As law firm associates and partners rejoice over their bonuses and profits, we urge you to keep in mind the importance of giving back this holiday season. The law firm of Skadden Arps certainly does, through its support of the Skadden Fellowships. It’s fitting that word of the new Skadden Fellows always comes out around this time of year.
In case you’re not familiar with it, the Skadden Fellowship program has been described as “a legal Peace Corps.” It was established in 1988, in honor of Skadden’s 40th anniversary as a law firm, and it supports graduating law students committed to public interest work as they embark upon specific projects at sponsoring organizations.
How many fellowships were awarded this year? Which law schools do the fellows come from?
It’s time for celebration of a different sort — time to celebrate, and congratulate, the latest class of Skadden Fellows. The winners of these prestigious public interest fellowships were just announced, as they are every December.
As explained in the Skadden Fellowship Foundation’s press release, the 28 new fellows are graduating law students or judicial law clerks who are devoting their careers to public interest work. They’ll be working for organizations located in nine states and the District of Columbia, “focusing on issues ranging from the health and safety of low-wage immigrant workers in California to representing Russian-speaking victims of domestic violence and sex trafficking in New York.”
(Baby Jesus would be proud of what they do. Unless they work for the ACLU and try to ruin his birthday.)
Who are the Skadden fellows for 2012? Which law schools produced the most fellows? And what’s different about this year’s program compared to past years?
Joe Flom, R.I.P. — and R.I.C.H. As you might expect from the name partner of one of the world’s largest and most lucrative law firms, Flom left behind a vast fortune.
It might seem tacky to talk about this. But that hasn’t stopped us before given Flom’s commitment to charity, it’s actually heartwarming to see all of the worthy causes that will be receiving much-needed funds from the Flom estate.
So how much are we talking about? And who are beneficiaries of his will?
Biglaw isn’t all about high-stakes mergers and bet-the-company litigation. Many Biglaw firms take their commitment to pro bono very seriously. Obviously, these firms need to pay the bills, first and foremost. But when they can, many firms do try to give back.
As many of you already know, Skadden takes that commitment quite a bit further, with its Skadden Fellows program. We highlight this worthy program every year. The Skadden Fellowships are for law school graduates who want to devote their lives to public service, and the firm makes a major financial commitment to its fellows. From the Skadden Fellows website:
Fellowships are awarded for two years. Skadden provides each Fellow with a salary and pays all fringe benefits to which an employee of the sponsoring organization would be entitled. For those Fellows not covered by a law school low income protection plan, the firm will pay a Fellow’s law school debt service for the tuition part of the loan for the duration of the fellowship. The 2011 class of Fellows brings to 620 the number of academically outstanding law school graduates and judicial clerks the firm has funded to work full-time for legal and advocacy organizations.
It’s a sweet gig if you can get it.
And if you take a look at the list of Fellows — perhaps you know some of them? — you’ll notice that quite a few of them attend the top law schools in the country….
The Skadden Fellowship Foundation, described as “a legal Peace Corps” by The Los Angeles Times, was established in 1988 to commemorate the firm’s 40th anniversary, in recognition of the dire need for greater funding for graduating law students who wish to devote their professional lives to providing legal services to the poor (including the working poor), the elderly, the homeless and the disabled, as well as those deprived of their civil or human rights. The aim of the foundation is to give Fellows the freedom to pursue public interest work; thus, the Fellows create their own projects at public interest organizations with at least two lawyers on staff before they apply.
Fellowships are awarded for two years. Skadden provides each Fellow with a salary and pays all fringe benefits to which an employee of the sponsoring organization would be entitled. For those Fellows not covered by a law school low income protection plan, the firm will pay a Fellow’s law school debt service for the tuition part of the loan for the duration of the fellowship. The 2010 class of Fellows brings to 591 the number of academically outstanding law school graduates and judicial clerks the firm has funded to work full-time for legal and advocacy organizations.
The 2010 class of Skadden Fellows was just announced. Congratulations to the 27 winners, selected from 20 different law schools. Yale had four, Berkeley (aka Boalt Hall) had three, and Stanford and Fordham had two each.
Check out their names, law schools, and sponsoring organizations — maybe you know some of them? — after the jump.
We’ve been writing about career alternatives for lawyers. With all the layoff news coming out of law firms these days, it’s good to remember that there are things you can do with a law degree other than working for a large law firm. Today, we’re touching on fellowship options for attorneys.
Of course, there are judicial clerkships, the ultimate “de-facto” fellowships for attorneys, and legal academia fellowships (aspiring law professors should check out TaxProf Blog’s compilation). But we are focusing on opportunities for mid-career attorneys, who may want to get away from Biglaw for a year or two, but ultimately want to keep on practicing.
We’re listing a few and encourage you to mention others in the comments. If you’re looking for interesting experiences, and don’t mind a dip in your salary, here are a few fellowships to consider:
Right now a heated debate is raging in last night’s open comment thread. The subject: public interest law, and the people who practice it. The debate is aptly summarized by this comment:
This comment thread is a microcosm of the unhappy lawyers out there. The big firm lawyers comfort themselves by telling themselves that public interest lawyers are incompetent, self-righteous, don’t make enough money, and sit around smoking pot and complaining about how little respect they get.
The public interest lawyers comfort themselves by telling themselves that big firm lawyers are egotistical, immoral, don’t do real work, and have sacrificed “real life” for money on the assumption that either they can just purchase love, friends and happiness, or that cocaine is an acceptable substitute.
For those of you who do follow public interest, here’s some important news: announcement of the 2007 Skadden Fellows!!!
These extremely prestigious fellowships, funded by Skadden Arps, are awarded to 25 outstanding individuals each year (selected from hundreds of applicants). The fellows spend one year — or two, if renewed — working on a project of their own design, at public interest organizations around the country. For more details, plus the history of the program, see here.
Skadden fellows don’t make a ton; the class of 2006 fellows earned a salary of $46,000. As one ATL correspondent bitterly notes, “They will make almost as much per year as those stupid third-year associates will get as a ‘bonus.’” But then again, from the perspective of the lucky organizations who get the help of fully-funded fellows, it’s found money.
The list of 2007 fellows is available here. One of the new fellows is Georgetown Law 3L Miriam Lederer (pictured at right), whom we had the pleasure of meeting at the recent Breyer-Fried event. A tipster described Miriam as a “raven-haired beauty,” and we concur in that assessment.
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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@example.com.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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