Elie here. In news that should shock no one, Dewey & LeBoeuf has canceled its 2012 summer program. Honestly, if you were a 2L who was planning on going to Dewey this summer and you are just now figuring out that it’s not going to happen, you should probably spend more time reading Above the Law and less time sniffing glue. (Pro tip: sniffing glue + reading ATL = total awesomeness.)
We’ve also got some additional information about a possible criminal probe into the Dewey situation by Manhattan District Attorney Cyrus Vance. (We briefly considered the headlines “Dewey Have Any Lube for this Probe?” or “Dewey Know Any Good Criminal Defense Lawyers?”)
Let’s get into it. I’ll turn the floor over to Lat….
UPDATE (5:25 PM): Additional info, appended after the jump.
UPDATE (4/30/2012): We’ve added some material to the memo about the cancellation of the summer program that was initially missing when we first published this post.
Here in New York, the theater community is gearing up for the Tony Award season. Which shows will snag coveted nominations for best musical and best play?
In the world of Biglaw, though, there’s no competing with the drama now unfolding at Dewey & LeBoeuf, the once elite and now rapidly imploding law firm. Thus far, the story of Dewey has been dynamic but depressing, more tragedy than comedy.
But might that change? Could the tale of D&L end happily, like a Shakespearean comedy — with a wedding?
This is Elie Mystal, coming to you live from Austin, Texas, and the 2012 conference of the National Association of Law Placement. It’s my favorite annual conference, because every year, NALP just gets all the law school career services officers and all the law firm recruiters in a room, and tells them all the trends in legal hiring. We’re not talking about anecdotal evidence or law firm spin. It’s the one time each year we get to look at some hard numbers.
And in case you live under a rock, let me tell that every year since the recession, the numbers get more and more terrible. Looking at some of these statistics is as close as you can come to physically witnessing a dream die a horrible, mangled death.
This year, the numbers are worse than ever! And that’s the good news. NALP’s Executive Director, Jim Leipold, thinks that we’ve probably “hit the bottom” in terms of new associate hiring, with the class of 2011 suffering the absolute nadir of this process. While he doesn’t know if things will get significantly better any time soon, he figures they pretty much can’t get any worse.
Obtaining a summer associate position at a major law firm remains difficult. That’s the upshot of a recent report (PDF) issued by our friends at NALP. You can read summaries of the report at the NALP website and at the ABA Journal. This quip, by NALP executive director Jim Leipold, pretty much says it all: “This is not a hot recruiting market.”
Given that employers are still in the driver’s seat, at least when it comes to entry-level recruiting — recruiting of lateral lawyers, whether associates or partners, is a different kettle of fish — you’d think that law firms would use this opportunity to experiment a bit with fall recruiting. There are some interesting alternatives out there to the standard model of 20- to 30-minute screening interviews, typically held in the summer before or early fall of the 2L year, followed by callback interviews at the firms. E.g., JD Match (disclosure: a past ATL advertiser).
But law firms, as we know, are a conservative group. They tend to stick with existing models, even if those models are imperfect.
Well, most law firms. Nobody ever accused Quinn Emanuel of not daring to be different….
* Obama has officially nominated William Baer, an Arnold & Porter partner, to run the DOJ’s antitrust division. Get ready for an election year confirmation showdown between the parties. [New York Times]
* Newt Gingrich has dropped out of the Virginia ballot lawsuit that was originally filed by Rick Perry. What does this mean for his campaign? Is he giving up his plans for the presidency, too? [Washington Post]
* Here’s a great refresher on all things Prop 8 in anticipation of today’s ruling from the Ninth Circuit. This is happening on West Coast time, so check back for our coverage this afternoon. [Poliglot / Metro Weekly]
* Sorry, bridge and tunnel people, but it looks like you’re going to have to keep paying increased prices at the tolls. AAA of New York and North Jersey lost a bid to block collection of the fee hikes. [Bloomberg]
Yesterday we brought you the story of a 2L at Cardozo Law School who has taken out Google ads promoting himself, in an attempt to find a summer associate job. Here’s what his ad looks like (as displayed to an Above the Law reader who alerted us to his campaign):
We reached out to Eric Einisman to ask him: What was he thinking?
A reader alerted us to the following Google ad, which showed up in a Gmail sidebar next to a law-related email chain:
Whoa! Is this for real? Is a second-year student at Cardozo Law School actually advertising himself via text ads on Google, promoting himself as “[a] great choice for Summer Associate”?
Are Cardozo law students truly this desperate? Is this why the career services dean quit to teach yoga? Should Cardozo focus less on teaching students how to walk and more on teaching them how to conduct job searches?
Or is this too harsh an assessment? Let’s learn more about the 2L behind this unusual ad.
Being a summer associate isn't a day at the beach, but it's still pretty awesome.
A summer associate program at a top law firm is like sex or pizza: even when it’s bad, it’s still pretty good.
That seems to be the conclusion of the American Lawyer’s 2011 summer associate survey. Am Law polled 3,656 students at 138 law firms about their summer experiences and used the results to rank 108 summer programs. The lowest-ranked program — that of Chadbourne & Parke, in case you’re wondering — still emerged with a healthy overall satisfaction score of 4.142 (on a 5.0 scale).
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?
I should have known that we’d end up doing a series of posts about this. “Bragging” about getting an offer is something that everybody does in their own way, and something that rubs a lot of people the wrong way.
And so our next installment of law student puffery involves photos, which is always fun. But in truth we can’t be totally sure if this guy is bragging about getting an offer.
Given the firm the kid is bragging about, he might just be happy to be there…
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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