Texas Lawyer Recruiting & Attorney Search : Courtney Sapire : Texas Lawyer Jobs

The economic slump has caused demand for most transactions lawyers to come to a screeching halt. Deal flow is stagnant, credit is scarce, and many attorneys who specialize in real estate and structured finance are looking for jobs.  

Areas that continue to experience growth – and hiring -- include:

• Renewable energy project development. Attorneys with experience in power project development, especially wind projects, are in high demand. 
• International trade & global compliance. FCPA violations, import/export issues and customs audits keep GCs awake at night. These are mission-critical positions within legal departments.
• E-discovery managers. For many companies that experience a high volume of litigation, these positions are starting to become more prevalent.    Recessions tend to increase litigation, so this position will likely play an important role on corporate legal teams.
• Regulatory practices. Demand is increasing for regulatory lawyers, including those who specialize in energy, environmental, securities and now banking.

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The credit crisis has wreaked havoc on several practice areas, including real estate and finance.   Many lawyers who specialize in these practices are seeking new positions. The problem is that there aren’t many openings for these lawyers right now. Worse, the trend for the last 5-8 years has been to hire “specialists,” those with niche areas of expertise – the round peg for the round hole. 

Here are some tips on how to break into a new area, or “re-tool” your practice:

-          Start building your résumé and your knowledge base.  Attend CLE courses and list them. Research and write an article about a particular area. Better yet, find the experts and ask if you can assist with an article. These people are usually on the speaking circuit and are frequently publishing. They may welcome some assistance on a particular topic. 

-          Try to get contract work in that area. Many companies and firms need attorneys to fill in on a project basis (not just for document reviews).

-          Take on some pro bono work in that area if you can find it.

-          Work for a government agency. Although it may be a temporary financial setback, the hands-on experience can be fantastic.

-          NETWORK.   Despite the trend of hiring lawyers with a track record in a particular area, there are still employers out there who simply want hard-working individuals with bright minds.   They just won’t pay a search firm to find them.

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Given the state of this economy, I thought this topic deserved some additional attention (See Part I). Even in an economic downturn, companies continue to hire lawyers – but they hire lawyers with different specialties than the ones who are in demand when business is good.

Corporations are trimming budgets now, and in an effort to reduce outside counsel spending, many are adding to their legal departments.   At the same time, candidates are skittish about making career moves in this market.   “Bonus-driven cultures” are growing more distant in the rearview mirror, and prospective in-house attorneys are now focused on base salary, job security, and corporate financial viability. Despite lay-offs, falling stock prices and general gloom and doom, recruiting top candidates is not any easier! 

A strong first offer still makes a powerful impression, and will increase the odds of landing an in-house counsel that may save the company hundreds of thousands in legal fees.

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