Biglaw, Boutique Law Firms, Insurance, Job Searches, Money

Where Do Non-Top-Tier Grads Go? Hello, Insurance Law!

Double Indemnity Insurance Law Defense Coverage Litigation.jpgAs we previously mentioned, this week is Non-Top-Tier Law School Week at ATL. Even our open threads on job hunting will reflect this theme.
One graduate of a non-elite law school sent us this suggested topic:

Lots of non-top tier law students end up working for insurance companies.

The dumb ones end up doing insurance defense (hired by insurance company to defend slip and fall, med mal, etc). The smart ones do insurance coverage (represent the insurance company which denied coverage).

How about postings where we can compare salary info? Salary info at these firms is much more guarded. I have no idea what anyone else makes.

So, what ARE salaries like in this area? From our tipster:

I’ll get the ball rolling from the insurance coverage perspective. When I started as a first year at one NYC insurance coverage firm, I was making $75,000 with no bonus (and a billable hours minimum of 1900).

Now, I am a fifth year doing insurance coverage at a different firm in NYC, my salary is $128,000, and our firm offers a $7,500 bonus to associates deemed the cream of the crop at year end. Name partners are rumored to make a boat load of cash, but other partners are rumored to be nothing more than senior associates. Our minimum billables are 2100.

More discussion, after the jump.

Our tipster tosses out a few names:

Some big insurance coverage shops:

Boundas Skarzynski
D’Amato Lynch
Mendes Mount
Kaufman Borgeest Ryan
Bailey Cavalieri

Most would say that the plus side is steady business, extremely high job security, reasonable hours (I can usually bill 10 hours for 11 spent in the office) – rarely work weekends, and (believe it or not) interesting work. Oh, and if you stick around long enough, partnership is yours to lose.

So, whaddya think? If you work in this field, are you happy with your pay and your work? Is insurance coverage law an appealing alternative to Am Law 100 or Vault 100 law firms?

(hidden for your protection)

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