A few pending anniversaries to mention: the twelfth anniversary of the 9/11 attacks; my 45th birthday tomorrow; I have been practicing law for 14 years; and my second year of writing this column for Above the Law is fast approaching.
Really, the only date of any import is 9/11. A “first world problem” for me is that my birthday is forever the “day after” — but at least I have a day after. So many families were destroyed that day, and so many of us will forever duck a little bit when airplanes fly past our buildings. I cannot imagine working in downtown San Diego, where the approach from the East is so close to so many skyscrapers.
I won’t dwell too much on lower Manhattan today, as by now I think everyone remembers in their own way, but I will always cherish my thirtieth birthday, a surprise party held at Windows on the World, surrounded by friends and a swing band in the background. I found a picture from that party — I am hugging some buddies, and was a young buck associate at Coudert Brothers, a 150+ year old firm driven to ruin by poor cash management. Anyway, today will forever be bittersweet as I prepare to look to the future tomorrow, and will always remember that awful day 12 years ago….
We’re in the middle of law firm interview season. We’ve offered you both cheerful and depressing takes on the summer associate recruiting process.
Speaking of depressing things, interviews are frequently followed by rejection. Trust me, I know; I’ve received many rejections over the years. I recently contributed one of my “favorite” rejection letters to an online compilation (see page 27 of the pamphlet, or page 15 of the PDF, reprinted with the permission of Justice Scalia).
That was a kind and gracious rejection letter, which is what you’d expect from a genteel institution like the U.S. Supreme Court. When Biglaw firms turn your dreams to shame, they aren’t quite as nice….
With nothing else to rank at the moment, U.S. News decided to try its hand at “news” and put out an article analyzing the expected fallout from the new mortgage lending rules coming down from the Consumer Financial Protection Bureau. The new rules are intended to stem the tide of future foreclosures by clamping down on profligate lending.
But all clampdowns leave people out in the cold.
To put this more directly: if you thought being a lawyer with good credit would put you in a position to buy your own home, you’re probably wrong….
Earlier this year, K&L Gates generated some (generally positive) press by issuing an unusually detailed disclosure of its firm financials. The report reflected a reassuringly conservative financial position, with zero bank debt and limited retirement-plan obligations (a trouble spot for many other law firms).
It looks like K&L Gates is keeping to its conservatism. It’s trimming its headcount in D.C. and Seattle, presumably to reduce expenses….
The federal government isn’t exactly in rapid growth mode right now (which may explain the pain of D.C. law firms). But if you’re interested in working for the government, some opportunities still remain.
If you’re a 3L or law clerk who’s interested in the Honors Program, you need to submit your application materials very soon — about a week from now. The Honors Program application deadline is SEPTEMBER 3, 2013 (and note that the Labor Day holiday falls during this period, which could affect your ability to obtain transcripts or contact references). For complete application information and the full hiring timeline, see the DOJ website.
We wish you good luck — because you’ll definitely need it….
Earlier this week, we took a look at a contract attorney project in D.C. that has been making the contractors sad. I mean more sad than normal.
We received a lot of actually interesting comments (!) in the thread after the story, as well as emails giving us more details about the project. It appears that the staffing firm, Compliance, has taken some steps to ameliorate the poor working conditions for the contract attorneys. It also looks like the working conditions could actually be improved if they dropped a Port-a-Potty in the middle of the conference room.
But it’s not all bad. Sometimes speaking out can lead to improved working conditions. Let’s take another look at how the other half lives, and you know, scare the bejesus out of 2Ls doing OCI right now who are really hoping to get jobs….
We don’t do enough reporting about the struggles of contract attorneys. We should do more, because that’s where the jobs are. Biglaw firms have been able to keep traditional associate hiring down thanks to an explosion in the use of contract attorneys. Getting one of these hourly wage jobs actually represents success in a market saturated with underemployed attorneys.
Now I remember why I don’t do a lot of reporting on contract attorneys: acknowledging that these, and not high-paying traditional associate salaried positions, are the jobs coming back in the “recovery” is terribly, terribly sad.
This might come as a shock to you, but being a document monkey on an hourly wage is not all that it’s cracked up to be. These hard-working people generally want to work as much as possible (kind of the opposite of traditional associates) for obvious reasons. But they are often frustrated by all sorts of bureaucracy and poor treatment in their quest to wring some value out of their J.D. degrees.
We have some emails detailing the struggles of one group of contractors working on projects in D.C. Hopefully, this will inspire other contract attorneys to share their experiences with “the new normal”….
When my late grandmother heard I was going to law school, she recommended that I go into matrimonial law. It was her view that in a divorce, the real winner isn’t the husband, or the wife, but their attorneys: “The couple ends up with nothing, the lawyers end up with everything!”
That’s not exactly true. My grandmother — who worked as a doctor and not a lawyer, in a country that doesn’t have divorce — was hardly an expert on family law.
But there’s no denying that some divorces are very expensive for the couples — and very lucrative for the lawyers. One Biglaw partner and his (soon to be former) wife have racked up seven figures in legal bills. And they’re not even done yet….
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.