Make Friends with the Numbers

Most lawyers shy away from numbers - in fact, many choose law school to avoid having to take classes like calculus, physics, and organic chemistry.  However, numbers can be a valuable asset in a lawyer's job search (or any job search).  Lawyers can use numbers to:

1. Determine the right time for beginning a job search;  
2. Guide or coach them in their job search plans; and
3. Market or sell their experiences and achievements to potential employers. 

Consider various measurements before beginning a job search

There are many factors that help lawyers determine the right time to begin a job search.  The following factors can be measured and lawyers should consider the numbers when deciding whether to begin a job search. 

1.  Billable Hours

Obviously, lawyers should monitor this monthly number closely for a variety of reasons.  Any declining trend is one factor to suggest it may be a good time to start looking for other job opportunities - or, at a minimum, polish the resume so you are prepared if the declining trend continues. 

2. Life Changing Events

I advise all my candidates that they should reconsider a job search if they have more than one life changing events occurring simultaneously.  I classify the following events as life changing events:  birth, marriage and new job.  Thus, if a lawyer (or his significant other) is about to give birth or get married, he should probably wait before beginning a job search.  All three of these events deserve one's undivided attention - especially if giving birth, getting married or searching for a job for the first time. 

3. Headhunter Calls

Lawyers at all levels should pay attention to the number of calls they receive from headhunters or recruiters.  If a lawyer receives 3-5 calls a week from recruiters, that lawyer is probably in high demand and could find a job in the current market.  Alternatively, if the headhunter calls begin to decrease, consider that a warning.  Perhaps opportunities in your practice area are declining?  If you had planned on making a job move in the next 12 months, perhaps you should start your search earlier than planned? 

4. Book of Business

For partner level attorneys considering a job move, the size of the attorney's book of business is often more important than his resume.  The minimum threshold for an attorney's book of portable business varies by market and firm size.  In today's economy, large firms in major markets (New York, Chicago, Los Angeles) are looking for a minimum of $2-3 million in business - actual originations, not business the partner expects to bring.  For larger firms in Texas and on the West Coast, $1-2 million is the current minimum.  In smaller markets like New Jersey, Nashville and Charlotte, most firms will look at partners with at least $500,000. 

Even if a partner is not looking to switch firms, he should be aware of the minimum market thresholds to see how his own book compares.  If a partner is at a large firm with a $3 million minimum and that partner only has $750,000 in business, perhaps the partner should begin exploring other opportunities? 

Activity numbers guide you through job search plan

In the recruiting industry, large recruiting/search firms track a recruiter's activity numbers on a daily, weekly and monthly basis including the following activities:

�         phone calls to clients and candidates

�         networking events attended

�         emails to clients and candidates

�         resumes submitted

�         candidates interviewing

�         offers

�         placements

At the end of a set period of time, the recruiter can analyze the level of activity that generated results.  For example, if a recruiter made 1 placement in his first 4 months, he can then calculate how many candidates actually interviewed before receiving and accepting the job offer.  He can use this number as a guide going forward.  If he wants more than 1 placement in the next 4 months, perhaps he needs more people interviewing?  To get more people interviewing, perhaps he needs to increase the number of resumes submitted?    Thus, the activity numbers serve as guides to let the recruiter know if she is on track to make a placement and how much she should increase her other activities to increase placements. 

Lawyers and law students can track their activity numbers in their job search plans (and, if you don't have a plan, create one ASAP) similar to the way a recruiter's activities are tracked and described above.

The job-seeking lawyer can track his job search activities for a certain period of time to see which activities (or, combination of activities) generate more leads.  Start by setting goals of how many activities you will do each week.  Consider tracking the following activities on a daily/weekly basis:

�         Firms researched

�         Resumes submitted

�         Informational interviews or meetings

�         Interviews

�         Searches on job banks/postings

�         Follow-up calls/emails

�         Social media activity - blogs, LinkedIn, Twitter

�         Notes/emails to your network or contacts

Review your activities on a weekly basis - for example, the number of firms you researched, number of resumes you submitted and number of conversations you had with other lawyers.  Increase certain activities the following week and see if/how your results vary.  Review again after the second week and adjust accordingly.  For example, perhaps you increase your LinkedIn activity from 1 hour/week to 2 hours/week and you subsequently schedule 2 meetings as a result of contacts you communicated with on LinkedIn?  This can be viewed as a success and perhaps you would like to increase your LinkedIn activity going forward?

CAVEAT: 

�         Quality matters!  Make sure the firms where you are sending your resume are firms where you would actually like to work.  

 Let the numbers sell your experience

 

Without Numbers (A)	With Numbers (B)
Litigated and settled numerous preference and fraudulent transfer actions	Litigated and settled 300+ preference and fraudulent transfer actions, yielding $45 million for the debtor's estate
Reviewed and objected to proofs of claim filed against debtor's estate	Reviewed over 21,000 proofs of claim (totaling over $42 billion) filed against the debtor's estate; objected to inappropriate claims, reducing claims by 60%
Served on membership committee for Abilene Women's Bar Association	Chaired the 2007 membership drive for the Abilene Women's Bar Association resulting in a 60% increase in new members
Implemented blog for firm's practice group	Launched Toxic, a legal blog for the firm's Products Liability Section with over 125,000 readers
Chaired 2009 Cattle Baron's Ball	Chaired 2009 Cattle Baron's Ball which raised nearly $40 million for cancer research

Conclusion

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