Litigators Shift to Being the New Rainmakers, Have Access to More Job Openings

 Conventional wisdom, at least in recent times, is that the business of the business of large law firms is corporate, that is transactional practices. That's where the rainmakers bring in clients and along the way those clients also will seek assistance with their lawsuits. 

Well, documents Bloomberg Law News, that's changing. 

The rainmakers are popping up in litigation practices. Clients for that kind of service, who are pleased, will also bring in their transactional legal needs. In addition, according to the listings on Firm Prospects, currently there had been almost triple the jobs in litigation compared to corporate. Corporate - 685. Litigation - 1861.

Three factors are drivers. 

Litigation is recession-proof. And more of the "experts" in this slowing economy are projecting a recession. Given these economic realities, many businesses are sitting on decisions which would require a law firm's corporate practices. But when you gotta sue you gotta sue. Or maybe you're being sued.

Litigation tends to increase in times of angst. The jittery might be trigger-happy, pressing the button on launching a lawsuit.

In hard times some kinds of litigation surge. Those include lawsuits by those terminated. 

But the power of litigation to create business-development opportunities isn't new. 

Recall, for instance, that when Paul Weiss was primarily a Wall Street litigation firm, current chair Brad Karp earned his reputation as a rainmaker. Early in his career at the firm he was prominent in big-name lawsuits. 

But things change. When Karp became the leader in 2008 he started restructuring the firm to include transactional practices. His take was that Paul Weiss couldn't remain a top New York firm if it didn't also have a corporate footprint. 

So, here we are. It might not only be idealistic law students who head to litigation instead of corporate. So might the hyper-ambitious. Litigation could be where the mobility is, as well as the opportunity to create a powerhouse brandname. 

In my coaching, I direct clients to retrieve data points themselves and then connect the dots on their own. Don't rely on conventional wisdom about career prospects. There's typically a lag between opinion and what's beginning to emerge in labor markets.

Rattled, maybe the first time since you started working? Faith-based Coaching. Special expertise with transitions, reskilling and aging. Psychic/tarot readings, upon request. Complimentary consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com). Yes, test out the chemistry.