The average high temperature for Houston in July is a scorching 94 degrees. It’s one hot legal market.
Figuratively as well as literally. Back in April, for example, we talked about Kirkland & Ellis opening a Houston office — and prying away partners with $5 million pay packages. You don’t need to be a high-powered partner to get in on the fun; even junior to midlevel associates are getting offered signing bonuses when they lateral.
And this hot market is only getting hotter. Who’s the latest major law firm to land in Space City?
Is there any case so awful that it compares favorably to nearly 20 years of warfare?
No. No, there really isn’t.
So when Quinn Emanuel’s John Quinn was quoted calling the Apple v. Samsung brouhaha “Apple’s Vietnam,” it ruffled a few feathers from the sort of people who still remember the Vietnam War as more than an inconvenience.
I love the smell of IP litigation in the morning! Smells like, victory….
After hearing rumors of no mid-year bonuses at QE, we reached out to the firm for comment. Founding partner John Quinn confirmed the reports, correctly noting that the market has not paid spring or summer bonuses this year.
John Quinn also denied various other rumors about Quinn Emanuel, to which we now turn….
Partners: Alright you associates, ready to get happy about bonuses?
Quinn Associate: I’d say we are.
Cravath Associate: Yeah, let’s sing it now!
Partners: Okay, Kirkland?
Kirkland Associate: Okay!
Partners: Okay, Cravath?
Cravath Associate: Okay!
Partners: Okay Quinn? … Quinn? … QUINN EMANUEL!!!
Quinn Associate: OKAY!!
Yes, the Chipmunk Christmas Song is the perfect holiday analogy for Biglaw bonus season this year. And not just because Biglaw associates do work that talking chipmunks could accomplish [zing]. I’m looking at associate reactions from all these firms, and it just seems like expectations are playing a much larger role than the actual dollar amounts.
And then you have Quinn associates, playing Alvin, the diva. Their bonuses came out just before Christmas, and they seem really angry about this situation. Even though most of them are making more than Cravath.
As some of you may have noticed, I spent yesterday in the San Jose Federal Courthouse, watching (and furiously tweeting) the Apple v. Samsung trial. The trial is on recess today, and I’m back in my blogger cagebedroom office. I’ve got a rundown of all the excitement, awkwardness and humiliation that can only happen in a highly publicized celebrity murder, err, patent trial.
Click through to see what’s shaking as the trial progresses….
Last time we checked in at the Apple v. Samsung intellectual property trial, John Quinn was responding to heat from Judge Lucy Koh over allegations that he had authorized a press release with information that had been deemed inadmissible.
The case continued on Friday, and it has started back up again today as well. So, how did Judge Koh react to Quinn’s justification of his decision? And what dirt have the two tech giants continued slinging at each other? Well, let’s see….
Man, I really wish I could sit in the gallery at the Apple v. Samsungtrial over the next few weeks. It’s a war zone down in San Jose. In court yesterday, Judge Lucy Koh became “livid” when she found out about a Samsung statement describing evidence that had been ruled inadmissible by the court. She demanded to know John Quinn’s involvement in the statement (Quinn Emanuel represents Samsung), and then she threatened to sanction him. Whoa.
Quinn was ordered to explain himself, and we’ve got the declaration he filed this morning. It’s a doozy, and predictably, the master litigator does not take kindly to, in his words, “media reports… falsely impugning me personally”…
Two weeks ago, we talked about how hard Quinn Emanuel associates are working. Now we get to talk about how well Quinn Emanuel associates get paid.
In its year-end bonus memo, issued this past December, Quinn Emanuel said the following:
We know some firms have indicated they will pay additional bonuses this Spring. While we are not announcing any specific level of Spring bonuses now, we will certainly match any bonuses that other competitive firms may offer.
Obtaining a summer associate position at a major law firm remains difficult. That’s the upshot of a recent report (PDF) issued by our friends at NALP. You can read summaries of the report at the NALP website and at the ABA Journal. This quip, by NALP executive director Jim Leipold, pretty much says it all: “This is not a hot recruiting market.”
Given that employers are still in the driver’s seat, at least when it comes to entry-level recruiting — recruiting of lateral lawyers, whether associates or partners, is a different kettle of fish — you’d think that law firms would use this opportunity to experiment a bit with fall recruiting. There are some interesting alternatives out there to the standard model of 20- to 30-minute screening interviews, typically held in the summer before or early fall of the 2L year, followed by callback interviews at the firms. E.g., JD Match (disclosure: a past ATL advertiser).
But law firms, as we know, are a conservative group. They tend to stick with existing models, even if those models are imperfect.
Well, most law firms. Nobody ever accused Quinn Emanuel of not daring to be different….
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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