Last week, we asked our associate readers to tell us how their billable hours were shaping up in 2012 so far. The results are in, and partners and associates alike may be glad to learn that things seem pretty normal.
I mean, if you didn’t know that there hasn’t been a salary raise for five years, or that bonuses are now paid in Amex gift cards, you’d say that associate billables had achieved a happy balance.
Some people are working very hard, some people are slacking off, and most people are somewhere in the middle, keeping their heads down but not trying to be heroes…
It’s June already. Can you believe it? Time sure flies when your wife is pregnant and you have just a few more months to completely reorganize your life into something resembling “serviceable.”
As we approach the midway point of the year, we figure it is a good time to check in on how our readers’ billable hours are looking. Given how low the Cravath bonuses were, and the fact that most firms decided to not pay spring bonuses, one would expect that associates in Biglaw have responded by working as little as possible. Nothing says “you did not share the wealth” like a few months of bare-minimum billing!
I’m joking, of course: associates couldn’t band together to organize a work slowdown any more than a herd of stray cats could go wildebeest hunting. In fact, one of the reasons firms can low-ball bonuses with impunity is because associates are more afraid about losing their jobs to the masses than they are about competing for the highest compensation.
We expect associates are still busting their tails in 2012. But let’s share some horror stories, and take a poll to confirm those suspicions…
Last week, we asked you to report on how many hours you were on track to bill in 2011. Well, the results are in, and damn, people out there in Biglaw have been working like dogs.
I hope there is a big bonus payoff for all the hours people have been billing.
I also hope that people are still finding time to live their life. One commenter disturbingly said, “I’m currently at 2650 for the year. I was hoping to get to 3000 by year-end, although it will be a stretch.”
I think that this commenter is bragging that he’s on pace to kill himself. But all around Biglaw, people are putting in time…
We’re doing this a little bit late this year. We’re into the fourth quarter and we haven’t yet asked you guys: how many hours are you on track to bill this year?
It’s an important question.
Remember firm leadership has already started trying to manage expectations about 2011 bonuses.
And between the natural inclination to keep as much money as possible and prudent concerns over a double-dip recession, many firms will want to hold the line on associate bonuses.
But that’s going to be harder to do if people have been busting their tails…
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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: asia@kinneyrecruiting.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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Last week, we asked our associate readers to tell us how their billable hours were shaping up in 2012 so far. The results are in, and partners and associates alike may be glad to learn that things seem pretty normal. 
