Lateral Attorney Report

A Hot Practice Area for the Economic Downturn

noreply@blogger.com (A. Harrison Barnes) — Fri, 21 Nov 2008 18:48:00 +0000

On a meeting with our BCG Attorney Search recruiters earlier this week we discussed the candidates who were getting the more interviews. Without a doubt the "hot" market right now for associates is labor and employment. I also had dinner earlier this week with the recruiting director of a large national law firm here in Atlanta. He said that labor and employment is so out of control in terms of its business it is incredible.

The great thing about the legal market is that the work moves around. When one practice area is experiencing issues another starts to get better. This is what is happening with labor and employment.

When people get laid off some file lawsuits against their employer. This is making labor and employment firms busier and busier. In addition, when companies and law firms prepare for large scale layoffs they hire labor and employment attorneys to assess the situation. Given the dire predictions for the 2009 calendar year and the increasing layoff in the market, I think this is going to be a great year for labor and employment attorneys.

What does this mean for you?

If you are in general commercial litigation do your best to get some labor and employment cases under your belt asap--this will make you more marketable. If you are a law student you should press for jobs in this field.

Labor and employment is going gangbusters. This is great news for labor and employment attorneys because you are now very, very marketable.

Analysis of Law Firm Failures - Early Warning Signs

noreply@blogger.com (Tricia McGrath (NYC Office)) — Fri, 21 Nov 2008 17:53:00 +0000

There has been a great amount of discussion lately about the implosions of Heller and Thelen, and the effect that the economy had on these firm failures. As many firms are courting lateral partners (it's a brisk lateral partner market!), these partners are analyzing the stability of potential firms.

A new study from Hildebrandt International should provide an interesting base for such an analysis. In a recently-released white paper entitled The Anatomy of Law Firm Failures, Hildebrandt discusses a study of firm failures between 1998 and 2004. Hildebrandt concludes that "failed firms typically exhibit one or more major fundamental flaws, and the flaws usually fall into three primary categories:

Below average financial performance - often including excessive financial leverage, significant deferred obligations, low productivity, and poor realization;
Internal dynamics - primarily involving leadership issues, partners with incompatible goals, differences over compensation philosophy, and lack of succession planning; and
External dynamics - primarily involving competitive pressures related to the firm's historical client base, access to new clients and desirable work, and inability to recruit key talent."

Hildebrandt states that certain triggering events brought these flaws to light.

"Four types of triggering events were the most common: (i) overexpansion that weakened the firm over an extended period of time, (ii) the unexpected rapid or gradual defection of significant partners to one or more other firms, (iii) a breakdown in merger efforts for a firm that was already in serious financial distress and barely surviving, or (iv) the impending expiration/renewal of the firm's primary office lease."

Lateral partners, especially those contemplating their first lateral move, should consider these fundamental flaws and triggering events when formulating their diligence questions for a potential suitor!

Separating the Message from the Messenger

noreply@blogger.com (Steve Seckler (Boston Office)) — Fri, 21 Nov 2008 15:05:00 +0000

When times are good, law firms are less inclined to use performance reviews to terminate associates; but that was then and this is now. At BCG offices across the country, we are receiving a growing number of phone calls from associates who have been let go for performance reasons.

In prior economic downturns, I have witnessed the devastating effect that these terminations can have on a lawyer. Whether someone is a partner or an associate, being told that you don't have what it takes to succeed at a firm is a terrible blow to the ego.

In some instances, these terminations are truly unfair and may be serving as a smoke screen for law firms who do not want to send the message that they have hit hard financial times. But in most cases, there is something to be learned from the dismissal.

The takeaway, if you are in this unfortunate position, is to listen carefully to the review. There may be something you can learn that will be helpful to you in your next position. It is hard to listen objectively when you believe you are being treated unfairly. But there may be some truths that can help you be more successful in your next job.

Creative Ways to Increase Employee Departures

noreply@blogger.com (Tricia McGrath (NYC Office)) — Fri, 21 Nov 2008 00:36:00 +0000

As we deal with a challenging economy, both law firms and companies are not experiencing the expected annual departures from their ranks. Each year, a law firm can count on a percentage of associates heading to greener pastures. But, as there have been fewer opportunities for associates this year, many have chosen to hunker down and ride out the economic storm at their current firm. Unfortunately, that doesn't really mesh well with law firms' business models. Imagine if no one left your firm and the firm continued to bring in sizable summer classes? That would be a lot of people on line in the lawyers' dining room (a nod to my old firm and its lovely cafeteria.)

The obvious way of forcing attrition is layoffs. Many firms have utilized this method lately. But other law firms and companies have become much more creative. For example:

1. Announce to your company's employees that, at some indefinite time in the next year, 53,000 of them will be without a job. Citigroup announced this plan on November 17th, and a flood of resumes hit the street.

2. Announce to your firm's non-equity partners that they must contribute a sum of money (rumored to be $150,000) to the firm and become equity partners who generate business. DLA Piper announced this yesterday to a decidedly mixed response.

3. Announce to your firm's associates that, not only are their bonuses for 2008 lower than they would like, but that they should not expect bonuses for 2009. Cravath announced this tonight, and we'll expect to see resumes trickling out of Cravath in the next few months as management no doubt hopes.

All of these are creative ways to cut headcount. I expect that we will see more creativity in the upcoming months!

Bonuses Going Down at Skadden

noreply@blogger.com (A. Harrison Barnes) — Thu, 20 Nov 2008 18:57:00 +0000

Bob Sheehan, the executive partner of Skadden, sent an email to every associate and partner in the firm today discussing his plans to pay bonuses similar to 1997 levels without the addition of a special bonus:

“We will pay the year-end discretionary bonus at the same levels by class seniority which associates received in 2007 and 2006. However, we do not think it is appropriate to repeat the “special” supplemental bonus that was instituted last year. That bonus reflected a strong and growing economy that contributed to a record level of profitability.”

I have a feeling we are going to be seeing a lot more of this as other firms follow suit. Things are getting very scarry in the legal market for many attorneys and the level of people being asked to leave firms for economic reasons is the highest I have ever seen. I am surprised many firms are paying bonuses at all.

I know of a small firm that several years ago wanted to pay Christmas bonuses but had no money. They decided to fire an associate they did not like and then paid every associate in the firm a $2000 bonus representing the fired attorney's annual salary divided by the number of lawyers in the firm. Let's hope this does not happen at many firms this Christmas!

Vetting Partner Candidates

noreply@blogger.com (Danice Kowalczyk (New York Office)) — Thu, 20 Nov 2008 17:36:00 +0000

The Wall Street Journal posted an article this week about the increased strictness with which corporations are vetting their new hires. While focusing on corporate environments, in particular, the messages set forth in this article are of particular importance in the law firm sector as law firms move away from their traditional "law firm business models" and toward a more "corporate business model."
Simply put, we are seeing more and more firms adopting a strictly business, bottom-line approach to things. This includes hiring.

To that end, the message we are seeing is that a candidate's materials (particularly candidates at the executive or partner level) are being looked at much more closely. There is no leeway in resumes for inaccuracies, inadvertent omissions, vagueness, or mistakes. Likewise, in business plans, there is no leeway for promises in lieu of proof of actual business and potential future business.

This is incredibly important for partner candidates who may rely, to their detriment, on old business plans or non-updated resumes during their job search. As firms direct a more focused eye on partner candidates' materials to set candidates apart, it goes without saying that the most important weapon a partner can have in his or her arsenal right now is a stellar resume and business plan. Any partner that is aware of this fact and takes a few extra days before beginning their search to get their resume, deal sheet and business plan in top form will rise above the pack. For some this is par for the course, for others it's not, and it warrants repeating.

The National Law Journal seconded The Wall Street Journal article referenced above with some careful words of their own on November 17th. The short message to a long story: The lateral vetting process has become tougher in the down economy as firms want to ensure that they are picking up attorneys at the top of the scale.

Be aware of this fact and respond accordingly. The rules of the game are changing at every level. It's important to understand the nature of the field you are playing on in 2008 and going into 2009.

Income Partners to Get a Piece of the Pie?

noreply@blogger.com (Steve Seckler (Boston Office)) — Thu, 20 Nov 2008 14:58:00 +0000

The National Law Journal reports today that DLA Piper may be asking non-equity partners to make a capital contribution to the firm. In return says Frank Burch, DLA Joint Chief Executive Officer, they will get a limited stake in the firm's profits.

Traditionally, non-equity partners are paid a salary and don't get to share in the profits. This move, which is yet another sign that things are changing quickly in the legal profession, is an effort to reduce the firm's reliance on bank financing. Keeping debt low through larger capital contributions is nothing new. There are a number of AmLaw firms that already manage themselves with this philosophy. What is new here is trying to spread the burden to a lower tier of partner. While DLA says the move is preemptive (i.e. they still enjoy relatively favorable interest terms in the credit markets) I suspect other firms will follow if credit remains tight for the next year.

Math for Lateral Partners

noreply@blogger.com (Tricia McGrath (NYC Office)) — Wed, 19 Nov 2008 21:31:00 +0000

The lateral partner market is a flurry of activity right now. We are currently working with a number of lateral partner candidates. The most frequent concern among partners conducting a search? How to value their book of business in strange economic times. My colleague, Dan Binstock, just wrote a fabulous article on this very issue. In We Were Told You'd Bring Billables, Dan addresses the most effective way to value your book so that you are representing yourself in an honest, accurate and marketable way.

Look for Opportunities Where Others Do Not See Them

noreply@blogger.com (A. Harrison Barnes) — Wed, 19 Nov 2008 19:16:00 +0000

One of the most frustrating things for me in this current economy is the fact that so many attorneys do not see all of the opportunity that is out there. I want to be very, very clear with you: There are opportunities for all types of attorneys in the current market. Regardless of your practice group or experience level, there are numerous opportunities for you to find excellent positions in this market. Finding postitions for people in all markets is exactly what talented recruiters do.

You need to understand that even if you are in a legal practice group that is slow and there do not appear to be a lot of jobs in your market there is a very good chance that this is localized. The problems with your practice group are either localized to the type of market you are in or they are localized to the the region of the United States (or world you are in). The worst thing you can do is feel as if there are no opportunities.

I have recruited attorneys in the worst of economies and can assure you there are always opportunities. If you are at a small firm that is going under (or has laid you off) there is a very good chance there are opportunities for an attorney like you in a larger firm in your geographic area. Conversely, if you are at a large law firm the chances are very good there are opportunities for you at a small law firm. If you are in a small city there are opportunities in larger cities and if you are in a large city there are opportunities in a smaller city.

Anthony Robbins, the famous motivational guru, did not begin to get famous and gain serious traction in his career until he started doing something that sounds crazy to many people: He started giving 10% of every dollar he earned to charity. While this is something that certainly brought him a lot of positive energy, it is also something that he credits with teaching him to think in terms of abundance and not scarcity.

A good recruiter (and we are good recruiters at BCG Attorney Search) thinks in terms of abundance. You should think in terms of abundance as well. There is more than enough to go around and this opportunity is everywhere... You need to take it and go after it!

I read this morning in the National Law Journal about the fact that there is still a ton of business in places like Dubai and China and lots of American attorneys continue to get offers there. Sometimes you need to go elsewhere to find opportunity. Most Americans families at some point came to this country because they believed they could find opportunity here.

Opportunity exists here and it exists for all attorneys. You need to go after this opportunity and see this opportunity where others see obstacles.

Thank you Hewlett Packard

noreply@blogger.com (Deborah Acker (SF and Silicon Valley Offices)) — Wed, 19 Nov 2008 17:44:00 +0000

Hewlett Packard is a family friend in these parts. I have a picture of my mom and dad sitting between the two founders back in the 50's.

So, news of their unexpected positive earnings report yesterday was received with a bit of smugness here. The stock market rallied, the commentators were suddenly projecting that the tech sector may be a primary player in pulling us out of a recession.

Does Wall Street and the national media really "get" the mood and business culture in Silicon Valley? Often, what is happening in D.C. and N.Y. feels very far away. The pioneer spirit is alive and well here. This translates into stubbornness and determination to survive no matter what challenges appear before you. Bring 'em on. It also translates into creativity, "nimbleness" and an ability to respond quickly to new conditions.

The legal market in the Bay Area is in the middle of rapidly redefining itself in a fundamental way. Probably for the better. In the last week requests for skilled attorneys are on the upswing here. We are getting a sense of the new playing field. Local offices are starting to write modified strategic plans in ink and calling recruiters to staff up.

Don't let yourself get entirely bogged down by the national news. Keep an eye on the Bay Area. We are always full of surprises.

The State of the Economy

noreply@blogger.com (Steve Seckler (Boston Office)) — Tue, 18 Nov 2008 13:55:00 +0000

The ABA is surveying the legal community about the state of the legal profession and the state of hiring. They have asked us to help publicize the survey. Results will appear in the January issue of the ABA Journal. Click here to participate.

Who Wants Partnership Anyway?

noreply@blogger.com (Steve Seckler (Boston Office)) — Fri, 14 Nov 2008 16:47:00 +0000

A law firm strategy consultant at Altman Weil talks about a new generation of lawyers who are largely uninterested in partnership. At the same time that equity partnership has become less attainable at many firms, it is also considered undesirable by many associates. And attaining the brass ring is no longer a guarantee that you get to keep it. Partners need to continue to contribute to their firm's bottom line if they want to remain in the partnership.

Ironically, though, it is partners with portable billings who have the greatest amount of mobility. This is particularly true in our current economy where demand for lateral associates is very low at the moment. (See Lateral Market is Officially Flooded).

But things can change quickly. My own personal prediction is that the second half of 2009 will be booming with litigation and demand for litigation associates.

Notworkenoughtofillthedaylius

noreply@blogger.com (Melinda Hudspeth) — Thu, 13 Nov 2008 22:20:00 +0000

I remember the devastating day it happened: I had reached the end of the internet. You are probably getting the wrong impression of me. I am not a huge fan of the internet, and, under normal circumstances, I don't spend much time on it. But a few months ago, I was an addict. To make matters worse, my condition was highly contagious. The other associates that worked in my section at my old firm suffered from it as well.

What, you ask, was the cause of this widespread plague, and how can I keep it from infecting me and my co-workers? I'm sad to report that there is no known cure at this time, but it is at least helpful to know the cause. The medical name is notworkenoughtofillthedaylius. It's street name is "bored out of my mind."

So, how did it begin to spread at my firm? It started with the departure of several of the partners in my section. Not all the partners, mind you, just the ones with business. What followed was several months of reassurances from management that, despite the fact that we were all sitting around twiddling our respective thumbs, our jobs were secure. They informed us that they were working to fix the problem. So, my fellow associates and I waited. And waited. And waited. In our offices. In front of the computer. With nothing to do. Computer screen beckoning. We seemed to collectively figure out that although we had no memos to revise, our Facebook pages needed some fixing. And our Linkedin pages. And our...I'm sure you understand the genesis of our disease by now. Sadly, given the lack of work and number of layoffs proliferating, you are not immune.

"Bored out of my mind" syndrome has other known symptoms besides excessive internet use. For instance, you may experience lack of interest in making nicey-nicey with partners, frequent two-hour lunches, or inability to make it to the office before 10 am. Additional symptoms include frequent coffee breaks, "working from home" approximately once a week, and excessive happy houring at approximately 4 pm.

Those infected with the disease often mistake it in the early stages for elation. They erroneously think, "This sure the heck beats 60-hour weeks in the salt mines!" However, as the weeks draw on, then the months, they see the truth. Seven-day work weeks start to seem like heaven on earth.

The truth is, the disease bears many similarities to depression. Let's face it--going to work and having nothing to do for endless hours is no fun, and anyone who has been in that position would agree that it's much worse than being superbusy. What's worse, having nothing to do allows the mind to go wild. Suddenly, all you can think about is how long the firm will continue to sign your paycheck. You are terrified that the ax is going to fall, and you have no work activities to divert your mind from that sense of doom.

Having experienced this condition myself, I sadly don't have much advice as to how to deal with a slow legal market. I think what got me through the situation was simply knowing that I wasn't alone. Everyone I worked around was experiencing the slow down as well, and, as the saying goes, misery loves company, right? More importantly, even at the darkest hour, I think I fundamentally knew that I would find my way out of it. And, although it took longer than I would have wished, I did. You will, too. I'm not saying that you can avoid a layoff through sheer force of will. I wish you could, but you can't. I am certain, however, that whether you are laid off or stuck in your office worrying that you will be, the market will turn around and you will find work. That's really all I have for you, so now you can get back to the internet.

Forgotten Resources in Lean Times--Professional Organisations

noreply@blogger.com (Deborah Acker (SF and Silicon Valley Offices)) — Wed, 12 Nov 2008 23:57:00 +0000

How many of us become stuck in the same old patterns at work and at home? And we forget about some very helpful resources that might be extremely valuable in challenging times.

The ABA website just did that for me. I was thinking about how to get energized and stay optimistic in this challenging market, how to connect with new people, how to get my CLE under control without spending a fortune, and how to approach holiday spending and traveling with a budget in mind. Something reminded me to look at the ABA website.

The ideas and resources available on that website continue to expand in breadth and depth. The member benefits are significant in these lean times.

I routinely suggest to my candidates that they get involved in their professional associations again. Find the one that fits your interests, your viewpoint, and your region. I was reminded today, this advice is good and I should listen to my own words.

Onward and upwards with renewed energy, optimism and resources. Don't forget what's out there to help you stay connected!

Guilt Free Zone for Working Moms

veronicap@bcgsearch.com (Veronica Pawlowski (Los Angeles Office)) — Wed, 12 Nov 2008 21:57:00 +0000

A couple of weeks ago, I was in my home office, on a call, late in the evening. In the background, I could hear my daughter protesting bedtime, insisting that only Mommy can sing her good night song. She eventually went along to bed but, the minute she heard the door to my office open, she called out--"Mommy, can you come sing to me?" Of course, I did.

Since then, I've been thinking about the guilt that all working moms must deal with on a regular basis. I almost let myself feel down in the dumps about it but I quickly rebounded as I started to think about the benefits to being a working mom.

First, there are the "selfish" advantages. Having a career gives me something that is all mine--something to which I can devote myself for no reason other than the fact that it brings me satisfaction (when almost everything else I do on a daily basis is for someone else's benefit). In addition, I take great pride in contributing to our family income. There are many things that are made possible by my income and 99% of them are for the benefit of my kids.

Second, there are the benefits to the most important people in my life--my kids. I have the privilege of knowing that in me, they have a role model. As they grow and start to make their own touch choices in life, they will see that it is possible to achieve all of their goals--whatever they may be. Finally, because my husband and I both work, EVERYTHING in our home is the result of a team effort and our kids know that we are both able to meet their needs. (Even though only I have the power to sing them to sleep!)

There are many challenges that come with being a working mom and the accompanying guilt can be overwhelming. But, there is so much to be admired about women who choose to have a family and a career. Thus, anytime the guilt starts to creep in, it's imperative that we take a minute to reflect on the benefits to all involved and to feel pride in the great sacrifice that we make for our families.

High Demand Should Motivate Partners To Move Now!

noreply@blogger.com (Jamie Bailey (Chicago/Midwest Office)) — Mon, 10 Nov 2008 23:05:00 +0000

Even in these tough economic times, there is increased demand by law firms for partners with business. Why would any partner decide to move to another law firm in such a tumultuous economic market?

First, firms not equipped to withstand this extreme economic downturn will not be able to stabilize and survive. Therefore, it is imperative that partners assess whether or not their current firm is financially sound and will provide the best environment for their clients during the next few years of recovery and beyond. If a partner's current firm is rapidly declining and is experiencing a high level of attrition and movement at the associate and partner levels, it could be exactly the right time to make a move.

Second, firms are expanding and diversifying their practices to better service their regional, national and international clients, so it is an excellent time for partners to seek out new opportunities at firms that are well positioned for continued growth and expansion and which would provide additional cross selling capabilities, and services to their clients.

Finally, although some firms are downsizing and closing their doors, other firms are expanding, merging and have recently launched new offices. Additionally, many firms are launching new and innovative niche practice areas. Thus, if you are a partner with niche expertise in areas that are or will likely be in high demand during this tough economic cycle, you could take advantage of these new opportunities and actually lateral to a more prestigious firm with a better platform.

Now is the time for partners to evaluate their current position. There are opportunities in every market, whether the economy is good or bad. Partners who can seize upon new opportunities in this down market will have better control of their careers and be in a better position to respond to their clients' needs.

Hold Your Head Up

noreply@blogger.com (Lisa Pavia (Washington, DC Office)) — Wed, 05 Nov 2008 23:57:00 +0000

Today is the first day of a new era for the entire country. At last at least one uncertain question has been answered.

We now know who will lead us into the future.

Much remains that is unclear and there is work to be done.

But regardless of who you voted for there is a reason to be proud today of your candidate.

Together we have entered into a new journey frought with mystery, possiblity, fear and the chance to tell our Grandchildren that we were a part of a major turning point in the history of our country.

Let's hope we all rise to the occasion and show the dignity that was apparent in both Senator McCain and Senator Obama last night. Hold your head up and roll up your sleeves and let's turn the page on a new chapter in the life our country.

Interview tip of the day: Leave yourself a little wiggle room.

noreply@blogger.com (Caroline Lee (West Coast Office)) — Tue, 04 Nov 2008 16:00:00 +0000

I once worked with a candidate who received four offers, all from outstanding firms. The one firm where he wanted an offer though, decided to pass. In retrospect, I believe this fifth firm passed on this candidate because during the interview- he volunteered that he was very passionate about corporate finance law and that he wanted to get more exposure to it. Unfortunately, this particular firm did not have a corporate finance practice in the office he was interviewing with. Thus, this mistake likely cost him the potential offer there.

The unfortunate thing about this situation is that this candidate would have been open to doing general corporate work as well. Therefore, unless you are completely set on only doing a particular area of law that is more specialized- keep your options open by being flexible (when asked what practice areas you are interested in). Leaving yourself some wiggle room in this regard will hopefully result in additional employment offers, where you are the one making the final decision regarding your candidacy with a firm.

You landed an interview! Now breathe...

veronicap@bcgsearch.com (Veronica Pawlowski (Los Angeles Office)) — Mon, 03 Nov 2008 20:34:00 +0000

The market is tight and you've been looking for quite some time. Then, suddenly, you get the call from your trusted recruiter--an interview! Now, stop, take a deep breath and relax.

I was recently asked whether it is possible to show too much enthusiasm at a job interview. The answer is yes and unfortunately, the line is a very fine one. Why? Because showing proper enthusiasm for the position is absolutely essential. Afterall, who would want to hire someone who appears disinterested? At the same time, being over-eager never plays well either. It's like dating--you want to appear interested, but never desperate (even if you are).

A few pointers for the over-eager: (1) Don't make any comments about how relieved you were to get the interview or how long you have been looking for a new position; (2) Remember that one good way to express enthusiasm is to ask substantive questions about the firm and the position for which you are interviewing; and (3) Resist the urge to send daily e-mails checking in on your status after the interview. A simple thank you note is fine but think about the person who calls you numerous times a day following a first date--kind of scary. Don't be that person!

It can be extremely difficult to remain calm when opportunities are scarce and the need to be employed is all too real. But even in scary times, it is necessary to remain confident, calm, and collective. And, when you do find yourself tempted to stalk the partner who interviewed you, try calling a friend or anyone else who will listen to you vent but won't decide to "pass"!

The Layoff List

noreply@blogger.com (Tricia McGrath (NYC Office)) — Sun, 02 Nov 2008 23:18:00 +0000

American Lawyer and Incisive Media have compiled a list of AmLaw 200 firms that have had "employment shifts" in 2008. Click here for the list.

It will turn around. I hope that you are doing your best to weather the storm.

Pick Your Practice Area Wisely

noreply@blogger.com (Tricia McGrath (NYC Office)) — Fri, 31 Oct 2008 21:28:00 +0000

As we are riding the roller-coaster ride that is the US economy, it seems to be a great time to revisit practice areas selection for associates. There are two types of practice areas - those that thrive in "up" markets and those that thrive in "down" markets. Right now, the market is as down as it can be.

Who's busy?
Bankruptcy
Litigation (slightly busy, and we are expecting more hours out of you litigation associates this year)

Who's not busy?
M&A
Capital Markets/Finance
Real Estate

There are certain practices that are able to exist in both "up" and "down" markets:
Tax and other specialty practices
Intellectual Property

Why? Tax supports many of a firm's practice areas and, thus, has a slight "internal hedge" against a down market. Intellectual property involves different types of work as well. Even though IP transactional work has slowed to a crawl, patent prosecution and IP litigation are still rolling along.

My advice? When selecting a practice area in your early career, know whether or not your practice is an up or down market practice. It will allow you to plan to ride the roller-coaster more enjoyably - e.g. if you chose to become a bankruptcy associate in a top firm, expect that you will be slammed when all of your attorney friends are slow and on the hunt for work.

Staying on Message

noreply@blogger.com (Steve Seckler (Boston Office)) — Fri, 31 Oct 2008 14:31:00 +0000

This Tuesday, Americans will go to the polls to elect the next President. While it is a little early to evaluate the overall effectiveness of the Obama campaign vs. the McCain campaign (the voters get to decide that), it is not too soon to start analyzing which tactics have worked well. Furthermore, if you listen to political pundits from both political persuasions, you will note that most agree that Obama has been much more consistent in his message and that this consistency has worked well for him tactically.

In contrast, few would say that McCain has been consistent. One week his campaign is accusing Obama of "palling around with terrorists", the following week he is accusing Obama of being a Socialist and now, right before the election, he is focused on how Obama will raise your taxes.

Obama, on the other hand, has presented a very consistent message (i.e. that the middle class has been deeply hurt in the pocket book in the last eight years and that his administration will change some of the policies that caused this.)

The career lesson (or communication lesson) is clear. Picking a message and staying on that message is more effective than a shotgun approach. If you are looking for a job, don't try to be all things to all employers. For example, if you are looking for a position as a litigation associate, don't tell your audience that you are also happy to do work in their real estate or corporate practice groups. If you have two good examples of relevant work that you did in your current job, then don't dilute your message by discussing less relevant work you did as a summer associate.

Telling stories is one effective way to sell yourself and stay on message. Find some good anecdotes which illustrate your past successes and make good use of them. Use the stories to reinforce your central message. Harrison Barnes, BCG's CEO, just wrote an article about this. He talks about how Turkish rug merchants use stories to cultivate relationships with their prospective buyers. Follow his advice and maybe you too will have a shot at the Presidency!

Get Out The Vote!

noreply@blogger.com (Gloria Noh Cannon (Los Angeles/West Coast Office)) — Fri, 31 Oct 2008 02:14:00 +0000

With only five days left until Election Day, lawyers all over the country are getting involved to make sure that every vote counts in this year's historic election. For example, Bingham will have over 120 lawyers monitoring polls throughout the country. The American Bar Association is encouraging lawyers to volunteer their services to staff telephone hotlines and to work as official poll workers to help ensure that voters know their rights and are not denied the right to vote. After all, lawyers are perfectly suited to meet the need for nonpartisan volunteers to answer any questions or address any concerns that may arise.

It's not too late to get involved. Here are a few organizations that are helping lawyers get involved:

Election Protection Project: http://www.866ourvote.org/
National Campaign for Fair Elections: http://www.nationalcampaignforfairelections.org/
American Bar Association: www.abanet.org/2008election.

Be Straight With Your Recruiter --Keep Good Records

noreply@blogger.com (Deborah Acker (SF and Silicon Valley Offices)) — Tue, 28 Oct 2008 20:46:00 +0000

Competition for strong positions in good firms is intense. People are getting frustrated. And recruiting "faux pas" are beginning to surface again. It bears repeating that there are certain scenarios that will reflect poorly on you the candidate, and often by association, your recruiter.

One of these is having your resume sent to the same firm twice. A lot of associates are testing the waters now because they are nervous about their job security. They may pop a resume in an email while surfing job postings during their lunch and completely forget about it.

Or they may be trying to leverage all possible approaches with direct submissions and multiple recruiters.

In either event, when I get the email from the firm telling me that they have already received a resume, the tone of the email is never friendly and often the message between the lines is "can't you and your candidate get your act together?" So, the candidate's chances of being considered by this firm takes a distinct downturn.

You should keep a spreadsheet of every firm that has received a resume from you in the previous six months. Most firms will accept a resume from a new source after six months have passed.

If you are working with a good recruiter, they will keep you very well informed of exactly where your resume has been submitted and the current status of the submission. If this is not happening, you need a new recruiter. You should keep track of the recruiter submissions in your own spreadsheet.

When a recruiter asks where you have been submitted before, they are not trying to do anything tricky. They are making sure that you don't look bad with multiple submissions and they are gauging whether there are still options where they can be of help.

For everyone's sake, keep good records and be straight with your recruiter. And I would advise taking a few days at the beginning of your search to choose a recruiter who will communicate well with you and go to significant effort to cover the market for you while protecting you from appearing careless with duplicate submissions.

It will pay off in the long run!

Goodbye Thelen

noreply@blogger.com (Danice Kowalczyk (New York Office)) — Tue, 28 Oct 2008 20:39:00 +0000

There is something rather sad about the dissolution of Thelen Reid Brown Raysman this week. It's not so much the demise of a good firm as it is the evaporation of part of my past. Graduating from law school in the late 90s (and focusing on IP law), Brown Raysman was one of the hot shot, new media practices in NYC. Dynamic, entrepreneurial, and at the cusp of evolving Internet law, the firm offered something really different to Manhattan legal practice -- in addition to its decidedly West Coast feel. While I never practiced law there, I always enjoyed seeing it from afar (the firm operated out of the building behind my firm). It was almost like something "magical" to wish for later on in life (whether real or not). Moreover, when other IT/IP firms like Brobeck Phleger tanked, Brown Raysman held on in NYC, and I kept hoping it would keep holding on.

Today's announcement of Thelen's dissolution reinforces, however, the idea that nothing is forever in today's market. It also forces me remember that a "firm" doesn't make the magic. It's people do. Brown Raysman's folks will move on from Thelen's walls, join other firms, and take their brand of practice somewhere else. I suppose little bits of the new media magic will be scattered around New York, at other firms, and to other cities. Maybe this isn't so bad. As a practitioner of IP law, maybe this is a good thing. So, while I'm feeling sad that something important from my early days of practice is gone, I suppose there is an upside to all of this. Maybe it is time to move on -- for all of us.

I told this to a friend of mine who was laid off today from another firm. She was talking about how good things were -- what a good group it was -- and how nothing can compare. Maybe that's true, but maybe for some of those who are getting laid off, it might be time to move on. Take your magic elsewhere. I do believe that something good will come from all of this reshaping of national law firms. We just have to look for it and realize that we are part of it.