Whether you’ve been out of school one year or five, the art of time maintenance is one you shouldn’t ignore. Just like the balance between your personal and professional life should be important to you, you should also work to keep your law firm schedule and work habits as balanced as possible.
Following the pace of a law firm, its partners, and its clients as a former law student might be difficult at first, but time will show you what you’re made of, as hard work and perseverance pays off if you want to make it in the world of Biglaw….
This week, Lateral Link Director Tricia McGrath shares the inside scoop on what fifth years need to do to make sure they stay on track to become partner, and avoid the pitfalls that come with being passed over continually.
Law firm economics changed substantially over the past decade. Law firms now run like “businesses,” in corporate America parlance. In the last few years, many associates at top firms who thought that they were “on track” for partnership were unexpectedly passed over. Unfortunately, market conditions suggest that many more will be passed over in future years.
As a recruiter, I frequently speak with senior associates who were on the wrong side of partnership decisions, and as a result, realized the “out” side of the firm’s “up-and-out” policy. Many of these overlooked associates are now wondering how the train went off the track so quickly. Don’t the years of solid billables and strong reviews account for anything? For most of these associates, their best-case scenarios are a new position at another Biglaw firm with a three-year partner look — often going in to their new firm as a fifth or sixth year — or an in-house position at significantly less compensation (in most cases). Often, neither of these options is particularly attractive for the candidate.
How can you protect yourself from becoming a senior associate who has been passed over, has no business, and has limited job prospects?
This week, Lateral Link Director Scott Hodes gives us some insight into the increase in lateral hirings in the Empire State of the South.
Atlanta has emerged as one of the best lateral associate markets in the country. While 2009 was slow as in most markets, 2010 signaled a comeback, and 2011 confirmed the upward trend.
Corporate and litigation positions represented the largest amount of lateral openings, which is fairly typical in large markets. Corporate positions seemed to peak in the second and third quarters, while litigation was fairly steady throughout the year. There was also a huge boom in intellectual property positions, especially in the last three quarters, followed not too far behind by labor and employment, which remained steady throughout 2011….
As mentioned previously, these State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.
The strongest market in Texas is Houston, with some of the strongest candidates being those with corporate, capital markets, or finance experience. A close second is Dallas, and a distant third in terms of strong markets in the Lone Star State is Austin….
As mentioned previously, the next few State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.
The strongest market in Texas is Houston, with some of the strongest candidates being those with corporate, capital markets, or finance experience. A close second is Dallas, which is also the focus of this post….
The next few State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.
In general, lateral hiring activity in Texas has increased substantially in the past 12 months, with even greater momentum as we head into 2012. Corporate/securities and IP are the busiest major practice areas across the state; however, there are differences between the Dallas, Houston and Austin markets. Overall, the Houston market is the strongest, followed by Dallas, with Austin a distant third. In all markets, partners with solid books of portable business are viable and firms are always on the hunt for new partner-level talent….
Last week, we discussed the end of the legal recession, and we made some predictions about 2012. Many of you were interested in more information on your specific market, so today, we’re launching a new Career Center series: “State of the Market.”
Over the coming weeks, we will discuss hiring prospects in major legal markets based on analysis by Lateral Link‘s recruiting team.
We start with our nation’s capitol, Washington, D.C….
Before you make the jump to go in-house, remember that each in-house opportunity is unique and will present different advantages and challenges. As a former in-house attorney who worked for a well-respected investment management company for almost six years, Lateral Link Director Gloria Cannon believes there are several things you should consider in evaluating each in-house opportunity.
They revolve around three primary topics: job responsibilities/duties, compensation, and lifestyle….
Eat healthy, workout, stop procrastinating, learn Spanish — it’s 2012 and time to make your New Year’s resolutions. One big resolution you should add to your list is to improve your legal career. Lucky for you, the recruiting professionals at Lateral Link have written articles that will help you with your career resolutions.
If you are clueless about your career goals and lack direction at work, you are not alone. For most, life at a Biglaw firm is not panning out as expected. There are ridiculous deadlines, inconsiderate co-workers, useless politicking, and no clear path towards professional nirvana. With the start of the new year, now is the time to define your career plan and outline your professional goals….
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 holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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: email@example.com.
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.
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