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Author Topic: An associate just received news today...  (Read 782 times)

examiner_bio

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An associate just received news today...
« on: 05-22-17 at 06:21 pm »

I have a good friend who works in a Big Law firm and is farther along than I am so I always go to him for advice. It's a well know firm and in the news daily for usually non-IP issues. But today, he told me some shocking news: a major client of his, which supports most of his salary, left the firm for reasons not associated with him or the firm.  He's known about the possibility for a few months, but now it's happened (sooner than expected).  He's worried about his job prospects.  I thought I'd post it here and relay the feedback over to him.  Basically, if he's laid off tomorrow, how much will the unemployment gap hurt his future prospects? I told him initially to see if he can stay at the firm and not get paid.  But he said he wasn't sure of this option and simply wants to know if this is a situation that can be explained to another firm, or if the unemployment gap is a killer in this field. He's been in the field about 3 years now and is superb in the chem/bio area... I sort've imagine he can afford 1-2 months of unemployment, but needs to find a new gig as soon as possible to avoid a black mark on the resume.
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fewyearsin

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Re: An associate just received news today...
« Reply #1 on: 05-23-17 at 08:44 am »

START APPLYING NOW!!!!!  (really he should have been applying as soon as he became aware of the possibility of losing work)

I know he's probably busy and scrambling at his current job, but it is way easier to get a job while you have a job.  A couple months break shouldn't be a big deal (if he has a few partners that will vouch for him, that helps).  But if he waits until he is unemployed to even start looking, it may be more like 6 months without work before he finds a new gig, maybe even more.  Most of us can't afford that financially or career-wise early on.

Good luck to him!
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examiner_bio

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Re: An associate just received news today...
« Reply #2 on: 05-23-17 at 10:38 am »

Thanks for the solid advice.  Your timeline looks solid. I think he didn't start earlier due to promises that are now not fulfilled. 
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novobarro

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Re: An associate just received news today...
« Reply #3 on: 05-23-17 at 10:42 am »

What if clients have scaled back work due to budget issues.  Not enough work currently to bill required hours and no sign things will improve in the short term.
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examiner_bio

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Re: An associate just received news today...
« Reply #4 on: 05-23-17 at 11:37 am »

What if clients have scaled back work due to budget issues.  Not enough work currently to bill required hours and no sign things will improve in the short term.

I see this currently happening also with smaller clients or those overseas. At first I thought it was signs of a potential economic recession, but I don't see it enough to make a solid judgment.
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