Ed. note: This is the first in a new series, “Across the Desk,” from Bruce MacEwen and Janet Stanton of Adam Smith Esq. and JDMatch. “Across the Desk” will take a thoughtful look at recruiting, career paths, professional development, human capital and related issues. Some of these pieces will have previously appeared, in slightly different form, on AdamSmithEsq.com.
As noted in the American Lawyer recently, the lateral recruiting boom of recent years continues unabated. As the Am Law article points out, “At the same time [as they’re focused on hiring lateral partners], firms appear to be homing in on their poor performers. Nine out of 10 survey respondents said their firm has ‘unprofitable’ partners, and seven out of 10 said their firms have partners at risk of being deequitized or ‘put on performance plans.’ As one survey respondent put it: ‘There are too many partners without sufficient billable work.'”
Now, wouldn’t you think it would make sense — if firms are worried about underperformers — to pay some attention to associates as well as partners? After all, some of those associates should, speaking theoretically at least, be your future partners.
Yet there’s unrebutted evidence that firms look at the wrong criteria when hiring associates….
It’s probably the Harvard in me that makes me want to subconsciously disparage the accomplishments of Stanford Law School whenever it bubbles up to number 2 in the U.S. News Law School Rankings.
But maybe we’ve got evidence on just how Stanford was able to jump ahead of HLS this year. A tipster reports that there’s an Adderall epidemic at Stanford Law. He says there might be an “Adderall ring” at the law school.
The picturesque Richard H. Chambers Courthouse in Pasadena, home of the Ninth Circuit.
California has released some macro-level results from the July 2011 administration of the bar exam. The California bar is notoriously difficult, and every year we like to take a look at which schools prepared their students well for the exam, and which schools did not.
Last year, the overall pass rates were 68.3% for all takers and 75.2% for graduates of the twenty ABA-approved law schools in California. This year, overall pass rates clocked in at 67.7%, while students who went to ABA-accredited law schools in California passed at a 76.2% clip.
But you might be surprised at which California law school had the best passage rate on the California bar. Hint: it’s not Stanford, or Boalt Hall, or UCLA….
I think we’ve all been waiting for this. Last Wednesday, we picked up a report from the Stanford Daily announcing that students at Stanford Law School would be looking at a 5.75% tuition hike for the 2011 – 2012 academic year. That’s significantly larger than the 3.5% tuition hike for the rest of the university.
Given that most Stanford Law students found out the school was jacking up tuition from the Stanford Daily or Above the Law, I’m not surprised to see a school-wide apology from Stanford Law Dean Larry Kramer. And given the fact that the best reason thus far given for Stanford’s tuition hike reduces to “because we can,” I’m also not surprised to see Dean Kramer working hard to spin the story differently.
Do you find him convincing? Read his email and tell us what you think…
Falling snow? Not in sunny California. Falling bar exam passage rates? Yes — at least for 2010.
A few days ago, the State Bar of California released overall statistics for the July 2010 administration of the (notoriously difficult) California bar exam. The overall bar pass rates went down by a little — but at some schools, the pass rates went down by a lot.
Which law schools’ pass rates tumbled, and by how much?
Hello, West Coast readers! How’s it hangin’ out there past the Rockies? Here at Above the Law, we try to overcome any suggestion of East Coast bias by consistently publishing a post later in the day for our readers in the Pacific time zone. And we try to be generally aware of West Coast firms and schools.
We’ve even heard of Stanford Law School. It’s like the Harvard of the West, right? We hear it’s wonderful. It’s not Yale, but hey, neither is the Harvard of the East (a.k.a. Harvard).
Stanford Law School Dean Larry Kramer wants that to change. He’s already pushed through grade reform, so now Stanford copies Yale’s grading methods. (Berkeley kids, just be quiet. Nobody wants to hear about how everybody copied it from you.)
But apparently grade reform was just step one of Kramer’s grand plan to oust Yale from its position as the nation’s best law school…
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: