Avenue Blog

More Boomer Lawyers Facing Retirement

The Wall Street Journal reports this week that even though the US labor market is showing signs of improvement, conditions for older workers continue to deteriorate.

As of last month, the number of unemployed workers ages 55 to 64 has nearly tripled since the recession began. And while it is difficult to quantify just how many Americans are retiring now amid weak job prospects, recent work by two Wellesley College economists suggests the effect is large. In a new working paper, they estimate nearly 400,000 employees (no telling how many Boomer lawyers) will become “reluctant retirees” as a result of the weak labor market.

Lawyer/counselor Michael Long, author of Lawyers at Midlife: Laying the Groundwork for the Road Ahead (2008), says a quarter-million lawyers are expected to start retiring in 2011. And whether they’re pushed or retire on their own, the loss of a revenue stream won’t be the only turning point in their legal career. Says Long, “Too many lawyers approaching retirement focus on financial and health-related issues, and they fail to anticipate feelings of loss, discomfort, and disorientation. In fact, there are at least five other endings and losses that merit close attention: Loss of lawyer identity, loss of intellectual stimulation, loss of feeling useful and valued, and loss of structure and purpose.”

When it comes to a satisfying retirement, Long says, “there is no one-size-fits-all formula. Reluctant or not, each lawyer will approach retirement with individual preferences, interests, values, experiences, strengths, challenges, hopes, dreams and concerns. And together with a life partner, they have to shape a life in retirement that works for them.”

COBRA Subsidy Ending for Lawyers & Others

2009 marks the worst year for lawyer headcount in 30 years. At the top 250 firms alone, the number of downsized attorneys rose by nearly 5,300 … even more if you calculate all the stealth firings and downsizing at smaller firms. But you already know the bad news. What isn’t generally known, is that a special COBRA health care subsidy – one that pays 65% of one’s health insurance premiums for nine months – is beginning to expire this month for anyone downsized after March 1st. Unless Congress acts by the end of the year to extend the subsidy, jobless lawyers and thousands of others, must pay full premiums instead of just 35%. If you are among those who has been laid off, don’t drop COBRA … even if you have to pay full premiums for awhile. Phil Lebherz, executive director of the Foundation for Health Coverage Education, says “Dropping COBRA is the worst thing you can do. Once you miss a payment for a month, you’re dropped from the plan and can’t rejoin it.

They Said … What?

FOR THE WEEK ENDING December 4:

“As we reboot the great American jobs machine, it’s time to shelve outdated assumptions and accept that a portfolio of multiple assignments (i.e., contract work) is what growing legions of companies and executives want. This new relationship between talent and firms isn’t a failure to be stigmatized, but the latest sign of our economy’s endless capacity for renewal and innovation.” — Jody Greenstone Miller, CEO of the Business Talent Group, and former special assistant to President Bill Clinton.

“How good are law schools at responding to the legal marketplace? We are absolutely wretched. Just as law firms this year have shed lawyers like a dog sheds hair in summer, law schools continue to admit the same – or more – students into their program.” – Law Prof. Rick Bales, University of Northern Kentucky School of Law (Wall Street Journal)

“The business model of US law schools doesn’t quite make sense to me. (They) bring you in from college, educate you, and encumber you with a six-figure indebtedness at a tender age. (So in the middle of a recession), we are pouring tens of thousands of young people into a market that I suspect is not going to be able to absorb them at them at the levels of remuneration that would have justified taking on that debt.” – Peter Kalis, chairman of the 1,800-lawyer firm K&L Gates (Wall Street Journal)

“The unintended consequence of the recession is that law schools may be rediscovering the secret sauce of professional development.” - Law Professor William Henderson, Indiana University/Maurer School of Law (National Law Journal)

“In the old days, (law firms) didn’t get to pick and choose, but now they are (only) holding on to the strongest performers. They’re primarily focused on productivity.” – Hildebrandt consultant Lisa Smith, on the factors that determine which associates are more likely to be caught up in The Great Realignment. (American Lawyer)

“The fact is, the qualitative gene pool improves in the process of doing these layoffs.” – Unnamed chairman of a Northeast Biglaw firm. (American Lawyer)

“(We’re not) in recovery. It’s a slowing recession. We’re seeing fewer people employed, and those who are employed aren’t seeing their earnings power increased. It’s tough to see where a recovery can come from.” – Dean Baker, co-director of the Center for Economic and Policy Research in Washington DC (Wall Street Journal)

“It’s a measure of just how terrible the economy has become that a loss of more than a half-million jobs in just one month can be widely seen as a good sign. The house is still burning down, but not quite as fast.” – Bob Herbert, columnist (New York Times)

“Everything kind of sucks.” – a 3L at Seton Hall University School of Law (National Law Journal)

“I have a theory that we may have several years where the so-called ‘first-year class’ will have people with varying graduation dates.” — Keith Wetmore, chairman, Morrison & Foerster, on plans by many top firms to defer recruit hiring until January, 2011. (National Law Journal)

Say “Thank You”, and Other Advice for Legal Job Seekers

Rachel J. Littman, Esq.

How to stand out in a buyer’s market? You can spend a small fortune on job-finding books, but the assistant dean of career development at Pace Law School sums it up for you with 11 simple tips:

1. Be flexible – You may not be able to secure the job of your dreams on the first (or even third) try. Map out the skills that are important to your ideal job, and be flexible and open to opportunities that can help you build those skills and create connections towards your goal.

2. Show an employer why they should hire you – Highlight relevant skills and experience. Once at work, be proactive in seeking assignments; work hard, ask questions, and solicit constructive feedback.

3. Do your homework – Research areas of practice and particular potential employers. Be as prepared as you can for interviews and your assignments. At work, ask about outside reading or CLEs you could attend to improve your knowledge of a particular area.

4. Create tailored cover letters and resumes – Researching an employer, as well as the industry or practice area, will help you create the best cover letter and resume.

5. Build a network of references – Networking is STILL the best way to land a job. You need as many allies as you can to create a useful network of people who can vouch for you and your work quality, and to help pass your resume along to potential employers.

6. Be a self-starter – Being capable, confident, and proactive at work is the best way to ensure that you have a steady work flow and are valued for your contributions.

7. The practice of law – Learn the business of the practice of law, whether it is in private practice, government or public interest.

8. Gain as much experience as possible – That will give you an edge and make you valuable for your first, second and succeeding jobs.

9. Follow-up is important – Follow up on leads, references, and interviews to express your interest and to maintain contacts.

10. Always say “thank you”! – This is true for interviews, referrals, and positive feedback on your work.

11. Once again, be flexible – You may not be able to secure the job of your dreams on the first (or even third) try. Map out the skills that are important to your ideal job, and be flexible and open to opportunities that can help you build those skills and create connections towards your goal.

Rachel J. Littman, Esq.
rlittman@law.pace.edu
Copyright 2009. Reprinted with the permission of Pace Law School

Getting Your First Law Job in a Buyer’s Market

Jill Backer, Esq.

In this brief Q&A, Brooklyn Law School’s associate director of career services, offers some obvious and NOT-so-obvious job-finding suggestions in the roughest job market in a half-century:

Q. What do you see for the legal job market when the economy recovers?
A:I think the legal job market will bounce back, but I doubt it will ever be the same. In my opinion, the market has hit a huge reset button, and things like associate life (and pay), hourly billing, and luxurious and populous summer programs are things of the past.

Q: So, how do I find work?
A: You’ve heard it before, but it’s still true: Networking is THE best way to get a job or a client. Tell everyone you know that you are looking for a job. Even put the type of position you’re looking for on your Facebook page for all to see (provided, of course, your Facebook account has no questionable entries!). Second, get involved in the area of law you wish to pursue. Attend bar association committee meetings, and CLE and alumni events. Think of it; what could be better than a local bar association committee meeting in the area you wish to practice? The entire room is filled with potential employers, and lawyers love to help a young, go-getter. The networking skills you develop now will help you through your entire career.

Q: But what if the area of law that interests me is in a slump?
A: It’s a legitimate concern, and several practice areas have been deeply affected. So, you need to do what every other out-of-work lawyer is doing: research and identify the emerging legal markets, like bankruptcy, energy, privacy, labor & employment, etc. Take classes in these new areas for which you have an interest, attend CLE’s; do whatever you can to gain experience/exposure to supplement your current resume. Also, rework your resume in a way that focuses on your applicable legal skills rather than on a specific practice area.

Q: I really have my heart set on getting into Biglaw.
A: Your first job is not the be-all/end-all of your career. At this time, and in this economy, it’s important that you consider all your options. For many grads and new admittees, the federal government has not been an employer they considered. And yet every practice area found in private practice has its mirror image in the public sector. For example, say you ultimately want to be a fashion lawyer. Did you know that any fashion house general counsel would look favorably on your experience with the US Bureau of Customs & Border Protection. Yes, this agency is constantly challenging imports for piracy of trademark claims. So, stop focusing on landing your dream job right out of the gate, and concentrate on gaining the skills that will get you there. Thinking outside of the private sector might serve you well in your long-term career goals.

Q: So, what you’re saying is ‘be flexible’.
A: Yes. To get your foot in the door, you have to be. That also means being geographically flexible. In most big cities right now, it’s a buyer’s market; there are dozens of candidates for every opening. Which means you may have to take a job at a small or midsized firm that does more general practice with some of what you are interested in rather than jumping right to the mid-size boutique. Keep your eye on the prize and take measured steps towards your goal. I think you will also find you are better prepared once you arrive. The most important thing you can do now is to not rest on your laurels. Be proactive in your thoughts and your actions. There are no guarantees in this market. Make sure you are as marketable as you can be, and that means you MUST work to get as much experience and exposure as possible. Taking time off before you hit the real world means you may never get there.

Jill Backer, Esq.
jill.backer@brooklaw.edu
Copyright 2009. Reprinted with the permission of Brooklyn Law School

Reflections of a Lawyer at Midlife

By Daniel Lukasik, Esq.

New York lawyer Daniel Lukasik attended his 30th high school reunion this past summer. It was an occasion that produced this gentle reflection on life, law, and the sweet victory that comes from finally discovering one’s second act:

In a few weeks I’ll turn 48, and have been out of law school for 21 years.

As I entered the local watering hole where the reunion was underway, I could see the changes in our bodies and faces that bespoke the passage of time; each of us was entering the Fall of our lives.

Midlife, and all the challenges this stage of life brings, has been on my mind lately. But besides the reunion, something else has supplied the voltage for my middle age meditation: a book by psychologist Robert A. Johnson called, “Living Your Unlived Life: Coping with Unrealized Dreams and Fulfilling Your Purpose in the Second Half of Life.”

Johnson writes that the first half of our lives is spent addressing matters in the outside world – learning a trade, marrying and raising children, and finding our way in this difficult world. Then, “in the second half of life, the hunger of our missing pieces often becomes acute. It dawns on us that time is running out. So we often set about rearranging things on the outside. Such changes distract us for a time, but what is really called for is a change of consciousness.”

There is something inside of all of us which has been unlived. This is part of the maturation process and just plain growing up. We choose this; we don’t choose that. As we age, our lives take on certain defining features that we never could have foretold in young adulthood. And as I mingled at the reunion with people from so long ago, I imagined what unlived lives each of them had. We all smiled and made small talk as we swayed to the music. All the while, I imagined their hopes to live their unlived lives gently humming beneath the surface.

This is what Johnson has to say about unlived lives:

“… We all have both a ‘lived’ and an ‘unlived’ life,” he writes. “And in the process of becoming differentiated adults, we inevitably become split. Most psychotherapies are designed to patch up wounded people and then throw them back into the battle of oppositions. They guide people in how to become better adapted socially: more adept at making money, more highly disciplined, more dutiful, more economically productive. Even when such therapy is successful and gets an individual back out into the rat race again, you can watch them wither over time under the weight of it all. (But) in the second half of life, we are called to live everything that we truly are, to achieve greater wholeness.

“We initially respond to the call for change by rearranging outer circumstances, though our split is actually an inner problem. The transition from morning to afternoon that occurs at midlife calls for a revaluation of earlier values. During the first half of life we are so busy building up the structure of the personality that we forget that its footings are in shifting sands.”

Many, many lawyers are exhausted by the weight of our lives at the midpoint of the journey. It seems that our careers, and all the obligations that go along with it, have built a momentum that is seemingly unstoppable. So, we settle for distractions (entertainment, money, good food, etc.) along the road to retirement to blunt the pain. This pain is the pain of the unlived life; the part of their inner lives we didn’t get to live while committing large chunks of their time to building our careers.

I believe we must turn and face ourselves at midlife. We must stop running and finally listen (perhaps for the first time in a long time) to that inner voice that is trying, desperately, to get us to listen. Listening to that voice, it dawns on us that we are not the immortals we fancied ourselves in our youths to be. We recognize and sense our mortality and we have yearnings. We want to start living a life, instead of enduring one. Or, as Bruce Springsteen once said, “At some point, you have to stop thinking about the person you want to be and be that person.”

And maybe that’s what depression is about for some of us: painful symptoms that leak out because of un-reconciled parts of us demanding to be heard and lived.

If the central concern of the first half of our lives is building up our resumes of success, maybe the second half is a deeper search for meaning and purpose. For me, the unlived life has recently found expression as a writer. I feel meaning in writing about things flowing through the deeper currents of life; in sharing my insights, musings and struggles with you.

Daniel Lukasik (University of Buffalo Law, 1988), is managing partner at Cantor Lukasik Dolce Panepinto in Buffalo NY, and represents plaintiffs in personal injury cases and civil rights matters in State and Federal Court. Two years ago he launched a now-nationally recognized website for lawyers suffering from depression (www.LawyersWithDepression.com), which provides information and resources for attorneys battling this disease. Reprinted with permission.

What ELSE Can You Do With a Law Degree?

Former criminal defense and in-house lawyer Taisha Rucker used to wonder what else she could do with her law degree. Now 13 years later, she’s answered the question, and is working on a book to help law students, new grads, and burned-out lawyers who are just beginning to ask. As part of Rucker’s research, she has created a thoughtful blog (www.LimitlessLawyer.com) that profiles successful ex-lawyers whose legal career took an unexpected turn, and she provides a brief online survey for those who want to tell their own story.

Rucker (University of Michigan Law, 1995) currently works for an educational consulting company in San Francisco, and in her spare time is honing her skills writing screenplays.

If you have a JD and want to share your insights about how to transition to an alternative legal career, or how to juggle a dual legal and nonlegal career, check out Rucker’s blog and click on Survey.

Online Career Tools for Unemployed Lawyers

Nearly 10 million people are collecting unemployment benefits, up from 2 ½ million two years ago. How many are lawyers? It all depends on what blogs you read. But SOME of those thousands of out-of-work lawyers and new grads should be using this downtime to re-assess their practice … even their career in law. To help, we gathered eight valid, modestly priced online career assessment tools. Self-knowledge is crucial, particularly in this economy. It’s the way in.

Career Discovery (www.CareerDiscovery.com) – Online career assessment co-developed by Tim Butler, director of Harvard’s MBA Career Development program, author of Getting Unstuck: How Dead Ends Become New Paths. The assessment defines a “universe of possible business careers” in which one could express their interests. $95 (password-protected, good for 60 days).

CareerKey (www.CareerKey.org) – Assigns users to one or more of six personality types and helps identify occupations most likely to fit their profile. Developed at North Carolina State University’s College of Education. $9.95

DISC Classic Profile (www.discprofile.com) – Well-established online assessment tool. Identifies and measures work style patterns in four personality categories. From the home page, click on the DiSC Classic Profile ($25.95), or The Classic 2 Plus ($59.95), an enhanced version.

Focus Career (www.FocusCareer.com) – Widely used career-planning system. Developed by the same design team that pioneered IBM’s computer-based, career-planning program. $39.95.

Jackson Vocational Interest Survey (www.jvis.com) – Educational and career-planning tool offers a detailed snapshot of interests and how they relate to the world of work. Authored by a former President of the American Psychological Association’s Division of Measurement, Evaluation and Statistics. Takes about 40 minutes to complete; highly detailed report, $19.95.

The Keirsey Temperament Sorter (www.keirsey.com) – A temperament and work personality assessment. Inividualized, 70-question assessment ranges from $11.95 to $19.95.

Motivational Appraisal of Personal Potential (www.Assessment.com) – MAPP, first developed in the 1960s, measures motivation in specific work areas. The online package offers a vocational analysis, a narrative interpretation of your ratings in nine trait groups, a personalized 20-page report, and a summary of your top six motivators. $19.95to $129.95.

Self-Directed Search (www.self-directed-search.com) – Discover the careers that best match your interests. An online assessment based on the occupation codes popularized by Dr. John Holland. Requires 20-30 minutes to complete. A personalized report is e-mailed to users along with a list of the occupations and fields of study that most closely match their interests. $9.95.

* Recommended reading: Solo By Choice: How to Be the Lawyer You Always Wanted to Be (Carolyn Elefant, 2008), Lawyers at Midlife: Laying the Groundwork for the Road Ahead (Mike Long, 2008).

They Said … What!?

FOR THE WEEK OF August 10

In the old days, (law firms) didn’t get to pick and choose, but now they are (only) holding on to the strongest performers. They’re primarily focused on productivity.” – Hildebrandt consultant Lisa Smith, on the factors that determine which associates are more likely to be caught up in The Great Realignment. (American Lawyer)

The fact is, the qualitative gene pool improves in the process of doing these layoffs.” – Unnamed chairman of a Northeast Biglaw firm. (American Lawyer)

(We’re not) in recovery. It’s a slowing recession. We’re seeing fewer people employed, and those who are employed aren’t seeing their earnings power increased. It’s tough to see where a recovery can come from.” – Dean Baker, co-director of the Center for Economic and Policy Research in Washington DC (Wall Street Journal)

It’s a measure of just how terrible the economy has become that a loss of more than a half-million jobs in just one month can be widely seen as a good sign. The house is still burning down, but not quite as fast.” – Bob Herbert, columnist (New York Times)

Everything kind of sucks,” – a 3L at Seton Hall University School of Law (National Law Journal)

I have a theory that we may have several years where the so-called ‘first-year class’ will have people with varying graduation dates.” — Keith Wetmore, chairman, Morrison & Foerster, on plans by many top firms to defer recruit hiring until January, 2011. (National Law Journal)

Accepting Law Career Book Proposals

LawyerAvenue Press (publishers of Solo By Choice and What Can You Do With a Law Degree), is accepting book proposals for 2010. If you have an idea for a nonfiction career book for lawyers and/or new grads, contact Publications Director Mark Jaroslaw. Proposals should include a working title, a synopsis of the work, a description of key points and reader benefits, and the major differences between this work and others in the same category. Include a bio and summary of relevant expertise. Send materials and/or inquiries to mark@lawyeravenue.com.