TransformingYourCareerTransformingYourself

RTO mandates are growing in overall number and how many days employees have to be back in the office. What used to be called "face time" has re-emerged as critical to a career. On Reddit Big Law a 2nd-year associate was put on a PIP (Proposal to Improve Performance). One reason, put in writing, was that on some of the mandated RTO days they left the office at 4:30 PM to continue work at home. Their generation probably is too inexperienced in The Office to get it how widely and closely they are being "watched."  In boomer times, when Corporate America was peaking, there was that old joke that so little really happens in a formal office setting because workers are watching other workers watch them and the superiors are watching everyone watching them in addition to watching them.  I vividly recall how in my Fortune 50 days wondering where ABC was. Several blurted out in unison, "They went into Joe's office seven minutes ago."  Brass are not excluded fro...

Decades ago, current Yale academic Jeffrey Sonnenfeld systematized how difficult it was for business leaders to let go of power when the job ended. That was the book "The Hero's Farewell." Recently, after his retirement from Disney Bob Iger managed to be rehired again as CEO. The results of the coming proxy fight will determine if that move was reckless and a better course of action would have been to build another kind of post-power kind of life. Now we have the 2024 perspective on post-power in terms of US presidents. That's the book "Life After Power" by bestselling author and cohead of applied innovation at Goldman Sachs Jared Cohen.  The reality of what Cohen documents is palpable. Yesterday, former US presidents Barack Obama and Bill Clinton seemed all too happy to be back in the spotlight during the gala fundraiser for current US president Joe Biden in Manhattan. It is legend how one-term US president Jimmy Carter did extreme reputation restoration th...

 " ... [Thursday's fundraiser]  would allow the Biden campaign to invest heavily in advertising and on-the-ground resources in battleground states at a time when the Trump campaign  has lagged behind ." - The Hill , March 28, 2024 Entering March 2024, the Trump campaign had about $42 million in cash. The Biden campaign had about $155 million. And after tonight's gala fundraiser with all the big names, including two former US presidents (Democrats), and the open wallets, there could be the $25 million more Biden is hoping to add.  Campaigns need money. Enthusiasm helps bring in that money. And the enthusiasm was there tonight. That was the loudest voice in Radio City Music Hall.  In contrast, some big name GOPers are not showing enthusiasm for Trump. They range from former US president George W. Bush to former US vice president Dick Cheney. Meanwhile there are plenty of other sources of funding to the Democratic Party among other deep pockets. For example, genero...

  " Manhattan to be traffic hell today as Biden, Obama and Clinton hit town for record $25M Radio City fundraiser " New York Post , March 28, 2024 This is the perfect opportunity for power players in liberal Big Law firms to belly up to key politicos at the fundraiser. The buzz is to give money to Joe, otherwise with the Robert F. Kennedy Jr. spoiler, Donald Trump could be in.  According to Open Secrets , the major Big Law contributors to the Democrats include: Kirkland & Ellis Paul, Weiss Akin Sullivan & Cromwell Covington Quinn Emanuel Holland & Knight   In my career coaching, more and more clients are worried about the future of entitlements such as Social Security and Medicare. On those, Joe has their backs. Limiting beliefs? Self-defeating? Stuck? Complimentary consultation with Coach Jane Genova (text/phone 203-468-8579, janegenova374@gmail.com)   

  There are two very different sagas playing out in law firms. One is about a retrenchment in hiring of both associates and partners. In its April 2024 report the National Association of Law Placement documents this: Hiring of associates is down 43% and of partners 10% Lateral hiring is down 35% More layoffs could happen. Meanwhile summer classes are smaller.  On the other hand, we know from intel that some firms such as Kirkland and Ellis and Paul, Weiss are expanding geographically. That includes aggressive hiring and poaching (that is, lateral activity). More of this will continue, especially internationally as M&A picks up steam again in Europe. On the domestic front there are the opportunities where the energy industry is. AI consumes plenty of electricity. No longer is any professional service such as law (or management consulting, finance or public relations) a monolith. That means you have to hone your skills, experience and networks to get into the ones hiring and...

"The arrival of ChatGPT upended the technical writing marketplace, allowing employers to hire lower-paid writers who leveraged AI to cut corners. The hourly rate dropped to $40 [from $85]." - USA Today , January 24, 2024 Meanwhile, with the glut of content-creators, including in the once untouchable field of technical, that contract assignment is harder to get. It can be near impossible for those over-50 whom the USA Today article focuses on. Like so many currently, they had no intention to retire until their 70s but life decided differently. Despite filing thousands of applications and even landing interviews they remain without paid work. As a coach what I pick up in this doom-and-gloom coverage are two things: 1) Those seeking employment primarily search in their former field of expertise. They should try other lines of work, including setting up multiple micro businesses. In addition, they could become certified or licensed in niches which are in demand such as hands-on p...

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 " I don’t think the extreme responsibilities of becoming a manager are worth the minimal pay raise" - Header on  Fishbowl Consulting , March 25, 2024 So far, the almost 50 comments coming in are mixed. Some have experienced having the title as a way to advance upward in an organization or in a job hunt elsewhere. Others rule it out as a pile-on of tedious meetings and lots more responsibility. In between those extremes are those who have enjoyed what's in the job description of manager such as creating strategies, coaching, leadership and more. However, there is also the reality that the function of manager is being eliminated, just as happened in Corporate America in the mid-1980s. About 30% of current layoffs involve managers and Bayer has adopted the turnaround move of purging the function and introducing self-directed teams who figure things out. In some sectors, such as the large law firm, managerial tasks are frequently not welcome as an add-on to practicing law an...

" McKinsey & Co.  warned some US consultants last week they are running out of time to win promotion, raising the 'up or out' pressure on staff as the global consulting industry struggles." - Abovethefold Article in Bloomberg , March 27, 2024 This is yet another sign that once-iconic McKinsey is a professional services firm in trouble. One challenge is overcapacity of manpower. It has also warned about 3,000 consultants about "concerns" regarding their performance.  In addition to the overall slowdown in management consulting, McKinsey faces scrutiny from myriad sources about its client list including assignments with China and Saudi Arabia. There also has been that hatchet-job book "When McKinsey Comes to Town." The most damning aspect of the expose is that former employees dump on it. Posts on the professional anonymous network Fishbowl Consulting aren't optimistic about a turnaround at McKinsey or at other players in that sector. In cont...

''I filed an HR report for a Counsel at my first firm after confiding in the managing partner how abusive they were. My work dried up after they took me off all matters with the Counsel and I ended up lateraling at the end of the year."  - Fishbowl Big Law, March 26, 2024 Maybe it's Sunday School with parables about divine justice and that the righteous will prevail. Maybe it's being convinced they are special, especially because of being so smart. Maybe they actually want to commit career suicide and be forced out of what to them is an unbearable work situation. So, they directly address what they experience as a higher-up in a law firm who treats them badly. Except in unusual situations (as in a lawsuit or when criminal activity is involved) the person with the power prevails. After all associated with that power is the ability to bring in lots of revenue to the firm, positive media headlines and intel from important people on their networks. In contrast, those ...

Those wanting the real scoop on whatever are turning to their peers. Not establishment media centers, which, as Axios documents, have become fragmented, therefore not usually capturing the total picture. In addition, social media is losing its influence in serious business matters.  So, that's all the more reason to beef up our skills in networking. The job-search reality, as we know, is that opportunity usually comes through personal contacts, not an email campaign or applying through job boards and even companies' portals. Now, the importance of personal contacts extends to making it professionally day-to-day with the information, insight and help opening doors that we need. Last week a brandname coach contacted me, not scrolled media coverage, about the going rate to bill for group sessions. It was a cold contact. I shared what I knew because this was a relationship I needed to develop. Yes, my focus is on building networks. I advise clients to do the same. Obviously the gr...

   The function of "ghostwriter" has always been controversial.  We boomers recall the crushing disappointment we experienced when it was rumored that our liberator from Eisenhower conformity - John F. Kennedy - might not have written "Profiles in Courage." His public relations machinery did crank out that Ted Sorensen might have pitched in, but the lion's share was the hands-on work of JFK. We wanted to believe. That was then. Later, as we were introduced to how the world of power operates we got it that ghostwriting was not only prevalent but downright necessary. What big wig had the time to research, write and edit all that material which voters, customers/clients, regulators, investors and more consume? That acceptance, however, is in play currently. The media made it known that Princess of Wales Kate Middleton wrote that touching announcement about her health - and that she did so quickly. (The latter resonates because this is the era of productivity and li...

According to Pew Research , 19% of us over-65 continue to work for income. That comes up to about 11 million.  But, as a career coach I bear witness to the tragic part of that: Those who had once been prominent in their fields and currently are just hanging on. You got it. They are bottom-feeding.  On LinkedIn, they dogmatically pontificate about what should be. Usually that noise receives no likes, comments or reshares. On X, Instagram, YouTube, TikTok, Facebook and more they bore.  In nowhere venues they deliver supposedly keynote talks which bring in no business.  Whatever residue of branding they had becomes cartoonish. The good news is that there is a solution: Start something that is new for them. That is, they can rebrand with a fresh persona.  One client trained for a license in long distance driving.  Another become certified in addiction counseling.  A third opened an online store for spiritual jewelry.  In the process they have develope...

  There is plenty of buzz about why Kirkland & Ellis landed the assignment to defend Apple in the DOJ antitrust lawsuit.  But the reality is that Kirkland & Ellis did get the business. The legalities are bound to go on for years and at the rates the law firm bills that one lawsuit in itself will bring in lots of money. This can bring in other antitrust new business. Also, Kirkland and Ellis will be included in plenty of the media coverage about the government's antitrust focus.  Recently Kirkland and Ellis has also been covered by the media for not so positive developments. Its legend in restructuring Jamie Sprayregen left. Also a number of its lawyers in London went with Paul, Weiss. Both were major media stories.  In my career coaching Kirkland and Ellis alumni, all of them praise the thoroughness of how their former employer approaches cases. Maybe that's what attracted Apple. Limiting beliefs? Self-defeating? Stuck? Complimentary consultation with Coach ...

  "I failed the certification exam for project management." That's what a client lamented to me earlier this week. They had begun preparing for that 18 months ago. They do have marketable hands-on skills in the wellness category. "18 months ago the world was different. You were different. Managers are no longer in demand. In fact, they are first to go on the chopping block." My response to her - essentially, you're not missing out on much - has been reinforced by an article in The Wall Street Journal about Bayer's shift from the traditional management layers to self-directed teams. They number 5,000 to 10,000 teams. Here is an excerpt from the WSJ: "Executives [at Bayer] will no longer pass orders to employees only through layers and layers of management, with bosses explaining 'where exactly you’re going to spend your time and what exactly you’re going to do,' said  Sebastian Guth , president of Bayer U.S. 'Instead, you will spend time...

"A local attorney [Ted Rao] is accusing the manager of a popular Crown Heights bagel joint of purposely sabotaging old bagels — including covering them in chemicals and food scraps — so that the dumpster-diving dogooder can’t donate the leftovers." -  New York Post , March 21, 2024 Sure, the dumpster serves a concrete function: It contains what could be usable food that can be distributed to those who cannot afford groceries. But it also creates a platform for messaging about everything from waste to the reality that in wealthy America too many go hungry. That total package reaches back to the counterculture of the late 1960s and early 1970s. Back then, we boomers were on the front lines of a mission to bring America back to the people. As with Rao, a key messaging tool was diving into those dumpsters in affluent communities. Then, we gave out the food and other merchandise to the needy in not-so-well-to-do places. We asked for their votes for progressive candidates. As a for...

In the eyes of younger generations, we boomers are monsters.  Here we are hogging up entitlements like Social Security and Medicare. Meanwhile, we're  still grabbing onto paid work and the big titles in organizations. You bet, we're clogging the pipelines for other generations to have a shot at promotions such as becoming an equity partner at law firms like Cravath or Paul, Weiss or a managing director at management consulting firms like Deloitte and BCG.  Overall in careers, yes, we had and have the edge because we didn't have debt. Education, all the way up to the Ph.D., JD and M.B.A., was cheap back then and scholarships/fellowships were plentiful. Therefore we could take the risks of demanding more money and power and if that didn't come through landing a better job. The old joke was: Walk across the Avenue of The Americas in Manhattan to a much better job. No one I know lost career momentum back then. Added now to that list of why to hate boomers is this: Our gener...

Can Gen Zers build such wealth ...  39,512.13 USD ▲  +401.37 (+1.03%) today March 20, 4:55 PM EDT  ·  Market Closed

Ever since it's been announced that legal legend James Sprayregen was exiting Kirkland & Ellis for Hilco Global there has been ramped-up interest in the broad umbrella topic of restructuring. That includes bankruptcy.  For example, on X today there are questions about the ethics of bankruptcy, especially in Texas. (Well-known is the Texas 2-step).  Now. on Fishbowl Big Law is this: "Anyone have insight into the restructuring group at Paul Weiss? Culture, types of deals, etc?"   Meanwhile deep in the collective memory bank as we reflect on the 14- to 16-hour day is that Sidley Austin suicide Gabe MacConaill was handling the complex Mattress Firm bankruptcy. Some contend he pulled the plug to escape the pressure of extreme overwork. Back at Sidley he had lots of administrative commitments such as overseeing summers. That's real work since a summer with an unsatisfying experience can return to the law school, badmouth the firm, and none of the best and brightest wil...

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  " Jamie Sprayregen, one of the top U.S. bankruptcy lawyers, is leaving Kirkland & Ellis's pre-eminent corporate restructuring practice for Hilco Global, a private financial advisory firm, Hilco said ..." - Yahoo Finance , March 19, 2024 In a sector such as Big Law there are giants. Then there are the disruptors. Restructuring mastermind Sprayregen is among the latter. Anyone with any association with Kirkland & Ellis talks of him with reverence. I encounter that all the time in coaching the firm's alumni.  This is the second time Sprayregen is leaving Kirkland & Ellis. The first was in 2006 when he went to Goldman Sachs for three years. Then he boomeranged back.  Of course, partner exits, especially of the top stars, raise question about the firm being left. Could this be a sign of underlying trouble? Recently Kirkland & Ellis lost major twinklers in the London market to Paul, Weiss in multiple raids. In that niche as well as in the US Paul, Weiss ha...

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  " Tech Job Seekers Without AI Skills Face a New Reality: Lower Salaries and Fewer Roles" - The Wall Street Journal, March 18, 2024 Overall, last year in IT only 700 jobs were added. This year what's expected are 20,000 to 30,000 more job cuts in general IT. Also, walking into a $200,000 IT job isn't so probable. If you do land a job in IT it is likely to pay $100,000. It's not just end-users which are switching to becoming more efficient or even disrupting processes through generative AI. Within tech that's also the direction of how work is done. Job postings for those with generative AI skills are up 42% and the average salary is $174,727.  If you don't fit in that box, your career path in IT could be over. The joke in Canada about this is: No AI expertise? Go work on an oil rig.  Note this blurb from Canada on professional anonymous network Blind : : ... we had an opening for an SWE in my team. 1700 applicants, remote job but must be in state. Legacy s...

  It's the gush season for large law firms which escaped the down cycle in transactional demand. The term "record" as applied to gross revenue and profits per equity partner is all over their press releases. But scapper Kirkland & Ellis remains the big kahuna in the US. It announced that that revenues are at $7.2 billion. In addition its Profits Per Equity Partner surged to $7.955 million.  Meanwhile the firm taking on Kirkland & Ellis - Paul, Weiss - also had a record for revenue. But that was $2 billion. Its Profits Per Equity Partner was $6.5 million. More than a  million less and that could be the most important metric in Big Law which is focused on what partners take home.  However, among the major stories of these times is how Paul, Weiss pulled off multiple poaches of Kirkland & Ellis' transactional talent in the London market. So, Kirkland & Ellis is being perceived as, well, vulnerable.  Actually, the new joke is that Paul, Weiss is Kir...

 " Saurabh Kumar Ladhha, a 25-year-old consultant at McKinsey & Company’s Mumbai office, jumped off his 9th floor in Matunga, on February 23, 2024. The police remarked that he died by suicide due to work pressure."  That's the take on the death of this ambitious Gen Zer in Mashable . No oddball, he was well-liked by his colleagues.  Responses to this tragedy vilify the glorification of working 14 to 16 hours a day. That, it is noted, begins in graduate business schools.  The popularity of such an ethos can make those of us earning a living in the normal way (50 hours a week) feel like perhaps we should apologize for not grinding. Hey, I treasure those hours walking my four-legged child and watching her play in the dog park.  Here in the US we experienced the suicide of equity partner at law firm Sidley Austin Gabe MacConaill. In addition to a complex Mattress Firm bankruptcy that he was handling there were administrative duties at the firm.  According t...

 " Do you have work for me?"  That's what The Wall Street Journal reports those at major consulting firms keep asking. If they don't land work, of course in time it is likely they will be terminated.  The same phenomenon is happening in other prestigious sectors ranging from tech to law. Those I have coached describe that process as "clawing for work."  One woman who became pregnant opted to protect the fetus from extreme stress and stopped clawing. The law firm laid her off.  After the birth she joined her husband's financial firm, on the business side. She never looks back.  And that could become the MO of all those for whom clawing isn't paying off: Pivot onto another career path.  That could be in the trades. One client knocked out of the white-collar box entered a long distance driving training program, paying tuition of $7,000. Within three months he was on the road, with no nostalgia about how it used to be.  His attitude is gratitude that ...