Yesterday I went for a run, my usual 5k. I had given some thought to going farther than normal but when I got to the point where I could keep going, the trail crossing over the creek was flooded. I was stymied. Guess I’ll be sticking to 5k. Time to turn around.
I made it two steps before I stopped. Was I really going to let some water stop me from pushing myself? Give up at the first obstacle I came across? I pivoted and made my way through the woods away from the trail and towards the road.
I had to run a few blocks on the road away from my usual route to get to a different bridge over the creek. Then back to the trail and on my way — 10k instead of 5. Double my regular run. My lungs burned, legs tired. I felt great. And I almost didn’t do it because there was a trickle of water in my way….
With the number of LSAT takers dropping yet again, the law school class of 2017 is likely to reach a similar low. And there is no indication that the application freefall has stabilized. Regardless, just about everyone (except for this guy) agrees that law school is still either an extremely risky gamble or a complete a waste of time and money.
But for those who are determined to go to law school no matter what any rational, non-biased individual says, I want to help make your dream come true. So while I am waiting for future job interviews, I am going to again interrupt my Back In The Race programming to give the future lawyers some advice that I wish someone had given me when I was an idealistic pre-law student. This is not a joke. Nor am I going to use a clever pitch like “Yale or Fail.”
The next few weeks should be spent taking some proactive and reflective steps to ensure that you will attend the right school and leave with minimal debt. Keep reading to figure out how….
I never heard these words before I went in-house: “If you send something to a person above me in the hierarchy, then send a copy to me, too.”
Now I hear (or speak) those words all the time. And those instructions seem pretty easy to grasp.
Remarkably, a fair number of people don’t seem to understand what those words mean.
I offer this column for the benefit of in-house newbies, and in-house oldbies who don’t understand, and lawyers at firms who might want to consider whether these instructions make sense at law firms, too.
If you’re sending something to someone above me in the hierarchy, then send a copy to me, too.
Ed note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Ann K. Levine, a law school admission consultant and owner of LawSchoolExpert.com, offers helpful tips for law school applicants.
Non-traditional applicants to law school face different barriers to admission and have different concerns regarding school choice, finances, and post-graduation career options than their counterparts who attend law school directly (or within a year or two) of graduating from college.
Three recent law school graduates who fit this mold when they applied took the time to share their thoughts and perspectives in order to benefit future applicants. One graduated from the University of Michigan School of Law in his mid-40s (Scott), one graduated from Notre Dame with a JD/MBA after serving in the military (Todd), and one attended Western New England after 20+ years as a paralegal and office manager for a large law firm (Susan).
1. What were some of your concerns applying to law school as a non-traditional applicant? What were some challenges you faced because you were not right out of college?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
If you stood outside the AT&T Center on June 15th at 9:10 p.m. local time, you would have witnessed a steady stream of crestfallen Miami Heat fans bemoaning the performance of anyone other than Lebron James. Ask any of those fans if they thought Chris Bosh was worth a max contract in the off-season and they most likely would have answered “No!” with feverish enthusiasm.
Fast forward to the off-season, teams have now expressed interest in signing Bosh to a max-contract sheet. As it stands on Thursday, July 8, the Rockets are willing to pay him $22 million a year.
So what does this mean for you? It means that just because your law firm tells you that you’re worth a certain amount of dollars does not mean you can’t secure more greenbacks. Salary negotiations are tricky, and it is helpful to get in touch with a recruiter before you attempt to renegotiate with your current firm. Before you start maneuvering, here are five pointers to consider before strategizing…
Soon after I started my solo practice, I realized that I needed to develop and execute a plan for getting new clients. At first, I did it the old-fashioned way: networking, joining organizations, giving elevator speeches, passing out business cards, and doing contract work for other attorneys. This method took time and cost money and it didn’t work to the extent I had hoped. So I asked a few colleagues whether I should hire someone to help me improve my business.
I received the names of consultants, SEO experts, and coaches. Someone even suggested I talk to Tony Robbins. Some people swore by them while others said that the “advice” they provided was a bunch of hooey and can be found on the internet or at the library for free.
Over the last few years, I have become very skeptical of business development professionals (sometimes known as “marketeers”) who claim that they know the “secret technique” for improving my solo practice. A number of them are lawyers or ex-lawyers who — for one reason or another — decided to go into consulting and coaching. Also, some of these “experts” have questionable backgrounds and may not understand the professional rules that we lawyers have to follow.
I should point out that the purpose of this post is not to badmouth any particular person or the legal business development industry. This guy covered that already. But click onwards to find out the reasons for my skepticism and my thoughts on when it might make sense to retain a business development professional….
Elie here. Everybody wants a deal. Everybody wants to “beat the market,” and the internet makes us think that we can. If a baby with an e-Trade app can make money, why can’t you? Buy low, sell high: I’m sure I read that on a bumper sticker somewhere, or maybe in the New Yorker.
Increasingly, the internet thinks it’s identified just the right undervalued asset to snap up at a discount: legal education. The decline in law school applications has been sharp and truly shocking to some. It doesn’t make sense that a law degree would suddenly be much less valuable now than it was 5 or 10 or 20 years ago. The value should rebound. The world still needs lawyers. And if you haven’t noticed, or just disregarded, long-term structural changes in the market for legal services, the fact that every law dean will tell you that the market rebound is right around the corner gives you more confidence in your logical assessment. It’s not like every law dean in the country would lie about the value of their product, right?
We can and will continue to debate the likely future value of a legal education. But can we dispense with the notion that purchasing full-price legal education right now involves “buying low”? You are not buying low, you are buying at historically unprecedented heights. Nobody would put “Buy high, hope to sell at fair market price in three years” on a bumper sticker.
And nobody should be putting that on the internet either….
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Sarah Morris is a Director at Lateral Link based in Northern California and oversees attorney placements and client services in California. Prior to joining Lateral Link, Sarah practiced law for five years at Skadden, Arps, Slate, Meagher & Flom LLP where she was involved with the hiring and women’s committees. Sarah also worked as an in-house attorney for Bare Escentuals. Sarah obtained her J.D. from Berkeley Law School (Boalt) and her B.A. from the University of California at Berkeley.
Many candidates find that most lateral interviews end up being easier than anticipated, but there are always those tough questions that you want to be prepared for. In addition to doing your research on the firm or company you are interviewing with, be prepared to spend a few hours familiarizing yourself with the types of questions you may be asked. Nothing turns off an interviewer more than “ummm” and “uhhh.” You don’t have to memorize your responses verbatim (and you shouldn’t), but being prepared will help you avoid awkward answers. While it is impossible to cover every tough question an interviewer may ask, below are some of the more commonly asked questions. In addition to some recommended responses, I have also added comments explaining the purpose of the question, and I point out some “traps” the interviewer may be setting by asking you that particular question…
I participate in at least one group discussion per month where a lawyer — employed or not — asks the collective for advice about starting a solo practice. These nonbelievers envy our independence and our ability to adapt quickly to client needs and changing trends.
We respond with the usual tried and usually true advice: Get ready for uncertain income. Don’t overspend. Don’t underspend. Find a mentor. Find another one. Practice in a unique niche you are passionate about, but also serve the needs of the community. Have a sales mentality. And did I mention network?
After the jump, I will talk about a few other things an unemployed lawyer aspiring solo practitioner should also consider — and rant about the worst reason to start a solo practice….
Ed note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Rob Jordan explores how good use of technology can improve your skills at networking events.
“The most meaningful way to differentiate your company from your competition, the best way to put distance between you and the crowd, is to do an outstanding job with information. How you gather, manage, and use information will determine whether you win or lose.” — Bill Gates
I wish I had a dollar for every time I heard attorneys and bankers initiate a networking conversation with the question: “What are you working on these days?” Given attorney-client privilege and/or other confidentiality issues, there is a strong likelihood that the recipient of that question is in no position to answer. And, so, the conversation is instantly uncomfortable and awkward. This is the professional equivalent of asking a potential mate “What do you do?” in a social setting — which is largely, mistakenly, and unfortunately the question of default (at least in New York City). Quite simply, many people either don’t or can’t define themselves by what they “do” or what they’re “working on.” So… don’t do that.
A better approach is to ask, “What’s interesting?”
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: