The client always has more leverage but certainly, for the high-end work, the firm is calling the shots.
– Kent Zimmermann, a consultant with Zeughauser Group, commenting on the premium hourly fees charged by Biglaw attorneys in sought-after practice areas like mergers and acquisitions, corporate finance and securities, white-collar defense, and litigation.
(That’s interesting, but what were the highest and lowest rates for partners and associates in 2012? We’ve got that info, and more, after the jump.)
It’s that time of year again. First-year students of the bright-eyed and bushy-tailed variety are frolicking into law schools across the country for their first week of classes, blissfully unaware of the jaded upperclassmen who inhabit the same building. At this point, the biggest worry of 1Ls is whether they’ll be highlighting their books in rainbow colors — that, and if they’ll be able to get into their lockers.
In this edition of Locker Wars, we meet a member of the class of 2015 who fears that the administration at his law school already considers his classmates “dullards” because they’ve locked themselves out of their lockers so many times that an instructional video had to be sent out….
Let's hope nobody you make fun of ever decides to kill themselves. Otherwise you might end up like Ravi.
* So, your colleague or family member dies, suddenly, after allegedly being worked into the ground. But it’s my blog post about it that “turned the sad situation into a nightmare”? I think instead of lamenting for a fluff piece in a local paper, the media geniuses at Dinsmore should respond to a legitimate press inquiry. [West Virginia Record]
* The Dharun Ravi trial is under way. I’ll be calling it the Ravi trial, not the Tyler Clementi trial. Because Tyler Clementi is the kid that tragically killed himself, while Dharun Ravi is the very much alive person who has already had his life ruined even thought he didn’t kill anybody. [Metropolis]
* Are law firms finally starting to make money off of their investments in social media? [Legal Blog Watch]
We tend to think of the biggest Biglaw firms as “sweatshops,” while we view small firms, midsize or regional firms, or even Am Law 200 firms as “lifestyle” shops. The thought is that the big bad firms that service Wall Street clients will grind you up and spit you out, while somewhat smaller firms will allow you to have a normal life as you pursue your career.
It’s a great story, but it’s not necessarily a true one. Sometimes working at a smaller firm or a regional firm just means the same work with more pressure and less pay. Attorneys at such firms, whether partners or associates, don’t always have the kind of resources that Biglaw attorneys enjoy. There aren’t multiple layers of staffing available to double- or triple-check every document. It’s a lot of stress.
And stress can be just as deleterious to your health when working at a regional firm as it is when you work for a truly huge firm. This week, we’ve been fielding a bunch of reports about an associate who passed away at home after working what some tipsters report as maniac hours at his regional law firm the week before.
It’s a sad story, one that some accuse the law firm of trying to cover up, but it’s another opportunity for us to remind readers to take care of themselves even when work seems overwhelming…
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
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.