Many of our readers are busy Biglaw attorneys, and almost as a rite of passage, many of them have come home from work late at night, showered and gotten completely dressed and ready for the next day, and slept in their clothes for a few hours, if only because they knew they wouldn’t have the time or energy to complete their morning routines before returning to the office.
If this sounds like an enjoyable lifestyle, then more power to you. For others, a more relaxing life beckons each and every day, but only some are brave enough to heed its call. When the art of relaxation summoned this corporate lawyer, she listened, and managed to turn it into a successful business opportunity as the founder of Higher Ground Yoga.
If you’re in search of some zen, this stealth lawyer may be able to assist you….
When I graduated from law school, I decided that I would take a job at a large law firm because it would maximize my chances of going in-house. I had no idea what either job would entail, but it seemed like a sensible plan. And, even without knowing what it would be like to be a litigation associate in Biglaw, I suspected it would be bad enough that an exit strategy would be necessary.
A few years later, I switched my exit strategy and went to a small firm. I decided that I could not wait for three to five more years to get the skills required to go in-house. So, I went to a small firm to get “hands on experience” and position myself for my new exit strategy: a federal government job. Then, hiring for federal jobs froze, and the few openings were impossible to get unless you had the exact experience required and could figure out your grade level. Consequently, I am currently reformulating my exit strategy. I am contemplating running for president or becoming a certified yoga instructor.
I have yet to meet a lawyer who did not plan or fantasize about his or her exit strategy from law firm associate, be it Biglaw or small. I blame it on the nightmare that is billing hours — even if the requirement might be less at some places. The most common exit strategies are (1) in-house and (2) fitness professional.
Is it possible, however, for a small-firm associate to go in-house, or is the small-firm associate required to follow my path and find a new exit strategy?
The most important person in law school administration is the dean. That makes sense. He or she makes policy and is in charge of the academic and financial footing for the entire school.
But who is the second most-important administrator? The dean of students? The head financial aid officer? I say that the second most-important administrative position on a law school campus is held by the career services dean.
Sure, a lot of schools don’t think that way. And even most law students act like the career services people should be glorified secretaries, setting up appointments and staying out of the way.
But in this economy, if you can’t get a job, what was the point of going to law school? And right now there are far too many law students who can’t secure employment. Most of a law school’s administration is concerned with roping in the next herd of lemmingssheep students. But the career services dean is forced to think about what will happen to kids after they graduate. If career services deans are doing their jobs well, they are some of the most important people on campus.
And when a person who holds such a crucial position leaves to do something that makes you say “what,” it really makes you wonder if current law students have any chance at getting the kind of professional placement help they desperately need….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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