What Are Your Salary Requirements?

The question “What are your salary requirements?” is the interview equivalent of “Hands up!”  In many cases, the question does not arise because large firms adhere to a “lock step” system.  However, if you do need to field this question, there are several factors that you need to consider.

What Is Your Value?

Let’s assume for the moment that you are leaving “Big Law” to take a position with a small firm.  You are certain that you want this position because you really like the firm’s environment, practice, people, and location.  The only problem is that you have absolutely no idea about the salary range at this firm; and you are unsure how to respond to the question about your salary expectations.  Where do you begin?

First, how much money is your time worth?  In other words, are you going to a smaller firm because you will bill 1,700 hours rather than 2,100 hours?  If so, you can begin by deducting the value of those hours from your current salary.  Conversely, if you are moving from a firm with fewer hours to a firm where you will work much harder, what is the value of the increase in hours?  There are many factors like the foregoing to consider.  Are you joining the smaller firm because you will get much better experience, which in the long run will help your career?  Are you joining the smaller firm because it does not have an “up or out” mentality, and you can establish a permanent “home” and a more secure future?  Are you going to save time and money because the smaller firm is near your home?  You need to consider what you are gaining and/or losing and place actual monetary values on such gains and/or losses.  You will only be able to know your value if you truly evaluate the opportunity and its attendant advantages and disadvantages concretely.

What is Your Floor?

The desire to sell one’s self short is common.  Perhaps you are worried that if you ask for too much (or even for what is fair), then the potential new employer will opt to withdraw the offer.  The foregoing is unlikely because if you are discussing salary, then the potential new employer has made the decision to hire you because your skills, experience, and personality are a fit.  In this economy, you can be confident that you were selected from among a large and highly qualified pool of candidates. Thus, the likelihood of a rescinded offer is de minimis, and you can safely assume that you will enter into salary negotiations. During such negotiations, it is critical that you know your “floor”, i.e., the lowest salary that you can accept and be satisfied.  Bear in mind, I am not telling you that your salary floor is what you can afford, i.e., the lowest number that you can accept and still meet your monthly expenses.  Your salary floor is the amount that you can accept and feel satisfied that you are being fairly paid for the value of your services.

Who Should Make the First Offer?

Not you!  It is very important that you allow your potential new employer to make the first offer.  Often candidates are asked point blank “What do you expect in terms of compensation?”  It is difficult to avoid the question once you are in that situation, but I do have some suggestions.  You could try to defuse the situation with humor.  “Well, I never like to negotiate against myself so perhaps you could tell me what you would like to offer?”  I recommend only attempting humor if you are one who often resorts to levity!  If you do not, then you can say the same thing in a very straightforward manner. “Well, you have much more information that I do about your pay structure and the value of your benefits package so perhaps you could tell me what you believe is a fair salary for a candidate with my skills and experience?”  The key is to allow the new potential employer to make the first offer because they really do have much more information than you, and it is unfair to ask you to make the first offer absent such information.

Conclusion

I am not suggesting that negotiating your salary is easy, far from it.  Rather I am suggesting that if you truly analyze your value, know your floor, and force your potential new employer to make the first offer, then your salary negotiation will be far less daunting.

Calling All New York City Patent Litigators

Presently, there are at least twenty five major firms in New York City that are actively seeking patent litigation associates.  In addition, there are probably at least as many smaller firms that are actively seeking patent litigation associates.  What does this mean?  It means that if you are a patent litigation associate and you are not absolutely thrilled with your current position, then it is a fantastic time to commence a job search.

The factors that you need to consider are how much experience do firms generally require, what science backgrounds are most in demand, and does a boutique or large firm make more sense for you.

How much experience do New York City firms require in a lateral patent litigation candidate?

There are no absolute rules regarding the number of years of experience for patent litigation candidates because there are simply not enough of you to fill the growing demand.  I have seen firms whose position listings state “three to five years of experience” hire candidates with less than two full years of experience.  The reason is simple: scarcity.  Thus, if you are interested in a particular firm, but fall either below or above the stated number of years of experience, do not be discouraged.  You should submit your resume because it is highly likely that you will be asked for an interview.

What science backgrounds are most in demand in New York City for patent litigation candidates?

The science backgrounds most in demand in New York City for patent litigation candidates are Electrical Engineering and Computer Science.  Furthermore, while advanced degrees in these areas are a plus, they are often not required, as most firms are satisfied with undergraduate degrees in either of these two disciplines.

Patent litigation candidates with life science backgrounds – Biology and Chemistry- are not as in demand.  Moreover, when firms are looking for these types of candidates, they often require advanced degrees.  There does appear to be a burgeoning increase for patent litigation candidates with life science backgrounds who have experience with the pharmaceutical industry, especially experience with Abbreviated New Drug Applications (ANDA) and/or Hatch Waxman litigation.

Does a boutique or large firm make more sense for you?

Both options have their merits and in large part, what you want as a lateral may depend upon what your experience has been to date with your current firm.  I have spoken with large firm candidates who are far more interested in joining a boutique because they feel that they have not had the proper mentoring at their large firms.  The foregoing is especially true if a candidate is the only attorney at his firm with a Ph.D. in Pharmacology (or Computer Science, Electrical Engineering, or any other discipline) because there is no one who can adequately monitor his progress!  Conversely, I have spoken with candidates who began their careers at intellectual property boutiques and they are very eager to move to a large firm situation where they are “unique” and can carve out their own niche.

Conclusion

If you are a New York City patent litigation associate with an Electrical Engineering or Computer Science degree who has one full year of experience and you are not 100% satisfied with your current position, then now is an excellent time to commence a search for a new position because YOU are most definitely in demand!

Top Ten Interview Questions

When I am preparing a candidate for an interview, we discuss many topics ranging from the trivial, i.e., what should one wear, to the critical, i.e., how to respond when asked why you are leaving your current employer.  Obviously, the manner in which these topics are handled is different for each candidate because each candidate is unique.  There are no standard answers.

However, there is one topic – the questions that a candidate should ask his interviewer – where I do repeat myself often.  I have a couple favorite questions that invariably earn high marks from my candidates during their post-interview debriefings.  In order to have more than a couple great questions at the ready, I decided to ask my fellow BCG recruiters about their favorite questions. My goal was to develop a list of truly outstanding questions – my “Top Ten” if you will – designed to impress the interviewer and make my candidate more memorable – a key feature in a competitive market if one hopes to secure an offer.

Before I get to my Top Ten Interview Questions, I need to discuss the more mundane questions that you may want to ask at some point during the process as well.  For example, you probably do want to ask about how work is assigned, how feedback is given to associates, when you will get client contact, and how deals are staffed (partner to associate ratio.)  I do not mean to disparage these questions.  They are important and will provide important information about whether any particular position is right for you.  However, nearly all candidates ask these questions and you want to be able to set yourself apart from the crowd.

To that end, you may want to employ one or more of the following questions which should elicit thoughtful and animated responses.  The questions are not in any particular order so they are not truly a David Letterman “Top 10”.  Rather they are questions which, based upon your interviewer’s personality and the general tenor of the interview, you may opt to use in order to make your interview notable.  Without further delay, my Top Ten Interview Questions are as follows:

1. What has been your most exciting experience working at this firm?

2. Is there anything that you did not know about this firm when you joined that would have been helpful or good to know?

3. If you and I were to work together on a matter, how would you utilize an associate with my skill set?

4. If I meet your expectations, what career growth can I reasonably expect?

5. What precipitated your hiring need right now?

6. Why did you choose this firm?

7. Of which accomplishment is this firm most proud?

8. Where could you use the most support in your practice right now?

9. How would you characterize the culture and philosophy of the firm?

10. What is your favorite part of your job?

I cannot stress the importance of engaging your interviewer in thoughtful conversation and these questions go a long way toward said goal.  You may not want to use all of them (or any of them) if the interviewer does not seem amenable to innovation.  However, commit them to memory in case you want to use them, as you may be pleasantly surprised by how these questions can turn an interview around for the better.  Good luck and remember – there are no stupid questions!

Resume to Interview Ratio – Think Baseball!

Ideally, you should interview with four to six firms, get two to three call back interviews, and ultimately accept one position. By meeting with four to six firms, you are giving yourself the opportunity to compare firms’ cultures, practices, and potential future colleagues; and thereby increasing your chances of making a truly informed decision. Changing jobs is a big deal and you want to make sure that you have done everything possible to secure the position that best suits you and your career objectives.

So, in a market that remains challenging, how do you get four to six interviews?  You get four to six interviews by submitting a lot of resumes.  Your resume to interview ratio is very much like a batting average.  The players with the highest batting averages in Major League Baseball this year were Miguel Cabrera for the American League and Buster Posey (best name ever) for the National League.  Cabrera’s batting average was .330 and Posey’s was .336.   The best career batting average ever recorded in the history of baseball goes to Ty Cobb coming in at .366.  It is important to note that that these players are and were superstars and even they only managed to hit the ball a little over three times for every ten times at the plate.  The “average” player (and let’s not forget that even your average MLB player is super talented and was most likely the fair haired boy of his hometown) generally hits somewhere in the .250 range.

What does the foregoing mean for you?  Well, if you are superstar (top five percent of your class from a top ten law school, a member of law review, and a federal clerk), then you need to submit at least twenty resumes to get six interviews.  If you are not a superstar, then you probably need to submit at least thirty resumes to secure six interviews.  Obviously, the resume to interview ratio (unlike batting averages) is not an exact science.  However, I have worked with enough candidates through the years to know that the more resumes you submit, the more interviews you will secure, and that your odds of getting the best possible job increase dramatically.

When candidates do not submit a lot of resumes, they are often surprised by the fact that they only get one interview and sometimes no interviews.  I believe that many candidates are surprised because if they are conducting their first search since law school, they are under the impression that their on campus interviewing experience will be repeated.  It will not.  When firms are interviewing second year law students on campus, they are generally trying to fill a summer associate class which means that they have anywhere from forty to one hundred “open” positions.  Lateral interviewing is an entirely different “ballgame” since firms are usually trying to fill only one or two positions, and they receive many resumes for each position.

It is critical that you submit as many resumes as possible.  Failure to do so is a disservice to yourself and, in all likelihood, will adversely affect your search.  So . . . get your resume out there to as many firms as possible and “Play ball!!!”

How Do I Create Conversation from Research during Interviews?

It is elementary that once you have your interview schedule, you should find out as much as possible about the attorneys with whom you will be meeting.  At a minimum, you should review their biographies on their firm website.  You can supplement this basic research by doing an internet search in order to find out more information (e.g. articles, speaking engagements, recent newsworthy cases or transactions, philanthropic activities, community involvement, etc.)  The internet is a wonderful tool so use it!  Assuming that you have completed this non-negotiable and extremely important preparation for your interview, how do you use all your hard work in a seamless and natural way in order to succeed on your interview?

I wish I had an easy answer, but unfortunately I do not, as every interview is a unique odyssey; and you may or may not be able to effortlessly (or at least seemingly effortlessly) interject your interviewer’s latest triumph into the conversation.   Often candidates are too eager to demonstrate they that have done their research; and while I am sympathetic to their desire to “show” what they know, an awkward soliloquy about your interviewer’s background is not conducive to a lively exchange of ideas (i.e. a good interview!)  It is far better to play it cool and ask general questions your interviewer’s practice. (E.g. “It is my understanding that you focus primarily on white collar defense, and I am wondering about the types of cases you are handling presently?)  As your interviewer begins to regale you with war stories about his practice, you might find an opportunity to reference the fact that you are aware of a particular case because you – like him – work in the white collar defense realm and share his interests and passions.

If you are bound and determined to work in the fact that you have done your research (and are not willing to hope that the opportunity arises organically), then please know that there are ways to do it that are on the opposite end of the spectrum from the awkward soliloquy!  For example, if you regularly write articles or serve on panels and you know that your interviewer does too, then you could reference this common ground in a way that is leading somewhere and is not just a recitation of your research.  For example, you could say “I noticed when I was preparing for our meeting that you often serve on panels discussing recent developments in real estate.  I often serve on panels too, and I am wondering – as a new lawyer – how serving on panels has enhanced your career?”  What a great question!  You will not only get some valuable career advice for free, but you will have demonstrated that you did your research and have something in common with your interviewer.  It is critical that any direct references to your interviewer’s background are phrased in a way that will engender an animated response from your interviewer, not create an uncomfortable silence!

However, please remember that regardless of whether you are able to casually reference your interviewer’s most recent quote in the Wall Street Journal, knowing as much as possible about your interviewer will inform every aspect of your interaction in a positive way.  Never forget that knowledge is power and the more you know about your interviewer, the more likely it is that you will succeed on your interview!

So You Want to Switch Practice Groups?

As a recruiter, I speak with many candidates who want to switch practice groups and unfortunately, this professional dilemma is becoming more common.  Many candidates who joined firms within the last five years were not given much choice regarding their initial practice group selections.  Economic times were (and remain) tough; and their choices were dictated by which groups had enough work to keep them busy and employed.  It is fairly obvious that you have the greatest chance of professional success if you like your work so  . . . if you are working in an area of the law that you do not enjoy, then you need to make a change.

Investigate Internally and Be Realistic

I started my legal career as a litigator.  However, after four years, I realized that I did not really like to argue with people.  I am not sure why it took me four years to have this epiphany, but I digress!  I decided that I wanted to switch to a transactional practice and began to do my due diligence.  I quickly discovered that the M&A group at my firm were super busy and actively hiring.  In an ideal world, I probably would have chosen real estate or perhaps even investment management, but those groups were not realistic options at my firm at that time.  I chose to pursue the M&A group because it was the group where I would have the best chance of transitioning to a transactional practice.

Evaluate Yourself and Proceed with Caution

Once I made my decision to join the M&A group, I had to plan my approach and I knew that two things were required: a brutally honest assessment of my skill set and standing at my firm, AND diplomacy worthy of the Foreign Service!

Self-Evaluation

With respect to standing, I knew that partners liked me and that even though I did not like litigation, my work product had not yet suffered from my aversion!  However, I knew that being well liked was not enough.  I needed to review my skills and make a compelling argument about how my experience as a litigator was not only transferrable but actually useful in an M&A context.   Fortunately, I had done a lot of complex commercial litigations involving deals that had gone awry.  Given my experience, I was able to make the argument that my skepticism (aka “jaundiced eye”) would be an incredible asset when negotiating terms and drafting deal documents.

I am a big believer in having three strong points behind any argument.  This belief may stem from my Catholic background!   My presentation to the M&A group was that I was a known quantity who (1) was a well-liked team player; (2) did good work; and (3) would bring a fresh and valuable perspective to the practice.  If you want to switch practice groups within your firm, then you need to conduct a similar self-assessment and figure out how your skills could be put to use, or perhaps even give you an advantage, in your target practice group.  It is not enough to say “Well, I think I will like X group because I have heard very good things about it.”    You need to evaluate yourself and make a compelling case about the ways in which you will benefit your target group.

Diplomacy

There are risks when you ask to join another group at your firm so you must proceed with caution and be very diplomatic.  First, you must be certain that your target group has enough work to warrant bringing another associate on board.  Obviously, it is even better if you know that your target group is actively interviewing candidates from outside the firm.  Here is your opportunity to save your firm a recruiter’s fee!

When I was ready, I told my favorite litigation partner about my plan.  I did most of my work with this partner and trusted him.  I figured that if the M&A group did not want me, then my secret would be safe with this partner while I tried to make my move to a transactional group at another firm.  It was a risk, but a bigger risk for me was having this partner hear about my proposal from anyone other than me.

My next visit was to the partner who was the head of the M&A group.  I was lucky because this partner was also the managing partner and his office was on my floor quite close to my own office.  He was a gregarious person and we had become friendly from passing each other in the hallway every day.  I made my pitch; told him that I had already informed the litigation partner with whom I did most of my work; and crossed my fingers.

Conclusion

I was allowed to make the move to M&A; and I remained with the group for four years.  My transition from litigation to a transactional practice was successful because I followed a very simple formula.  I selected a group where there was a need; I figured out how to best package myself to fill that need; and I was extremely diplomatic!

Should I Submit My Resume Through a Friend?

I have fielded this question for over ten years, and my answer remains the same: it depends!  The good news is that you can make an informed decision and, though it is a statement against my own self-interest as a recruiter, there may be situations in which it actually is better to submit your resume through a friend.  However, in order to determine whether you are in one of those situations, you may want to ask yourself the following questions.

How is your friend perceived at the firm?

Your friend may be a wonderful person but do you really have any idea what his employer thinks of him?  He may even have been the star of your law school class, but academic success does not always translate into professional success.  If you choose to submit your resume through a friend and he is not highly regarded, then it is very likely that your candidacy will not be highly regarded.  It might be unfair and hark back to the old “birds of a feather” cliché, but you may have lost the opportunity for an interview simply because you were presented by the “wrong” person.

At this point, you may be asking yourself the following question: How do I know how my recruiter is perceived by the firm in question?  The answer is that you can ask your recruiter probing questions.  How long have you worked with ABC Firm?  How many placements have you made with ABC Firm?  Have you ever had any problems with ABC Firm that would negatively affect my candidacy?  These are questions that you should ask your recruiter, but they are questions that you could never ask your friend (that is if you hope to remain friends!)

Will your friend expend his own political “capital” for you?

Let’s assume for the moment that you have navigated the first hurdle:  your friend is one of the best associates in his group and your candidacy will only benefit from its association with his name.  You submit your resume through your friend and then the waiting game begins.  What happens if your resume gets lost in the recruiting department?  What happens if your resume ends up sitting on a partner’s desk for three weeks?  What happens if you get another offer and want to use it as leverage to get your friend’s firm to move faster?  What will your friend do in these situations?

In all likelihood, he will not do much for two reasons.  First, your friend will not want to be seen as a nuisance at his own firm simply to get you an interview.  He has his reputation to consider and he will not jeopardize his own standing with his partners and colleagues for you.  Second, your friend is busy with his own duties and responsibilities at the firm and simply does not have time to track down your materials and monitor your progress.

On the other hand, a recruiter is your advocate, and firms expect recruiters to behave accordingly.  It is a recruiter’s job to make sure that your resume is being reviewed by the appropriate people in a timely manner, and to keep the firm informed about the progress of your search (i.e. whether you have other interviews or offers.)  It is against your friend’s self-interest to act on your behalf whereas it is in your recruiter’s self-interest to act on your behalf; and these very different motives could yield very different results during your search process.

Is your friend really your friend?

The term “frenemy” has become part of our popular vernacular and it is a great word because relationships are complicated.  Friends often harbor a range of emotions toward each other, and you need to ask yourself whether your friend truly has your best interests in mind when he offers to submit your resume to his firm?  The idea that your friend may have a hidden agenda is not a pleasant thought and may even offend you; however it is definitely something to consider.

The recruiter may have an agenda, but it is not hidden.  The recruiter’s livelihood depends upon your success.  The alignment of your goals guaranties that the recruiter will take all necessary steps to ensure that your candidacy is handled in a professional manner; and that you are consistently portrayed in the best possible light throughout the search process.

What else will your friend do for you besides submit your resume?

Will your friend conduct a mock interview with you?  Will your friend tell you how particular partners usually conduct themselves during an interview?  Will your friend even know how particular partners conduct themselves during an interview?  Will your friend discuss common mistakes often made by lateral candidates?  Again, will he even know what those mistakes are?

Your friend, like you, is an attorney and even though he is a wonderful person who is viewed as the best associate in his firm, always puts his friends’ interests before his own, and has never harbored an unkind thought about anyone (and especially not you), he does not have the expertise to guide you through the search process.  Recruiters spend a lot of time preparing candidates for interviews and consequently, we know the questions that are asked, the partners who are difficult, and the pitfalls to avoid.  You would not call your recruiter to form your company, draft your bylaws or issue shares to your shareholders, so why would you call your friend (even if he is the best person on earth) to do the job of a recruiter?

What happens to your relationship with your friend if you decide not to join his firm?

At the outset, you may think that your friend’s firm is your top choice and that you will never be faced with this question.  However, you may want to rethink your position. Have you ever met his partners?  Are you joining the same group?  How alike are you and your friend in terms of work habits, schedules and expectations?  If your friend makes the introduction to his firm and then you opt not to accept because you have found another firm that is a much better fit for you, how will your rejection of the offer from your friend’s firm affect your friend?  Will his standing at his firm be diminished or damaged because of your rejection?  How much pressure will you feel to accept the offer from your friend’s firm even if you like another offer more?  If you do reject the offer, will your friendship survive?

Your relationship with your recruiter is professional.  Your recruiter has worked with many candidates and knows that the search process is a learning process.  Your recruiter has seen candidates change their minds repeatedly during the process, even to the point where after meeting with their five “top choices”, candidates decide to stay with their current firms, firms that they may even have claimed to loathe at the outset of the process!  In short, recruiters have seen it all, and you do not need to worry about how a recruiter will react to your rejection of any given offer.  Sure there may be recruiters who react negatively and try to pressure you, but these recruiters have overstepped their bounds, are not behaving in an ethical manner, and if your relationship is damaged, is it really a loss?

Conclusion

There may be situations in which it is preferable to submit your resume through a friend. However, in order to determine whether you are in one of those rare situations, you need to ask yourself a variety of questions and evaluate factors that may make you uncomfortable. Or you could simply work with a reputable, ethical and professional recruiter!