As we recently mentioned, Biglaw is not all about the benjamins. There is so much more to the practice of law than the monetary rewards. Focus on doing the best work you can for your clients and your colleagues, and the money will take care of itself (well, at least most of the time).
Of course, it’s much easier to take a relaxed attitude towards money if you have a good amount of it. It’s easy for well-paidpartners to tell young associates not to worry about money, when the partners enjoy seven-figure paychecks while the associates struggle under six-figure student loans.
If you’re a young lawyer dealing with educational debt, you know that every extra dollar counts. Every dollar earned means you’re one buck closer to liberation from loans.
Which leads us to today’s question: which law firms pay the largest starting salaries to their associates?
LEWW is back, plus one more adorable kid and minus a lot of sleep. Prime wedding season is nearly upon us, but today our task is to get you caught up on some of the nuptial fabulosity that occurred in our absence.
(And by the way, if you missed the NYT’s December feature on the bride and groom who met at their kids’ nursery school and left their spouses to be together — and the whole should-we-celebrate-infidelity uproar that ensued — get your fill here. Good stuff.)
* Hans Bader of CEI is fine with the bar exam — congrats to everyone who just finished, by the way — but wants to ditch the requirement of graduating from law school. After all, “[e]ven students who seldom studied, and reputedly were on drugs, managed to graduate from my alma mater, Harvard Law School.” [DC SCOTUS Examiner]
* For people who profess to hate law school, they sometimes act like they’re still in it: anti-law-school bloggers get caught up in a catfight. [Confessions of a Laid-Off Lawyer]
* A collection of entertaining legal opinions. Chief Judge Alex Kozinski appears multiple times, of course. [Google Scholar Blog]
* Chipotle is delicious — but does it violate the ADA? [Cato @ Liberty]
Have you fallen off the Biglaw bandwagon and can’t get up? Were you lucky enough to hang onto your Biglaw job and are just now realizing that the blessing was actually a horrible curse on your lifestyle? Well, then maybe you’re in the mood to downsize to a midsized law firm, but you just don’t know where to look.
If so, the National Law Journal has you covered. It’s hard to distinguish one midsized law firm from another, but the NLJ has compiled a list of the twenty “hottest” midsized law firms.
Cruciani alleges Budd “completely misrepresented the compensation system at Baron & Budd and the upside that allegedly existed there,” and Budd showed his “greed” when he paid himself a $50 million bonus in December 2005, which was 75 percent of the firm’s bonus pool that year.
Note to partners with a wandering eye: If a firm describes its compensation system as “Hully Gully,” be wary. In addition to misrepresenting the firm’s compensation system, Budd also neglected to tell Cruciani that there was bad blood between him and co-founding partner Fred Baron.
After hearing a host of counterclaims during a six-week trial, the jury sided with Cruciani, and decided the lost income and the impact on his future earnings warranted a $8.8 million award.
According to the Dallas Observer, the local legal community was shocked by the size of the award. Why was it so big?
* The Chicago Tribune takes a close look at the Tribune Company’s bankruptcy bills, and doesn’t like that Sidley Austin has charged $110,000 for photocopies. [Chicago Tribune via Romenesko]
* The lawyer behind the legal discovery that has brought sex abuse in the Catholic Church — and Pope Benedict XVI’s knowledge of it — to light: Jeff Anderson, whose own daughter was molested by a priest turned therapist when she was eight. [Associated Press]
* Florida attorney Gary Dorst had a blast this weekend. Well, almost. [WESH via ABA Journal]
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.