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….
And just like that, it’s December. Flurries fill the sky, Wham’s “Last Christmas” saturates the airwaves, and the list of weddings in the New York Times shortens dramatically. Quality tends to decline along with quantity, but we’ve been pleasantly surprised to find plenty of comment-worthy nuptials (and attractive brides!) over the past couple of weeks.
Here are the three weddings that most caught caught our eye:
Hey, have you read Above the Law for like one single minute in the past month? If so, you probably know that we’re having this big blogger conference on March 14th at the Yale Club. Yeah, the Yale Club. You’ll be able to recognize me: I’ll be the only big… blogger guy surreptitiously holding a can of crimson spray-paint.
Speaking of coming, you should come. We’ve got CLE and all that. Click here to buy tickets to get CLE credit for listening to bloggers scream about stuff on the internet.
To refresh your memory, details on the panel that I’m moderating — almost entirely sober, mind you — follow.
My panel is called Blogs as Agents of Change, and we’re going to talk about whether all of these spilled pixels are actually making a difference. You know my view… just ask Lawrence Mitchell, but here are the panelists:
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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