The firm has a long and distinguished history of pro bono work. And it’s a leader in the area of government service. Many of its lawyers used to work at the Justice Department, the White House, and other top governmental entities. And many high-ranking government lawyers, such as solicitor general Donald Verrilli Jr., used to work at Jenner.
But what if you’re less interested in public service and more interested in debt service — specifically, retiring your own substantial law school loans? Is Jenner the best place to work?
For Supreme Court clerks from October Term 2011, the historic Term of NFIB v. Sebelius (aka “Obamacare”), the hot firm to go to was Jones Day. As Tony Mauro recently reported, the firm hired six SCOTUS clerks from the OT 2011 class, which “may be the most clerks signed up by a single firm from a single term” (although Ted Frank suggests that Kirkland & Ellis might have had seven clerks back in 1995).
UPDATE (3/17/2013, 1 p.m.): Per Mauro, K&E has never had six or seven clerks from a single Term.
Leading litigatrix Beth Heifetz — a former SCOTUS clerk herself (OT 1985 / Blackmun), and a Tina Fey doppelgänger — confirmed that Jones Day paid the going rate in terms of SCOTUS clerkship bonuses: $280,000 (on top of the usual base salary and year-end bonus). One of the new hires, Rachel Bloomekatz, is joining JD’s office in Columbus, Ohio. She should be able to survive out there on half a million (the SCOTUS clerkship bonus plus a fifth-year associate’s salary; she’s a 2008 UCLA Law grad).
But what if you’re in the Columbus office and not a SCOTUS clerk? Don’t expect to be shown the money; instead, you might be shown the door….
As we recently mentioned, 2012 was a banner year for O’Melveny & Myers, in terms of legal work performed and the resulting financial rewards. According to Am Law, “the firm set new records in profits per partner and revenue per lawyer, with the former surging 19.4 percent, to $2.06 million, and the latter rising nearly 10 percent, to $1.1 million.”
O’Melveny’s gross revenue grew by 5.1 percent, to $818.5 million. It’s great to see a law firm with top-line growth. Many firms these days can’t grow total revenue or revenue per lawyer; they just try to cut expenses, resorting to layoffs and similar tactics, to improve profits per partner.
Did OMM’s improved PPP trickle down to associates, in the form of bonuses? Here’s what sources report….
‘They stole [accreditation] from us. Sneaky little ABA. Wicked, tricksy, false!’ — FAMU Law
Ed. note: Due to the Presidents’ Day holiday, we will be on a reduced publication schedule today. We will be back in full swing tomorrow. We hope you enjoy your day off (or feel free to lament your lack thereof in the comments).
* “[T]hey don’t want to hear nothing.” Vedel Browne, the man accused of robbing Stephen Breyer at machete-point while the justice was vacationing in his home in the Caribbean, now claims that he’s innocent, mon. [St. Kitts-Nevis Observer]
* You know what, the farmer in the Super Bowl commercial probably didn’t have to deal with bullsh*t like Monsanto’s seed patents, but today’s farmers do, and they’ll argue their case before the Supreme Court this week. [New York Times]
* “I’m a betting man. And I would bet and give odds that Sullivan & Cromwell has never said that publicly.” Who dares question S&C’s stance in the hot mess that is Herbalife? None other than Carl Icahn. [Am Law Daily]
* Here’s an important Biglaw math lesson that’s been provided to us via California-based firms like Irell & Manella, Munger Tolles, and Orrick: a little revenue minus a lot of partners equals profitability. [Recorder]
* Amid a flurry of filings on Valentine’s Day, love must’ve been a battlefield for the embattled Dewey & LeBoeuf refugees who were in desperate search of their once promised 2011 bonuses. [WSJ Law Blog (sub. req.)]
* From the department of things that suck: having to defend your office’s alleged “underhanded tactics” in a $150 million wrongful conviction case while you’re trying to get re-elected as district attorney. [New York Times]
* We got bitches in the office lawyerin’ on, and they ain’t leavin’ till six in the mornin’ — unless they want to be fired. An ex-Travers Smith trainee claims she was canned for leaving the firm “early”… at 6:30 a.m. [Telegraph]
* If it weren’t for Cosmo, this woman wouldn’t have known her landlord was an alleged creeper. A Maryland lawyer now faces criminal charges for allegedly filming his female tenants in the nude. [Washington Post]
* “We wants it, we needs it. Must have the precious!” The ABA officially put Florida A&M on notice that its law school accreditation may be in jeopardy if they don’t shape up in terms of bar passage. [Orlando Sentinel]
* What do you do the second you step off a cruise ship that’s been described as “a floating toilet, a floating petri dish, a floating hell”? You grab the very first lawyers you see, and sue! [Nation Now / Los Angeles Times]
“We recently made a whole slew of people partner,” said a source. “Looks like our biggest class in a few years and includes several home-grown talents.”
One happy camper even wrote in to rave about the D.C.’s office celebration of Black History Month this past Monday, which featured a conversation between Congressman John Lewis (D-GA), an icon of the civil rights movement, and Congressman Steny Hoyer (D-MD), the House Minority Whip.
“The event was fantastic,” this tipster told us. “Congressman Lewis stayed to chat with MoFo attorneys and staff until 9 p.m.”
But happiness is not universal at Morrison & Foerster. On the subject of associate bonuses, we’ve heard from a few angry MoFos….
Some of our associate readers were nothappy with their latest bonuses. But hey, let’s look on the bright side: at least they got bonuses (assuming they made their hours).
The same can’t be said for former associates of the now-defunct Dewey & LeBoeuf. These associates sought to be treated as Dewey creditors in the firm’s bankruptcy case, but the effort isn’t going so well. And the same could be said of retired partners of D&L, some of whom could be paying money into the bankruptcy estate instead of getting money out of it….
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.