Greedy Associates: Money Archives
Greedy Associates - The FindLaw Legal Lifestyle and Career Blog

Recently in Money Category

Gen X or Younger? Chances Are You're Not Going to Make Partner

According to recent reports, only 3 percent of managing partners at the nation's top 100 law firms are from Generation X.

This is consistent with the public's image of law firm partners as being white, balding, 3-piece-suit-wearing law firm fixtures. But even we were surprised by these numbers. On the other hand, this information might just be the push young associates need to question whether making junior partner is worth the trouble.

Casey Anthony's Lawyer Gets 5 Months in Federal Prison

A lawyer who represented Casey Anthony was sentenced to federal prison earlier this week after he pleaded guilty to charges of fraud.

The Rancho Santa Fe PI attorney pleaded guilty to one count of wire fraud earlier this year. He also admitted that he forged client signatures, and used notary stamps to convince investors to advance him millions of dollars, reports the Patch.

Northwestern University Law Renamed 'Pritzker Law School' for $100M

It looks like the latest price tag to have a law school christened after your namesake is $100 million. Northwestern University's School of Law has been officially renamed the Pritzker School of Law after a school's alumni turned venture capitalist and his wife M.K. Pritker made the $100 million donation.

According to Northwestern University School of Law -- excuse me -- Pritzker Law School, a recent donation of $100 million is the largest ever single gift to a United States law school.

If You Bombed 1L Midterms, Should You Drop out of Law School?

If you bombed your 1L exams, you may feel like your legal career ended before it even began.

Don't fret. A lot of people who bombed midterms have gone on to success in the legal field. However, that doesn't mean that you shouldn't take this chance to think very carefully about your future.

If you were flipping through Seattle radio stations last Friday, you may have happened upon KEXP's deconstruction of the Beastie Boys' album Paul's Boutique. To celebrate the 26th anniversary of that album's release, the independent radio station played every track of Paul's Boutique, along with every track that was sampled on the album. It took them 12 hours.

Paul's Boutique, like many hip hop albums at the time, was packed with samples, references, and riffs off other artists' work. Within three years of its release, that style of music would have largely disappeared, a victim of litigation as much as changing tastes.

If only legal skill and acumen were all it took to build a firm! Instead, those looking to grow a practice soon realize that marketing and business development are essential to success — and sadly, these aren’t skills typically taught in law school.

Women lawyers, in particular, can face unique challenges in building a practice and making it rain. Thankfully, Thomson Reuters, FindLaw’s parent company, is here to help with “The Woman Lawyer’s Rainmaking Game: How to Build a Successful Law Practice.” Consider it a legal aid, just as essential as any practice guide on your shelf.

Litigation is expensive -- really expensive. The cost of going to trial is one of the great motivators for settling, behind only the unpredictability of a jury.

Just how expensive a trial can be is easy for lawyers to forget. But, as Above the Law recently pointed out, normal people can still be shocked. A prime example is Peter Sterne, a writer for Politico's Capital New York, who amusingly found the cost of expert witnesses to be newsworthy.

When I first started working in law, several people told me that if I wanted to impress, I should make sure I was the first person partners saw when they came in and the last person they saw when they left. I never considered that could mean actually moving in to the office.

But that's just what one young California lawyer did -- after graduation, he gave up his long commutes and high rent in order to live out of his office, unbeknownst to any of his colleagues.

Want to be a happy lawyer? Even just a sober lawyer? Stop going after that BigLaw paycheck or partner track position and take up a low-in-pay public interest job.

No, really.

According to researchers who surveyed over 6,000 attorneys, lawyers in public-service jobs who made the least money reported the most happiness -- and less drunkenness. The results of that survey, published in the George Washington Law Review, show that markers of prestige such as making partner don't pay off with greater happiness or well-being, even though they might help you get rid of your loans a bit faster.

If you're contacted by a recruiter, or out searching for jobs on your own, at some point you will probably be asked about your salary history. If you've been raking it in -- well, horray! Whipping out your big paycheck can let potential employers know that you're worth it, at least in the minds of past bosses.

But if you're not making much, or feel like you're underpaid, revealing your salary history can put you at a significant disadvantage when it comes time to negotiate compensation later.

What's a lateral to do?