Joel Chouinard, founder of SharpEdge Financial, a boutique financial planning firm in Dallas, understands the goals and needs of big law attorneys, especially after his attorney wife moved away from big law. For big law attorneys considering job opportunities outside big law firms, he suggests taking practice steps and weighing the pros and cons.

Dive into your spending and make cuts where necessary.

Chouinard advises creating a budget and cutting unnecessary expenses. Not all attorneys live lavishly, but working sixty-hour work weeks extends itself to opting for conveniences such as hiring housecleaners, gardeners, pool cleaners, and ordering take out multiple times a week. Once you categories spending, divide expenses between essential, discretionary and convenience and determine where you can cut expenses.

Factor health benefits into your budget.

This could make a dent in your budget, especially if you elect to use COBRA or buy coverage in the individual marketplace. 

Cut back on retirement savings.

This strategy may give you some breathing room as you make the transition, at which point you can ramp up your retirement savings again. 

Build a sizable “transition” savings account.

While working for big law, set up a large chunk of savings in an account to help supplement your income. This account could give you a cushion and buy you some time while you adjust to your new salary.

Are you interested in learning more about planning for a job change? Read more in this law.com article.

Greenberg Traurig’s Jake Evans is a shareholder who practices complex business litigation, and he shared his insights into strategies that allow law firms to thrive in the current landscape.

Win: Evans mentions that a law firm racking up wins for clients creates client loyalty and builds up a good reputation

Taking Client’s Matters personally: View your clients matters as though they were your own and this will help the client-attorney relationship and bring referrals.

Authenticity: Develop authenticity in all method of communication, whether it’s client meals or speeches or conferences. Clients will know if you are not authentic.

Execution: Showing up creates opportunities, whether that means showing up at a networking event or client dinner. 

Building a brand: As an attorney, your brand is what your peers would say about you, and every action you take in your practice should build your brand.

Stay in front of your clients and prospective clients: Working on keeping your current clients. Don’t focus so much on getting new clients that you forget your current clients.

Identify your target market: Determine the industries, businesses, or individuals that align with your legal expertise and experience and understand your client’s needs.

Understanding your ideal client’s needs, pain points and challenges allows you to tailor your services and marketing efforts to meet their specific requirements. A clear and well-defined target market enables more focused and efficient business development initiatives.

Never Stop Growing: Keep growing your client base and business size. Business development is crucial for the law firm’s long-term success. 

Are you interested in more about strategies for business development? Read more in this law.com article.

The push to return workers to the office are forcing caregivers to choose between potential career advancement and the flexibility of work-life balance.

As law firm leaders require a stricter return-to-office work policy, they also face consequences of losing diverse talent in their firms.

Remote work arrangements that emerged during the COVID-19 pandemic transitioned into hybrid work arrangements recently, and has helped many caregivers attain work-life balance. 

Comments from ALM’s mental health survey indicated that one attorney felt that “particularly as a working mom with young kids, the pandemic shift to remote work has been life-changing and is THE reason I am able to make it all ‘work’—and happily so.”

The American Bar Association in its annual Practice Forward report 2022, shows that 47% of all those interviewed felt their ability to balance work and family obligations had increased with hybrid work, with “56% of women compared to 42% of men report[ing] an increased ability to balance work and family obligations due to remote or hybrid working.”

The report also notes that women were more likely to report higher quality of work and productivity when working on a remote or hybrid basis. 

However, firms such as Skadden, Arps, Slate, Meagher & Flom and Davis Polk & Wardwell have begun the process of bringing workers back to the office, with ramifications for the coveted hybrid working arrangements for its employees. 

Are you interested in more about the return to the office? Read more in this law.com article.

Michael Maslanka, associate professor of law at University of Dallas, advises against making these mistakes when writing a resume. Here are some myths to stay away from when crafting your resume:

Myth 1: Just Facts

Make the facts of your resume meaningful so that the reader knows the importance of any awards or accomplishments listed. For example, an explanation of the award on the resume also lets its reader know that the author was vetted by others. 

Myth No. 2: Law Only

Adding more than just legal experience to your resume could help you in the interview process. You could add “Legal Experience” and “Life Experience” sections to your resume and reflect on what each experience means.

Myth No. 3: Nothing Controversial

“Transparency is a virtue in life and on resumes.” Sometimes full disclosure will lead to a job that is a better fit for both the candidate and firm. 

Myth No. 4: Play Safe

Playing it safe often leads to being part of the white noise for recruiters – standing out sometimes helps you in both building your resume and the interview process.

Myth No. 5: Always Short

You don’t always have to stick to the one-page resume if you have something compelling to describe.

Are you interested in more myths of resume writing? Read more in this law.com article.

Being an attorney can be a difficult career path, but common pitfalls can be avoided with the help of legal analytics. Aria Nejad is In-house Counsel of Lex Machina and provides guidance about using legal analytics to uncover strategic insights. 

“Legal analytics is one of the key technologies that has revolutionized how lawyers practice law in the 21st century and refers to the use of data-driven insights to make better legal decisions — it is the application of data analytics to understand patterns in litigation, including court and judge behavior, opposing counsel strategies, and case outcomes,” Nejad writes.

Three common pitfalls that can be avoided with the help of legal analytics include:

Pitfall 1: Inaccurate Litigation Budgets

Underestimating the cost of litigation can lead to financial concerns for the firm and, perhaps more costly, disappointment for the client. Before taking on a new matter, legal analytics should be the logical first step in obtaining a better understanding of the timing, cost, opportunities, and exposure involved in a new case. The key lies in identifying the right balance between risk and profitability. 

Pitfall 2: Competitive Disadvantage

Firms face increased competition and pressure to differentiate themselves from their competitors. To succeed in this environment, firms must develop effective marketing and business development strategies highlighting their unique strengths and capabilities. Legal analytics is a powerful tool that can help firms gain a competitive advantage in these areas by quantifying relevant experience, comparing it with their competitors, and quickly assembling winning pitch decks.

Pitfall 3: Developing Ineffective Strategies Based on Anecdotal Evidence

The third common pitfall for lawyers is developing ineffective strategies based on anecdotal evidence. Lawyers can supplement or correct anecdotal information by gathering data-driven facts for better decision-making. The right legal analytics platform provides lawyers access to a wealth of data about previous cases and outcomes. 

Are you interested in more advice about legal analytics? Read more in this law.com article.

The Young Lawyer Editorial Board presents five main tips to assist attorneys starting their careers:

Become Comfortable With the Unknown

While the first few years of starting in a law firm can feel overwhelming, especially for those attorneys who started their careers during the pandemic. Young lawyers may feel “imposter syndrome” but you’ll have to remember that not knowing much when you start is okay, and just focus on producing your best work and learning as much as possible as an associate.

Understand That Mistakes Happen

Tell someone immediately when you make a mistake – the worst thing you can do is try to cover it up. This is a disservice to your team and your client. Communicate with the partner and tell them what happened. They will respect you for acknowledging your faults and taking accountability—no matter how upset they may be at first.

Be Humble

Have confidence in yourself, but not arrogance. Even if you were top of your law school class or editor of the law review, those accomplishments mean less in a practice. Your responsibility is to learn will lead to a healthier dynamic with the partners. 

Ask Questions and Demonstrate Interest

Be the associate who is interested in the work the firm does and understands the business model. Be proactive and ask questions, and help identify issues. Do not wait for a partner to come give you direction, but collaborate with the partner on the next step. This will help partners trust you more with more work and responsibilities, and help you further yourself in your career.

Be Available, But Set Boundaries

Make yourself reliable, seek out work, volunteer to fill in for a court appearance. These simple acts will help demonstrate to the firm that you are reliable and dependable.  However, avoid people pleasing and set boundaries if you are drowning in work. Partners will help accommodate you and appreciate that you know your boundaries.

Are you interested in more advice by The Young Lawyer Editorial Board? Read more in this law.com article.

Last week, Dechert announced its decision to reduce its global workforce by 5 percent, following a 15 percent dip in profits earlier this year. The reason given was a goal of “aligning staffing with levels of demand.”

Days prior, Cravath Swaine & Moore announced it was cutting associate positions in London. Cadwalader Wickersham & Taft also cut about 15 associates and 30 business professionals last month.

The trend rattle associates who worry about whether they could be next.

Recruiters have also mentioned that the associate recruitment market has stayed quiet as firms clamp down on costs, with job solicitations going out to new associates slowing down. Work at the firm has also slowed down, with one associate reporting feeling “paranoid” because the work has dropped off. 

Another associate who spoke to Krishan Nair for law.com agreed, saying “Quiet work activity does feed into overthinking and paranoia. When you’re working, you’re engrossed in the work. Last time it was quiet—I asked, ‘why the quiet?’. You do think about what’s going to happen in an environment where you’re judged by your hours and targets. If I’m not working, I’m not hitting my targets, so what’s going to happen? It’s easy to get drawn into a sense of paranoia.”

A few tips to alleviate the fear and paranoia includes:

Good partners: Work with good partners in a good team. They’ll keep you informed on what’s happening, and if you have a good line of communication with them, you can ask them for more information if you hear there are going to be job losses.

Be prepared for job loss: Associates change firms a lot, so work on being proactive and marketable to a future employer.

Are you interested in learning more about managing the job market as an associate? Read more in this law.com article.

Julie Talenfed of Boardroom PR writes about the importance of law firms learning to utilize the online platform LinkedIn. Firms, businesses and agencies can convert their contacts into clients via LinkedIn.

Talenfeld mentions that companies should start by creating a company page for the firm. Some tips from Talenfeld include:

Tell Your Story. Remember to showcase your firm to the world, announce company news and updates and discuss trends in the industry.

Write and Share. You can share detailed content on LinkedIn that is easily shareable to your network. Things that can be shared include presentations, blog posts, infographics, webinars, and podcasts. 

Get Noticed. Having an active LinkedIn Profile can boost your firm’s online presence. Focus on the search engine optimization and improving your company’s overall visibility. 

Boost Your Network. Social media helps greatly with networking, and LinkedIn is a powerful networking tool. You should promote your company’s profile and build a strong following to connect directly to those in your industry. 

Are you interested in learning more about using LinkedIn to further your career? Read more in this law.com article.

Sameer Mohan, Louise Skinner and Wendy West Feinstein, partners at the Houston office of Morgan, Louis & Bockius, shared some advice on staying focused while managing the stressful job of being an attorney.

The three attorneys write that “finding meaning in our work helps us stay engaged and motivated, want to keep learning, and feel as though our time and potential are well spent.” The ability to engage and focus means feeling more positive about being a lawyer.

A few strategies they shared to maintain meaning in their work as lawyers includes:

Carve Out a Unique Path

Focusing on a particular industry sector or being an expert on a subject matter makes it easier to keep tabs on developments and trends. This may increase self-worth as those skills are recognized and appreciated at the office. They advise that being flexible and trying new opportunities may help carve that path for an individual.

Make Time for Networks and Resources

Take advantage of any initiatives at your firm that helps build support networks. Reach out to colleagues to discuss situations outside of work. These connections may help you build a community of support.

Express Gratitude and Serve as a Guide

A quick thank you note or act of appreciation will help build a more gratifying work environment. Help new attorneys navigate deals, conduct investigations, etc. Helping To guide another will give senior attorneys more satisfaction as they mentor the new generation of lawyers.

Master What You Can Control and Embrace Challenges

Since you can’t always control whether you win or lose a case, it’s important to focus on what you can control. An attorney can control their preparation for a meeting or researching a brief instead of focusing on whether they might win or lose a case. Focus on working through losses as opportunities to grow as a lawyer.

Are you interested in learning more about staying motivated and energized in your law career? Read more in this law.com article.

Stuart Clements, senior associate at Chamberlain Hrdlicka’s Houston office, recalls how lessons from his piano teacher Maribeth Gunning applied to his first years as a law associate.

Clements studied under Gunning starting at age 14, and Gunning’s methods applied later in life as well. “The ‘musical book’ theory that laid the foundation for my formative years has carried over into my personal and professional career,” Clements writes.

His key takeaways from his former piano teacher that apply to his career include:

Believe in Yourself

“Lawyering is an overwhelming career, and it takes a while to get your sea legs…There was no room in Maribeth’s studio for doubt, and there is little room in the legal practice for it either. Be confident in your abilities, but don’t forget the details, because they are important,” writes Clements”

Trust, But Verify

Clements advises to remember the phrase: “I have some thoughts about that, but let me look into it and get back with you.” Clients and referrals ultimately will appreciate the correct answer more than your ability to respond in the moment.

Record Your Time

Record your time every day—even multiple times per day. 

Manage Expectations

At least one shareholder in our office will use the phrase, “Work finds the good associate.” 

Respect Your Staff

I have heard far too many complaints through my tenure from staff members complaining about other attorneys being rude or talking down to staff members. Remember, these people are here to help you, not serve you.
Are you interested in learning more about achieving success as an associate? Read more in this law.com article.