By Will Morrow
While it is always an issue for laterals leaving BigLaw, recent media reports highlight the market shift in new lawyer placement toward geographic diversity from the annual rush to Manhattan and other large metro markets. A recent Am Law Daily report focused on advice given to recruits by Harvard's Dean of the Center for Career Services about expanding the geographic scope of search as a smart way to stay in the game.
Even if the shift is temporary and lasts just a couple of recruiting cycles, the perpetual wave of new talent (i.e. today's 1Ls) feeding the BigLaw personnel engine and coming up behind today’s candidates means that today's law students ignore the advice at their own peril. All the while we regional firms are swimming in qualified lateral resumes.
The focus of the media is on finding the job, and hence the paycheck - but in the long run the question that really matters (and gets discussed less frequently) is whether there is stimulating and financially rewarding employment for BigLaw refugees. YLB asked a slightly older lawyer who has done both (Cleary Gottlieb to Waller Lansden) to offer some thoughts on the question.
There is legal life outside New York for laterals and 3Ls alike.
At its bare essence, the BigLaw resume indicates to potential employers that:
(a) you were hired by someone who cared a great deal about your resume and transcript (and probably less so about your individual traits),
(b) you drank from a fire hose of reasonably good work, although there is growing concern that the last batch of new BigLaw hires did not get deep enough into the practice before the music stopped,
(c) you probably (but not always) worked with talented people, and hopefully learned from them,
(d) BigLaw's systems of lawyer development had their way with you, and you are familiar with them, and
(e) you are probably a pretty dedicated lawyer.
No advice will improve your resume or make you more dedicated, so let's focus on (b) through (d) for a moment. By making studied and rational choices about target firms, lawyers can meet or exceed the career development provided by BigLaw. Here are some thoughts on what matters.
1. Quality of work matters. Getting quality work that is both stimulating and develops young lawyers is a challenge, regardless of the firm or type of work. Plenty of my colleagues at great BigLaw firms disappeared into the abyss of document review and due diligence, never to emerge as developed lawyers. In other words, every law firm offers good and bad work. The key is to identify firms that are getting the best work in your area of interest, and that have an engine to get more of the same over the long run. You can count on Joe Flom to have left behind a lifetime supply of good transactional work, but more research is required outside New York. I am primarily an M&A lawyer, so I focused on finding a firm with a strong position in the transactional area of a specific market. In my case, the firm is a leader in the healthcare transactional market (Nashville is the world's epicenter of for-profit healthcare companies). By affiliating with leaders in a growing market, I improved my chances of building a growing practice platform. From the geocentric Texas oil and gas market to the non-regional strength of certain litigation practices, you improve your chances of building the practice you want by carefully selecting a firm with natural growth prospects. And know that history is no guaranty of future results, so make sure you see energetic market leaders with a good development strategy before you leap.
2. Mentors matter. Mentoring is a challenge for every law firm, and there is no substitute for an organic informal mentor relationship. My experience at BigLaw indicated that lawyers without mentors were often adrift, and the one thing I really regret about moving on was leaving my BigLaw mentors behind. Ironically, this is one area where chances probably improve in a firm that hires fewer people per year, particularly in a firm that fosters a mentor culture. The secret is to do the research to determine whether there are strong practitioners with a passion for developing young lawyers at a target firm. You can simply ask interviewers, and you can look to see how many 30-something lawyers hold positions in legal organizations and are widely involved in speaking. The 40-something crowd might get there on their own, but if you see a group of people who are being groomed for succession, it is a sign of a strong mentor culture.
3. Professional development matters. The presence of systems for young lawyer development say more about the firm than your experience with them says about you. One of the true benefits of BigLaw is that infinite manpower yields really good legal systems, and the need to develop 50+ lawyers per year requires that the firm have a pretty developed plan for success. In the rest of the world, existence of those systems means that the firm cares enough about lawyer development to have one in place, and that presumably the young lawyers are better off for it. Ask about the firm's development program for lawyers, and particularly in your specialty. Everyone will tell you that they get together to discuss the practice - but how often, who leads (associate leadership of discussion based on recent engagements is a good sign of a development program), and what is the objective. Does a corporate section have annotated forms of their own making (not from the ABA)? Do the litigators have a brief bank or other litigation resources? My BigLaw firm would tell you that they never want to have an associate presented with an issue in the practice they have not seen or heard of before - that is the gold standard for a development program. You don't have to have that - but make sure someone is systematically developing young lawyers into successful older lawyers, and that you are not expected to carry 100% of that burden.
What is automatic in BigLaw is available elsewhere, just not so automatically. Manage your search and you will find what you want, and perhaps even avoid some of the oft discussed downsides of life at BigLaw.