Not to be all on Catherine Rampell’s jock today, but the other thing I read in the Economix while I was catching up on the internet seemed far more interesting than imagining Shearman & Sterling partners bitch about how flat profits per partner left them with only $1.56 million, on average, to play around with in 2011.
On the one hand, it’s an obvious point: a study about the most “sleep-deprived” professions found lawyers to average only 7 hours of sleep a night. Only “home health aides” received less sleep.
It doesn’t come as a galloping shock to anybody that lawyers average less sleep than almost anybody else. What did surprise me was the figure. What the hell kind of lazy lawyer is getting seven entire hours of sleep every day?
My client wasn’t getting enough sleep. I assumed it was insomnia, but that didn’t fit the bill. It wasn’t that she couldn’t sleep; it was that she wouldn’t sleep. She was staying up from 11 p.m. to 2 a.m., lying in bed — mostly, playing Angry Birds.
Those few hours were the only time she was left alone all day – no one from the firm called to assign her something awful to do or yell at her for something awful she’d done. To relinquish this sliver of “me time,” even for sleep, was out of the question….
I was kidding around with some of the guys at my gym, tossing around the question – would you fight Mike Tyson for $3 million?
One of them joked – I think he heard this on Howard Stern – that he’d fellate Mike Tyson for $3 million. He could spend the first $1 million on mouthwash and retire on the rest.
Then another guy spoke up, a sometime professional heavyweight boxer. (I’m not making this up, he really has boxed, for big money, not too long ago – and has plans to do so again.)
“It’s not worth it. Mike would destroy you. There would be no retirement.”
He went on to explain what he meant. He knew from experience – this guy had been in the ring. You’d have more than bruises – you’d have concussions, brain injuries, damaged bones and joints. You’d never be the same – and it wouldn’t be worth it. You’re better off not having $3 million but appreciating the finer things, like being able to walk and talk and think.
I saw his point.
Biglaw is also not worth it, even for big money. That’s because it, too, destroys you – just like Iron Mike…
When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
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: email@example.com.
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