Funemployment

If you haven't heard yet, I got fired! But it's fine. My old firm is generously allowing me to stay on the books for four more months. During this time, my only responsibility is for me to get a new job. I do still plan on being a lawyer of some kind. It's just too much fun.

Pictured: What I was told in so many words.

As to the "why"? There are three main reasons.

1: Senioritus

About a year into my current position, I had a realization that I would never be able to be a partner at the firm I was at. I simply was not willing to give up that much of my life that being a partner necessitated. As soon as I had this realization, my days were numbered.

I got complacent. It's hard to care about something you know you aren't going to do long term.

In short, the decision was not necessarily undeserved.

2: Lack of Experience

Law firms operate on a lockstep model. In short, your seniority is tied to the year you graduated law school. I came in as a third year associate and I am currently a fifth year. However, I do not have the experience of a fifth year.

When I started, I was retooling from a related, but different practice area. I was basically starting fresh, but expected to operate at the level of a third year. Combine that with my trips to the psych ward, and I basically only had a year of experience while I was expected to operate at a level far more advanced than that.

If I stay at a law firm that organizes associate hierarchy this way, I will ask to take a hit to my class year. It's a method of making sure that expectations line up with what I can actually do.

3: Interest Rates

Finally, it wouldn't be a layoff if the economy didn't have something to do with it. I worked in finance, which is a fancy way of saying "debt." If company A wanted to borrow money from company B, someone has to write the credit agreement. And that's where I came in.

Interest rates are the price of loans. When I started at my current position in September 2021, the federal funds rate was near zero (0.08%). Now? It's at 5.33%, which is an increase of 6562.5%.

Pictured: Line go up.

When interest rates are near zero, people love to take out loans. They are basically free money. So if you have an opportunity that offers a meager 2% rate of return, it makes sense to take out loans at a near zero interest rates. But if interest rates are more than that? Suddenly, there are far fewer opportunities.

Something I said quite often during my tenure (and which remains true through today): I never expected the federal funds rate to affect my daily life as much as it has.

***

So, I have four months of being paid like I'm working while not being beholden to anyone. Cue the adventures. It's going to be interesting.

But, basically, I'm going to be doing the blog posts more sporadically than normal since the days have started blurring together and I don't know what day it is anymore. Still going to do one a week.

During this time (aside from looking for a new gig), I'm going to be working on a few more projects that you will be seeing. From new art and poetry to a new book, it's going to be a very productive time. Remember, getting rejected can often be the best thing.

I truly do think this is for the best. Again, I knew I didn't want to be there long term. I'm just there a little shorter than anticipated (I was planning on leaving within a year anyway).