Would you rather be a great lawyer or be perceived as being a great lawyer?
For many people, I think the answer to that question varies over time: At age 30, you’d rather be a great lawyer. At age 60, you’d rather be perceived as being a great lawyer.
Because, over time, your reputation may come to track reality. If you’re perceived as great when you’re 30, but you’re actually no good, that truth may out over time. As you age, your reputation may catch up with you.
By the time you’re 60, your professional horizon will have shortened, and it’s less likely that the world will unearth your incompetence. If you’re perceived as being a great lawyer when you’re 60, you may well make it to retirement unscathed.
What of law firms? Would you rather that your firm be great or be perceived as being great?
* The Magic Circle isn’t very magical across the pond in New York City. Four out of five firms from the U.K. — Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, and Linklaters — have yet to pull rabbits out of their hats in the Big Apple. [Am Law Daily]
* Dewey know how much this failed firm’s old domain name sold for at auction? At the conclusion of the sale, it ended up going for $210,689, which was just a shade over the initial asking price of $200,000. Someone just got ripped off. [Law360 (sub. req.)]
* The judge on this case against Skadden Arps isn’t sure that document review should count as anything other than practicing law, “even if it’s not the most glamorous.” Ahh, the luxurious life of a contract attorney. [Am Law Daily]
* Professor Raymond Ku has filed an amended complaint against Case Western Law Dean Larry Mitchell, and now the allegations are even juicier, including a possible ménage à trois. [Cleveland Plain Dealer]
* The number of people who took the LSAT in October has dropped for the fourth year in a row, this time by 11 percent. “This is a big deal” for law professors interested in keeping their jobs. [National Law Journal]
The idea of “happiness” is the basis of an ever-growing body of research. In fact, while economists traditionally measure a nation’s prosperity by looking at GDP, there is a growing movement for them to consider a different measure, something akin to “Gross National Happiness.” One of the best-known efforts to move away from a reliance on GDP as a measure of national welfare is the UN’s Human Development Index, which amalgamates three metrics: lifespan, educational attainment, and adjusted real income. Then there are dozens of much more subjective surveys of national happiness, many of which find Costa Rica to be the happiest country in the world. Others say it’s Norway. (Then there is this preposterous “Happy Planet Index,” which ranks the U.S. at number 113, between Madagascar and Nigeria.)
Of course happiness research is performed in more narrowly targeted ways, such as examining specific professions. Earlier this year, Forbes reported on a “Career Bliss” survey of 65,000 employees that ranked “law firm associate” as the unhappiest job in America. (See Joe’s take on that survey here.)
Unless you’ve made some deliberate, heroic effort to not know, you are aware that the most feverishly anticipated baby since 0 A.D. is now finally among us. This is a huge deal. People love babies. People love princesses and what not. So: huge deal. Thus, as we await the naming of the boy Windsor and as a flimsy topical pretext, let’s have a look at how the Magic Circle, the UK’s legal royalty, rate in the ATL Insider Survey.
The Magic Circle comprises five venerable London firms: Allen & Overy, Clifford Chance, Freshfields, Linklaters, and the terrifyingly-yet-diffidently named Slaughter and May. Powerhouse “Slaughters” is the only one of this prestigious group lacking a New York office. The other four are among the most truly global firms and are among the top ten firms in the world measured by revenue. S&M is also the only one of the group for which we lack sufficient survey responses to generate ratings based on the ATL Insider Survey. After the jump, see how the others’ New York offices stack up in terms of Compensation, Hours, Training, Firm Morale, and Culture.
* “[L]awyers aren’t trained as accountants,” but Gibson Dunn, Freshfields, Drinker Biddle, and Skadden may have some splainin’ to do when it comes to Hewlett-Packard’s M&A blowout with Autonomy. [WSJ Law Blog]
* Looks like it’s time for some holiday musical chairs: Dorsey & Whitney’s managing partner Marianne Short will be leaving the firm at year’s end to join UnitedHealth as its chief legal officer. [Twin Cities Business]
* The court-ordered mediation between Hostess and the bakers’ union broke down last night. If Judge Drain approves the company’s liquidation plan, the Twinkie may disappear from whence it came. [Reuters]
* You shall not pass — or use Lord of the Rings characters in online gambling games! J.R.R. Tolkien’s estate is suing Warner Brothers for $80M over improper licensing of the late author’s characters. [Bloomberg]
* Please don’t tickle me, Elmo. One week after an accuser recanted his allegations against puppeteer Kevin Clash, another one filed suit over an underage sexual relationship. [Media Decoder / New York Times]
* There’s nothing like some man-on-man sexual harassment to get you going in the morning. Sparks Steak House paid $600K to settle charges lodged by 22 male servers over an eight year period. [Corporate Counsel]
* Seems like this pulchritudinous plaintiff’s contract case is still kicking, and Emel Dilek testified that sleeping with the boss was “absolutely not” one of her roles during her time at Mercedes-Benz. [New York Post]
* Lululemon and Calvin Klein have settled their patent spat over elastic waistbands on yoga pants. Here’s hoping the Canadian yoga-wear company turned this lemon of a lawsuit into lemonade. [Businessweek]
* What do divorcées do in their spare time? They go to Florida’s $350M courthouse to spray paint it with broken hearts and notes for the judge who presided over their proceedings. [Riptide 2.0 / Miami New Times]
The leading firms of the United Kingdom, the so-called Magic Circle firms, have made significant inroads into the U.S. legal market. Over the years, they’ve hired a number of high-profile lawyers away from domestic law firms. They might not have conquered New York to the same degree that they’ve dominated many other markets they’ve entered, but they’ve certainly built up significant outposts here in Gotham.
In today’s notable lateral news, though, we see partners disappearing from one Magic Circle firm and reappearing at… another Magic Circle firm. Who are the lawyers in question, and where are they going?
* Chief Justice John Roberts might “enjoy that he’s being criticized,” but that’s probably because he’ll get the chance to show his true conservative colors this fall when issues like affirmative action and same-sex marriage are before SCOTUS. [Reuters]
* Dewey know why this failed firm thinks a bankruptcy judge is going to allow it to hand out $700K in “morale” bonuses? You better believe that Judge Martin Glenn is going to tell D&L where it can (indicate). [Bankruptcy Beat / Wall Street Journal]
* It seems like attorneys at Freshfields may actually need to get some sleep, because it was the sole Magic Circle firm to report a decline in in revenue and profitability in its latest financial disclosure statements. [Financial Times (reg. req.)]
* Judge Kenneth Lester Jr. didn’t do George Zimmerman any favors when he set his bond at $1M. Watch how quickly the defense fund Zimmerman concealed from the court disappears as he struggles to post bail. [CNN]
* Whatever it takes (to count you as employed): 76% of law schools report that they’ve now changed their curriculum to include more practical skills courses in light of the dismal job market. [National Law Journal]
* Texas Christian University is expanding its graduate programs, but a law school isn’t necessarily in the works, because TCU is only interested in “programs that promote employability.” Well, sh*t, y’all. [TCU 360]
Be careful what you write when you’re young and idealistic.
In 2003, David Wolfe, a lawyer who works alongside Cherie Blair at top London human rights shop Matrix Chambers, decided he was unhappy with the way the British legal hierarchy works. So he co-signed an open letter criticising the Queen’s Counsel (QC) system –- a process that sees a handful of barristers (British trial lawyers) promoted to the elite QC rank each year, enabling them to charge clients more money. “The QC system cannot be justified as being in the public interest or promoting competition,” the letter stated.
Nine years on, and last week Wolfe found himself made up to QC — an honour which, despite the name, involves no input from the Queen or her family members. He didn’t decline. Indeed, all QCs have to actively apply in order to gain the title. Unfortunately for Wolfe, someone mentioned his youthful letter to RollOnFriday, a widely read U.K. legal blog.
When contacted about the letter, Wolfe responded….
“I thought Freshfields [Bruckhaus Deringer] was a supermarket when I got here,” says Kirsty Grant, a fourth-year associate in the London office of Gibson Dunn & Crutcher. Happily, Grant — a fast-learner who got through law school in L.A. while working full-time during the day — quickly figured out that the Anglo-German law firm, a member of the Magic Circle, wasn’t the place to fulfill her grocery needs.
The cultural assimilation enjoyed by the UCLA and Loyola graduate since she arrived in London last March hasn’t stopped there. “At first I couldn’t believe the drinking culture here,” she recalls. “The first Friday after work that I went to the pub, I thought, ‘I haven’t had any food; I can’t do this.’ And then the London lawyers went on until 5 a.m. I just don’t have the liver for it, but it shocks me less now.”
Not that Grant, 33, has oceans of spare cash to splash on boozy nights out. How do her finances as an American abroad compare to those of her Biglaw counterparts back home?
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: email@example.com.
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.