1. It’s all meant in good fun. Don’t send me nasty emails if you don’t agree with something I write.
2. Read Rule #1 again.
A little background for those of you who don’t know. Lexpert has a methodology for divining the best law firms and lawyers by practice areas. I have no idea what the methodology is and I don’t care. I think all ranking methodologies are next to useless. What is important is once you declare you’re going to rank something, and put those rankings into a glossy magazine, people (lawyers and clients) put some stock into them. Lexpert could use a Capuchin monkey to pick names out of a hat and a lawyer would still brag to her mom if she was named one of Lexpert’s leading attorneys.
Lexpert has four categories: Most Frequently Recommended, Consistently Recommended, Repeatedly Recommended, and Everybody Else. Okay, it doesn’t use Everybody Else, but you get the drift. You’re either in one of the Recommended categories, or you’re on the outside looking in…
Many people enter the legal profession with the expectation that the public will see them as members of a noble trade to be revered and admired. Unfortunately, that’s simply not the case at all. For every would-be Atticus Finch, there exists an off-color lawyer joke. If you’d call 5,000 dead lawyers at the bottom of the ocean “a good start,” then you’re not alone.
According to a new study, although lawyers are viewed by the public as part of an “envied” profession, no one really likes them. Sure, lawyers may gain a scant amount of respect from some, but when you’re viewed generally as heartless bastards, no one will trust you…
Being a lawyer is time-consuming. First, you’ll have to subject yourself to spending three years in law school cramming knowledge into your brain. After you graduate, you’ll spend an inordinate amount of time trying to pass the bar exam and find a job. (If you’re incredibly lucky, you’ll have a job waiting for you at a Biglaw firm.) Last, but not least, once you’re working as an attorney, you’ll get to spend the vast majority of your waking hours at your desk.
Most practicing lawyers are lucky if they see sunlight, let alone have any semblance of what could be called a social life. There just aren’t enough hours in the day to accomplish all of the tasks that need to be done. That’s why being a lawyer landed on the latest ranking of careers that could have disastrous effects on your social life.
How high did lawyer rank on the “No Life Careers” list? Keep reading to find out…
Corporate Counsel just released its annual list of the law firms that Fortune 500 companies utilize as outside counsel (as noted in Morning Docket). Not surprisingly, the nation’s biggest corporations turn to some of the biggest names in Biglaw for legal services.
But as we noted last year, the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one….
When we covered the American Lawyer’s annual summer associate satisfaction survey last year, we noted that “[b]eing a summer associate just isn’t what it used to be.” All work and no play may make summer associates dull boys and girls, but it also makes them highly confident they’ll receive offers of full-time employment when their programs end.
Despite the fact that it’s a “buyer’s market for law firms,” many of them tossed out offers to their summer classes like Mardi Gras beads. Summer associates were no longer praying for offers, as they were in certain years past; no, this summer, they almost expected offers to be handed to them.
These were the conclusions drawn from the American Lawyer’s 2014 Summer Associate Survey. Am Law polled 5,085 law students at the nation’s largest firms about their summer experiences and used the results to rank 96 programs. This year’s crop of would-be lawyers was seemingly at ease about their situations, despite the fact that there is still a general unease permeating through Biglaw.
This summer’s overall rankings were overwhelmingly positive. If you’re a law student trying to figure out where to spend your summer, you’re probably asking: which law firms came out with the highest scores?
She doesn’t needed to be educated about rap music.
* “Operas can get pretty gory. I should have put that in my brief.” In the upcoming Supreme Court term, it looks like law clerks will have to educate their justices about the intricacies of rap music’s sometimes violent lyrics. [National Law Journal]
* The pay gap between equity and non-equity Biglaw partners is growing wider and wider. According to recent survey, on average, equity partners are bringing home $633K more than non-equity partners each year. [Am Law Daily]
* Hackers are targeting Biglaw firms to acquire their clients’ important secrets. Unfortunately, no one is brave enough to step up to the plate and say their firm’s been hit — admitting that “could be an extinction-level event.” [Tribune-Review]
* Which Biglaw firms had the most satisfied summer associates this year? There was a big rankings shake-up at the top of the list this time around, and we’ll have more on this later today. [Am Law Daily]
* In the wake of the Ray Rice scandal, Adrian Peterson screwed up many of your fantasy football teams after he was indicted for hurting his child “with criminal negligence.” He’s now out on $15,000 bail. [CNN]
Let’s give a round of applause to these great firms.
Earlier this week, the American Lawyer released the results of its annual survey of Biglaw midlevel associates (third-, fourth-, and fifth-year associates at large law firms). We’ll start with the good news: midlevels seem to be quite happy. The average composite score for satisfaction hit 4.08 — the highest in a decade, and higher even than last year’s healthy figure.
But just like last year, which revealed a significant gender gap in terms of job satisfaction, this year’s rosy news comes with caveats. The latest survey shows, for example, that women, African-American, and LGBT lawyers are less satisfied than their non-minority counterparts in terms of measures like training, fairness of evaluations, and partnership prospects.
Now let’s move on to the juicy stuff: the firms with the happiest — and unhappiest — associates. Plus a new ranking from Am Law, focusing on which law schools best prepared their students for Biglaw life….
Just as the Egyptians marked the passage of time by the flooding of the Nile Delta, Above the Law can mark time by the release of the annual law school rankings by U.S. News. Or, more precisely, to the deluge of “get off my lawn” complaints from crusty old deans complaining that the rankings are useless and should be entirely ignored. Unless their school made a significant leap. Culling the public statements of these “butthurt deans” is such a joyous task we’ve labeled it a parade.
They proclaim that the rankings are “not accurate” and unreliable because they constantly shift and that students can receive an excellent education regardless of a dismal ranking. Every time a law school drops, a Communications grad toiling in an administrative office gets his wings.
Some people work really hard explaining how no ranking of this kind could have any value. After all, no one gets as worked up about the rankings for undergraduate institutions. Or B-schools, or even med schools. Isn’t that proof that all these rankings are arbitrary?
Well, it turns out you really, really, should be paying attention to law school rankings, and here’s the evidence to prove it….
* President Obama suggested he may be able to nominate a new SCOTUS justice before he leaves office in 2017. When reached for comment, Justice Ginsburg noted: “Bitch, please.” [POLITICO]
* Chief Justice John Roberts has been asked to stay the Fourth Circuit’s decision as to Virginia’s same-sex marriage case, lest the state truly become a place for all lovers. [National Law Journal]
* Whitey Bulger is appealing his conviction, claiming he didn’t receive a fair trial because he wasn’t allowed to testify that a prosecutor who had since died once promised him immunity. Aww. [WSJ Law Blog]
* On the whole, school rankings matter generally, but law school rankings can be truly meaningful when it comes to getting a job after graduation. Don’t believe me? Check out these graphs. [Forbes]
* “They’re not the one if this fails will have a law degree that we cant do anything with.” Students at Concordia Law are starting to feel the pain of attending a yet-to-be accredited law school. [KBOI 2]
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: