Job Responsibilities
Review documents to be sent to opposing counsel or the SEC for
privileged and/or responsive material (i.e., responsive to
requests for docs containing specific info that are requested by
opposing counsel or the SEC).
AND/OR
Review documents received from opposing counsel for responsive
info (i.e., info responsive to our requests for specific info)
ALSO
Supervise other contract attorneys and/or paralegals in
performing the above-mentioned tasks
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Job Requirements
Must have a law degree and be admitted to the bar in at least
one state (usually NY is required if that is where the work is
done)
Career path: Virtually nonexistent. Almost none of the law
firms who hire attorneys on a contractual basis ever hire any of
the contract attorneys on a permanent basis. It is a "career"
that provides little to no health benefits, consistent wages, or
any professional fulfillment
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Uppers
If the hours worked are high (over 55 hrs per week), and a good hourly rate is
earned (plus time and a half overtime), then a decent wage can be earned. Just
enough to help pay off the monthly interest of one's law school loans.
No responsibility outside of the workplace. In other words, you don't bring your
work home w/ you.
The work itself requires little to no mental effort (this is both good and bad,
depending upon one's outlook)
Relatively flexible hours (you get paid hourly, so if you must attend to
something else, then [in general], the employer/agency doesn't care if you miss a
few hrs of work)
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Downers
No health benfits, or, if offered (through the agencies), they
are often expensive
Many of the fellow contract attorneys are often less than
intelligent, content with underachievement, and are often
socially retarded.
You can be summarily "let go" at any time (there is no job
security whatsoever), for any reason
The work is mindless and is a complete waste of one's education
and intellectual potential
There is no "future" (i.e., you can almost never "move up"; what
you do is what you will always do; there is no room for
advancement
Working as a contract attorney is a "career killer" (i.e., once
you work as a contract attorney, it is very difficult to get
hired as a "real" attorney anywhere else. It is looked down
upon, and for good reason [in my opinion]. The work is mindless)
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Lifestyle
Lifestyle?? Are you kidding?
Sufficient money is only made when many hours (55+ per week) are worked. If
it's less than those hrs, then earnings are insufficient to pay bills and/or to
save any $ at all. It offers no chance to have any sort of "lifestyle" that the
general public equates with that befitting an attorney. Unless Mommy and Daddy
pay your bills, there is no chance to save up $ and buy a home/apt and start a
life. Quite frankly, it sucks. I would have been better off learning a trade
(like plumbing, or computer computer programming, or auto mechanics)
Virtually no business travel is required, unless the assignment is performed at
a location out of state (in PA, CT, NJ, etc.). Such travel is almost never
compensated.
Social events are virtually nil. Contract attys do not get invited to law firm
functions (makes sense, as they are not perm employees), and agencies rarely have
any social functions for their employees
Dress code is usually determined by the law firm. Usually it is biz casual, but
it may involve more formal attire (e.g., suits w/ ties, etc.)
Do anything but this. It is not recommended. And neither is law school.
Remember how Chris Rock said that his #1 job as a father is "to keep hi daughter
off the pole"? Well, let me amend that: my job as a father is to keep my
daughter "out of law school." It was the biggest and most costly mistake that
I've ever made.
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Compensation
There is no base salary for this position. Compensation is on an
hourly basis, usually between $25 and $40 per hour, with the
possibility of time-and-a-half overtime sometimes being offered
after 40 hrs per week have been worked. Most agencies indicate
that "the [contract atty] industry is moving away from time-and-
a-half OT." That's b.s. All it means is that the agencies want
to keep more money for themselves.
And speaking of money, here's how it works: Law firm hires
contract atty agency; law firm bills its clients from $150-$250
per hour for work performed by each contract attorney; law firm
pays agency approx $100 per hour for each contract atty; agency
pays each contract attorney $25 - $40 for each hour worked. Yup,
that right: contract attys do the actual work, and get paid only
$.25 - $.40 out of every dollar that the agency makes from the
arrangement. Not bad, eh? For the agencies, that is. Lesson
learned: the agencies do NOT have the contract attys' interests
in mind.
Bonuses: Some agencies will give a contract atty a "bonus" after
working 400 hrs or more. Usually the bonus is worth 8 hrs (1
day's pay). Sounds great, except most assignments don't last 400
hours or more, and if you're fortunate enough to have worked the
hrs to earn the bonus, then you must hound the agency to give
you the bonus. They will not do so automatically. In other
words, you usually have to fight them for it. Personally, I've
never received a bonus (I've never been at an assignment long
enough to earn it)
Stock options? None. Never been offered.
Benefits? None. Some agencies have health plans, but they are
expensive and are very inflexible (in terms of their sign-up
periods, etc.)
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Advice to Jobseekers
Do not consider this field. Do not go to law school, unless it
is an Ivy League school or if you have the connections to
guarantee you a job upon your graduation. Otherwise, it is a
collosal waste of time and money. There are too many unemployed
lawyers, and, as a result, the starting salaries have tumbled
into the $28 - $40K per year range. That is a non-living wage
(in NYC) folks. And for that, you will be absolutely busting
your ass. Ignore the dumb-ass shows on TV that show how
glamorous it is to be a "young lawyer." The reality is, it
sucks. ALL of my friends who barely graduated from college are
making way more money than me -- building houses, selling
mortgages, etc. -- and their quality of life is WAY better. Go
into the health professions, or computer sciences, of financial
arena, but don't waste your precious life on a law career. It's
not worth it.
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