Just a typical lapsed lawyer (J.D., Northwestern ’68)
Lawyers turn into ex-lawyers for a host of reasons. The transition can be voluntary or not. We all know that erstwhile attorneys have successfully gone on to become, among thousands of other things, consultants, teachers, writers, and entrepreneurs. Late last year, in partnership with our friends at Adam Smith Esq., we reached out to lapsed lawyers to ask them their personal stories. Why did they choose the law in the first place? Why did they leave? What are they up to now? Do they regret leaving the practice of law? (A whopping 93% said “no” to that last question.)
We were quite pleased with the level of response to our survey: 430 former (or “recovering”) lawyers shared their stories with us. The tales they told us bring to mind a sort of inversion of Tolstoy’s line about happy and unhappy families. Those who were positive about their time spent practicing had a diverse range of experiences; those who were unhappy mostly tell the same story.
Notwithstanding predictions of impending economic gloom or apocalyptic Mayan prophecies, 2012 brings some sort-of good news for incoming first-year associates: our survey findings show start dates have returned to pre-Recession timelines. We’re apparently (knock wood) past the days of first-years twisting in the wind with deferrals and rescinded offers. On the other hand, a majority of our survey respondents report that the size of the incoming first-year class has contracted significantly, with only 36% of you telling us that class sizes have returned to pre-Recession levels. For the full results of our survey, read on.
Our ongoing ATL School & Firm Insider Survey (take it here!), asks current law students, among other things, “What do you expect to do after you graduate?” A whopping 71% tell us that they expect to work for a firm. (This percentage was consistent across class years.) That this proportion is so high, and so at odds with the NLJ findings, can mean some combination of two things:
The ATL student readership skews heavily toward that minority of students who will actually snag Biglaw gigs.
Many (if not most) expectations of law firm employment will be dashed against the reality of a contracting job market. In other words, a majority of students think they are in the fortunate minority
After the jump, we’ll look at how wide the gap between student expectation and market reality is, even at the “go-to” schools:
Later this year, Above the Law will be launching a new, expanded Career Center. The new Career Center will be a resource for students and lawyers at all stages of their careers, and in all areas of legal practice (i.e., not just Biglaw). But we can be sure that news and insight into life at firms and schools will continue to be ATL’s bread and butter. With that in mind, today we open up the ATL School & Firm Insider Survey.
I assume a common reaction will be, “What with — among others — Vault, Chambers, U.S. News, and Am Law, why the hell do we need yet another employer/school survey?” Fair enough. And yes, all of the existing surveys have their merits. All of them produce useful content for students and potential laterals.
We do believe, however, that when it comes to information, the more the merrier. Moreover, the ATL survey is distinctive in some fundamental ways, and we’re going to justify its existence….
We can’t help but wonder if this bonus season’s dyspepsia is typical of lawyers and law students generally. What with the growing ranks of JDs who are despairing of ever paying off their debt, shouldn’t there be some significant cohort thinking, “phew…not only do I have a job, but now my firm will be forced to match”?
Thanks to all who participated in the Turkey Day survey. I am happy/jealous to report that an overwhelming 93.2% of small-firm respondents are able to take time off for holidays. And 76.6% do not need to do any work from home during the holidays. Half of survey respondents, however, are still required to check email during the holidays.
On Friday, I started the official “damn it, I will hold my breath” bonus watch. I’ve already lost my editorial bet with Lat (I thought they’d come out before Monday), and now I just want them to get it started.
Also on Friday, our new Breaking Media research guru Brian Dalton started running a poll asking you, our readers, when you thought the bonuses would start flowing. It’ll be an interesting test case to rate the predictive power of Biglaw reader groupthink.
The numbers say that you expect bonuses to drop any minute now….
I know what you did this summer –- so thanks for filling out the 2011 Summer Associate Experience Survey. We’ve highlighted a few more of the unique and memorable summer programs in 2011. For more summer associate program information, check out the updated summer associate program sections of the law firm profiles on the Career Center, sponsored by Lateral Link.
Now that 2011 summer programs have officially come to an end at Biglaw firms everywhere, law students are returning to their schools a little less naïve about working in Biglaw, a little bloated from all the free food, and seriously missing their fat summer associate paychecks. But how hard did they have to work, and how well were they fed on the firm’s dime?
Here at the Career Center, we know that summer programs are about much more than numbers and stats. So we surveyed summer associates at the top law firms in the country to find out about all aspects of their summer experience. Based on these survey results, brought to you by Lateral Link, we have completely updated the summer associate program sections of the Career Center’s firm profiles.
As befits the end of any school year, we’re also handing out some summer program superlatives to commemorate the 2011 summer class. Click on the links after the jump to see if the firm you work at, or want to work at, made the cut….
According to the more than 1,000 responses we received to this week’s Career Centersurvey, 65% of respondents took the Fourth of July holiday off to celebrate their freedom or something like that. That’s a huge jump from the 27% of respondents who reported not working on Presidents’ Day, and the 34% of respondents who reported not working on MLK Day.
For the unlucky 35% of respondents who reported working on Independence Day, what were the top reasons given for missing out on the festivities?
54% said that nobody specifically asked them to do work, but they had work they needed to get done.
29% said a partner or associate asked them to do work.
14% said a client asked them to do work.
9% said they needed the hours.
5% said everyone else in their office was working.
5% said that Independence Day is not recognized as an official firm holiday.
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
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.