From Ike to Merrill and so on; Career Retooling

Whether it’s the physical destruction of Hurricane Ike, or the financial trauma of Merrill, Lehman, AIG and other business giants, crisis is in the air.

Today’s WSJ Law Blog asks where the legal work–and legal jobs–will go in the wake of all this Wall Street trauma. Bankruptcy lawyers are bound to enjoy full employment.¬† But international lawyers?

Lawyers who are employed–directly or indirectly–by some of these Wall Street giants will need to reassess, and perhaps retool and redeploy internally¬† Some Wall Street employers will keep most of their attorneys–even those that primarily handled international transactions–during the lengthy restructuring/bankruptcy process. For example, most of Enron’s international business lawyers kept their jobs after the company’s bankruptcy; some helped to sell the company’s international assets, and others were redeployed within the company to handle domestic tasks. Because bankruptcy is really a lawyers’ game, many Wall Street lawyers should also fare well.

International lawyers who find themselves unemployed should seize the opportunity to reassess their career goals–and perhaps redirect their career path. Doing so may require a quick fix, like temporarily taking an unsatisfactory job in order to get income.¬† Or, as mentioned in Zigzag to Get Your International Dream Job, Even if it Means Grueling Work, sometimes a variety of jobs is called for.

Crisis is in the air. Are you willing to reassess, retrain and redeploy as needed?

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