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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.jpgDuring the past year, pro bono programs got an unexpected boost from the recession when firms like Skadden offered stipends to their deferred associates who took public interest jobs. On the flip side, associates who escaped layoffs at their firm probably felt some pressure to devote themselves to billable work to the exclusion of pro bono work.
This week, our ATL / Lateral Link survey asks about the effect of the economic downturn on the pro bono programs at your firm. 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. Also, a reminder that we are still accepting applications for additional writers for the Career Center.

Career Center AboveTheLaw Lateral Link ATL.jpgWe are excited to announce that in the near future we will be launching a completely revamped Career Center, with more information and resources for all of our readers.
In preparation for this, we are looking to add additional writers and researchers to our Career Center team. We are looking for people who can commit 10 to 20 hours per week for the next several months (and there is a chance this could develop into a longer-term position).
If you are interested, please send your resume to careercenter@abovethelaw.com. Thanks!

Career Center AboveTheLaw Lateral Link ATL.jpgOur recent Career Center survey asked about whether the recession has affected clerkship bonuses and law firm hiring of clerks.  Of respondents at law firms, a slight majority — 57% — indicated that their firms are not interviewing judicial clerks for Fall 2010 positions.  Of respondents who are currently clerking, only 30% indicated that they have a position for Fall 2010 or have even been able to get interviews for such positions.  Despite these depressing statistics for post-clerkship employment, a majority of law student respondents indicated that they are planning on clerking after law school. 

Check out the full survey results after the jump — and visit the Career Center, powered by Lateral Link, for more on clerkship bonuses and hiring trends at firms across the country.

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

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.

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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. 

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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.



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