2013 & 2014 are "years of anxiety" for Biglaw

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sirpartner82
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2013 & 2014 are "years of anxiety" for Biglaw

Postby sirpartner82 » Thu May 23, 2013 6:30 pm

Watch the clip:

--LinkRemoved--

Betcha later this year sees another round of layoffs, deferments and rescinded offers. Biglaw layoffs already picking up the last few weeks:

http://abovethelaw.com/layoffs/

Also gotta LOL at a firm calling itself "Dickstein." Sounds like a frat house nickname, probably has a lot to do with their lack of business. Imagine some CEO flipping thru firms and saying "gee, let's call Dickstein" LOL.

09042014
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby 09042014 » Thu May 23, 2013 6:40 pm

sirpartner82 wrote:Watch the clip:

--LinkRemoved--

Betcha later this year sees another round of layoffs, deferments and rescinded offers. Biglaw layoffs already picking up the last few weeks:

http://abovethelaw.com/layoffs/

Also gotta LOL at a firm calling itself "Dickstein." Sounds like a frat house nickname, probably has a lot to do with their lack of business. Imagine some CEO flipping thru firms and saying "gee, let's call Dickstein" LOL.


DIIIIIICKSTEIN HOOOOUSE

sirpartner82
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby sirpartner82 » Thu May 23, 2013 7:13 pm

Pity you guys couldn't hack those "hard" classes like org. chem, physics, calculus etc. Then you'd have a shot at a real, legit career in engineering or medicine, instead of pining your hopes (and massive loan debt) on the whims of Boomer-esqe paper churners and their crumbling, obsolete house of cards.

But gee, majoring in Poli Sci sure was a lark, wasn't it? ROTFL!

09042014
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby 09042014 » Thu May 23, 2013 7:16 pm

sirpartner82 wrote:Pity you guys couldn't hack those "hard" classes like org. chem, physics, calculus etc. Then you'd have a shot at a real, legit career in engineering or medicine, instead of pining your hopes (and massive loan debt) on the whims of Boomer-esqe paper churners and their crumbling, obsolete house of cards.

But gee, majoring in Poli Sci sure was a lark, wasn't it? ROTFL!


Jokes on you, I did both.

(looks at Direct Loans account)

wait, the joke is definitely on me.

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ExBiglawAssociate
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby ExBiglawAssociate » Thu May 23, 2013 7:21 pm

sirpartner82 wrote:Pity you guys couldn't hack those "hard" classes like org. chem, physics, calculus etc. Then you'd have a shot at a real, legit career in engineering or medicine, instead of pining your hopes (and massive loan debt) on the whims of Boomer-esqe paper churners and their crumbling, obsolete house of cards.

But gee, majoring in Poli Sci sure was a lark, wasn't it? ROTFL!


TLS needs more posts like this one.

NYstate
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby NYstate » Thu May 23, 2013 7:24 pm

Plenty of 0Ls want to think that hiring will stay the same or improve. They don't want to know about data indicating otherwise. And these 0Ls will have more debt than their lathamed predecessors.

They aren't idiots . They just want to make a career. They don't see how precarious biglaw remains.

Jimbo_Jones
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby Jimbo_Jones » Thu May 23, 2013 7:27 pm

sirpartner82 wrote:Pity you guys couldn't hack those "hard" classes like org. chem, physics, calculus etc. Then you'd have a shot at a real, legit career in engineering or medicine, instead of pining your hopes (and massive loan debt) on the whims of Boomer-esqe paper churners and their crumbling, obsolete house of cards.

But gee, majoring in Poli Sci sure was a lark, wasn't it? ROTFL!



Yeah, so you can graduate to a job market where most employers will cry that your spiffy engineering/science degree didn't "prepare you for the real world" so they can justify hiring 2-3 engineers in India or China for the same price that they would have had to pay you.

09042014
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby 09042014 » Thu May 23, 2013 7:33 pm

NYstate wrote:Plenty of 0Ls want to think that hiring will stay the same or improve. They don't want to know about data indicating otherwise. And these 0Ls will have more debt than their lathamed predecessors.

They aren't idiots . They just want to make a career. They don't see how precarious biglaw remains.


It seems like a lot of the problems facing firms isn't that they have too many associates, but that they have too many freeloader partners who aren't bringing in business they promised.

Hopefully it means some baby boomers get thrown out on their ass.

sirpartner82
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby sirpartner82 » Thu May 23, 2013 7:55 pm

It seems like a lot of the problems facing firms isn't that they have too many associates, but that they have too many freeloader partners who aren't bringing in business they promised.


Did you watch the Bloomberg clip? The problem is that corporations are demanding truly stellar work from true experts in certain obscure and/or niche areas of paper-churning. Having political clout/juice of course helps too. All the "B-list" type firms who do nonsense like due diligence (basically just worthless doc review) and have a writer or two to cut n' paste motions together are screwed.

Doc review, a once fat mark-up for Biglaw, who could hire hordes of mouth-breathing losers from TTToilets like 'Bozo, Brooklyn, Pace, NYLS, pay them 30 an hour and bill the clients 200+ an hour, has officially gone way of the dodo bird:

http://online.wsj.com/article/SB1000142 ... 34712.html


Imagine wanting to join an industry such as law, where the work is so mind-numbingly dry, dull, and pointless that a software program can do the job just as well. Being a lawyer today is like being a card-catalog organizer or one of those office broads who used to arranged files in alphabetical order, etc.

LOL too at the knucklehead in the article blathering about "picking up nuances" in the case. Like any of this crap makes any difference anyway. Will the planet spin off its axis if Budweiser and Dos Equis are made by the same company? It all tastes like crap anyway.

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RELIC
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby RELIC » Thu May 23, 2013 8:12 pm

I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.

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Ruxin1
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby Ruxin1 » Thu May 23, 2013 8:43 pm

RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.


(literal retard)

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RELIC
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby RELIC » Thu May 23, 2013 8:47 pm

Ruxin1 wrote:
RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.

(literal retard)

Why?
I was just responding to the tone of the things posted here which seems to be that there is no stability or long term opportunities in Big Law. I don't think people are going into big law expecting stability or long term opportunities.

NYstate
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby NYstate » Thu May 23, 2013 9:03 pm

RELIC wrote:
Ruxin1 wrote:
RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.

(literal retard)

Why?
I was just responding to the tone of the things posted here which seems to be that there is no stability or long term opportunities in Big Law. I don't think people are going into big law expecting stability or long term opportunities.


4-6 years is long term for biglaw associates.

Anonymous User
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby Anonymous User » Thu May 23, 2013 9:04 pm

Summer firm seems exceedingly busy so the demise might be a bit of a stretch right now at least, so for those of us with no loans, it should still be a decent trip for a few years.

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Clearly
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby Clearly » Thu May 23, 2013 9:06 pm

Ruxin1 wrote:
RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.


(literal retard)

This is way over the top and uncalled for.

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RELIC
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby RELIC » Thu May 23, 2013 9:18 pm

NYstate wrote:
RELIC wrote:
Ruxin1 wrote:
RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.

(literal retard)

Why?
I was just responding to the tone of the things posted here which seems to be that there is no stability or long term opportunities in Big Law. I don't think people are going into big law expecting stability or long term opportunities.

4-6 years is long term for biglaw associates.

That is exactly the point I was making. Thanks for making it again I guess.

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Ruxin1
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby Ruxin1 » Thu May 23, 2013 9:40 pm

RELIC wrote:
Ruxin1 wrote:
RELIC wrote:I don't think anyone plans to stay in big law forever. We just need to survive for 4-6 years to pay our loans off.

(literal retard)

Why?
I was just responding to the tone of the things posted here which seems to be that there is no stability or long term opportunities in Big Law. I don't think people are going into big law expecting stability or long term opportunities.


Because if 25% of firms are going to be doing capital calls you think partners are going to want to hire the same amount of first years? The market is shrinking dood.

sirpartner82
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby sirpartner82 » Thu May 23, 2013 11:13 pm

Because if 25% of firms are going to be doing capital calls you think partners are going to want to hire the same amount of first years? The market is shrinking dood.


And technology keeps getting better and better:

http://www.abajournal.com/news/article/ ... ew_case_su

Doc review made jobs not only for temporary TTT grad loser-lawyers, but lots of Biglaw associates as well who had to "baby-sit" and also write the training manuals for the temps, give the temps updates, double-check the temp's work, etc. Its a massive change, and will never reverse either. Anyone who says otherwise is like the buggy whip maker calling cars a "fad."

Clients demand more and more automation/software, and less and less know-nothing, makework associates churning paper and clocking hours. With computer technology becoming better & better, all a firm really needs is a few partners with "juice" to grease the deals thru, and a few drone cut n' pasters to do the mindless makework which cannot be automated (yet) such as motion practice, etc. With younger management now at big corporations, there will be even greater faith in and use of technology. Soon the other government agencies will follow suit and jump on the software bandwagon, cutting further into Biglaw's domain.

It's a very positive development overall, since lawyers are a drain on the economy, incentivized to be grossly inefficient via billable hours, and add nor produce nothing of tangible value.

Summer firm seems exceedingly busy so the demise might be a bit of a stretch right now at least, so for those of us with no loans, it should still be a decent trip for a few years.


Lots of associates (summers included) were "busy" in 2008 as well. Then one day, they weren't.

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ExBiglawAssociate
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby ExBiglawAssociate » Thu May 23, 2013 11:20 pm

Anonymous User wrote:Summer firm seems exceedingly busy so the demise might be a bit of a stretch right now at least, so for those of us with no loans, it should still be a decent trip for a few years.


(summer associate judging the long-term health of biglaw from the artificial appearance of business orchestrated to make sure summer associates have enough assignments; also not realizing that literally *everyone* in biglaw at least *pretends* to be busy all the time because it's kind of a scarlet letter if you admit you're not getting work and partners take note of it)

rad lulz
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby rad lulz » Thu May 23, 2013 11:22 pm

Biglaw_Associate_V20 wrote:
Anonymous User wrote:Summer firm seems exceedingly busy so the demise might be a bit of a stretch right now at least, so for those of us with no loans, it should still be a decent trip for a few years.


(summer associate judging the long-term health of biglaw from the artificial appearance of business orchestrated to make sure summer associates have enough assignments; also not realizing that literally *everyone* in biglaw at least *pretends* to be busy all the time because it's kind of a scarlet letter if you admit you're not getting work and partners take note of it)

Exactly what I wanted to poast when I saw that anon poast

sirpartner82
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby sirpartner82 » Thu May 23, 2013 11:29 pm

(summer associate judging the long-term health of biglaw from the artificial appearance of business orchestrated to make sure summer associates have enough assignments; also not realizing that literally *everyone* in biglaw at least *pretends* to be busy all the time because it's kind of a scarlet letter if you admit you're not getting work and partners take note of it)


LOL. Man are some of these kiddies in for a surprise when later this year or so Biglaw says "sorry, our needs have changed." I actually came across this website by googling the word "clueless," and it was the #1 hit lol.

Of course, anyone with potential and the ability to count to 21 without removing their trousers wouldn't be in law school anyway. Lawschool is just a dumpster for those with worthless "cupcake" undergrads like Poli Sci or English, etc. Law was yesterday's tomorrow. Today a J.D. is little more than an embarrassment and a flashing resume "red flag" that one lacks science/math ability, as well as poor reasoning skills since the cost of a JD is unlikely to ever pay off for 95% of those who seek to acquire one. Practically every article on lawschool the past 5 years is chock full of warnings and horror stories and advice that lawschool should be avoided no matter what. That a JD is a worthless non-credential is now as common knowledge as the cigarette/lung cancer link. Yet people keep lighting up....

NanaP
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby NanaP » Thu May 23, 2013 11:32 pm

sirpartner82 wrote:Pity you guys couldn't hack those "hard" classes like org. chem, physics, calculus etc. Then you'd have a shot at a real, legit career in engineering or medicine, instead of pining your hopes (and massive loan debt) on the whims of Boomer-esqe paper churners and their crumbling, obsolete house of cards.

But gee, majoring in Poli Sci sure was a lark, wasn't it? ROTFL!


LOL....Good thing I didn't major in poli sci.....

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RELIC
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby RELIC » Thu May 23, 2013 11:37 pm

sirpartner82 wrote:
(summer associate judging the long-term health of biglaw from the artificial appearance of business orchestrated to make sure summer associates have enough assignments; also not realizing that literally *everyone* in biglaw at least *pretends* to be busy all the time because it's kind of a scarlet letter if you admit you're not getting work and partners take note of it)


LOL. Man are some of these kiddies in for a surprise when later this year or so Biglaw says "sorry, our needs have changed." I actually came across this website by googling the word "clueless," and it was the #1 hit lol.

Of course, anyone with potential and the ability to count to 21 without removing their trousers wouldn't be in law school anyway. Lawschool is just a dumpster for those with worthless "cupcake" undergrads like Poli Sci or English, etc. Law was yesterday's tomorrow. Today a J.D. is little more than an embarrassment and a flashing resume "red flag" that one lacks science/math ability, as well as poor reasoning skills since the cost of a JD is unlikely to ever pay off for 95% of those who seek to acquire one. Practically every article on lawschool the past 5 years is chock full of warnings and horror stories and advice that lawschool should be avoided no matter what. That a JD is a worthless non-credential is now as common knowledge as the cigarette/lung cancer link. Yet people keep lighting up....


This schtick isn't funny or original.

NYstate
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby NYstate » Thu May 23, 2013 11:40 pm

Anonymous User wrote:Summer firm seems exceedingly busy so the demise might be a bit of a stretch right now at least, so for those of us with no loans, it should still be a decent trip for a few years.

Dude. What matters is the amount clients actually pay - money firms actually collect- for the work. The hours are no longer relevant. The price the client will pay is relevant . The squeeze has been on to cut bills and it isn't going away. Firms aren't earning significantly more money-revenue is almost flat over the past two years-they are cutting costs to retain profits. That means firing people and not paying bonuses. Anything to cut costs.

And never forget- the partners know how to do your job. They need your help to churn out documents- but they don't really need you. They can do all your work without you and probably much faster than you can.

aces
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Re: 2013 & 2014 are "years of anxiety" for Biglaw

Postby aces » Thu May 23, 2013 11:48 pm

This is what, his sixth or seventh alt? It was fresh at first, but you have to wonder how bitter someone has to be to troll these boards over and over again with the same schtick.




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