When we covered the American Lawyer’s annual summer associate satisfaction survey last year, we noted that “[b]eing a summer associate just isn’t what it used to be.” All work and no play may make summer associates dull boys and girls, but it also makes them highly confident they’ll receive offers of full-time employment when their programs end.
Despite the fact that it’s a “buyer’s market for law firms,” many of them tossed out offers to their summer classes like Mardi Gras beads. Summer associates were no longer praying for offers, as they were in certain years past; no, this summer, they almost expected offers to be handed to them.
These were the conclusions drawn from the American Lawyer’s 2014 Summer Associate Survey. Am Law polled 5,085 law students at the nation’s largest firms about their summer experiences and used the results to rank 96 programs. This year’s crop of would-be lawyers was seemingly at ease about their situations, despite the fact that there is still a general unease permeating through Biglaw.
This summer’s overall rankings were overwhelmingly positive. If you’re a law student trying to figure out where to spend your summer, you’re probably asking: which law firms came out with the highest scores?
As we mentioned in Morning Docket, the American Lawyer recently released its Am Law 200 law firm rankings — a list that’s still closely watched, but not quite as prestigious as being a ranked member of the influential Am Law 100. Sorry, but being a part of the “Second Hundred” just doesn’t have the same ring to it.
While the Am Law 100 celebrated a year of “slow growth” in 2012, it looks like the Am Law 200 will be known for its “bets on bulk.” When all of the big boys were busy playing it safe, perhaps out of fear of becoming the next Dewey, firms in the Second Hundred were gobbling up talent like there was no tomorrow.
Of course, as could’ve been expected, this kind of aggressive hiring had some pretty major effects on firms’ financial performance. So how did the Am Law 200 stack up? Let’s find out…
Some readers have issues with the often irreverent commenters here at Above the Law. While ATL commenters sometimes say hurtful or offensive things, like anonymous commenters all over the internet, they also provide significant value. They serve as copy editors, highlighting our typographical mistakes; they work as tipsters, pointing us in the direction of news stories; and they function as fact checkers, identifying errors in reporting.
After seeing this comment, we raised the issue with the Boston Globe reporter who wrote the original story. And as it turns out, Henry Rosen is not the real party in interest. He is not the true purchaser of the prime penthouse at the Mandarin Oriental in Boston.
CORRECTION (7/13/11): Alas, it appears that this apartment is not a lawyerly lair. Please see this correction.
It’s time for a new installment of Lawyerly Lairs, Above the Law’s behind-the-scenes look at luxurious lawyer residences. As we close out the week that started off with the Fourth of July, it’s fitting that we turn our attention to Boston, the city some call “The Cradle of Liberty.”
Ain’t freedom grand? One Boston attorney has enough free cash flow to buy the most expensive condominium ever sold in Boston — the very best penthouse at the Mandarin Oriental Residences, on tony Boylston Street.
Let’s find out who this lawyer is, where he works — and, of course, what $13.2 million buys you in Beantown….
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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.