Our challenge to you is to think about how you will show up for yourself and your co-workers as a colleague in the legal community. You are no longer a student, and that can be a challenging landscape to navigate as a new attorney. So, what do the best professionals know and how do they make their marks at the beginning of their careers?
I asked six highly-respected Indianapolis attorneys, who have experience ranging from nine to 41 years, to share a tip they wish they had known as a first-year lawyer.
In 2021, the hiring of lateral associates skyrocketed 148.5%, the largest year-over-year increase recorded, according to NALP. Likewise, Thomson Reuters warned that by November 2021, law firms were “edging dangerously close” to seeing almost a quarter of their associates leave. However, while firms have raised associate compensation to lure talent, many new lawyers are not as interested in big salaries as previous generations of new attorneys.
According to Bloomberg Law’s Attorney Workload and Hours report from Q1 of 2021, well-being declined among attorneys, particularly those who have practiced for less than seven years. The study was the second iteration of the Attorney Workload and Hours Survey, which focused on lawyers’ experiences with job satisfaction and well-being in 2020.
Months after its entry into the Indiana market, Dinsmore & Shohl has grown its Indianapolis office by 15% in recent weeks with the addition of six attorneys.
First-year associates’ median base salary has reached $165,000, about a $10,000 increase from 2019, indicating the reductions put in place during the COVID-19 public health emergency did not have a lasting impact, according to an analysis by the National Association of Law Placement.
Taft Stettinius & Hollister has announced an annual raise of at least $10,000 for first-year associates at offices in Indianapolis and elsewhere in the Midwest.
The effect of the COVID-19 pandemic on the legal profession has been a mixed bag. In some ways, the law, like many other industries, has suffered. Corporate clients are pulling purse strings tighter, while practice areas such as personal injury have seen a slowdown in cases. But in other ways, the pandemic has been a boon for lawyers.
For my column this edition I have the pleasure of introducing a friend, Cordell Parvin, who is one of America’s premier lawyer career coaches. In late February, just before the pandemic, I sat down with Cordell to get his take on a number of questions that had been simmering in my mind. I share that exchange with you now.
A study released Thursday found millennial partners at law firms are not that different in their attitudes toward work from their other colleagues, but divisions do appear across the generations between genders and racial groups.
First-year associates at larger firms are seeing heftier paychecks, according to a national study. But the Midwest is seeing the shorter end of that stick compared to other regions. In its 2019 Associate Salary Survey report released Wednesday, the National Association for Law Placement found that as of Jan. 1, the overall median first-year associate salary was up nearly 15 percent.
Six intellectual property attorneys walked out of one law firm, boarded the elevator in their downtown Indianapolis office building and pushed the button for a competing law firm on the 19th floor. Thus, Frost Brown Todd last month bolstered its Indianapolis IP practice group by luring the entire intellectual property team from SmithAmundsen’s Indiana office. The move underscored what law firms say is a competitive job market where experienced lawyers are the hottest commodity.
It’s frustrating for any high-performing employee: You’re glued to your computer, fingers furiously flying across the keyboard to finish your report, brief or project. Then you look over and see a co-worker chatting with a friend, playing on their phone or scrolling through their Facebook feed, seemingly without a care or a deadline to meet.
A cultural shift is happening in the practice of law. As more millennials join law firms, their way of thinking, working and learning is slowly becoming the norm as older attorneys and their customs retire from the profession.