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Career Center AboveTheLaw Lateral Link ATL.jpgWe recently wrote about the subject of clerkship bonuses (which generated some very helpful comments). Now we’re going to gather some additional data on the subject of law clerk hiring and clerkship bonuses.
This week, our ATL / Lateral Link survey asks about how clerks are faring in the marketplace. We’ll use the information obtained from the survey to update the ATL Career Center (and we’ll bring you the results in a subsequent post, too).

If you have information about your firm that you want to share with other career center users, please email us at careercenter@abovethelaw.com. Thanks.
Earlier: What’s Up with Clerkship Bonuses?

Career Center AboveTheLaw Lateral Link ATL.jpg While associates at some firms are still waiting to learn what their 2009 bonuses will be, associates at other firms are learning more about what the future holds in store for them, as more firms announce new compensation structures for 2010 and beyond.
Check out the ATL Career Center, powered by Lateral Link, for the latest information on which firms are making a full recovery and which firms are still stuck in the downturn.
In the last week, we have updated the firm snapshots for Vinson & Elkins, Wachtell, Irell & Manella, Paul Weiss, Wilson Sonsini, Hughes Hubbard, Quinn Emanuel, Chadbourne & Parke, Latham, Cooley Godward, Goodwin Proctor, Bryan Cave.
Below are a few of the latest updates from the Career Center firm snapshots:

  • This firm not only avoided layoffs and pay freezes last year, it had its most profitable year ever in 2009.
  • While 2010 has brought salary thaws at many firm, salaries at this firm remain frozen. 
  • In addition to recently raising salaries to pre-freeze levels, this
    firm
    awarded make-whole bonuses to associates to make up for salary lost during the freeze in 2009.  

After the jump see which firms were most popular in January.

double red triangle arrows Continue reading “Career Center: January’s Ten Most Popular Firms”

Career Center AboveTheLaw Lateral Link ATL.jpg Our recent Career Center survey asked about whether you think layoffs and salary cuts are a thing of the past or if 2010 will bring more of the same.  The majority of respondents — 70% — are optimistic about salaries, saying they do not expect any further salary cuts in 2010. 
However, respondents were not so optimistic about the chances of future layoffs.  After a year in which over 75% of respondents saw layoffs at their firms, almost half — 45% — think there is at least a 50-50 chance of more layoffs in 2010. 
Check out the full survey results after the jump — and visit the Career Center, powered by Lateral Link, for more on which firm has announced above-market bonuses for the second year in a row and which firm is so confident about recovering from the recession that it is opening multiple new offices.
Full survey results, after the jump. 

double red triangle arrows Continue reading “Career Center: Survey Says”

Career Center AboveTheLaw Lateral Link ATL.jpgMany associates are hoping that 2010 will bring an end to the layoffs, pay cuts and deferrals of 2009. But so far January has brought more of the same at several major law firms.
This week, our ATL / Lateral Link survey asks whether you think your firm will institute more layoffs and pay cuts in 2010 or if things are finally on the rebound.  We’ll use the information to update the ATL Career Center and bring you the results next week.

If you have information about your firm that you want to share with other career center users, please email us at careercenter@abovethelaw.com.

Career Center AboveTheLaw Lateral Link ATL.jpgWelcome to the next article in our series of monthly Ask the Experts Career Development posts, brought to you by the ATL Career Center.  Just a reminder that previous Career Development articles, as well as career coaching information, are available in the Resources section of the Career Center.  
This week, we spoke with Jordan Abshire, Managing Director at Lateral Link who works with partner and associate candidates on law firm and in-house searches in Washington D.C and the Southeast.  We asked Jordan for advice on networking – what it is, how it works, and why you need to do it even if you are not actively looking for a new job.  
If the economic downturn has taught attorneys anything, it is that meeting the annual billable hours requirement no longer guarantees any kind of real job security.  Networking is more crucial than ever for attorneys who want to stay in control of their career development.
Q: Why do so many people cringe when they think about networking?
Find out the answer, plus more, after the jump.

double red triangle arrows Continue reading “Career Center: Ask the Experts”

Career Center AboveTheLaw Lateral Link ATL.jpgWhile layoffs dominated the law firm landscape in 2009, the worst of the downsizing seems to be behind us.  But it looks like 2010 will be bringing major changes to compensation structures at law firms.  Check out the ATL Career Center, powered by Lateral Link , for the latest information about which firms are moving away from lockstep compensation and how they are doing it.  In the last week, we have updated the firm snapshots for Kramer Levin, Mayer Brown, Kirkland & Ellis, Weil Gotshal, Cravath, Quinn Emanuel, Hogan & Hartson, Wachtell Lipton, K&L Gates, Cadwalader, Akin Gump, and Jones Day
Below are a few of the latest updates from the Career Center’s firm snapshots:
•   This firm announced it would be moving to a hybrid lockstep compensation structure.  Salaries will no longer be tied to seniority level, but based on a combination of objective and subjective factors.
•   This firm’s new compensation structure regroups associates into three seniority levels rather than class years.  Under the new plan, the firm will also withhold 15% of associates’ salaries until a year-end performance review. 
•   This firm is phasing in a new compensation structure over the next two years in which a larger percentage of each attorney’s total compensation will be in the form of individualized bonuses.
Use the Career Center’s firm snapshots and comparison tool to learn about other bonus news at firms around the country.  And as always, we encourage to send information about your law firm experience to careercenter@abovethelaw.com.



thank you post it note.JPGA quick word of thanks to this week’s advertisers on Above the Law:

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

Career Center AboveTheLaw Lateral Link ATL.jpgWe received over 1,000 responses to last week’s Career Center survey on whether your vacation plans have been affected by the economic downturn.  The results reveal that almost 70% of associates are still taking vacation time, regardless of whether they have met their billable hours or not.  Less than 10% of respondents say that they are not taking vacation because they worry it might look bad.  However, almost a quarter of respondents report that they are actually too busy to use their full vacation time this year.
Check out the full survey results after the jump — and visit the Career Center, powered by Lateral Link — for more on which firm has deferred start dates again, which firm recently announced a mega-merger with a London-based firm, and which firm reportedly awarded 2009 bonuses of up to $90,000.
Full survey results, after the jump.

double red triangle arrows Continue reading “Career Center: Holiday Survey Results”

Career Center AboveTheLaw Lateral Link ATL.jpgWith the holidays approaching, associates find themselves facing a quandary. Since work is still slow at many firms, associates may be tempted to take vacation before the economy bounces back and brings 70 hour work weeks with it.
On the other hand, does taking vacation in a recession send the wrong message?  This week, our ATL / Lateral Link survey asks what you think about using vacation time while the chips are still down.  We’ll use the information to update the ATL Career Center and bring you the results next week.

If you have information about your firm that you want to share with other career center users, please email us at careercenter@abovethelaw.com. Thanks!

thank you post it note.JPGA quick word of thanks to this week’s advertisers on Above the Law:

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

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