Following the lead of Kilpatrick Stockton, Orrick, and other Biglaw firms, Greenberg Traurig has created some new non-partnership-track attorney positions. They pay less than traditional partnership-track — or, in GT parlance, shareholder-track — positions, but the billable-hour requirements are lower and the training is better.
What do these positions look like? Let’s find out….
Hot on the heels of support staff layoffs and on-shore outsourcing efforts at O’Melveny & Myers, we have news of another law firm doing the exact same thing. Except this law firm has figured out a way to do it with half the tears and way less relocation angst.
Critics of the legal-education industrial complex would probably like to see some radical changes in the U.S. law school system. They’d probably want a few dozen law schools to shut down entirely, to reduce the glut of lawyers in this country. Barring that, they might want to see law schools reduce tuition dramatically — not just freeze tuition, which some schools are already doing, but make an outright cut in the sticker price of a J.D.
Alas, expecting such changes isn’t terribly realistic. Law school deans and law professors aren’t going to willingly reduce their salaries or send themselves into unemployment — and why should they? Despite all the warnings about the risk involved in taking on six figures of debt to acquire a law degree, demand for the product they’re selling, legal education, remains robust (even if it’s showing signs of abating).
Interestingly enough, however, we’re seeing some law schools cutting their production (of graduates, of J.D. degrees)….
It’s a sad state of affairs when a law school holding the line on tuition is breaking news. But with nearly every other law school rushing to bilk students who will pay anything for a legal education (law schools at Stanford, Arizona State, and Minnesota spring to mind), it’s nice to see at least a couple of schools that regard their students as something more than profit centers.
Maryland announced its tuition freeze in December. The National Law Journal reports that Miami recently announced it would be maintaining a tuition freeze already in place. Now UNH Law is joining their ranks. There’s still plenty of room on this bandwagon if your law school would like to take a brief break from molesting your financial future.
Not that UNH Law is cheap, especially for a third-tier law school. But this tuition freeze is another indication that UNH is at least trying to think about legal education in a somewhat realistic way…
In the movie The Untouchables, Sean Connery counsels Kevin Costner: “If you don’t want to get a rotten apple, pick one fresh off the tree.” Apparently, Hewlett-Packard is taking the same advice; instead of hiring in-house attorneys seasoned in Biglaw firms, HP is getting its next crop of legal help directly from the nation’s top law schools. The Recorder reports (gavel bang: ABA Journal):
This fall, Hewlett-Packard is going where few corporate law departments have gone before: hiring fresh graduates for full-time in-house positions.
Four first-year associates will join HP in Palo Alto, Calif., in September — one from Harvard, two from Northwestern and one from UC-Berkeley. The associates will earn $115,000 per year plus a $15,000 signing bonus and undergo a training program similar to the type installed recently at firms like Howrey and Orrick, Herrington & Sutcliffe.
We just did a report about how the lawyer training programs offered by firms like Howrey weren’t catching on. But perhaps HP can offer the renowned better lifestyle of in-house attorneys to buttress their below Biglaw market salary?
Last week, we set up an open thread for people to discuss the next round of tuition hikes at their law schools. Sadly, it appears that many schools are indeed raising tuition despite the soft economy for legal jobs. Once again, the cost of legal education is proving to be recession proof.
But another, even more disturbing trend could be on the way. At a few schools, the new plan seems to be raise tuition on entering students by a higher percentage than the tuition on returning students. To keep the money rolling in, it looks like this next crop of 1Ls will be subsidizing their jobless, 3L brethren.
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 seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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