http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/ Above the Law: A Legal Web Site – News, Commentary, and Opinions on Law Firms, Lawyers, Law School, Law Suits, Judges and Courts Wed, 15 Feb 2012 01:42:50 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153520 guest Wed, 09 Dec 2009 15:08:26 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153520 @ 141 - I stopped listening, what were you saying? @ 141 – I stopped listening, what were you saying?

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153519 guest Wed, 09 Dec 2009 15:07:38 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153519 Commetns 164 and 168 say it best -- I think they explain very well why this was a horrible decision, and how DLA has fuc$ked over its associates in real $$$. Nevertheless, it was still done. Shows a lot about DLA's crap management (and how hard up they are to save $$$ at any cost). Bye bye DLA. Commetns 164 and 168 say it best — I think they explain very well why this was a horrible decision, and how DLA has fuc$ked over its associates in real $$$. Nevertheless, it was still done. Shows a lot about DLA’s crap management (and how hard up they are to save $$$ at any cost). Bye bye DLA.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153518 guest Wed, 09 Dec 2009 14:18:44 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153518 It takes a long time to sink a ship like DLA. I wonder if 2010 will result in major changes for it. Things are quite busy at a lot of shops. Mine picked up some lateral partners with big books because we were able to: (a) offer them a nice bump on what they are getting paid right now; and (b) show them that they will have competent associates to do the work that their clients generate, which is something that they were sorely missing at their old firms. Seems like DLA partners with big books are ripe for poaching. It takes a long time to sink a ship like DLA. I wonder if 2010 will result in major changes for it. Things are quite busy at a lot of shops. Mine picked up some lateral partners with big books because we were able to: (a) offer them a nice bump on what they are getting paid right now; and (b) show them that they will have competent associates to do the work that their clients generate, which is something that they were sorely missing at their old firms. Seems like DLA partners with big books are ripe for poaching.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153517 guest Wed, 09 Dec 2009 12:29:43 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153517 Ahh, Chapter 15, in which our protagonist DLA concedes that Jones Day really is five steps ahead of it on absolutely everything. Ahh, Chapter 15, in which our protagonist DLA concedes that Jones Day really is five steps ahead of it on absolutely everything.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153516 guest Wed, 09 Dec 2009 12:28:42 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153516 171 Do not believe all they are telling you about the soundness of the firm. All indications are that DLA Piper is behind budget in terms of hours, fees received and realization rate. They are actually laying the groundwork to increase rates another 4.7% next year, but the pushback is tremendous. The largest client already receives such a large diiscount that leadership questions if it is worth having as a client. The firm promoted non caps to "equity" level at the start of this year just to create a capital influx and to reduce the comp payout during the course of the year. These new "equity" partners still have greater than 50% of their comp as salary so that they do not count as equity partners for AM Law purpuses. By making the non-caps capital partners they have deffered 49% of the non-caps salary until 2010 to keep the numbers higher. That way they can try to keep the PPP up to continue to recruit lateral partners who do not see past the intial numbers. Now they are going to defer a percentage of the associates salary until 2011, again to keep the 2010 PPP high enough to attract laterals. Used to be a great place to work. It is ashame what they did to this firm. 171 Do not believe all they are telling you about the soundness of the firm. All indications are that DLA Piper is behind budget in terms of hours, fees received and realization rate. They are actually laying the groundwork to increase rates another 4.7% next year, but the pushback is tremendous.
The largest client already receives such a large diiscount that leadership questions if it is worth having as a client.
The firm promoted non caps to “equity” level at the start of this year just to create a capital influx and to reduce the comp payout during the course of the year. These new “equity” partners still have greater than 50% of their comp as salary so that they do not count as equity partners for AM Law purpuses. By making the non-caps capital partners they have deffered 49% of the non-caps salary until 2010 to keep the numbers higher. That way they can try to keep the PPP up to continue to recruit lateral partners who do not see past the intial numbers. Now they are going to defer a percentage of the associates salary until 2011, again to keep the 2010 PPP high enough to attract laterals.
Used to be a great place to work. It is ashame what they did to this firm.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153515 guest Wed, 09 Dec 2009 11:40:21 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153515 178 - do clients of lkockstep firm who were served by the bottom 30% get a refund on their fees? Of course not. some client - even at Weil, Wachtel, Cravath, DPW, or any other T10 firm - is always being 'served' by the lowest quartile, whther or not the associates know they have been ranked as such. clients ar also being 'served' by associates who are running out their notice period or who have been told to consider other alternatives without having been guven a date certain to leave. 178 – do clients of lkockstep firm who were served by the bottom 30% get a refund on their fees? Of course not.
some client – even at Weil, Wachtel, Cravath, DPW, or any other T10 firm – is always being ‘served’ by the lowest quartile, whther or not the associates know they have been ranked as such. clients ar also being ‘served’ by associates who are running out their notice period or who have been told to consider other alternatives without having been guven a date certain to leave.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153514 guest Wed, 09 Dec 2009 11:38:08 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153514 You highly paid associates need a reality check. Quit whining. You highly paid associates need a reality check. Quit whining.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153513 guest Wed, 09 Dec 2009 11:20:41 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153513 do clients who were served by the bottom 30% get a refund on their fees? Of course not. do clients who were served by the bottom 30% get a refund on their fees? Of course not.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153512 guest Wed, 09 Dec 2009 11:20:14 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153512 do clients who were served by the bottom 30% get a refund on their fees? Of course not. do clients who were served by the bottom 30% get a refund on their fees? Of course not.

]]> http://abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/comment-page-5/#comment-153511 guest Wed, 09 Dec 2009 10:40:19 +0000 http://wp.abovethelaw.com/2009/12/dla-piper-bringing-the-curve-to-biglaw/#comment-153511 Screw this. I am going to look for a way out too. Why make mid-tier firm salary when you are a top-tier firm attorney? Screw this. I am going to look for a way out too. Why make mid-tier firm salary when you are a top-tier firm attorney?

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