Sometimes, the internet seems to exist largely in order to rate things. User-generated and unverified reviews of everything from movies to cars abound. The thing with this proliferation of ratings, be they on Yelp, or Amazon, or whatever, is that we usually don’t have any idea whether or not the reviewer has any basis for his rating. (In fact, the spoof product review has become its own literary micro-genre.)
Spurious or baseless ratings are not a problem when it comes to ATL’s Insider Survey (17,300 responses and counting — thanks everyone!), in which practicing attorneys and current students evaluate their own schools or employers. Among other things, our survey asks attorneys to nominate firms with over- and underrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.
Which firms do those in-the-know consider to be better (or weaker) than their reputations?
The statistics don’t lie. There is approximately a 50/50 split between men and women who graduate from law school and obtain entry-level associate positions at firms. However, many more women end up leaving after a few years and either never return to the firm environment or return to practicing law at all. We can point to a myriad of reasons, both personal to each woman and systemic of the general firm structure, but the bottom line is that women lawyers are a group that could use assistance in getting back into law.
Enter the OnRamp Fellowship. Founded by Caren Ulrich Stacey, the Fellowship is a re-entry platform that allows experienced, talented lawyers to return to the work force through a one-year, paid training contract. This platform allows lawyers to renew and increase their legal skills, while getting a resume boost that will help transition them to the next position at the same or different law firm. The Fellowship also provides lawyers with the opportunity to make valuable networking contacts and obtain professional references.
Woo, Biglaw! Being a summer associate is the best!
Summer associate class sizes may be smaller than they were back in the good old days, but Biglaw firms seem to have used the shrinking summer pool as an excuse to throw events that were overflowing with an abundance of awesomeness. Offers are still being tossed out like Mardi Gras beads, and life was very, very good for this summer’s crop of Biglaw initiates.
But just how good are we talking here? We think the fact that we received an overwhelming number of nominations for this year’s summer associate event contest speaks volumes. We managed to whittle down the list of 20+ gushing nominations we received to just eight of the most amazing. Some were cultural extravaganzas, others were athletic outings, but all were fun and absolutely fabulous. Thanks to everyone who submitted a nomination.
Did your firm make the cut this year? Take a look to find out…
For our purposes, we split “reputation” into two distinct aspects: 1) the reputed strength and quality of a firm’s practice, and 2) the perceived desirability of the firm as a potential employer. For some, these factors will be functionally equivalent. For others, these are less overlapping considerations.
To date, we’ve received not quite a thousand survey responses and today we share some preliminary findings. What are you telling us thus far about which firms have the strongest practices? Which firms are some of the most coveted Biglaw employers in major markets?
It pains me to say this, given my own predilection for prestige worship, but here’s a question: does prestige matter as much as it used to? In an era of greater access to information, a law firm’s overall prestige arguably matters less than it once did.
If a client is looking for an excellent firm in a particular practice area, it can now easily access information about which firms, and even which individual lawyers, excel in which niches. It no longer has to rely on a firm’s brand name as a proxy for a specific strength. And other factors matter to the public as well. Is a firm a good place to work? How stable is its partnership, in this era of increased lateral movement? Is the firm growing or declining?
But make no mistake: prestige is still hugely important. Which is why the Vault law firm rankings are so eagerly anticipated each year.
The latest rankings from Vault of the country’s 100 most prestigious law firms just came out. How do they look?
Today’s Biglaw layoff story involves a firm that’s even more impressive. This firm has been recognized as a great place to work by Fortune, Crain’s, and Above the Law. In fact, it topped our list of the 12 top rated firms for 2013.
Which wonderful law firm is parting with some people, and why?
* The FBI announces that there will be no criminal charges over the “scandal” in which the IRS gave heightened scrutiny to conservative groups that planned to cynically game the law sought tax exemption for their entirely, in no way political activities. As another faux scandal bites the dust, here’s a good round up of butthurt right-wing editorials. [TaxProf Blog]
* SCOTUS Benchslaps! In a lengthy footnote in Daimler v. Bauman, Justice Ginsburg accuses Justice Sotomayor of misstating the record in the latter’s concurrence. In reading the competing interpretations, it seems as though Justice Sotomayor has the most fair reading, but then again the case is 62 years old, and Justice Ginsburg was probably there when it decided the first time. [Josh Blackman's Blog]
* Investment banks are seeing potential recruits running over to the tech industry. Law firms haven’t felt the same draw, mostly because you got a law degree because you suck at math and science. [Law and More]
* It’s about time Wile E. Coyote fought for his rights against Acme’s wanton disregard for customer safety. [Pentagram]
* An interview with Stephen Neal, the chairman of Cooley LLP, probing why Cooley is such a cool firm (evidenced by their #1 ranking in the ATL Insider Survey). [The Careerist]
* There’s a proposed law in Wisconsin designed to get dads out of child support payments. I know this may come as a shock, but it was written by a millionaire who doesn’t want to pay his court-ordered child support. [Jezebel]
* Well, we suggested the NFL concussion settlement was a bum deal the other day, and apparently Judge Anita Brody agrees, halting the deal. [Bleacher Report]
In the two years that we’ve been conducting our ATL Insider Survey, we’ve amassed in excess of 15,500 responses from practicing lawyers and law students. These results have provided us with unique insights into what people really think about their employers and schools. We believe our survey information furnishes our readers with a deep resource for comparing and evaluating these organizations, whether in the form of our Law Firm and Law School Directories, or in posts that take a deeper look at such factors as practice area, compensation, or geographic location. Many thanks to those thousands of readers who have shared their experiences.
Obviously, one subject that the ATL readership is passionate about is the world of Biglaw. Whether it’s to assess a potential employer, or to simply see how one’s firm compares to its peers, apparently there’s no end to the appetite for insider information. So as this year winds down, we’ll end on a happy note and have a look at which Biglaw firms are rated most highly by their own employees…
Since 2008, Crain’s New York Business has produced a list of the Best Places to Work in New York City. Each year, a few law firms sneak onto the list, much like the situation with Fortune’s 100 Best Companies to Work For list.
This year, seven law firms made Crain’s list, while only four made Fortune’s list, as of January 2012. Just two firms overlap between Crain’s and Fortune’s lists.
Which ones are considered tops in the city that never sleeps? Let’s find out…
* Good news if you’re a better golfer than your buddies: if you play in New Jersey, you’re not liable when another member of your group injures someone with an errant ball hit into the proverbial lumber yard. On the other hand, you’ll have to be in New Jersey. [The Legal Blitz]
* Hank Greenberg continues his effort to throw roadblocks in the way of the NY AG investigation into AIG. Now he’s accusing the AAG on the case of ethical lapses, which is only fair since that’s what everyone else is accusing Greenberg of. [NY Daily News]
* It’s official: Biglaw fees are unreasonable. At least by South Florida standards. [South Florida Lawyers]
* A Nevada judge was charged with misdemeanor manslaughter in the death of a bicyclist. If convicted, he could spend up to six months in jail. I’d like to imagine this would play out a lot like when Rorschach went to prison. [Associated Press]
* If you’re in NYC tomorrow evening, the New York City Bar Association is hosting a free event titled “The First Amendment in an Age of Terror” featuring Professor Jonathan Hafetz of Seton Hall University School of Law; James Goodale of Debevoise & Plimpton; Judge Robert D. Sack; Spencer Ackerman, the U.S. National Security Editor for The Guardian; and Jameel Jaffer, Deputy Legal Director, American Civil Liberties Union. [New York City Bar Association]
* Syracuse College of Law students have an early Law Revue video for us. Strap in for a Mariah Carey parody that involves a baby getting a hatchet to the face. That sounds way darker than it really is. Video embedded below….
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: