File this one under #firstworldproblems. Today we have a guy who got into the University of Chicago Law School and Duke Law School, and he’s getting money from both.
But he’s getting a little more money from Duke… which is about as close as you’ll ever get Duke to admitting that it’s not “the Harvard of the South” because Harvard wouldn’t give you a dime to draw you away from the UofC (no offense, Brian Leiter).
So what should this guy do, other than be happy and email ATL about his good fortune? Well, you probably need a little more information…
I told careful readers six months ago that I would soon be moving to London. I made the move on September 1, and here’s the local news:
Senior partners at major London law firms can’t afford to live!
Well, not quite: But senior partners at many major London law firms can’t afford to live in London itself.
I recently had lunch with — prepare yourself — a senior partner at a major London law firm. When I told him where I was now living, he said that it was nice that my commute would be so short:
“Twenty years ago, the senior partners at most big law firms lived in London. But today, unless you have inherited wealth or bought your home long ago, most senior partners at London firms can’t afford to live anywhere near the City. Partner pay just won’t cover the cost.”
As an expatriate American, this startled me: I’m confident there’s no American city where senior partners at major law firms can’t afford local real estate. But in London, this has the ring of truth to it. From an American’s perspective, everything in London is nauseatingly expensive (or “quite dear,” as the locals so quaintly put it). But the cost of housing goes far beyond “nauseatingly expensive”; it’s eye-poppingly, grab-your-chest-and-drop-to-the-ground, out of sight. It leaves partner pay in the dust. Here’s what I mean . . . .
Yeah, you read the headline right. We’re talking about the class of 2011. The class that Jim Leipold of NALP thinks probably faces the very bottom of the legal job market. You could make a movie — a horror movie, a goddamn snuff film — about the struggles of the class of 2011.
But there are people in the class of 2011 who did not crash and burn. It’s a struggle, it’s a war, and there’s nothing that anyone’s giving. But… at the end of the day, there are some people who are making it.
Apparently, success is so rare for the class of ’11 that some of them don’t even know how to handle it. Yesterday, the wife of an idiot 3L asked us how to stop her husband from making a huge mistake. Today we’re giving advice to a different person — a woman who has worked hard and come out of the muck and now finds herself in a position of strength.
Most people in the class of 2011 are just taking whatever they can get. Let’s see if we can help this lady with her distinctly “first world problem.” I’m not gonna lie to you, it’s gonna get weird. She has two offers…
We have entered June, and most recent law school graduates finished school a few weeks ago. The initial anxious adrenaline rush of receiving your fancy new bar exam study materials has faded, and summer tedium is setting in.
Our Bar Review Diarists are getting a little deeper into their studies. They’re beginning to realize studying for the test isn’t necessarily difficult. It’s largely boring. They are discovering how alluring a pointless shopping trip can be, and they are realizing how long it’s been since they have written anything by hand. In other words, it was kind of a bummer of a week.
Let’s see how Jeanette, Nathan, and Andrew are handling the summertime blues…
As we reported over the weekend, it’s looking like Dewey & LeBoeuf will soon find itself in bankruptcy (perhaps voluntarily, perhaps not). The specter of bankruptcy raises a question for the many former partners of Dewey: dude, where’s my car capital contribution?
Let’s find out — and get the latest dispatches on the Dewey death spiral, including news of a new home for former vice chair Ralph Ferrara….
I had a cup of coffee last week with an old friend who happens to be a legal recruiter.
“Are you going to try to pry me out of my job?” I asked. “That’ll be a pretty tough sell.”
“I couldn’t place you if I tried,” he said.
“You crossed that Rubicon two years ago. I do searches only for law firms, and they don’t hire in-house lawyers. You’re no good to me anymore.”
“Law firms buy books of business. Not only that — they buy only past books of business. Nobody buys a story — a promise of future work — these days. Firms buy only your past successes. That’s often incredibly stupid, but it’s what they do.”
The guy had my attention: First, I’m no longer a hot commodity; somehow, that annoyed me, even though I’m not looking to sell myself these days. Second, law firms are stupid about lateral hiring; this was a blog post waiting to happen . . .
Don’t you just hate it when rude and inefficient airline administrators ruin your vacation by stranding you on the ski leg of your vacation in Aspen, causing you to almost miss your cruise leaving out of Florida? It’s so annoying to have to stay in a series of luxury hotels across the country because the airline industry can’t get its act together.
I’m doing a silly parody of rich people problems, but honestly, if I have to choose between well-offf Americans and the fools and crooks who run the airline industry, I’m going to throw my lot in with the rich people every time. Especially when some employees are allegedly hurling racial insults at them.
It was a wild holiday vacation for the the Shulick family of Philadelphia. Luckily, patriarch David Shulick is a lawyer, so he knows that when the airlines push you around, you can sue….
Yesterday we covered a controversy at Yale Law School over an Administrative Law class with an oversubscription problem. The course, taught by visiting Stanford law professor Daniel Ho, wound up with a waitlist of about 100 students.
Some 3Ls who were denied admission into the class were quite upset, since this represented their last chance to take Admin Law. The situation was described to us as a “near riot.” As a tipster noted, “Only at YLS could students get this bent out of shape about not being let into a black letter law class.”
This morning we bring you an update to this story — which has a happy ending, we’re pleased to report….
In a few weeks, we’ll start hearing from prospective law students — i.e., 0Ls — who are already reading Above the Law (smart kids!), and who consult us for advice when choosing between law schools (not such smart kids). Last year, for example, we advised students choosing between such fine law schools as Illinois, Vanderbilt, Michigan, Northwestern, Columbia, Chicago, NYU, and Minnesota (with help from you, our readers; we hosted several reader polls pitting the schools against one another).
When I was a college senior choosing between law schools, I did not employ a very sophisticated approach. I simply picked the law school I got into that was highest in the U.S. News law school rankings.
Even though I have no regrets about my law school pick, my decisionmaking process wasn’t very sound. There are real differences between law schools, in terms of their educational programming, their cost to the student, their location (hai Stanford!), and a whole host of other factors.
Today’s story provides an illustration of the phenomenon. Right now, students at one top law school are in a “near riot” — our tipster’s words, not ours — because they feel they’re being denied the education they’re paying so dearly for….
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: