that the only thing that will return us to that golden era, if it ever existed, is more pain.
Last week we conducted a research poll asking for your take on whether the Weil layoffs signal an oncoming reprise of the Biglaw bloodbath of 2008-09 or a singular phenomenon. Let’s look at the results of our poll and some choice highlights from your responses….
For some people, a career in Biglaw can lead to some serious mental health issues. The odds are high that in some point in your life, you’ll wind up inside a therapist’s office to lament whatever ails you.
But for other people, a career in Biglaw can inspire a will to offer counsel — of the therapeutic variety — to people who’ve been worked to death. And who better to do so than someone who used to work for one of the most prestigious law firms in the world?
You, too, can land a job on the other side of the couch. It’s time to slip off those white shoes, and find out how you can make the transition…
For those who are brilliant (and lucky) enough to get hired, being a law professor is a great job. You get to write and teach about interesting subjects. You get the summers off — yes, we know you have articles to work on, but you have total flexibility about your hours and location. You get to be a public intellectual, writing for newspaper op-ed pages and magazines. And you get paid well, too.
If you have an unusual personality, don’t sweat it. Legal academia is welcomingto sociopaths. And sadists, too.
If you enjoy inflicting pain on others, being a law prof is a great gig. Using the Socratic Method, you get to torture 1Ls — and many of them will eat it up. As a law professor, the winner of multiple teaching awards, once told me, “The students like it when you’re a hard-ass; they like to be challenged.”
Many law students don’t mind verbal victimization, but they’d probably draw the line at physical contact. Which brings us to a high-profile law professor who goes around sticking needles in people….
Many moons ago, around this time of year, I worked as a summer associate at Wachtell Lipton. I enjoyed many a fine meal that summer (although Wachtell’s program is more work-focused and less lunch-focused than many others). One of my favorite occasions was a dinner at Jean-Georges with partner Karen Krueger, her husband, myself, and a girlfriend of mine.
Oh how times have changed. It’s rare to see partners leave the gilded cage of Wachtell Lipton, where annual profits per partner regularly exceed $4 million. But Krueger had the guts to make the jump. She left the practice of law and now works as a nationally certified teacher of the Alexander Technique.
What is the Alexander Technique? If you suffer from pain, perhaps as a result of your stressful law firm job, it could be your salvation. And it might help you with your poker game, too….
Chaos is a ladder. And right now, the legal education business is chaotic. Prospective law students are starting to wise up to the law school game. Applications have been dropping as law schools struggle to explain how it makes sense to go deep into debt just to participate in a very challenging job market. It’s very likely that the smarter people with good options are avoiding law school, leaving many law schools competing for a less intelligent crop of students. And still, more law schools are coming.
I don’t know if some law schools will fail, but I do know that some law students will be taken advantage of. But some law schools will also “win.” Some will come out of this “crisis” stronger and better off than before. Bloomberg Law crunched some numbers and has come up with some interesting stats on which law schools are gaining strength through the crisis, and which ones are grasping at straws…
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.