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Michael Allen

Michael Allen

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

Seven years removed from the financial crisis, the Biglaw market as a whole looks stable with an optimistic future. Through the first three quarters, there has been a modest four percent increase in the amount of partner moves compared to the same period last year. However, the same period is down about 9% from two years ago — but this is largely due to an unexpectedly robust second quarter in 2012.

The beige book concurs with this assessment, noting that in most markets, legal demand rose. Over the next 20 years, the overall job market is expected to grow around 14%, according to the Bureau of Labor Statistics.

For the legal industry, this number is closer to 10%. With law school applications down 37% from 2010, junior associates will realize their relative attractiveness on the lateral market. For more seasoned mid-levels, their demand has subsided after a sharp peak in 2012. There is an even more pronounced difference in quarter four, where junior associate hiring (1-3) burgeoned. (Note the data collected did not start recording laterals by JD year for junior associates until late 2012, and 2011 for mid-level associates.)

double red triangle arrows Continue reading “The State Of The Legal Job Market”

thank you spring flowersThanks to our advertisers here at Above the Law:

If you’re interested in advertising on Above the Law or any other site in the Breaking Media network, please download our media kits or email advertising@breakingmedia.com. Thanks!

Philadelphia_skyline_from_south_street_bridgeNext week, ATL will be in the City of Brotherly Love. So, if you’re a law student, come meet up with us for drinks after class — I mean, we’ll buy you one. Courtesy of our friends at Kaplan Bar Review.

Many of you have told us you’re coming. But for those of you who haven’t, here’s your invitation.

Details and a form to officially RSVP are below.

Tell your friends and come on down…

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Supreme Court SCOTUS photo by David LatLast night, in the beautiful D.C. offices of Arnold & Porter, Above the Law held its second annual Supreme Court round-up event. I discussed October Term 2014 with two of the most distinguished advocates practicing before the Court today, Lisa Blatt of Arnold & Porter and Tom Goldstein of Goldstein & Russell (and SCOTUSblog fame too). Although this Term is not the most thrilling Term ever — which could change, based on the cases that get granted certiorari over the next few weeks — Blatt and Goldstein produced a sparkling conversation full of ample insight and laughter.

Thanks to Lisa Blatt and to Tom Goldstein for participating, to our readers for attending, to Arnold & Porter for hosting, and to Special Counsel eQ for sponsoring. Keep reading to check out photos….

double red triangle arrows Continue reading “Thanks To All Attendees Of Our SCOTUS Event”

Above the Law Job boardLooking for a job? Check out Above the Law’s new job board. You can find it under the “Career Center” navigation tab on the top of the page, and the five most recent jobs posted can be found in the column on the right side of the page. While there, you can easily find jobs like:

Need help updating your lateral résumé? Check out Lateral Link’s advice here. You can always find additional career resources in the ATL Career Center. Best of luck in your job search!

Are you an employer interested in posting employment opportunities on the Above the Law Job Board? You can find packages here or contact advertising@breakingmedia.com. Thank you very much.

Michael Allen

Michael Allen

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

When an Am Law 50 partner filed for divorce in 2010, she had no idea she was ending not only her marriage, but also her tenure as a Biglaw partner. The career she built on three degrees and over thirty years of hard work, ended unceremoniously as a casualty of a rancorous divorce.

What went wrong? It’s no secret that Biglaw firms scarcely differ from large corporations when it comes to employees’ personal matters. They tend to take a laissez-faire approach, unless they are pressured to protect the firm’s image or assets. The managing partner of the local office explained to her that it would be important to the firm that the partner’s productivity or the office atmosphere not be impacted by the divorce, but was otherwise unconcerned with the proceedings.

Jaffe & Clemen’s ace divorce attorney, Frisco Fayer, explicates that “[m]ost modern big firms recognize the need to support their partners and they do so whenever possible. That said, the demands placed on a divorcing partner by his or her career are not going to disappear. The partner’s clients are still going to expect the same level of service and the other partners in the firm are still going to be interested in maintaining billable hours.”

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student-loan-debtAverage 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…

double red triangle arrows Continue reading “A Tale Of Two Borrowers: An Infographic”

chicago-sales1As part of a nationwide tour, Above the Law is coming to the great city of Chicago.

Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.

Space is limited and there will be no on-site registration, so please RSVP below:

retakerIt’s 12:01 a.m. Your phone dings as an email arrives from the Board of Law Examiners. The results are here. You nervously open the email and quickly scan through until you see, “We regret to inform you …” Why bother reading any further, you know what it says. A rush of emotion pours over you. Anguish. Embarrassment. Anger. Then questions start popping up. What am I going to tell my parents? Why didn’t I study harder? What is wrong with me? What do I do now?

Over the coming days, people will tell you how Hillary Clinton failed the bar or that U.S. Supreme Court Justice Benjamin Cardozo failed several times, but that won’t make you feel better. You’ll get words of encouragement from friends and family, but that will only make things worse. What you need is a plan…

double red triangle arrows Continue reading “Ask The Professor: What Happens If You Fail The Bar Exam?”

thanks-keyboardThanks to our advertisers here at Above the Law:

If you’re interested in advertising on Above the Law or any other site in the Breaking Media network, please download our media kits or email advertising@breakingmedia.com. Thanks!

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