As you may have guessed from reading many of my posts, I am the self-appointed spokeswoman for women in small law firms. I recently read a post on the Careerist about women lawyers and ambition. Vivia Chen cites some sobering statistics from a survey done by More magazine: 43% of women (out of 500 35-60 year-olds surveyed) are less ambitious now than ten years ago; 73% would not apply for their bosses’ jobs (38% of them do not want to because they do not want to deal with the politics, pressure and responsibility); and 92% of women rate job flexibility as their number one career priority.
From this survey, Chen concludes as follows: “If you’re a female lawyer (or aspiring to be), you might be wasting your energy on the wrong endeavor. In fact, if you’re gunning for any high-paying, high-profile job in a male-dominated field, you might as well put the brakes on right now. Not only are your odds of success remote, but you won’t be happy.”
So now what do I say to my small-firm sisters? You are all lazy bums?
Back in June, when we spoke about the latest job data from NALP, it became clear that the class of 2010 — my graduating class — had some of the worst employment outcomes of the last 20 years. We knew this because of the way NALP categorized its data, differentiating between jobs that require and don’t require bar passage, and between full-time and part-time jobs.
But apparently the American Bar Association isn’t interested in helping people understand these outcomes on a school-by-school basis. The ABA doesn’t want you to know how schools fared in finding full-time legal employment for graduates of the class of 2010.
That’s right, the same folks who claimed just two short months ago that “no one could be more focused on the future of our next generation of lawyers than the ABA,” will now be removing those helpful job characteristics from the 2011 Annual Questionnaire….
Week in, and week out, without fail, we write about the state of the legal economy. Sometimes we have good news about employment prospects for law school graduates, but the reality of the situation is that things are probably going to get worse before they get better.
And these days, apparently you can run into career trouble even if you go to a top-tier law school in a major city.
Edwards Angell & Wildman Harrold: A match made in heaven?
What results from the coupling of an angel and a wild man? One might think: angel + wild man = air traffic nightmare.
In the law firm context, however, the result is quite different. Edwards Angell is merging with Wildman Harrold, to form Edwards Wildman Palmer. The merger will take effect on October 1 and “will bring together 650 lawyers across two legacy firms renowned for their deep experience, shared dedication to client service, and highly collaborative cultures,” according to the new firm’s website.
What else do we know about Edwards Wildman Palmer? And what might be motivating this merger?
Yesterday the stock market experienced its biggest drop since 2008. In the wake of the Standard & Poor’s downgrade of U.S. debt on Friday night, the Dow Jones industrial average fell by 5.6 percent and the S&P 500 fell by 6.7 percent. Global markets suffered similarly.
The market decline on Monday was only the latest in a series of slides. As noted yesterday by the New York Times, “[t]he S.& P. 500 is now down 18 percent from its April 29 peak and is nearing official bear market territory, defined as a fall of 20 percent.”
(All in all, it’s pretty depressing stuff. As I tweeted yesterday, “@DavidLat isn’t looking at his #stockmarket holdings today; instead, he’s buying more #Powerball tickets – huge jackpot!”)
What’s frightening about the latest economic turmoil is that it comes on the heels of a brutal recession that the U.S. economy has not yet fully recovered from. In the wake of the aptly named Great Recession, unemployment still exceeds 9 percent, housing markets remain weak, and government policymakers have exhausted many of the tools at their disposal for attempting to revive the economy. Interest rates are basically as low as they can go at this point; fiscal stimulus is a political no-go. What is to be done?
The steep stock market declines raise a question: Are we entering another recession — i.e., the second dip of a double-dip recession? If so, what does that mean for law firms and lawyers? (We’ve already noted the implications for the IPO market — and the lawyers who work in it.)
This summer is not as thrilling for law students as summers past. Firms have tightened their belts, and the law students lucky enough to snag one of the few summer associate positions out there are not getting the royal treatment. Or they are, but now the royal treatment is defined as allowing summers to order anything they want off the McDonald’s Dollar Menu (“All the McChickens and baked apple pies you can eat, 3Ls! But get it to go. There’s work to be done.”).
The programs themselves, with trips abroad and lavish entertaining, could seem more like summer enrichment for precocious college students than real employment. But as a general rule, that sort of treatment is a thing of the past.
More typical is the summer program at the Wilmington office of Skadden, Arps, Slate, Meagher & Flom L.L.P., where Temple second-year Nick Mozal is spending his summer in corporate law. Mozal said there has been some entertaining, but the big event so far has been a night at a Phillies game.
Well, it is Wilmington. Are there better options than that?
But even in much more glamorous Philadelphia, the summer experience is lackluster:
James Lawlor, a Reed Smith partner who recruits and hires summer associates, said the firm has been doing less entertaining of summer associates, and when it does, it is more likely to schedule events at the firm’s Center City offices rather than at costly restaurants.
“We took away some of the bells and whistles,” Lawlor said.
Not all firms have silenced their bells and thrown out their whistles, though. After the jump, check out this year’s contenders for best summer associate event. And vote for the firm that should take home the shorter and smaller prize…
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 six years. You can reach them by email: firstname.lastname@example.org.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If you think most legal technology misses the mark, LexisNexis Firm Manager® wants to change your mind. Read more about it here.
Built with input from hundreds of solo and small-firm attorneys across the country, it’s made for practitioners who’d rather build the firm of their dreams than deal with the hassles of running a business.
· Go Mobile, Stay Connected.
See all your firm’s information, wherever you are, on whatever device you’re using. Access and update client files, enter billing, search & share documents and more. It’s just like you’re in the office, only you’re not.
When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!