Woo, Biglaw! Being a summer associate is the best!
Summer associate class sizes may be smaller than they were back in the good old days, but Biglaw firms seem to have used the shrinking summer pool as an excuse to throw events that were overflowing with an abundance of awesomeness. Offers are still being tossed out like Mardi Gras beads, and life was very, very good for this summer’s crop of Biglaw initiates.
But just how good are we talking here? We think the fact that we received an overwhelming number of nominations for this year’s summer associate event contest speaks volumes. We managed to whittle down the list of 20+ gushing nominations we received to just eight of the most amazing. Some were cultural extravaganzas, others were athletic outings, but all were fun and absolutely fabulous. Thanks to everyone who submitted a nomination.
Did your firm make the cut this year? Take a look to find out…
On our recent post about bonuses at Bingham McCutchen, some commenters complained about our coverage of the firm. Here’s what one said: “What this article fails to mention is that NO ONE made their hours, it’s THAT slow. Good job, ATL, for eating whatever it is Bingham pays you to NOT report [on bad goings-on at the firm].”
Actually, we’re perfectly willing to report on negative developments at Bingham (or any other major law firm). Just email us or text us (646-820-8477), and we’ll investigate.
There’s certainly a lot to cover over at Bingham: tumbling profits, partner departures, and unfortunately timed staff layoffs. We’ve collected some reporting from around the web, which we’ve combined with inside information from ATL tipsters at the firm. Let’s have a look, shall we?
Hot on the heels of the layoffs at Fried Frank, we’ve got the details on yet another Biglaw firm that’s tightening its belt. Perhaps Fried Frank’s layoffs can be excused by the fact that its profits per partner dropped by 16.8 percent year over year, according to the latest Am Law 100 rankings. The latest firm has no such excuse — its profits per partner increased by 7.8 percent from 2011 to 2012.
But apparently that increase was a little too modest, because the firm is now opting to kick its older employees to the curb in favor of the latest technological advances (just like every other firm).
Which one is offering voluntary buyouts to its employees in order to welcome our new computer overlords?
When the merger of Edwards Angell and Wildman Harrold was announced back in August 2011, some observers, such as our beloved commenters here at Above the Law, viewed the move as an act of desperation. Because both firms had a tough time during the recession, the notion of their combining with each other reminded some people of… well, this.
Now, as we approach the two-year anniversary of the merger’s announcement, how are things going over at Edwards Wildman? Are Angells flapping their wings with joy and Wildmen hoisting glasses of grog?
When it comes to the employee benefit known as “tax equalization for same-sex health benefits” (aka the “gay gross-up”), maybe the pertinent question should be which firms don’t offer it. Since our recent write-up, we’ve heard about more leading law firms that offer this perk, taking the total number of firms that have it to more than 40. (The new firms are mentioned below.)
So let’s move on to the next front, which we also alluded to in our prior post: adoption and surrogacy-related benefits. They’re not nearly as common as tax equalization for same-sex health benefits, but a handful of firms appear to offer them.
Let’s find out which ones, shall we?
UPDATE (2/8/2013, 1:00 AM): A noteworthy update about the legal status of surrogacy, after the jump.
We hope you’ve enjoyed following the Career Center’s Top Partners series through which we’ve recognized Biglaw partners from around the country who exemplify what it means to be an exceptional partner who associates are actually happy to work for. Thanks to all the readers who took the time to submit such glowing nominations and give some well-deserved recognition to the 60 partners highlighted in this series.
Being a summer associate isn't a day at the beach, but it's still pretty awesome.
A summer associate program at a top law firm is like sex or pizza: even when it’s bad, it’s still pretty good.
That seems to be the conclusion of the American Lawyer’s 2011 summer associate survey. Am Law polled 3,656 students at 138 law firms about their summer experiences and used the results to rank 108 summer programs. The lowest-ranked program — that of Chadbourne & Parke, in case you’re wondering — still emerged with a healthy overall satisfaction score of 4.142 (on a 5.0 scale).
If you’re a law student trying to figure out where to spend your summer, you’re probably asking: Which law firms came out with the highest scores?
Since our initial call for information about summer associate offer rates at major law firms, a number of people have contacted us with reports. As it turns out, there’s a lot of good news floating around out there for summer associates.
This leads us to two conclusions:
Biglaw firms only brought in people they could actually hire.
You class of 2011 people are some boring individuals.
Honestly, listening to your summer stories is like looking at the Facebook photos of a Mormon school group’s vacation to Amish country. We know that people are worried about getting offers in this tough market, but the risk-aversion of the summers this year borders on cowardice.
Live a little, have a drink, ask her for her number. It’s a job interview, not an audience with the Pope.
In any event, 100% offer rates abound. Let’s round them up….
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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: firstname.lastname@example.org.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
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.