Top hedge fund law firms

It's difficult for legislation school grads to find work today — particularly when they don't check-out a high law school.

Also attorneys who snag fancy tasks appropriate off law college might-be condemned. We spoke to one previous attorney who states he managed to break in to the world of corporate legislation just getting shut-out completely as a result of misfortune.

Our resource visited legislation school in new york and began scouring lawyer web sites for work openings after graduation. Even after that, he claims, there is an oversupply of solicitors, therefore task hunting wasn't simple. He in the course of time spotted title of an old university classmate on a strong website and emailed the woman out of the blue.

1st wave of layoffs hit their firm about a year into his BigLaw stint, and our source kept his task. These types of massive layoffs were just about unprecedented for lawyers, which historically were able to weather bad financial times.

The financial meltdown actually hammered the legal business though — particularly nyc law firms which had lots of consumers on Wall Street.

Around 2008, the blog over the Law run by ex-lawyer David Lat started reporting on every significant law practice's size layoff. Our origin really discovered the very first layoff at their firm by reading over the Law.

Which is exactly how he heard bout the 2nd revolution too. (Our supply held their job once again.) Ultimately, though, their company allow him proceed through a so-called "stealth layoff, " in which a company allows folks go one-by-one so as not to ever call focus on its economic problems.

"It really is less remarkable, " our supply claims. "in the event that you lay-off 30 [people], David Lat will call you completely."

After our source's stealth layoff, he had been delivered on their way with 90 days of severance pay and six numbers of legislation school debt. He desperately wanted to find another attorney task.

But, he says, "No one will hire you if they understand you are laid off since you're tainted." He attributes this mindset to attorneys once becoming viewed as "recession-proof." If you have let go, the logic goes, you must have been a bad lawyer.

"there is a stigma attached to layoffs that you'dn't see in a field like finance. In finance, they realize there's a cycle, " our origin says.

While our origin got work at a prestigious company right from law school, he could not get any work as an attorney after he got let go. He fails within the legislation anymore. He tends to make much less money today, and then he must work a moment work he hates.

Searching right back, he states, he would have missed law school. Our supply decided to go to law school in the first place because it was "intellectually challenging, " he says.

"nevertheless the problem is because one thing is intellectually challenging it generally does not mean you need to make a lifetime career [out of it], " our origin informed us. "Chess is interesting, but does which means that you really need to spend $100, 000 to attend chess college? Clearly there isn't a big marketplace for expert chess people ... It is an exaggeration, but I feel just like the legal industry is equally as bad because the expert chess industry."