Tag Archive for: women in law

Anna Salek“Junior level women lawyers sometimes ask me for career advice, and I find the reoccurring theme is that they do not have a good understanding of their professional value,” says Anna Salek. “Very often, women grossly underestimate their value.”

Salek talks about her genuine appreciation for cutting-edge legal work, the growth in a lateral move, the two-way street of value and daring to do what scares you.

The Gratification of Top-Tier Work

“I get immense satisfaction from solving complex problems,” says Salek, who enjoys tackling legal issues that perhaps no other firm has been able to solve sufficiently or that have never before even been considered.

As the private client team leader at Shearman & Sterling with over 20 years of direct experience, Salek works with high-net-worth individuals and families to meet their wide range of legal needs and specializes the areas of trust and estates, tax planning and not-for-profit law.

“I am lucky to work at a top-tier firm like Shearman where the clients are interesting and the legal work is challenging,” she says. “I love the cutting-edge work where often there’s no precedent and the client is relying on my judgment and experience.”

Salek joined Shearman in early 2019 to lead their private client team and was drawn there by the firm’s rich history, impressive client base and dynamic women.

Be Willing to Move To Expand

“I think women, more than men, are more prone to say, ‘they’ve been so good to me here’ and view moving on to another firm as being disloyal or ungrateful. Well, that’s fine that they’ve been good to you – they should be good to you,” says Salek. “But you should also be good to yourself and not be shy about exploring other opportunities.”

While the practice of trusts and estates is generally gender diverse, it is more often men who head up the practice, so replacing C. Jones Perry at Shearman when he retired as team leader was a strong leap ahead for women in leadership in law.

“I was very dedicated and happy at another top-tier-firm where I grew up as a lawyer, and I stayed there for a long time. But moving to another firm made me a better lawyer as it allowed me to grow in different directions than I otherwise would have,” says Salek. “Making a lateral move can help you grow professionally, but equally as important, you are bringing value to your new firm by contributing your own unique skills, experience and perspective.”

“I’m not suggesting women should job hop or even leave their job, but I do think everyone should consider it from time to time – even if only to confirm how good you have it. Men change firms more frequently than women, and it’s not a bad thing. With each move you’re not only likely to increase your compensation, but it’s also a huge personal and professional growth opportunity.”

Know Your Self-Worth

On a similar thread, the guidance that Salek consistently emphasizes to junior level women lawyers is to value themselves as professionals.

“You are valuable to your firm. It’s not just a one-way street. I find that women sometimes almost can’t hear that,” iterates Salek. “They’re reluctant to ask for anything—equity, more compensation. a flexible work schedule, for example – or give themselves credit. Reminding women of their professional contributions to their firm is what I end up doing in almost every single one of those conversations.”

The Relationship Side of Private Client Work

On top of being challenged by the academic intricacies of her practice area, Salek loves the client interaction and deep relationships involved in her area of law. She enjoys working with individuals and families, many of whom have been long-term generational clients of the firm.

“The clients I work with tend to be extremely interesting people,” says Salek, for whom “field trips” to clients’ homes and offices are as much a part of her job as being behind her desk.

“When people invite you into the world of their personal finances, they inevitably invite you into their family and personal lives,” says Salek who feels that women especially thrive in cultivating relationships and trust.

“Not only do you have to be a proficient lawyer, you need to be personable and trustworthy. There’s just an element of being trusted that’s not something you can learn and that quality has helped me a lot, second certainly to really knowing what I’m doing,” she says. “I have clients who are women who have said they picked me because they prefer to work with a woman, and I have had male clients who say the same thing.”

Do What Scares You

“My advice to junior lawyers would be: don’t shy away from things that intimidate you. In fact, seek them out. Do something that scares you every day,” Salek says. “I’m not talking about skydiving. I’m talking about challenging yourself. Don’t like public speaking? Do a webinar, go sit on a panel. Don’t think you know enough about something? Help a client with that particular issue or publish an article about it. Shy? Invite someone you would like to get to know or learn from for lunch or coffee.”

Salek credits her own integration of this advice for having made her into a more confident lawyer today.

”I feel women especially don’t like to be outside of their comfort zone, but that’s the only place where you can grow,” she says. “It’s really important to push your own boundaries.”

Practicing Work-Life Integration

A rewarding aspect of her work has been the pro bono cases where Salek has been able to champion people and organizations in critical financial wins, where she sometimes gets as involved in interpersonal dynamics as with her private clients.

Salek finds that for her, work enters home life and home life enters work, so she embraces the work-life integration approach of keeping both in even keel, rather than “the two-iPhone approach” of work-life balance, which she feels is a false separation of parts of life that live inside of the same universe.

She is married with two teenagers, a daughter of 16 and a son of 14, and notes one silver lining of the pandemic is that people who were technology-resistant have been forced to embrace technology, opening up more remote working possibilities.

Salek is an avid, hands-in-the-dirt gardener. Her favorite season is spring, and she finds that “observing the earth awakening is so good for the soul.”

By Aimee Hansen

Grace J Lee“As I was progressing within the BigLaw structure, the most important thing was not defining my success by the way that some tend to view it,” says Grace Lee. “I resisted my initial tendency to buy into the notion that if I didn’t make partner, that was somehow failure, or spoke to my skillset or my value.”

Lee shares on defining your own success, aligning with your personal priorities, and challenging the stereotypes of who you need to be in the role.

From Literature to Law

Lee contemplated a path in comparative literature, but was hesitant to commit to a life in academia. She also had been considering law school and discovered that law fulfilled her interest in causes for justice and allowed her to apply her literature skillsets.

“As a comparative literature major, I did a lot of exercises in explicating texts—you take a passage from a literary work, consider why the author chose the words they did, and where it fits in the broader context of the work,” says Lee. “In legal work, I was interested in interpreting words—words in statutes and court decisions. And making arguments about how certain language should be interpreted, based on word choices and the context, to support a thesis.”

Now in her 15th year at Shearman & Sterling (S&S) in New York and D.C., she is an industry expert—working with financial institutions and corporations on securities and antitrust litigation, commercial litigation, and regulatory investigations.

Defining Her Own Success

“Don’t buy into how other people define success. If you have a view of where you want to be in five or ten years, stay true to that,” says Lee, “as opposed to feeling like you need to be or do something that might be completely divorced from what makes you professionally and personally satisfied.”

While attaining partnership was a meaningful step in her career, it does not define her success, and she points out that many smart, successful people do not opt into or attain partnership.

“I think success is a very personal thing. For me, being able to have the different spaces of my life come together is success,“ she notes. “I’m able to have a career that I find fulfilling and kids who are fairly well adjusted. My kids see that what I do is not at their expense, and that my professional space means something to me.”

Aligning With Your Personal Priorities

For her personally, becoming a parent changed and clarified her priorities in a way that she never anticipated.

“I had a vision of the type of parent I wanted to be, and the type of lawyer I wanted to be,” says Lee. “I also realized that if I couldn’t be the parent that I wanted to be, then I wasn’t going to be happy even if I succeeded as a lawyer, and that became my guiding principle.”

To make this work, Lee did her best to fulfill her visions of both roles. She prioritized coming home to put her children to bed every night, and then working a second shift, often late into the night. “What that meant was that what could have been a work day that ended at 9 or 10 pm if I worked through the evening in the office became a work day that often ended well past midnight, because I took the time to go home, spend a little time with them, and put them to bed.” But for Lee, the personal sense of having given something the best that she could under the circumstances, was what was the most important.

“In order for me to not be resentful of the fact that I have a demanding job but instead grow in it, I had to make sure that I wouldn’t look back 20 years from then and feel that I had sacrificed my values as a parent to be a lawyer. I gave my best to both roles so that, many years from now, I hopefully wouldn’t feel that I had pursued one at the expense of the other and question those choices.”

Knowing her choice is her own, she emphasizes that your own priority is never wrong, whatever it is—it’s about aligning your life with your self-discerned priority.

“The trouble is when you’re trying to do something that doesn’t align with your values just because you feel like you have to do it,” says Lee. “I think that’s where the discord and the struggles really materialize.”

Lee finds it helpful to introduce the two parts of her life to each other. “After a long week, the physical office building was not the place I would have chosen to go to on a weekend. But it was important for my kids to be able to visualize me at work during the day, where I spend more time than I do with them.” So on some weekends, Lee brought her kids into the office where they would walk through the halls, sit at her desk and pretend that they were working. Lee also naturally incorporates her job as a parent in her conversations at work.

“Some people—especially women at least as I have observed—shy away from talking about their kids at work because they think they will be taken as less committed. I want people to understand that I have another demanding job that I absolutely love. It’s important for me to feel that my work is a safe space where I can talk about my kids, and the challenges and the demands of parenthood instead of pretending that I don’t have those issues.”

That openness has also paved the way for real meaningful discussions with mentors who have helped her navigate the intensity of BigLaw while striking the balance she personally seeks.

“So many great partners who have been mentors and friends over the years really helped me as I was trying to figure out my priorities and my definition of success. They didn’t just tell me what to do to get to the next step in BigLaw. They asked me what I wanted in life and in my career and shared their personal stories. Those discussions could get very granular—like, ‘What are your stressors? Let’s identify what they are, and see if it’s solvable.’” Even when the stressor was outside of Lee’s control, being able to identify it helped more than just feeling stressed.

Her mentors have also often become her sponsors, advocating for her and helping her to advance in the organization and with clients.

Growing Through The Process

“Take on as much as you think you can reasonably handle. And then stretch that a little. See how that works. And if that works, stretch it a little more. Do the very best to not turn down work,” says Lee, who focuses on the notion of building her personal value rather than billing hours.

“My brand and my value come down to my experience. The level of experience and breadth of different types of cases you get because you’re working more and stretching a little is huge. That experience becomes a big part of your value as a lawyer.”

For Lee, it’s not a particular case or moment that has been rewarding for her, but the relationships and overall growth that come with the process of working with her teams and clients to solve issues. “It’s the journey from Point A to Point B, from Point B to Point C, and so on, and then seeing the growth from Point A to Point X. It’s not any single moment, but it’s many blocks of moments of where I was and where I am now.”

Being Yourself, Not an Expectation

Though Lee works with many women, the industry and partnership ring are more male-dominated, so she values that her own trajectory helped to set an important precedent.

“It’s natural to look for someone you can identify with in the role you want to be in. I hope that I might be able to be that person for some.”

Just as Lee rejects the notion of adopting anyone else’s idea of success, she also challenges the notion that you have to be anyone else’s version of a lawyer.

Especially as she became more senior, Lee confronted expectations about how a successful lawyer looks and acts—such as the stereotype of litigators being loud and argumentative—but those expectations didn’t always match the ways that Lee speaks or acts.  Lee believes that you don’t have to fundamentally change who you are, or embody certain mannerisms every day, to be an effective advocate. “Having people from different backgrounds and with different tendencies in the leadership roles helps dismantle that and challenge that notion.”

Playing By Ear

Lee played the violin as a child, and as a parent follows the Suzuki Method with her children, which teaches children to pick up music through exposure and repetition before actually reading music, akin to how they pick up their mother tongue before they learn how to read.

With the method being based upon a parent-teacher-child triangle, Saturdays and even family summer holidays have often been focused around music classes and Suzuki camp. “It’s a refreshing change of pace. In my kids’ violin instructions, we are much less concerned about how quickly they can master something than we are at how perfectly they can learn it. An entire month can be spent dedicated to making sure they can play one musical phrase correctly.” Lee also loves how music brings her family together, including playing violin duets with her children.

Rounding back to literature, Lee is looking forward to reading a book she picked up some months ago at a local bookstore. “It was a ‘blind date’ book where the book is wrapped and you don’t know what it is, but it instead lists other books of similar sentiments. I loved the idea of it and all of the books that were listed on the wrapper, so picked it up with a lot of anticipation.”

By Aimee Hansen

Mary Inman“It shows you how powerful a single voice is in this world,” says Mary Inman, who specializes in representing whistleblowers under the U.S. and Canadian whistleblower reward programs. “I think that’s our love as humans for the David versus Goliath story. We still want David to prevail, or at least be heard.”

With an innate penchant for fairness and justice from childhood, Inman says her family could have predicted she’d become a lawyer.

She entered law with the “amorphous notion” of wanting to do good in the world and affect positive social change. What was not clear, even coming out of law school, was what kind of lawyer she would be.

An Unexpected Expertise

After a couple of years clerking for federal judges in Maine and New Hampshire and one year inside Big Law at a large commercial law firm, a headhunter extended her a novel opportunity—join the new San Francisco office of a boutique firm specializing in representing whistleblowers.

Inman went from a passing familiarity with the subject matter to spending 17 years honing her craft with Phillips & Cohen, before joining Constantine Cannon in 2015, now splitting her time between its San Francisco and London offices.

“At the beginning of my career, there were only a handful of whistleblower reward laws. I’ve been incredibly fortunate to have chosen a field that has grown exponentially. The success of the whistleblower tool in aiding law enforcement efforts has spawned more and more whistleblower reward programs,” revels Inman. “My practice allows me to aid individual whistleblower clients, while at the same time helping them expose industry-wide frauds—so it’s the best of both worlds.”

With 24 years of specialization, Inman is an author, regular speaker and recognized expert in the area of U.S. and international whistleblower reward laws, with their focus on frauds in financial services, healthcare, automotive safety and government procurement as well as tax evasion, bribery of government officials and money laundering.

Encouraging Whistleblowers to Speak Out

Though whistleblowers are often ostracized, Inman asserts they play a critical role in maintaining the healthy ecosystem of an organization.

“Companies have an autoimmune response to whistleblowers, seeking to expel them from their system,” notes Inman. “However, research confirms my anecdotal experience that they’re actually the good bacteria that keeps a company healthy. Because they have the temerity to speak up and alert you to problems before they metastasize into a public relations nightmare, whistleblowers should be viewed by companies for what they really are — forward indicators of risk and an invaluable part of a company’s risk management system.”

She compares it to interpersonal relationships: “Only someone close to you, who really cares about you, will tell you the hard truths.”

Most countries’ laws focus on the employment law aspects of whistleblowing — whistleblower protection from retaliation and reprisal after they have spoken up, allowing whistleblowers to challenge unlawful retaliatory dismissal, demotion or blacklisting.

U.S. and Canadian law differs in that it also connects whistleblowers with the law enforcement and regulatory agencies who can act on their information and redress the harm. Agencies like the Securities and Exchange Commission (SEC), Ontario Securities Commission (OSC), Commodity Futures Trading Commission (CFTC), Internal Revenue Service (IRS), Financial Crimes Enforcement Network (FinCEN) and Department of Transportation (DOT) roll out the welcome mat for whistleblowers. Each agency has a designated Whistleblower Office specially designed to receive and vet whistleblower tips. Credible tips are sent to the agencies’ enforcement attorneys who frequently use the whistleblowers’ information to launch an investigation. If the agency goes on to impose a fine or otherwise sanction the wrongdoer, the whistleblower is entitled to a financial reward in an amount that is a guaranteed percentage of the fine levied or sanction imposed (e.g., the typical award range is 10 to 30 percent).

“What a whistleblower actually wants is someone to do something about the wrongdoing she’s uncovered,” says Inman of her clients. “The North American reward programs ensure that the whistleblower’s concern will be taken seriously and dealt with by the regulatory authority. This active solicitation and empowerment of whistleblowers, using supports like mandatory financial awards and designated whistleblower offices, has put agencies like the SEC on the map with their successful deployment of whistleblower information to impose over $2 billion in fines on companies violating the U.S. securities laws and Foreign Corrupt Practices Act. Other agencies have taken notice and reward programs have been spreading rapidly both within the U.S. and across the globe.”

The Courage of the Individual Voice

Inman notes that our childhood conditioning creates internal conflict—we were all encouraged to speak up when we saw something wrong and yet we were discouraged from “snitching.”

“Everyone has had a whistleblower moment—a time when you spoke a hard truth, then something negative happened to you, so it can be difficult to figure out what to do when you’re in the heat of that moment,” she says. “Whistleblowers are those people who can’t abide by it, and actually turn off the personal warning signals that stop so many of us—such as the practical need to keep our jobs, a refusal to risk what we’ve worked and trained for and not disrupting our family lives.”

By the time her clients come to her—whether for a financial, healthcare or manufacturing fraud, or other corruption—they have usually had their voices silenced. Inman finds it rewarding to welcome those who have been marginalized, to let them know they’re not alone and to validate their reality in a moment when they’ve often been gaslighted and pushed to doubt themselves.

“There’s something really profound about taking someone who’s ‘in extremis’ and hopefully putting them into a place where they feel empowered again,” she says.

Inman sees it as her responsibility to go beyond being a legal advocate and to help her clients step back and consider what is at stake, not only for the individual whistleblower but for their families as well. With that wider consideration, they can undertake their personal risk/reward calculus and figure out what, if any, action is right for them.

“Once you’ve blown the whistle, you can’t unring that bell,” she remarks. “It’s a life-altering event.”

“Very few companies want to hire known whistleblowers,” notes Inman, who has recently campaigned to challenge companies to walk their talk. “If you truly believe in speak up and it’s not just lip service, then hire a former whistleblower. What says more to your employees that you value speak up than that you have purposefully hired someone who did?”

The Power of the Collective Voice

“Even though you’re the lowest in the pecking order, trust your instincts; you’re often in the best position to know that something’s wrong,” she tells fresh-eyed business students when she guest lectures in business ethics classes.

From the recent Ukraine whistleblower on the Trump Administration to the Me Too movement, Inman has characterized this as a time of “unprecedented speak out”—citing research that says people are speaking out in record numbers since the Covid-19 pandemic began.

She thinks that technology has played a role, with the development of anonymous reporting tools and sites such as WikiLeaks and GlobaLeaks fueling a brand of leaktivism that has allowed crowdsourced journalism models like those employed by the International Consortium of Investigative Journalists (ICIJ) to use this data to fuel impactful investigations like the Panama Papers, Luanda Leaks, and FinCEN files, to name a few. She also cites speculation that the rise of the remote workplace leaves workers feeling less connected and for new hires leaves little opportunity for the casual indoctrination about turning a blind eye that can be subtly communicated in the office. She also thinks there’s collective frustration that “the top 1% has become increasingly untouchable.”

“Speaking out is an act of rebellion, of people saying ‘no more’,” says Inman. “It gives me hope and restores my faith that the voices of individual citizen watchdogs can be heard and continue to serve as our first and last line of defense against fraud and corruption.”

Inspiration From Cross-Disciplines

“Don’t just stay in your lane and look at thought leaders in your field,” says Inman. “Adopt a multi-disciplinary approach. Teachings far flung from the legal world have been the most valuable to my career.”

As her husband is a filmmaker, tech and film are two peripheral realms from which Inman derives creative catalysis.

As an example, Inman was inspired by the Callisto app (technology to combat sexual assault)—created after the documentary film “The Hunting Ground,” which focused on the epidemic of campus date rape.

If a student does not want to file a report, the app allows them to confidentially record an assault incident within the Callisto database for possible future reference, in a form of information escrow. But the app also facilitates collective action, allowing the student to be contacted again to reconsider speaking up collectively in the event others subsequently make reports about the same assailant.

Inman was inspired to consider the possibilities of this approach for whistleblowing.

“You’ll take inspiration from the strangest places,” says Inman. “Don’t expect it in your industry. Expect it in the unexpected places.”

Rise to Those Opportunities

“My most defining life lesson is to accept every challenge and say ‘yes’,” says Inman, whose whistleblower practice pushes her out of the risk-aversion common to lawyers. “I’m inspired by my clients. Every day, their moral strength and bravery pushes me to step up my game.”

In the “scrappy creative environment” of the entrepreneurial, contingency-fee plaintiff side of law, Inman has learned to “fake it until you make it.”

“Just take the opportunity and watch yourself rise to the occasion. You’ll surprise yourself,” says Inman. “A lot of people are paralyzed because they’re too worried about making mistakes. Embrace your mistakes. If you’re making mistakes, you’re doing something right, you’re taking risks and trying on something new. That’s where the growth happens.”

One of the risks Inman took was to advocate for taking on a “small case” involving an odious practice in what her instincts told her was a corrupt company. It later turned out to expose an industry-wide fraud and was a very rich lesson in validating her intuition.

“What I learned is that when a place is that corrupt, that’s not the only bad thing that they’re doing. As we investigate, that corruption is going to expand,” says Inman. “I love the psychology of what makes people decide to cross that ethical line.”

Your Voice Matters Because You’re A Woman

Inman accredits her grandmother, a county clerk of court, as her original mentor. She used to take her to court and whisper, ‘We need more women lawyers.’

Reflecting back on University of Pennsylvania Law School, Inman now realizes what a powerful mentor Professor Lani Guinier was for her (now at Harvard Law School)—because she was a passionate woman that deeply inspired Inman to throw herself into her vocation.

“At a formative phase like law school, it’s so fundamental that you have a woman who inspires you,” says Inman. “I don’t think at the time I assigned as much significance to it as I do now.”

Since then, most of Inman’s mentors and champions have been men with daughters. She is passionate about mentoring, including speaking to her sons’ classmates about being a woman in law.

When it comes to empowering her own voice, Inman takes license from the research that public companies with women on their boards are more effective than those who don’t.

“That gave me the empirical data that my voice is valuable precisely because I may have a different perspective. I feel more compelled to speak out because I’m often the only woman in the room and I often offer a very different perspective,” states Inman. “It makes intuitive sense that we’re better when we’re challenged and have different points of view. So being a woman has encouraged me to speak up and share my mind, especially in male-dominated situations.”

Her sons are 19 and 14, and she’s been taking up surfing lately to share time with them. Inman’s other passion is yoga, and the alchemical practice of sitting with discomfort and staying present.

By Aimee Hansen

female lawyers featuredBy Aimee Hansen

Women lawyers are underrepresented in M&A primarily because they are less likely to enter and stay in the field. But some M&A women partner lawyers wonder if young lawyers know what they are missing.

The gender gap in M&A

A study of more than 17,500 lawyers at 25 law firms nationwide found that women held 48 percent of first and second year associate positions (corporate: 43 percent, M&A: 40 percent) but only 18 percent of senior equity partner positions (corporate: 16 percent, M&A: 15 percent).

While a glaring gap in women between the associate level and equity partner level exists across law, the distinguishing M&A gap is at entry level. Female enrollment in M&A courses (37%) was also noticeably below enrollment overall (45%), showing that law students are disinclined to enter, and/or discouraged from entering, the lucrative practice of M&A.

The survey’s authors speculate that perceptions about M&A keep women out, such as being testosterone-fueled, more demanding, and not family-friendly.

Being a woman in M&A

Clare O’Brien, Partner at Shearman & Sterling, entered M&A as a third year associate only because the firm had a mandatory rotation policy back then.

“I actually didn’t really want to go to M&A because it had a reputation of being very ‘male’ …” says O’Brien. “That’s a cautionary tale, in the sense that if I’d had my druthers, I wouldn’t have chosen to rotate to the M&A team, but I was really glad that I did.”

M&A law is skewed male, and investment banks (with which M&A lawyers regularly interact) more so, but O’Brien says being a woman has not impeded her advancement.

“Nobody made me feel less competent or less able than any of my male colleagues. I got opportunities to do the same sort of work, the same level of responsibilities and the same exposure to clients as my male colleagues,” O’Brien shares. “From my point of view, my preconceptions were not, as a general matter, actually born out in practice. Maybe I was lucky to work with the people I did, or maybe the preconceptions are a little bit unfair.”

Here are some of the rewarding aspects of M&A that you may not know about:

Being central to people and process

“I think it’s one of the more interesting practice groups to be in, because in a transactional practice, M&A tends to be the hub, and so people who work on the M&A team are generally responsible for the transaction documents,” says O’Brien, “which means we get to solicit and receive input from other practice groups and then incorporate that input into the transaction documents.”

According to O’Brien, more exposure to the processes of client decision-making and multiple practices positions an M&A lawyer well if she or he decides to transition to an in-house or business position.

“You are more of a generalist than any other practice area,” says O’Brien, ”which, I think, makes you a better lawyer. And you generally have closer contact with the business people than people working in other practice areas.”

Learning on an on-going basis

“We have a very cross-border practice, so, at least in my work, you get confronted with different legal regimes and questions that you don’t know the answer to and have to find out, so you’re constantly learning,” says O’Brien. “That may be true of other practice areas, but my sense is that they are more jurisdiction-based than M&A.”

This growth opportunity includes the latitude to learn about M&A as you enter the field. Among a recent panel of six senior M&A women lawyers at BC Law, few had either interest or experience in finance during underground or law school.

Having satisfying work flow

M&A lawyers report that it’s gratifying to move through the finite deal-making process from beginning to end, and that a transaction-based practice offers a sense of completion.

“The work has a flow to it, which is satisfying in the sense that you get to work on a transaction, you get to understand at least some of what your client does, as well as the business that is the subject of the deal, you get to draft and negotiate the transaction documents, and get to a signing, and then a closing,” says O’Brien. “Each signing and closing represents a milestone, and therefore an accomplishment.”

In the panel, M&A lawyers also expressed that the hands-on immediacy of the work (as opposed to litigation on past damages) and tangibility make it rewarding.

Leveraging strategic and relationship-building skills

While M&A is more associated with masculinity, much of the skills required – collaboration, listening and consensus building – are more “stereotypically” feminine.

“I think you get to be a better listener, and to exercise diplomatic skills…What you’re trying to do is to find solutions instead of erecting roadblocks,” says O’Brien, “so you have to be creative and prepared to think outside of the box. You have to be able to listen to the other side’s concerns, why they don’t want to do what you want them to do, and then, where possible, find a compromise.”

“You can’t just pound the table and say ‘it’s my way or the highway’ because that often won’t work,” says O’Brien, “and your client won’t thank you for it because your client wants to get a deal done and wants somebody who can help it do that, rather than hinder that.”

When it comes to the broader benefit of women in deal-making, a recent study of S&P 1500 companies found that organizations with a higher proportion of women on the board pay less for both acquisitions (15.4 percent less for each female director) and takeovers (7.6 percent less for each female director).

What about the schedule?

Flexibility is increasing in firms and much can be done remotely during the valleys of work, but peaks are both exciting and intense. When signing or closing a deal, being in the same room for extended hours with the client and the other side is often still necessary.

“What can be hard is the unpredictability of your schedule,“ says O’Brien. “If your client wants to do a deal and it happens they want to do it over the weekend, you have to do it over the weekend.”

O’Brien emphasizes the importance of building up a support network you can rely on, and notes that M&A lawyers usually have the means to pay for that support. Also, finding flexibility, one senior M&A lawyer reports arranging her summers off with her kids.

“I think what you have to do is say OK, when I’m ready to have a family, I’m going to have a family,” says O’Brien. “If you’re waiting for the right time, there’s never going to be the right time, so you have to go ahead and do it when it’s right for you.” O’Brien’s own daughters are eleven and seventeen years old.

Is M&A for you?

Like any area of practice, M&A will not be for every women lawyer, but if you can get beyond the dissuading preconceptions, you may find yourself surprised.

“In my view, M&A is one of the most interesting, if not the most interesting practice area in corporate law, and the perceptions that women are less welcome, and are less successful, are overblown.” says Shearman & Sterling’s O’Brien. “If you decide that you want to pursue a corporate practice that is transactional, and if you’re interested in being intellectually challenged and interacting with people on a constant basis, you should seriously consider becoming an M&A lawyer.”

iStock_000007484696XSmall[1]_1.jpgby Liz O’Donnell (Boston)

“One of the things I’m worried about is the impact of the economy on women’s initiatives,” says Carol Frohlinger, Esq. Frohlinger is the cofounder of Negotiating Women Inc. and co-author of “Her Place at the Table: A Woman’s Guide to Negotiating Five Key Challenges to Leadership Success.” Negotiating Women provides negotiation and leadership training for women at every stage of their career.

As budgets are slashed at law firms nationwide, the fate of many employee programs, including women’s resource groups and initiatives, are uncertain. “Law firms, in particular, are fragile,” says Frohlinger. That’s because most women’s initiatives have only recently been started at legal firms. To help firms maintain the momentum of nascent initiatives, Negotiating Women, Inc. is launching the “Just Add Women® Meeting Toolkit Series”. This prepackaged program offers a solution for law firms and affinity groups that are committed to implementing professional development programs for women lawyers but can’t afford the time and money to create their own in this economy.

The Just Add Women® Toolkit comes with ready-made meeting agendas, facilitator’s guides, PowerPoint presentations, meeting checklist s and even sample email invitation describing the sessions. Topics include building a strategic network, positioning yourself for high visibility assignments, building client relationships and getting the resources you need. Negotiating Women, Inc. offers complimentary facilitator training for staff and organization members as part of the Just Add Women® Meeting Toolkit Series too. “I think people need to understand that support for this is critical,” says Frohlinger. “Women are crying out for substantive content.”

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iStock_000004428195XSmall_1_.jpgby Pamela Weinsaft (New York City)

Carol, an employment law attorney, stopped working for about 7 years after her third child was born, instead leading a life filled with childrearing and community involvement. When her youngest child started going to school, Carol decided to explore ways to use her law degree but realized that it might not be that easy to return to the practice of law. “[During my time at home], I really broke from the law…I did not feel like a lawyer.”

Virginia had a similar story. “I had worked at a big Wall Street firm and in-house at a large company. I had my first child and kept working. And then I just couldn’t keep it up anymore. I retired and stayed at home for 14 or 15 years. Then came a time when I felt I should get myself back to doing something. [I] had been great at raising funds for my children’s school [among other things]…but there is a certain confidence that you don’t always have. You may have lost touch with all those professional contacts you had before. I found myself feeling a little isolated and out of touch.”

Jeanette also started with a Wall Street practice but realized that that practice didn’t really “match” with [her] family so she became a stay-at-home mom. “I did always think I’d go back to the law eventually. I did a variety of pro bono matters while raising the kids. I even set up my own small practice doing small commercial matters but I wanted to be back in a more organized office setting.”

Jim had been working in labor relations since the 1970s, when he decided to go to law school. Upon graduation and the passing of the New York Bar, Jim continued to work in labor relations and human resources, using some of the legal skills he acquired in law school but never actually practicing law. When the management team at the company he worked for was changed, he decided to seize the opportunity and become a full-fledged practicing attorney 24 years after earning his law degree.

Carol, Virginia, Jeanette and Jim were among the panelists who spoke at a recent open house for the New Directions program offered by Pace University Law School. The program, on which we’ve reported before, assists admitted attorneys who’ve stepped away from the practice of law to develop the skills and connections they need to return to the profession.

The program begins with a “boot camp” at which the attorney participants learn (or re-learn) the necessary practical skills to enable them to jumpstart their legal careers, including how to navigate the computer based legal programs like Westlaw and Lexis, hone their legal writing skills and effective management their time and stress.

Said Virginia of the process, “One of the very first things we did in boot camp was create our elevator speech. We had to stand up and say ‘I am X and I am an attorney.’ It was very hard for a lot of us because we spent so many years saying, ‘I’m so-and-so’s mom.’”

The week-long “boot camp” is followed by 2 to 3 sessions per week for three months, at which participants are introduced to various practice areas and career paths. Attorneys are also given hands-on assistance with their résumés, cover letters, and interview skills.

Carol said, “It also taught me things that I never really needed to know before, like how to find a mentor, how to take all the things I’d been doing as a stay-at-home mom and figure out what the transferrable skills of those things were (and there were many) and put them on a résumé to make myself marketable. I also learned how to network – something I never had to do before because I went right from law school into a firm. So it taught me all these valuable things.”

Arguably the most valuable component, however, is the externship through which participant attorneys can gain recent work experience in the practice area of his/her choice. Amy Gerwitz, the director of the program, and her team work with each attorney participant to find a suitable externship, whether it is a government, law firm or in-house position the participant attorney desires. “When we first started this,” explained Amy, “we only contemplated one externship per person. As the program went on, however, there have actually been people doing externships concurrently. They’re trying different practice areas; some are doing complementary ones.”

“The externship is valuable for several reasons,” said Carol, “It is for an extended period of time (i.e., 10 weeks) during which you are developing knowledge, gaining a mentor perhaps and then you have current work experience and recent referrals. Without that externship piece, it is hard to move on.”

And while Amy and her team make no guarantees of employment upon the completion of the program, they will do what they can to help the participants get back to work in the legal world. “We view our mission as preparing [returning attorneys] to have the skills to get back into the legal workforce. Given uncertain economic times and the resultant effect on the legal profession, there is an understandable concern [about the lack of opportunities]. But while it is not our ‘mission’, we are happy that over half of the former participants in the New Directions program are now in permanent paid fulltime positions and many others are staying with their externships while they are looking for permanent positions.”

Virginia added, “Nobody gets to where they are on a straight shot. Maybe we’ve all taken a detour but there is a way to get back into the workplace and [Amy and the team at Pace] are there to help.”

Pace Law School will be offering its New Directions program in NYC this summer. Applications are being accepted on a rolling basis through June 15, 2009. Please visit the New Directions website for more details.