If you work in Biglaw, there is a very good chance that you represent at least a few publicly traded companies. For these companies, and their employees, thinking about business performance is usually framed temporally in quarters — as in “it was a great quarter” or “we need to close out this case by the end of the quarter.” Of course, investors and the public are kept apprised of company performance through quarterly reports as well.
I must confess that this time increment, the “quarter,” took some adjusting to. In fact, until I joined Biglaw, and worked on a case for a publicly-traded client, I had never used the term in a temporal context. By now, after over a decade of working with publicly traded corporations and their employees, corporate-speak such as references to quarters has become much more familiar to me. And while I would never ask my kids what their expectations are for school performance this quarter, I see definite value in measuring professional performance along that time frame….
Ed. note: This is the fourth installment in a new series of posts from the ATL Career Center’s team of expert contributors. Today, we have some great advice for newly minted attorneys from Joshua Stein, the principal of Joshua Stein PLLC, a prominent commercial real estate law practice in Manhattan.
It’s your first year as a new lawyer. What do you need to know? How can you not screw it up? Here are some suggestions, based on more than 30 years of experience — as an associate at two firms, then a brief time as an associate at a third firm, followed by 20+ years as a partner at that third firm. These suggestions reflect my own experiences, lessons learned along the way, and what I’ve seen and heard from others. Nothing here applies specifically or uniquely to any firm where I worked.
It’s a Business. As much as we might all want law firms to be kind and gentle, remember that client demands are not kind and gentle. Also remember that a firm’s profitability — the ultimate main event — depends on buying a lot of legal expertise wholesale, converting it into as many hours of billable legal work as possible, then selling those hours at retail. That isn’t going to go away. Get used to it. That’s the business you’re in. If you don’t want to be in it, go find some other business to be in.
Do law firms set performance objectives for their lawyers?
I worked at two different lawfirms over the course of 25 years, and I remember only one meeting where anyone sat down and talked with me about setting performance objectives. We set the objectives; no one ever followed up to see whether I’d achieved them; and the rest was silence.
Perhaps some firms regularly set performance objectives for lawyers, but that was nothing I’d experienced before I moved in-house.
Many corporate law departments set performance objectives for in-house lawyers, and many people do this poorly. “Setting objectives” is viewed as an annual chore inflicted on the supervisor that he cannot ignore; the computer system keeps nagging him about it and ratting him out to others up the ranks. The supervisor finally relents and types a few objectives into the system: “Meet budget. Work closely with business units. Negotiate alternative fee agreements.”
Now that’s out of your hair, and no one will bother you until next year.
Well, last Friday was interesting. When I decided to close the comments for last week’s installment of Moonlighting, Lat responded, “I’m glad at least someone is willing to try deactivation.” As expected, undeterred from the fact that they couldn’t comment directly on my post, the usual group of ATL commenters uniformly hijacked Kashmir Hill’s “revenge porn” post which followed mine on ATL to provide me with their usual thoughtful and highly encouraging feedback.
Later, an anonymous 2L tweeted as follows: And @susanmoon has the dubious distinction of being the first @atlblog writer to close off comments. When I joked to the 2L that my feelings get hurt every week, the 2L (taking me seriously, I presume) told me that instead of hiding, I should “rise above it” because even a SCOTUS justice would get flamed on ATL. This invited Brian Tannebaum (an ATL small-firm columnist) and some others to rush to my defense. What ensued was a flurry of debate on Twitter — infused with an abundance of insults — mainly between Brian and the 2L. I’m actually not quite sure why Brian got so involved, as I’m not even sure he likes me (that’s the real reason I cry every week). I think he just likes to pick on poor souls every once in a while (read: several times a day) for his own sadistic pleasure.
In any case, in addition to the entertainment value that the Brian v. 2L debates offered on Twitterverse Legal last weekend, there were definitely some interesting points made on both sides about the value of anonymous feedback….
Here’s proof that I view my readers at ATL as family: In this post, I’m going to share with you the results of my recently concluded 360-degree performance review and tell you how I plan to improve my personal job performance. (That may not be quite as sexy as pictures of naked judges, but you must admit that I’m making terribly personal information awfully public.)
I’d never been through a 360-degree review before. As part of the process, I completed a self-evaluation, so we could see whether my self-perception matched how the world perceives me. In addition to my self-rating, I received anonymous feedback from (1) the person to whom I report (who was classified as a “peer,” so that his responses would remain anonymous), (2) five other “peers,” or people who hold jobs equivalent to mine in the company and who work with me occasionally, and (3) seven “direct reports,” or folks who report up to me through the ranks. The human resources guy who discussed the review with me did a very nice job; he knows a fair amount about performance evaluations. (Aon is not just the world’s leading provider of insurance and reinsurance brokerage, but also the leading provider of human capital consulting. This means that (1) at long last, Aon finally just got some free publicity out of my having written this column for almost a year, and (2) we have many colleagues at Aon who do human resources consulting for a living, so they’re slightly better at delivering the results of reviews than the kid down the block or the head of your practice group at your law firm.)
What did I learn from the results of my 360-degree review?
The firm is not calling these cuts “layoffs.” Instead, the firm is finishing up semi-annual performance reviews and making cuts along those lines. The firm provided ATL with this statement:
Dewey & LeBoeuf maintains a semi-annual performance review process and we are currently in our year-end cycle. We do not comment on the specific outcomes of our performance review process or individual review conversations.
Some explanation about the Dewey & LeBoeuf review system, plus thoughts from tipsters, after the jump.
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.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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.