The Wharton School

* Beef: it’s what’s for dinner (at the D.C. Circuit). [How Appealing]

* “The Likelihood A Robot Will Steal Your Job, In One Picture.” Good news for lawyers, not-so-good news for paralegals. [Kotaku]

* An interesting perspective from Professor Faisal Kutty: “Why Gay Marriage May Not Be Contrary To Islam.” [Huffington Post]

* And from Willkie partner Francis J. Menton: “Argentina Is Joined In The Supreme Court By The Coalition Of Weasels.” (I’m guessing Willkie doesn’t represent many foreign sovereigns in fights against their creditors; that seems to be Cleary Gottlieb’s niche.) [Manhattan Contrarian via Instapundit]

* A CLE event that offers a lot of bang for the buck. [National Firearms Law Seminar]

* If you’ll be in Philadelphia tomorrow night, watch a bunch of Penn Law students beat up some punks from Wharton — for a good cause! [Wharton vs. Law: Fight Night; promotional video after the jump]

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Ed. note: This is a new series 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 have previously appeared, in slightly different form, on AdamSmithEsq.com.

A Wharton School professor has analyzed the performance, and pay levels, of external hires versus internal staff promotions. He used personnel data from a division of a major U.S. investment bank for 2003 to 2009, and the characteristics of that talent market are remarkably similar to our own.

Investment banking, Professor Matthew Bidwell writes, represents “an interesting context in which to study the effects of internal versus external mobility [because] organizational performance often depends on the skills of the workforce, [thereby] increasing the importance of personnel decisions.” In addition, workers in banking are “notoriously mobile, making this a context in which organizations regularly engage in external hiring at all levels.”

The genesis of his study was seeking an answer to this question: what has the increased mobility of workers over the past 30 or so years meant, as firms turn away from offering lifetime employment in favor of relying on the external labor market to find experienced workers at all levels of the organization?

double red triangle arrows Continue reading “From Across the Desk: Lateral Hires & Guarantees Deconstructed”