The Courtship Connection has been on hiatus since the infamous night of the melon-baller. We are back with a vengeance now. We’re doing a last sweep of D.C.’s single lawyers and then moving on to a new town. We’ll let you vote on which lucky city and its lawyers get to be subjected to my questionable matchmaking attempts.
First, we need candidates. Send suggestions for the next Courtship city to [email protected]. We’ll then let you vote. Don’t worry: Miami, L.A., San Francisco, Chicago and Dallas are already on the candidate list.
Now on to news of our latest victims match. I brought a previous candidate off the bench for this one, as I’m short on men (and lesbians — D.C.’s problem is that it has too many single ladies, and not enough of them like the other single ladies). Do you remember the guy who refused to get lost in his date’s brown eyes? Sex-starved but with high standards for chemistry. He agreed to go out on another blind date, but had a request: he wanted his match to be from the T14, even though he is not a grad of the upper echelon of law schools himself. I granted his wish.
Was prestige all that was needed to set his loins afire?
This is what you see in the law firm world. Law firms try to keep up with Cravath, but it might not be financially prudent. You try to keep up with Cravath, and then two or three years later you go bankrupt.
Consider the evidence, from the website of Cravath. We’re guessing this change was made a while ago, perhaps when Cravath overhauled its home page last June, but we didn’t notice it until a Cravath alum pointed it out to us just now.
The U.S. News law school rankings for 2012 are here, y’all. Time to pay tribute to that which is more important to legal educators in this country than anything else.
As is customary here at Above the Law, we will be posting a series of open threads, running through at least the top 100 law schools. These open threads offer you a chance to compare and contrast different schools, praise (or condemn) your alma mater, and talk trash about rival law schools.
We’re not sure what we’ll do with the formerly “tier 3″ schools that have now been graced with numerical rankings by U.S. News. And we have no clue how we’ll handle the formerly “tier 4″ schools, which are now being classified as “tier 2″ schools — but I’ll be a monkey’s uncle before I quietly accept U.S. News’s misleading attempt to recharacterize these schools as “second tier”….
Santa Claus — aka Bob Morse, rankings czar at U.S. News & World Report — is letting us open our presents early (or at least before midnight). The U.S. News law school rankings were supposed to come out on Tuesday, March 15, but Morse and his colleagues at U.S. News kindly posted them sometime around 10 p.m. Eastern time tonight. Yay!
(You’ll recall the same thing happened last year, too. The rankings were supposed to come out on April 15, 2010, but they were made available online by April 14 at 10:30 p.m., when we wrote about them.)
Now, on to the latest rankings — technically the 2012 law school rankings, but “ranked in 2011,” as noted on the U.S. News website.
We’ll start at the top, with a look at the top 14, or so-called “T14,” law schools. For the first time in ages, there’s a newcomer among their ranks. Guess who?
One of my favorite law firm names is Freshfields — Freshfields Bruckhaus Deringer, to be precise, but I prefer Freshfields. It makes me think of rolling green hills, crisp laundered linens, or a dairy, producing the creamiest milk in all the land.
As it turns out, Freshfields is a law firm — a top international law firm, a member of the elite Magic Circle. And this Freshfields is rolling out the green, doling out crisp bills, and ladling out the cream — to its associates. As reported earlier today by Am Law Daily, yesterday Freshfields announced spring bonuses, on the top-of-the-market Cravath scale.
Freshfields isn’t alone. This afternoon, Cadwalader, which was publicly toying with the idea of spring bonuses, announced that it too would pay them, again on the Cravath scale.
These two moves are significant — far more significant than the earlier spring bonus announcements….
Everybody loves law school rankings, but these are special. These rankings are not based on a formula developed in secret by statisticians or prestige gurus. These rankings are put together by you. By us. By the mass of humanity that makes up the general mob. These rankings are crowdsourced.
The Conglomerate is putting together rankings based on what we think. But they’re not going with a straight popular vote. Instead, they’ve got a brilliant set up where they ask you to make a series of comparisons. Which law school do you think is better: SMU or Maryland? The rankings are based on answers to almost 200 questions like that.
I only answered 20 questions, but I’ll do the rest as soon as I get a free moment. It’s fun. Widener or Arkansas? Connecticut or Hastings? Screw what U.S. News thinks, what do you think?
I don’t know how I missed this last week, but a study reported in the WSJ Law Blog claims that law school prestige is overrated. Significantly overrated. The ABA Journal — which picked up the story this morning — summarizes the work of a professor from UCLA and a professor from Brooklyn Law:
[UCLA law professor Richard Sander and Brooklyn Law School visiting professor Jane Yakowitz] studied data from more than 40 public law schools across the country, and found that applicants tend to go to the most elite law school that will have them. But is that a good idea?
Not according to data collected in the American Bar Foundation’s After the JD study of lawyers who entered the bar in 2000, they write. It indicates that the salary boost for achieving high grades more than makes up for the salary depreciation associated with attending a lower‐ranked school. The study also found that lawyers who left law school with the lowest grades felt the least secure about their jobs.
I’m sorry, did anybody’s worldview just get blown up?
We’re rolling through the Vault 2011 list of the “prestigiest” firms in the land, so that you can comment on what it’s like to actually live, work, and breathe those firms (when you’re not choking on all the prestige in the air).
We’ve covered #1-10 and #11-20. Here’s the next round-up. Now it’s time for the London-based Magic Circle firms to join in the elite fun:
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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, 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.