Financial Lawyers

Finance lawyers specialize in working in a variety of fields including tax, corporate compliance, marriage and divorce, banking and public arenas. Typically, finance lawyers provide legal guidance around issues such as policy, public and environmental issues and mergers and acquisitions. The lawyers represent corporations, government organizations or individual clients during legal proceedings. According to the "United States Department of Labor Occupational Outlook Handbook," about 27 percent of lawyers are self-employed as law firm partners or as owners of solo practices.

The next few posts will be steps on how to become a financial lawyer. Enjoy! :)

"In the Halls of Justice the only justice is in the halls."

- Lenny Bruce

Economys affect on jobs

Job opportunities often are adversely affected by cyclical swings in the economy. During recessions, demand declines for some discretionary legal services, such as planning estates, drafting wills, and handling real estate transactions. Also, corporations are less likely to litigate cases when declining sales and profits restrict their budgets. Some corporations and law firms will not hire new attorneys until business improves, and these establishments may even cut staff to contain costs. Several factors, however, mitigate the overall impact of recessions on lawyers; during recessions, for example, individuals and corporations face other legal problems, such as bankruptcies, foreclosures, and divorces—all requiring legal action.

"People are getting smarter nowadays; they are letting lawyers, instead of their conscience, be their guide."

- Will Rogers

Jobs

As in the past, some graduates may have to accept positions outside of their field of interest or for which they feel overqualified. Some recent law school graduates who have been unable to find permanent positions are turning to the growing number of temporary staffing firms that place attorneys in short-term jobs. This service allows companies to hire lawyers on an “as-needed” basis and permits beginning lawyers to develop practical skills.

"Lawyers are the only persons in whom ignorance of the law is not punished."

- Jeremy Bentham

Job Outlook

Employment change. Employment of lawyers is expected to grow 13 percent during the 2008-18 decade, about as fast as the average for all occupations. Growth in the population and in the level of business activity is expected to create more legal transactions, civil disputes, and criminal cases. Job growth among lawyers also will result from increasing demand for legal services in such areas as healthcare, intellectual property, bankruptcy, corporate and security litigation, antitrust law, and environmental law. In addition, the wider availability and affordability of legal clinics should result in increased use of legal services by middle-income people. However, growth in demand for lawyers will be constrained as businesses increasingly use large accounting firms and paralegals to perform some of the same functions that lawyers do. For example, accounting firms may provide employee-benefit counseling, process documents, or handle various other services previously performed by a law firm. Also, mediation and dispute resolution are increasingly being used as alternatives to litigation.

"It is always the best policy to tell the truth, unless, of course, you are an exceptionally good liar."

 - Robert Smith

Employment

A relatively small number of trained attorneys work in law schools and are not included in the employment estimate for lawyers. Most are faculty members who specialize in one or more subjects; however, some serve as administrators. Others work full time in nonacademic settings and teach part time.

"Only painters and lawyers can change white to black."

John Maine

Nature of the work

The legal system affects nearly every aspect of our society, from buying a home to crossing the street. Lawyers form the backbone of this system, linking it to society in numerous ways. They hold positions of great responsibility and are obligated to adhere to a strict code of ethics.

Lawyers, also called attorneys, act as both advocates and advisors in our society. As advocates, they represent one of the parties in criminal and civil trials by presenting evidence and arguing in court to support their client. As advisors, lawyers counsel their clients about their legal rights and obligations and suggest particular courses of action in business and personal matters. Whether acting as an advocate or an advisor, all attorneys research the intent of laws and judicial decisions and apply the law to the specific circumstances faced by their clients.

Significant Points

About 26 percent of lawyers are self-employed, either as partners in law firms or in solo practices.
Formal requirements to become a lawyer usually include a 4-year college degree, 3 years of law school, and passing a written bar examination; however, some requirements may vary by State.
Competition for admission to most law schools is intense.
Competition for job openings should be keen because of the large number of students graduating from law school each year.

3rd top lawyer firm

Clifford Chance

Clifford Chance LLP is a global law firm headquartered in London, United Kingdom and a member of the 'Magic Circle' of leading UK law firms. It is one of the ten largest law firms in the world measured by both number of lawyers and revenue. In 2009/10 it achieved total revenues of £1.197 billion and profits per equity partner of £933,000. As of April 2009, it employed approximately 3,600 legal advisers and 3,200 business services staff across 29 offices in 20 countries.
David Childs has been Managing Partner since 2006.

Heres a link to their website http://www.cliffordchance.com/home.html

5th top law firm

Baker and Mckenzie

Baker & McKenzie is an international law firm, founded in Chicago in 1949 by Russell Baker and John McKenzie. It is home to more than 3,750 lawyers spread over 69 offices in 41 different countries.

As a transnational operation, no single nationality dominates the firm, and more than 80 percent of its lawyers practice outside the United States. The lawyers come from 60 countries and speak more than 75 languages, with English in common.

The firm saw US$2.104 billion in revenue in fiscal year 2010. As of 2006, Baker & McKenzie was the second largest law firm in the world by number of attorneys, Among U.S. firms, it was ranked the second largest by number of attorneys as of 2008 and, as of 2010, the largest by revenue. As of 2006 it was also the largest international law firm in Asia, with 14 offices, and in Latin America, with 16 offices.

Top 10 Lawyer Films and TV shows

So, yesterday one of my followers suggested I talk about Lawyers on TV shows and films... So I thought why not! Cheers for the suggestion Kicking Rocks!


Right so, I'm going to do a countdown of my favourite films/TV shows each day starting with my 10th favourite right down to my top favourite! 


Enjoy!


Right so at number 10 we have...


'My Cousin Vinny' - Joe Pesci stars as a 'personal injury lawyer' in his hilarious comedy.

What do lawyers do?

Although lawyers affect nearly every aspect of society in a range of positions and industries, their basic duties are the same--to represent the needs of their clients in civil and criminal trials. However, other job duties vary dramatically. Lawyers can specialize in bankruptcy, international, elder, probate, or environmental law. The growing field of intellectual property is also seeing a growing level of attention from lawyers.
Some lawyers spend more time in the courtroom than others, working as trial lawyers. While some lawyers work in private practice, others find employment in government, legal aid societies, or within corporations.

Demand

One lawyer exists for every 300 people in the US. About 25 percent of attorneys are self-employed, the BLS reports. Competition among law schools is fierce, with colleges and universities recieving far more applicants than they have openings. And the employment climate continues to be brutal, with law schools cranking out an average of 40,000 graduates every year, Weedman-Davis says. Many lawyers create their own opportunities by establishing practices in small towns. Other law school graduates have found success in unrelated feilds, such as legendary football coach Vince Lombardi, rock musician Ray Manzarek of the Doors and TV personality Ozzie Nelson.

Next post coming tomorrow! Stay tuned!