The results of the annual American Lawyer midlevel associate survey are out, and it looks like people have been taking happy pills. We thought things were going well last year, but this time around, it’s all lollipops and double rainbows for third-, fourth-, and fifth-year associates. According to Am Law, these happy campers gave their firms the highest composite scores the publication had seen in almost 10 years.
These associates have good reason to be happy. They’ve secured and maintained jobs at elite firms while entry-level hiring has been swirling down the drain. Spring bonuses have come and gone, but they’ve managed to stick it out. They’ve seen the rise and fall of Biglaw empires. They’ve seen the worst of the profession’s worst, and still, they’ve survived it all. They have the right to be happy.
Of course, not everyone is as thrilled. For the first time, American Lawyer measured gender differences in question responses, and women are markedly less satisfied with their jobs than their male colleagues. Considering how difficult is is to gain entry to the Biglaw boys’ club, who could blame them?
Enough idle chatter, let’s delve into the details of the survey and discuss the results…
The annual Am Law midlevel associate survey came out yesterday, and for the first time in years, satisfaction among third-, fourth-, and fifth-year associates seems to be up across the board. According to Am Law, this year’s average score across all firms was the highest it’s been since at least 2004.
But, as with all things in Biglaw, their happiness is relative. After all, these are the people who survived the worst of the layoffs, and the lucky few who managed to get a foot in the door during a time of reduced new associate hiring. Above all, these are the people who must be thanking their lucky stars that they weren’t midlevels at Dewey & LeBoeuf. They may have been working extremely hard on cases that were understaffed, but at least they were working.
Last year, my colleague Elie Mystal noted that the midlevels who were whining about their unhappiness were “missing the big picture” — that they’d be making serious bank for the rest of their lives if they remained in Biglaw. Given the results of this year’s survey, perhaps these midlevels have come to that very realization….
If you are a current midlevel associate at a top firm, that means you survived the worst of the Biglaw layoffs. In fact, it probably means you survived while friends and colleagues were having their careers ruined.
That should make you happy, right? Not according to the American Lawyer’s annual midlevel associate survey. The results, released this morning, show that midlevel associates are anything but satisfied with their careers. From the report:
Many people would consider Am Law 200 midlevel associates to be extremely fortunate. While thousands of their colleagues lost jobs, these young lawyers are gainfully employed with salaries in the six figures. The midlevels tell us that they survived the recession in part because of the quality of their work, and that they aren’t worried about losing their jobs going forward. And even though revenue and profits dipped at the majority of their firms, relative to other industries, Big Law wasn’t hit as hard during the recession. In many ways, once their student loans are paid off, midlevel associates’ prospects seem bright.
But that’s not how they see it. Maybe it’s the posttraumatic stress syndrome from watching so many associates and law firm staffers get the ax, but the midlevels who survived the great purge aren’t feeling particularly fortunate. In fact, they seem downright cranky.
Survivor’s guilt? Not bloody likely. The result are probably due to people working harder than they were before the recession for less pay and job security than they had before the recession. Add in the fact that their secretaries have probably been fired (and so the partners now treat them like paralegals), and the fact that they’re more likely to get struck by a bolt of lightning than make partner, and you can see why these people are a little disappointed with the way things have turned out.
I’ll pause now so all the members of the Lost Generation can comment on how they would change places with these disgruntled midlevels faster than one can ask “would you like fries with that”…
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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
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.