Today we bring you good news and bad news from Dickstein Shapiro, a prominent Am Law 200 firm headquartered in Washington, D.C. (with offices in five other locations). Let’s start with the good news.
The good news: last month, the firm brought associate salaries up to the market scale (i.e., $160K for first-year associates, $170K for second-years, $185K for third-years, etc.). As you may recall from some of our prior coverage, for a time Dickstein was paying below-market salaries, pursuant to a non-lockstep compensation system.
(A pay-related aside: it seems that we never covered the most recent bonus cycle at Dickstein. If you have info you can share, on bonuses or salaries or anything else about the firm, please email us, subject line “Dickstein Shapiro.”)
* At least two firms probably won’t be handing out spring bonuses like candy this year. While gross revenue remained steady at Dickstein Shapiro and Crowell & Moring, PPP dropped at both firms. [Legal Times]
* Not-so breaking news: the Thirteenth Amendment applies only to humans. It seems like the only people who didn’t already know that were the lawyers PETA hired for their orca whale slavery case. [Washington Post]
* Washington has approved a bill to legalize same-sex marriage, and Governor Gregoire has vowed to sign it. Wedding planners can prepare for a fabulous summer season, and divorce practitioners can create a new niche. [CNN]
Being a summer associate isn't a day at the beach, but it's still pretty awesome.
A summer associate program at a top law firm is like sex or pizza: even when it’s bad, it’s still pretty good.
That seems to be the conclusion of the American Lawyer’s 2011 summer associate survey. Am Law polled 3,656 students at 138 law firms about their summer experiences and used the results to rank 108 summer programs. The lowest-ranked program — that of Chadbourne & Parke, in case you’re wondering — still emerged with a healthy overall satisfaction score of 4.142 (on a 5.0 scale).
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?
You know associates are pissed when they end their emails to Above the Law with lines like this one, from a message we received last night:
NO ONE SHOULD COME HERE. EVERYONE HERE SHOULD LEAVE.
Jacob Riis photographs associates at one Biglaw firm
That’s what happens when you tell your associates that they’re going to get paid significantly below market and like it.
Several firms have not yet announced spring bonuses, and associates at these firms are annoyed. But there are only a handful of Biglaw firms that cut associate salaries back during the recession and have not yet brought their people back to market-level base compensation.
One of the firms that is lagging behind the rest of the market had an “all associates” conference call yesterday, during which management tried to explain why associates were being underpaid and undervalued by the firm.
* Khalid Sheikh Mohammed will be tried by a military commission at Guantanamo, but John Yoo is still not satisfied. He wants to capture people and hold them indefinitely without trial proof that the Obama Administration can conduct terror trials successfully. Obviously, the elegant solution is to make KSM live in Yoo’s basement until one of them begs for an impartial arbiter. [Ricochet]
* If you ever read the warnings on your prescriptions, I think this is what you’ll see (by Jeremy Blachman). [McSweeney]
We’re hearing reports — not yet confirmed, so please take them with the proverbial grain (or shaker) of salt — that Winston & Strawn has rescinded some or all of its offers to partners of Howrey.
The supposed catalyst for the collapse: antitrust star Sean Boland, who had been leading the talks on the Howrey side, pulling out of the deal. It has been rumored that he might take his team not to Winston but to Baker Botts (which has already absorbed other Howrey talent).
What we do know for certain is that the partner exodus from Howrey continues. Here is the latest confirmed news.
UPDATE: Various updates have been (and are still being) appended — after the jump….
Add Dickstein Shapiro to the list of firms that have decided to do away with lockstep associate compensation. As of January 22, Dickstein will adopt a new merit-based compensation system. Like many firms that have abandoned lockstep, Dickstein will be using a three-tiered system, similar to Orrick’s compensation structure.
Starting salary for new Dickstein associates will be $145,000. Or maybe it will be $160,000. Honestly, I can’t tell you with certainty what new associates will be making.
It’s not my fault. I read the original memo and everything. I talked to friends and sources and a spokesperson for the firm. I prayed on it. I just can’t seem to pin down one solid number for first-year associate salaries.
After the jump, why don’t you guys take a look at the memo? Maybe you’ll have more success divining its meaning than I did.
We’re still catching up on associate bonus news. There have been some memos we’ve missed, including some from last month (technically, last year). If we haven’t reported on your firm’s bonus announcement, please email us. Don’t assume that one of your colleagues will submit the memo; that’s not necessarily the case.
Today we belatedly bring you bonus news from Kasowitz Benson. On December 31, the firm announced “benchmark” bonuses that appear to follow the Sullivan & Cromwell scale. But the memo notes that these are just “benchmark amounts, which are subject to adjustment to reflect individual performance and hours worked.” In the memo’s bonus table, the words “of up to” appear in between the words “Year-end bonus” and the dollar amount.
In addition, even some Kasowitz associates who received the full market amount aren’t happy. Find out why, and check out the full memo, after the jump.
Before Christmas, we highlighted one law firm holiday card that we particularly enjoyed (from Haynes and Boone). We also invited readers to email us with other holiday cards we might enjoy. We stated that, if we received sufficient submissions, we might even hold a contest.
Lo and behold, we did receive enough entrants. So we are happy to hold Above the Law’s first holiday card contest.
Check out the nominees and vote — you’re stuck in the office between Christmas and New Year’s, and you’re bored — after the jump.
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.
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.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
Non-attorneys would think the stress comes from preparing for a big trial, deposing a hostile witness, or crafting the perfect contract for a picky client.
But that’s nothing compared to the constant, nagging, real-life kind, the kind you get from the day-to-day grind of being a law-abiding attorney.
Connecticut plaintiffs-side boutique litigation firm (12 lawyers) seeks full-time associate with 2-4 years litigation experience, top tier undergraduate and law school education. Journal or clerkship experience a plus; highest ethical standards and strong work ethic required. Familiarity with Connecticut state court legal practice is preferred, but not required.
The firm handles sophisticated, high-end cases for plaintiffs, including individuals and businesses with significant claims in a wide array of matters. Our cases often have important public policy implications, and are litigated in state and federal courts throughout Connecticut. Representative areas of practice include medical malpractice, catastrophic personal injury, business torts, deceptive trade practices and other complex commercial litigation, and products liability.
Additional information can be located on our website, at www.sgtlaw.com.