Lots of Employment Questions

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admisionquestion
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Joined: Sun Sep 26, 2010 12:16 am

Lots of Employment Questions

Postby admisionquestion » Sun Mar 25, 2012 5:32 pm

Image

I made a simple graphic illustrating the possible career paths of a student aiming for biglaw. Basically I was hoping to get a better grasp on what options are available after being nudged out of big law. But as I started to think about this, I realized I have an overwhelming number of questions… Hopefully someone can help me learn a bit more.

1. I often hear that big-law associates get nudged out after 2,3 or 4 years. Does anyone have any data, or estimates on what percentage get nudged at this point?
2. If you make it past the first 3-4 years, how long do you have until you get hit with “up or out?” Obviously this differs from firm to firm but generally speaking.
3. How common is lateraling? If one is being nudged out can they often lateral instead? When hired do laterals restart at first year pay?
4. Any data on where people go after being nudged out. At this point is it mostly a matter of what one wants, i.e. if one made big law and did fine but eventually got the nudge, are they reasonably likely to be able to end up in any of the categories I pointed to—or are some harder to break into?
5. Any data about post big law income? I’d be interested in seeing reliable income data for any of the categories I pointed to. i.e. how much does one make in mid-law if they move into it after 3 years of big-law.
6. What would fall into “other legal” that is not mentioned in another box.
7. What is horribly wrong about this picture?

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Flash
Posts: 433
Joined: Wed Dec 22, 2010 2:24 pm

Re: Lots of Employment Questions

Postby Flash » Sun Mar 25, 2012 7:06 pm

People who get forced out of biglaw don't go into academia. Academics either don't go into Biglaw at all, only clerkships and fellowships, do PI, or choose to leave biglaw after publishing enough to get hired.

ahnhub
Posts: 578
Joined: Fri Jun 10, 2011 3:14 pm

Re: Lots of Employment Questions

Postby ahnhub » Sun Mar 25, 2012 7:48 pm

Well here are all the examples I have of acquaintances who started out in Biglaw--

V10 NY associate--> 6-8 yrs, partner
V50 NY associate--> 3-4 yrs, boutique patent firm
v50 LA associate--> 3-4 yrs, in-house counsel at Sony
V20ish NY associate--> 7-9 yrs, working in finance with a former client, it is either in-house at a bank or he's left legal field entirely
V5 NY associate--> 5-6 yrs, opened his own shingle, specializing with immigrant clients
V10 NY associate--> 5-6 yrs, attorney with federal immigration office in LA
V50ish Chicago associate--> 3-4 yrs, attorney with USDOA of Eastern Michigan district
V20ish NY associate--> 4-5 yrs, lateral transfer to V50, where he's been for four years. He's either on some kind of separate track or V50 firm doesn't practice out-and-up, because he's probably not making partner and he plans to stay for awhile.
V100ish Atlanta firm--> 6-8 yrs, partner
V50 NY firm--> 2 yrs--> ran family business for 3-4 yrs --> manager of an investment fund for 2 yrs--> NJ Biglaw in some capactiy (either a senior associate or some kind of non-equity partner)

I think a lot of things can happen.
Last edited by ahnhub on Sun Mar 25, 2012 7:57 pm, edited 2 times in total.

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bk1
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Re: Lots of Employment Questions

Postby bk1 » Sun Mar 25, 2012 7:51 pm

People quote the 3 year mark as the median length of a biglaw stay. Haven't found where it comes from, but I'm not inclined to doubt it. I know a 2007 article by the ABA? American Lawyer quoting NALP said that 80% of biglaw associates left by year 5.

071816
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Joined: Thu Mar 31, 2011 8:06 pm

Re: Lots of Employment Questions

Postby 071816 » Sun Mar 25, 2012 7:53 pm

bk1 wrote:People quote the 3 year mark as the median length of a biglaw stay. Haven't found where it comes from, but I'm not inclined to doubt it. I know a 2007 article by the ABA? said that 80% of biglaw associates left by year 5.


Out of curiosity, left big law completely or just their initial firm?

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bk1
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Re: Lots of Employment Questions

Postby bk1 » Sun Mar 25, 2012 8:04 pm

chimp wrote:Out of curiosity, left big law completely or just their initial firm?

Biglaw completely.

071816
Posts: 5511
Joined: Thu Mar 31, 2011 8:06 pm

Re: Lots of Employment Questions

Postby 071816 » Sun Mar 25, 2012 8:10 pm

bk1 wrote:
chimp wrote:Out of curiosity, left big law completely or just their initial firm?

Biglaw completely.

Interesting.




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