Apparently also underrated? The corporate group at Cahill Gordon, according to the ATL audience. Cahill received the most mentions as having an “underrated” corporate group in our ATL Insider Survey. Biglaw has a fairly stable roster of alpha dogs in each practice category (Weil in bankruptcy, Wachtell in M&A, etc.), but we wondered which firms’ practice groups deserve more recognition. So, among other things, our survey asks attorneys to nominate firms with underrated (and overrated) practices within the respondent’s own practice specialty. Litigators nominate litigation departments, tax lawyers do the same for tax groups, and so on.
Read on and have a look at the top three underrated firms in each practice area:
To date, we’ve received nearly 8,000 responses to our ATL Insider Survey. Among other things, our survey poses this question to law firm lawyers: “If you had the chance to do it all over again, would choose to work for your firm?”
Unsurprisingly, those who answer “yes” tend to highly rate their firms in such areas as compensation, culture, and training. For those that wish they could take a Mulligan when it comes to their choice of employer, the inverse is true. Here is a comparison of ratings scores (on a scale of 1-10) for the various aspects of law firm life, broken out by responses to the “Mulligan” question:
Culture and Colleagues
Hardly counterintuitive stuff, we know, but it allows us to use the “Mulligan” response as a proxy for overall happiness/satisfaction, as it’s so broadly predictive of the nature of the individual’s assessment of his firm.
Back in April, we shared our survey findings showing that Davis Polk was the top firm when it came to morale (to date, this holds true.) Today, we look at whether there are notable differences regarding satisfaction based on practice area. If we slice our survey data by practice, we find that there certainly are. So after the jump, let’s look at how practice groups stack up against one another in terms of the happiness of its practitioners….
Recently, I was talking to the managing partner of a top, global law firm about our new Career Center, and mentioned that Above the Law readers would be filling out surveys to rate their firms. I mistakenly gave him the impression that somehow the firm would have to be involved in distributing and collecting the surveys (they are not). When he thought that I was asking him for that, his eyes turned a demon shade of red, his hair stood on end, and he bellowed, “Not another survey,” as the earth quaked.
I might be exaggerating slightly, but you get the point. Law firms are inundated with surveys to fill out. Am Law this, Vault that. Super Duper Lawyers of Jurisprudential Awesomeness. Most of the information we have about law firms come from self-reported sources.
Of course, law school deans have taught us a thing or two about relying on self-reported data. Some of the rules can be bent, others broken. Considering the fact that the American Bar Association can’t even make sure that its member institutions tell it the truth, you can best believe that some Biglaw firms have become very skilled at massaging the surveys that they do get.
Today, the ATL Career Center launches its latest feature: a Pre-Law section, featuring ratings, inside info, and expert advice on law schools, LSAT prep, and the application process. Check it out here.
While law school applications continue to decline and legal jobs are scarce, the business of discouraging people from going to law school is positively booming. There is a mountain of data which would seemingly dissuade anyone from taking on massive debt only to then leap into the clogged toilet of this job market. (And yet, see this compelling analysis that now is actually a great time to apply to law school, especially for lower scoring applicants.)
But what about future law students — are the 0Ls getting these gloomy memos? And how is it shaping their choices?
Recently, in collaboration with our friends at Blueprint Test Prep, we conducted a survey of BluePrint’s summer students studying for the October 2012 LSAT. We had nearly 600 respondents. Our goal was to get a snapshot of these 0Ls’ perception of the legal landscape, including the realities of financing a law school education and the current state of the legal job market.
After the jump, see some of what we could glean from the 0L mind, including a striking disconnect between the “job market” and a “career path”….
In the nascent spirit of positivity aroundhere, let’s take a look at where, according to our research, Biglaw’s happiest troopers can be found.
To be sure, lawyers are a notoriously depressive lot. Various studies — and presumably Will Meyerhofer — suggest that the characteristics that make a good lawyer actually correlate with clinical depression. Combine these alleged traits with crushing debt, an oversaturated job market, and an uncertain future, and the industry seems mired in malaise.
But what about those fortunate ones who’ve managed to snag a coveted Biglaw gig? Why, not only are they employed, but they have a realistic chance to pay off their loans. Are they any more upbeat than the industry’s rank-and-file? Our own survey data strongly suggests the answer is definitely maybe.
Respondents to our ongoing ATL School & Firm Insider Survey give their “firm morale” a mean rating of 6.81 out of 10. (By the way, if you haven’t yet, please take the survey here.) For context, lawyers rate morale a bit higher than “hours” (6.55) and bit lower than “training” (6.88). So, generally speaking, firm morale is not conspicuously singled out by lawyers as a negative.
But which are the happiest firms? And the unhappiest? Let’s have a look at the Biglaw shops getting top marks for esprit de corps….
Before the arguments commenced, we asked our readers for their opinions and predictions on the case: Will SCOTUS uphold the ACA? Should it? 1,100 of you weighed in.
After the jump, we’ll look at the results of our survey, and sample some representative reader comments. (Here is an example of a non-representative reader comment: “I hope the law is overturned. I am a Christian Scientist and have not been to the doctor in 40 years.”)
Our ongoing ATL School & Firm Insider Survey (take it here!), asks current law students, among other things, “What do you expect to do after you graduate?” A whopping 71% tell us that they expect to work for a firm. (This percentage was consistent across class years.) That this proportion is so high, and so at odds with the NLJ findings, can mean some combination of two things:
The ATL student readership skews heavily toward that minority of students who will actually snag Biglaw gigs.
Many (if not most) expectations of law firm employment will be dashed against the reality of a contracting job market. In other words, a majority of students think they are in the fortunate minority
After the jump, we’ll look at how wide the gap between student expectation and market reality is, even at the “go-to” schools:
Last Thursday, we opened our ATL Firm & School Insiders Survey and so far, so good. We’ve heard from students at nearly 100 law schools and lawyers at about 200 firms. As previously noted, this survey is one of the first data-gathering tools we’ll be using to create a new, expanded ATL Career Center. While we’re pleased with this initial response, of course we encourage all of you who haven’t yet to take 3-5 minutes and head over here to take our absolutely confidential survey. Thanks in advance.
To all non-law firm attorneys: thanks for your insight regarding your law school alma maters. Please know that we are looking forward to asking about your professional experiences soon, whether they be in government, non-profit, in-house, academia or elsewhere.
As our data accumulates, we look forward to slicing and dicing it in myriad ways, in order to find patterns of interest to our readership, but more importantly, for useful insights for anyone researching legal education and careers.
After the jump, we share a handful of early trends in the survey data:
Later this year, Above the Law will be launching a new, expanded Career Center. The new Career Center will be a resource for students and lawyers at all stages of their careers, and in all areas of legal practice (i.e., not just Biglaw). But we can be sure that news and insight into life at firms and schools will continue to be ATL’s bread and butter. With that in mind, today we open up the ATL School & Firm Insider Survey.
I assume a common reaction will be, “What with — among others — Vault, Chambers, U.S. News, and Am Law, why the hell do we need yet another employer/school survey?” Fair enough. And yes, all of the existing surveys have their merits. All of them produce useful content for students and potential laterals.
We do believe, however, that when it comes to information, the more the merrier. Moreover, the ATL survey is distinctive in some fundamental ways, and we’re going to justify its existence….
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.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!