In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.
Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.
Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.
We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?
This coming Friday, it is the inalienable right of all Americans to sleep off their hangovers, or riot at Walmart, or do anything at all rather than work for The Man. But Biglaw is a different country. As illustrated by Elie’s decision matrix, the “choice” of whether to work on this sacred day is, for the denizens of the law firm world, fraught with other pressures and expectations. We all know that Biglaw careers demand a Faustian bargain: in return for their fat paychecks (and bonuses?), lawyers are expected to work grueling, unpredictable hours. This time of year, that reality is brought into sharp relief: the “holiday season,” with those “family obligations” and so forth, is something that occurs elsewhere.
But law firm billable expectations are not homogeneous. There are significant differences across practice areas, seniority levels, and, of course, individual firms. So how do the various practices, employment statuses, and firms stack up?
When we talk about the Biglaw firms with the most good-looking attorneys, the conversation usually ends pretty quickly. Only one firm is known to hoard hotties like they’re going out of style, but word on the street is that another firm may be looking to dethrone the sovereign of sexiness.
Move over, Davis Polk, because you’ve got some competition….
If you aspire to work in Biglaw, it’s likely that you’ve already got a certain air of je ne sais quoi about you. You’re probably a prestige whore who looks down your nose at others whom you deem to be inferior to you. You probably think you’re the sh*t, and you firmly believe that others should think so too. You know people call you a jerk behind your back, but you don’t care because you know they’re just jealous. You are the most special and unique of all snowflakes, and people should be honored to breathe the same air as you.
Congratulations! You’re an arrogant a-hole, and there are many firms that would be glad to have you among their ranks — because according to the latest survey results, they’re filled to the brim with people just like you.
Which Biglaw firms are just as cocky as you are? Luckily, there’s a ranking for that…
If you’ve messed up and managed to get married without an airtight prenup, you’re going to have a messy divorce. Unless you have a fairy tale romance that can never be torn asunder, but statistically you don’t, so you should be planning for divorce. And congratulations to our gay brothers and sisters — with Illinois joining the 21st century this week as the 15th state to legalize same-sex marriage, you too will soon have to begin planning for divorces.
But when you get divorced, who should you hire to represent you? One publication has compiled its list of the 10 divorce lawyers you don’t want across the table from you….
Almost everyone who steps foot inside a law school in pursuit of a degree dreams of someday becoming a powerful voice on the world stage, but only a few are able to see that goal through to fruition. In fact, according to the latest Forbes ranking of the World’s Most Powerful People, only 10 lawyers or law school graduates truly matter.
Each year, Forbes compiles a list of the most influential people on the planet, and this year, out of the 72 leaders chosen (one “power broker” per every 100 million people in the world), about 14 percent of those who made the list are lawyers or law school graduates.
Which legal eagles soared to great heights and made their way onto this year’s list? Let’s find out…
It’s the most wonderful time of the year. Not only is it Halloween, the day when the nation celebrates the patron saint of skanky costumes, but we’ve also got some law school rankings that are all too appropriate given the holiday. Today, we give unto you the GraduatePrograms.com social life rankings, a mystical, magical list that will guide prospective law students in their quest to attend the school where they’ll be surrounded by the least socially awkward classmates for three years of their lives.
GraduatePrograms ranked the top 25 student-rated law schools, as well as the best law schools for career support, financial aid, and quality of network, but we’re focusing on the social life rankings. Why? At this point, it’s a given that you’re going to have some difficulty finding a job and paying down your loans when you graduate. It’s the connections you make during law school that will help you get through the tough times you’ll face later on.
So without any further delay, here are the law schools where you’ll be able to have the best social life — otherwise known as the law schools where you’ll be able to file endless motions to party…
Certain firms are, in my opinion, routinely underrated in the Vault 100 rankings of law firm prestige. One of them is Williams & Connolly, currently #16, which strikes me as a top 10 firm. Another is Munger Tolles & Olson, which is all the way down at #34.
Munger is an amazing firm. Its attorneys work on major matters, including great pro bono cases, and its lawyers boast incredible pedigrees, with more Supreme Court clerks than you can shake a gavel at (wooed by $300,000 signing bonuses). At the same time, MTO gets top scores for diversity. These commitments to diversity and pro bono helped propel Munger to the #1 spot in the American Lawyer’s A-List rankings, which measure overall firm fabulosity (based on revenue per lawyer, pro bono work, attorney diversity, and associate satisfaction).
In light of all this, I’m still wondering why Munger doesn’t fare better in the Vault rankings (for whatever the Vault rankings are worth, and you’re free to argue about that). Perhaps MTO is hurt by its relatively small size and tight geographic focus, with offices in just two cities, Los Angeles and San Francisco. Or perhaps prestige is tied partly to partner profit, and Munger doesn’t hunger enough for money.
How much do MTO partners earn? Financial disclosures for two younger Munger partners, both nominated to the Ninth Circuit, shed a little light on this question….
* Former top Pentagon lawyer Jeh Johnson previously told us he was done with public service, but when the president asks you to join the Cabinet, it’s kind of hard to say no. Plus this Paul Weiss partner is filthy rich, so he can secure our Homeland any day. [Washington Post]
* Earlier this year, Gibson Dunn appointed a seventh-year associate as the firm’s first ever global pro bono director. We wish her the very best of luck as she tries to make lawyers do work for free. That can be a really tough sell in Biglaw. [Am Law Daily]
* Law school rankings existed long before U.S. News was even conceived of, and they broke schools into two lists: those that matter, and those without the “slightest significance.” Sick burn. [National Law Journal]
* Arizona Law alumni really don’t need to worry themselves about the fact that the school’s servers were hacked. Come on, your credit couldn’t be much worse than it already is with all that debt. [KVOA News 4]
* Lady Gaga is nearing settlement with a disgruntled ex-employee, which is too bad, because we were dying to see her get on the stand. The dropping of F-bombs would’ve been fabulous. [New York Post]
* Affirmative action is again being put to the test before the Supreme Court, but this time, we’re not so sure the justices will punt the ball like last time. The countdown to one of Elie’s epic rants on race in America starts in 3, 2, 1… [National Law Journal]
* The U.S. Patent and Trademark Office is open for business, but the government shutdown has pretty much brought work at both the International Trade Commission and the Federal Trade Commission to a complete standstill. May they live to fight patent trolls another day. [Corporate Counsel]
* Good news, everyone! Many Biglaw firms have changed the way they make their real estate and office space decisions, primarily because “maintaining profitability has become very challenging.” [GlobeSt.com]
* Here’s another list of the law schools where you can get the most bang for your buck — except it neglects to mention what percentage of the class responded to these salary questions. Oops! [PolicyMic]
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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: firstname.lastname@example.org.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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