Last week I had dinner with a friend who used to work at a large law firm and now has a non-legal career. I asked her what, if anything, she missed about life in Biglaw.
“Just one thing: the paycheck,” she said. “I miss being able to go crazy in the shoe department of Bloomingdale’s.”
It’s a common sentiment among people who leave jobs at large law firms (in terms of missing the paycheck; not sure about the shoes). Most people who leave large law firms, with the notable exception of finance folks, end up with lower incomes in their new lines of work. But many refugees of Biglaw report higher job satisfaction, as well as overall happiness.
An article in yesterday’s New York Times touched upon the trade-off between money and job satisfaction — and revealed a “magic number” of sorts, namely, the income level at which additional income does not bring you additional happiness….
The Am Law MidLevel survey, released earlier this week, revealed what many already knew: the people who were able to hang onto their jobs during the recession are really unhappy.
Times are tough for the survivors, and today we have more evidence. An employee in the Dallas office of Sedgwick sent an open letter to the office managing partner, Alan Vickery, and others in management. The letter expresses massive disappointment with what has happened at the firm since the economy went south. It’s a familiar and sad story about those who are “lucky” enough to still have a legal job…
Though there are signs that things are looking up for the legal market next year, the economy remains troubled. This week the recession claimed 18 at intellectual-property boutique Brinks Hofer.
We spoke with firm president Gary Ropski, who confirmed that seven attorneys, one patent agent, and ten staff were laid off this week. [FN1] Most of these layoffs took place in the firm’s main Chicago office. The firm spoke individually with every person let go, and had a firm-wide conference call yesterday to discuss the layoffs.
“It’s the toughest part of my job,” said Ropski. This was less than 5% of the total workforce of the firm, which has 400 employees nationally.
There’s been much talk in the legal sector about problems for IP boutiques as bigger firms encroach on their turf. Earlier this year, IP firm Darby & Darby dissolved. We asked Ropski whether he was worried about the outlook for IP boutiques in today’s economy….
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.
Over the weekend, the New York Times took employers to task for taking advantage of university kids eager to get work experience. Unpaid internships abound, and the recession has made it easier for corporate employers to cry poor, and bring on free labor.
However, there are strict federal guidelines [PDF] around unpaid internships, and many are breaking the law by giving their eager little beavers noneducational menial work. The folks at the Labor Department are on to this devious scheme:
Convinced that many unpaid internships violate minimum wage laws, officials in Oregon, California and other states have begun investigations and fined employers. Last year, M. Patricia Smith, then New York’s labor commissioner, ordered investigations into several firms’ internships. Now, as the federal Labor Department’s top law enforcement official, she and the wage and hour division are stepping up enforcement nationwide.
While most of the abusive internships are in the exciting worlds of fashion, film, media, and music, there was at least one poor NYU student suckered into cleaning out bathrooms for free at a law firm…
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.
The head of our Asia recruiting, Evan Jowers will be in Seoul all next week and available for meetings. Evan was in Hong Kong all last week and was unable to meet with everyone who reached out, due to a completely booked schedule. Apologies for that. He is in Hong Kong monthly and Robert Kinney and Yuliya Vinokurova are often in Hong Kong as well, so feel free to reach out to us at firstname.lastname@example.org to schedule a Hong Kong meeting for later this month or next month, or just a phone call if you prefer.
Kinney has had the privilege of representing and placing a number of Korean background US associates and counsels and one partner in Hong Kong, Tokyo, Shanghai and Singapore over the years. We are now getting more involved in the expanding Seoul market. We are helping two of our law firm clients open up offices in Korea at present and that will be taking up some of Evan’s time, but he will have time also to meet with US, UK and Australia trained associates at international firms and Korean firms who would like to meet Evan or re-establish a connection with him. By all means any of the attorneys in Korea who we have worked with and placed in the past should also feel free to reach out to Evan as well at email@example.com. Having any reason to look for a move in the foreseeable future is never a pre-requisite to setting up a meeting with any of our Kinney Asia team. Most of the folks we meet and establish relations with over the years in Asia are not interested in considering a move at our first meeting (or the next several meetings). We always enjoy a good discussion on the market and an individual’s career plans. Ultimately, over 50% of those attorneys we place in Asia have had such discussions with us for 2 or more years prior. Some of our closest relationships in Asia we may never place because they are doing so well at their firm for years and have no reason to move, and that’s fine by us.
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Additional information can be located on our website, at www.sgtlaw.com.
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