Am Law Second 100

The American Lawyer just released the list of the 101-200 firms ranked by gross revenues. Click here for the story and rankings.

So many attorneys look to flee BigLaw for an in-house position without considering a move to the Am Law second 100. Look at the stats provided by the American Lawyer: the average profits per partner for the Am Law second 100 is $666,000. It’s certainly less than the average PPP for the Am Law 100 ($1.315 million) but more than you would make in an average in-house legal department. Something to think about on this Friday afternoon.

You could have a pretty good life on $666K/year!

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Senioritis: Diagnosis and Treatment

I. Two Weeks More and I’m Free! But how can I possibly last two more weeks??

You’ve landed your dream job and you’re a mere two weeks away from leaving your current firm, taking that tropical vacation, and then making a fresh start at your new position. You feel exuberant, on top of the world, like you could do anything. There’s a bounce in your step and a playful smile hovering around your mouth as you begin cleaning out your office with unleashed enthusiasm. You’ve got Radiohead’s new album on and you’re making rim shots into the industrial sized trash can that would make Lamar Odom weep. The world is yours.

That is, until your intercom buzzes and suddenly your play time is interrupted by a junior partner needing some research done ASAP on a case you’ve already sent to the file room. Crashing back to earth, you sigh, push aside the legal detritus that’s accumulated onto your desk, and sign on to Westlaw. You’ve got senioritis, and you’ve got it bad.

Senioritis is a completely normal affliction that varies in degree; it’s power over you is directly affected by a number of factors such as (a) the excitement you have for your new job; (b) your desire to leave your current position; (c) the emotional roller coaster of your job search; (d) the fabulousness of your so-close-you-can-almost-hear-the-waves-vacation; and (e) the fact that you may be just plain worn out.

Continuing to do strong work in a job that you are ready to cast off is extremely challenging. Unless engaged in a trial or a deal that you’ve been working on for months, you’re more than likely to fall victim to senioritis. Senioritis is an affliction that results in feelings of ennui towards your normal routine coupled with a galloping excitement about what the next job/adventure will bring. But not to fear, there is hope! The important thing to do with senioritis is to diagnose it then treat it. Diagnosis is easy. Treatment takes some effort.

II. Part One: Diagnosing Senioritis

Ask yourself the following questions and any number of affirmative responses is a likely indication that you have it.

1. Has a certain malaise come over your attitude to current tasks?
2. Are you (unpleasantly) surprised when called upon and expected to engage in rigorous critical thinking and/or brain numbing document review?
3. Does your lunch time actually resemble a small party? That is, do your gather friends together, frequent a place with real silverware and perhaps enjoy an adult beverage?
4. Do you go to the gym when not reveling in special lunchtime parties?
5. Do you come in at 10:00 am?
6. Leave at 5:00 pm?

Now that we’ve established the diagnosis, let’s discuss treatment.

III. Treating Senioritis

The important thing to keep in mind when treating senioritis is that it’s temporary, and, generally, harmless. However, to ensure that there is no damage done to either your reputation or your networking relationships, bear in mind that it is your goal to leave your current firm with well-wishers and potential business contacts. You want to be missed. Not shown the door.

To do this, we recommend keeping in mind the following guidelines as you make your way towards the finish line.

1. Remember the original excitement that you had when you accepted your current position. At one point in time, it was your dream job.
2. Remember that your current firm invested in you and you developed your current, marketable skills under their tutelage.
3. Remember that you are still being paid. While supervisors understand and anticipate a certain amount of slacking off, it’s very important to complete the tasks that you’ve been assigned and to do them well.
4. Remember that “this too shall pass.” Senioritis is infamous for the death grip it can have over its victims, but again, it’s only temporary. You’re going to get through that last brief, last depo, last review of a purchase and sale agreement. Just hang in there!
5. Make the rounds. Now that you have some free time, use it to your best advantage. Pop in to offices, make some small talk. Chances are that people have been talking about your departure so beat them to the punch.
6. Thank people. Be sure to make your gratitude known to all the people that you’ve worked with during your time with the firm. Practice groups are like little colonies and it can be a difficult time when one of the members leave. Some folks may be taking on more work to cover you and a recognition of that fact goes a long way.
7. Be sensitive. While you are now starting a fresh chapter in your life, others are left behind slogging away. So, while a certain level of excitement is expected, be careful not to go overboard. Firms have feelings too. No tap-dancing on the conference table at your last calendar meeting.
8. Be proud. You’ve obviously done a terrific job at your current position which propelled you into the new one. Take a little time and think about all that you’ve accomplished. Remembering your achievements can also help any nervousness and fear about the next step. But that’s another article…..

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Wooing Your Prospective Firm

Me: Unfortunately the firm decided to pass on you today.

Candidate: Why? I thought the interview went well.

Me: They said you showed a lack of interest in the firm and that you didn’t seem excited to be there.

Candidate: What?? That’s crazy, I was totally excited about the firm. It was my first choice…
—-

I’ve always said that interviewing is a lot like dating. You need to show enough interest so that the other party is receptive to you, but you also don’t want to come off as desperate. Some of my candidates have encountered difficulty in displaying enough interest in a firm during an interview. On a couple of occasions, I’ve had firms say to me that they passed on someone specifically because the candidate appeared indifferent to the firm.

Interviews are not the time to play hard to get. Now I am not suggesting that candidates change their personality or feel pressured to act like someone they are not. Rather, I think it is important for attorneys to be direct about their interest in a firm. In your mind, you may feel that you are extremely interested in a firm and excited to be there. If these feelings are not communicated clearly to the firm, they will have no way of knowing how you really feel. Understanding doesn’t occur just because you say something, it evolves from communication that makes an impact on the other party.

Thus, for those of you who are a bit more reserved, make it a point to directly tell your interviewers that you are excited about this potential professional opportunity and why you like their firm. Even the most jaded of interviewers enjoy meeting with positive people who are enthusiastic about the prospect of joining their firm. Being too shy or reticent can easily be mistaken for being snobby or uninterested. Showing genuine interest in a friendly and confident manner, will take you far in an interview. Good luck out there!

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Next Stop Partnership

A former candidate of mine recently decided to go on a couple of interviews for positions that had opened up in his practice area. The firm we placed him with several years ago was a terrific choice for him initially. But as his seniority level rose, the size of the practice group and the unclear path to partnership led him to roll the dice and explore his options. He contacted me for suggestions the factors that should influence his decision making process at this stage of his career.

The biggest difference in the present is that any move he makes now will be his last stop before partnership consideration. That makes for an entirely different equation than the one we applied when he was a mid-level. For those of you that are senior associates, lateral partners or in between, here are some suggestions and questions you can use as a filter in your search process:

First, run the most thorough interview process you can, seeing several firms if possible. If you have the luxury of multiple opportunities, educating yourself on what is out there will add to your peace of mind whatever you ultimately conclude. It is in everyone’s best interests for you to make the most informed decision you can. Be forthright with prospective firms about your timeline and desire to find the best fit for your next professional home. When you put it in those terms, there generally is no problem.

Once you are ready to make a decision about an offer or offer(s) ask yourself the following and if you are working with a good recruiter, you already have the answers to the majority of these questions. Revisiting them once your options are more clearly defined can be very useful in making a decision:

How many partners have been made in the practice group in the last few years? (If the group is new or small that should be taken into consideration.)

Who else will be up for partner at the same time as you in any offices where they have attorneys practicing in the same specialty as you?

Historically, what is the track record over all of lateral attorneys being made partner or moving from non-equity to shareholder status?

How does your practice area fit into the strategic plans of the firm– and what is the focus in general of the firm’s practice? (Is your practice important to the firm? Why?)

What is the billing rate at the firm(s) you are considering? How will it impact your ability to build a book of business or originate work? What about any existing matters that you hope or plan to port?

How will your firm be positioned following the Presidential election? Depending on your practice area, the strengths of your firm, and the outcome of the election, this could have bearing.

When and upon what basis will you be considered for partnership?

What are the hour’s expectations for partners? How are partners evaluated? Is there a buy in?

Is credit given for client origination only, new matters from existing clients, servicing a client, and/or cross selling between groups?

What sort of debt does the firm have?

How are decisions made? Are you comfortable with the management structure of the firm?

Does your firm have a culture and a vision that is consistent with how you view yourself as a professional?

What are the firm’s goals and reasons for wanting to expand an area? Do they make sense and support the strategic plans of the firm?

The final step is to return for a visit to the firm or firm(s) you are most impressed with, offer in hand. Ask to speak with one or two laterals that came in with a similar set of circumstances or seniority level to you (the practice area is not critical for this purpose). Listen carefully to how things have gone for them and ask any questions you held back during the interview process. Look around you—are people smiling? Do they seem to be enjoying themselves? Can you see yourself here?

Things can look very different once a firm has asked you to join them and there is no longer the pressure of being in the hot seat. The post-offer visit can be critical in making the best choice. I am sure some of my colleagues may have additions to this quick list that they will add, but I hope this is useful.

Have a safe Memorial Day Weekend.

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It’s Who You Know

I’ve been a member of Linked In for several years and I have yet to make use of it. I generally accept the invitations that I receive; but beyond that, I don’t do much. And I don’t think that I am alone in this.

On the other hand, I do believe that Linked In is reaching a tipping point where it can actually be quite useful. Users of the service have now increased their pool of contacts so that there truly is a lot of potential value in mining the information.

Yesterday, I had an interesting conversation about this with a partner at a boutique law firm. He has been a Linked In member since 2003. But it is only in the past 6 months that he has discovered that his contacts have contacts that he would like to reach.

He also gave me a few good tips about Linked In. First, he suggested that it is important to look at job titles. If you want to reach key decision makers in organizations, then find the contacts who are linked to “C” level employees (or partners if you are talking about professional service providers.) Or maybe more broadly, if you want to make a connection with someone, make sure you ask for an introduction from someone who has contacts at the “right” level in the organization. Second, he suggested that before asking a contact for an intro, ask the contact if he thinks the individual can be helpful (in whatever way you need help.)

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The Twice Yearly Period of Celebration/Mourning

A moment of silence. California Bar Results came out last Friday. I received a rush of emails on Saturday from candidates whose searches were on hold pending Bar passage. They are the happy ones! I wish that passing the Bar guaranteed them their dream legal position. Now, the work begins to get that offer! The market is tight but not impossible. Having the Bar is huge for out-of-staters.

I wonder about the silence coming from the other candidates who were also waiting for Bar results. Twice a year, I wait for a few days… then gingerly check their names against the “pass list.” Not passing the Bar can floor people. It takes time to regroup and come to terms with the implications. My heart goes out to these folks. It can be a pivotal moment in some one’s life.

I always want to tell these candidates about stories of persistence and success. I want to remind them that different Bar prep programs work for different people. One of the best and most admired stories of Bar Passage Success came from an out of state attorney with whom I worked as an associate. I watched him go through the painful process of studying and barely missing the pass cutoff two or three times. He never lost his sense of humor. We were scheduling an event and checking his availability. When questioned whether he would be busy on a certain day a few months away, he gleefully exclaimed, “No problem, that’s my Bar Study off-season.”

His survival skills and confidence amazed me. And fortunately, he passed the next time around. What a great party we had for him a few years back around this time in May.

Congrats to many and do not despair if you were disappointed!

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Surviving Conflicts Checks (or not!)

In the past week, two of my “placed” candidates received the results of their conflicts checks and the news was not good. In each case the new firm bringing in the candidate found irresolvable conflicts that could not be surmounted with waivers or walls, etc. Not only was this a huge disappointment to both candidates (and to me!); the process took 3-4 weeks to reach resolution. During this time, the candidates had put their search on the back burner, put their thoughts into their new firm and had mentally and logistically started to change direction. It can be very hard to bounce back from this type of disappointment.

As much as we would all prefer to celebrate when an offer is received and accepted, it pays to not pop the corks until conflicts clear. The clearance process seems (in my experience) to be taking longer than ever and the challenges are more frequent. I am putting more emphasis on this issue sooner and sooner during the search process. It is prudent to discuss potential conflicts with an interested firm during the interviewing process. It is extremely smart to submit the conflicts information to the firm as soon as possible. You should not give notice with your current employer (or make big announcements to friends and colleagues about your new position) until conflicts have cleared. And you may want to keep interviewing with other firms, depending on your comfort level regarding a likely problem.

In my experience, this happens with about ten percent of my placements… not frequent, but often enough to be prudent and cautious and avoid getting blind-sided. It pays off emotionally and logistically to see the conflicts check as a last critical step in a sophisticated process.

May all your conflicts checks be clear!

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LinkedIn - Ramp It Up!

I am a fan of LinkedIn. I think that it has incredible potential to maximize an individual’s network. By linking your network with your the networks of your contacts - you can exponentially increase your contacts. Those contacts can help you find a job or a new client.

People ask me about the benefits of LinkedIn all the time. I really think that people are just beginning to mine the opportunities.

If you’d like to explore the possibilities, you might want to check out Jason Alba’s new book, I Am On LinkedIn - Now What? Jason has a blog in support of the book. Click here to view!

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The Downside of the Internet

Here’s a little secret: one of the first things a future employer will do is “Google” you. A good recruiter will Google you first - before the firm has a chance to do so. What is out there about you?

• Last week, I was recently speaking to an attorney who was interested in working with BCG on his job search. He is working at a big firm and was looking to make a lateral move. In our preliminary conversation, he mentioned that he had worked at two firms. After our conversation, I wanted to see what was out there about him - and I found that he had worked at a third firm as well. When I asked him about it, he asked me how I had heard about that. He was shocked when I said a ten second Google search. If I found it, any potential employer can find it as well. Be honest. Full disclosure.
• Yesterday, David Lat from Above the Law highlighted another unfortunate case. A 21 year old who is scheduled to begin Fordham Law School this fall was featured in The Horny Issue of Time Out New York. This information will come up on the Internet for years to come. This girl has already hurt her law career - and she hasn’t even begun law school or signed on the dotted line of her law school loans. Why would she want to handicap her future career prospects? Query whether a firm like Davis Polk would be interested in someone who has appeared in The Horny Issue or whether Fordham Law would want someone with such poor judgment. All types of people work at law firms - some with interesting and fascinating “hobbies.” What you do is your business - but it is better to keep it on the down-low.
• Recently, a candidate came to us and noted that he was gay, but that he didn’t want to advertise that fact to potential employers. (Note to job hunters: the vast majority of firms don’t care if you are gay.) Of course there isn’t any obligation for you to disclose your sexual orientation. It’s your business. Guess what? A super fast Google search. His sexual orientation disclosed to one and all. So, although he had intended to keep his orientation a secret, he really hadn’t.
• I am not going to even address the countless law students who have inappropriate photos and language on their MySpace or Facebook pages and other social networking sites. There are stories about those jobless people all the time.

Moral of the story? Always know what is out there about you! Do your best to control that information. If you don’t, you’ll be doing extensive damage control for a long time to come.

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Book Recommendation

Dan Binstock, one of BCG’s most successful recruiters, recently sent this around:

I am reading a really, really good book called “What Got You Here Won’t Get You There” by Marshall Goldsmith. Probably more “a-ha” moments than any other book I’ve read in a long time, and it has been widely recognized as one of the top business performance books of 2007.

Dan is so successful because he is always challenging himself to be better. He’s definitely the person from whom you’d want a performance book recommendation.

Here is a link the book on Amazon.

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