Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Sarah Powell helps new associates face their own unrealistic expectations about life in Biglaw.
“I’m not in this world to live up to your expectations and you’re not in this world to live up to mine.” — Bruce Lee
If you read Above the Law, you know that law school, the legal profession, and Biglaw especially are not like the movies, not like the grand old days, and certainly not like partners pitch it to you at on-campus interviews. Still, a main source of junior associate misery is false expectations. Some examples…
Ed. note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Ann K. Levine debunks three popular law school admission myths.
1. The Earlier You Apply the Better
“I want to submit my applications September 1, so I am not going to take the October LSAT (even though I could get a better score).”
Yes, rolling admissions is a “thing” in the law school world. There is some advantage to applying earlier. However, it’s always better to wait and get an LSAT score that more accurately shows your aptitude than to be the first application in the door. There is no advantage to applying in September versus October or even November. The advantage comes in applying in December/early January as opposed to end of January/early February. However, the importance of rolling admissions as a whole has been diminished as the number of law school applicants overall has dropped significantly in the last few years.
2. Taking the LSAT a Third Time is Bad
“I don’t want to retake the LSAT because it would look bad for me to take it a third time.”
I’m often tagged as someone who hates young lawyers. I write about the whiners, the entitled, the ones who buy in to the notion that a law practice is a little square box with cool apps. Because I am critical of some, the narrow-minded tunnel vision types that troll the internet have assured themselves that I, in fact, hate all young lawyers.
None of these people were at the seminar I hosted last week for young lawyers interested in building, growing, and managing a private practice. Because I hate all young lawyers, I took a day and a half away from my practice to host a seminar, buy a few drinks, and help out a few that couldn’t afford to go.
The seminar was a mix of topics. Yes, there was tech — two hours, in fact. One hour on toys and apps, and one on internet marketing. We had a panel of women giving advice to women looking to build a private practice, and we had a panel to discuss the issues facing niche practitioners.
Casey Anthony defense lawyer Jose Baez spoke on how a high profile case can affect a lawyer’s practice. You know, high profile cases are always super awesome. Jose is now getting lots of calls, signing lots of autographs, and trying to recoup his life savings and resolve the foreclosure of his home. His new baby, a baby that was born in a hospital where his wife had to sneak in a back door and use an alias to keep the media and angry mobs away, is doing great.
The crowd was a mix — some experienced lawyers wanting to revamp their marketing or try a new software program — but mostly young lawyers, those that the hucksters and scammers try to convince the future of law is mostly virtual, and nothing like it was just a few years ago. I still laugh at those that don’t realize those touting “the future of law” are trying to sell their vision of “the future.” They don’t know what the future will bring, they just know that they need to make money, and just like fortune tellers, if they can convince you their “future” is reality, you’ll pay. Idiots….
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.
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: