This year, seven law firms made Crain’s list, and as we told you back in January, only four made Fortune’s. Three firms are new to Crain’s list, while the other four moved up or down in the rankings. Just two of those firms overlap between Crain’s and Fortune’s lists.
It appears that congratulations and condolences are both in order. So, which law firms are considered the cream of the crop in New York City?
It’s an intriguing question. There are 11 ABA-accredited law schools in New York City and Long Island (I’m including Pace, even though the law school is in White Plains). Personally I love them all. Seriously, any one of them can produce a story about great idiocy that I can make fun of on the internet. That’s all I really care about.
But law students in New York argue over the strengths and weaknesses of their law schools all the time. Or at the very least they often mutter about the idiots across town under their breath.
While some students like to argue that they go to the “best” law school in New York, that’s a less interesting question. And there are so many Yale students running around town (New Haven is only 90 minutes away), so saying you go to the best law school in New York feels a little bit like saying you’re the tallest midget.
It’s a bit douchy to argue over who’s best, but it’s pretty fun to argue over which law school is the worst. Nobody thinks that they go to the absolute worst law school in the city. But that means one student body is dead wrong.
Mayor Michael Bloomberg can have his way with the Occupy Wall Street protesters. According to the Associated Press, Justice Michael Stallman of New York Supreme Court just shot down the Temporary Restraining Order sought by the protesters against Mayor Bloomberg.
November 15th, 2011, there was a riot in the streets, tell me where were you? While you were at home watching your T.V., I was participating in some anarchy.
Well, there wasn’t really a riot in the streets. And I wasn’t really participating in it so much as taking the 5 train to work today. But I did bump into some would-be Occupy Wall Street protesters looking to join the movement after the main group was evicted from Zuccotti Park under the cover of darkness early this morning. The people on the train asked for my legal advice.
I laughed — then told them I could do them one better. Let’s see if we can’t crowdsource a legal recourse for the Occupy protesters now that big bad Bloomberg has put his jackboot on the movement….
There’s an interesting post up on Constitutional Daily by The Philadelphia Lawyer. It’s a repack from a 2007 article arguing that salaries for first-year associates should go up to $190,000 a year.
And he’s right.
I know, I know — most Americans are still feeling the effects of a terrible economy. Occupy Wall Street is about to take pitchforks to those who are well-off in this country. Yada, yada, we’ll get back to the very sad story of America momentarily.
But you know who has done well over the last five years or so? Law firms. Especially Biglaw firms. Especially partners at Biglaw firms. Just look at the Am Law reports on profits per partner and revenue per lawyer. Firms are making money, more than they were in 2007.
Yet the associate salary scale hasn’t seen a raise for almost five years. And bonuses are down compared to 2007. Is it time for firms to start sharing the wealth?
I’m starting to think that staff attorneys are being discriminated against because they are staff attorneys.
Today Thomson Reuters reports that a racial discrimination lawsuit has been filed against Quinn Emanuel by a former staff attorney. The plaintiff, who is African-American, claims that she was given less desirable work than her white colleagues and that she was forced to work with a person she “feared,” as retaliation for complaining about her treatment at the firm.
I’m not sure if racism really fits into Quinn’s work hard/play hard firm culture. I feel like the only color Quinn cares about is green, as in, “You’ve billed a ton of hours today despite being all kinds of hungover, I think you’re turning green”….
The National Association for Law Placement (NALP) has produced an extremely useful chart for people trying to figure out where to start their Biglaw careers. They’ve listed the cities that give you the most bang for your buck if you land a high paying Biglaw job.
The NALP “buying power index” sets New York as the baseline. It takes the median starting salary for the class of 2010 and the NYC cost of living index and sets that figure at 1.00. Cities with a better purchasing power than NYC have a value greater than 1.00.
New York ranks #42.
Most of the high-ranking cities also have the benefit of warmth….
Well, today Ira Schacter is back in the news. He’s accused of refusing to pay for his teen daughter’s $12,000 hearing aids, while dropping $215,000 on a diamond engagement ring for his Playboy-bunny fiancée. If true, that’s pretty shoddy behavior — the very embodiment of cheapness, from a big-time Biglaw partner who can easily afford twelve grand.
But I know what you’re all wondering right now: “How hot is that Playboy-model fiancée?”
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: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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