Billable Hours

We’re in the middle of what we previously referred to as the second wave of law firm bonus announcements. Later today, for example, we’ll write about the Latham & Watkins announcement from yesterday. (So far we’re hearing mixed things; if you’re at Latham and would like to opine on the bonuses, feel free to email us or text us (646-820-8477).)

Right now we’re going to discuss the bonuses announced at Goodwin Procter (which actually just hired a partner, Brynn Peltz, away from Latham). The Goodwin bonus announcement came out on Tuesday of this week.

So what do 2012 bonuses at Goodwin Procter look like?

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Tom Wallerstein

“I am having a root canal this morning, so I’ll be working from home.”

Some attorneys use the expression “working from home” to mean that they are mostly taking the day off for one reason or another. In other words, they really mean that they are “not working.”

Other times, “working from home” really means “I’m still working, just not in the office.” I might do this, for example, to avoid a long commute or because I can better tackle my project at home, perhaps because my home will offer fewer distractions.

Assuming that “working from home” means that you still are working, albeit in a different physical location, should a firm care when or whether an attorney comes into the office, provided nothing time-sensitive needs to be accomplished that day?

double red triangle arrows Continue reading “From Biglaw to Boutique: Working from Home”

Over the last two weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, and below. As with the two prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues.

AP: How firms are viewed from a value perspective is often very difficult to gauge from the outside. What criteria do you use to determine if a firm is delivering services to your company appropriately from a billing perspective?

double red triangle arrows Continue reading “Buying In: An Interview with an In-House Insider (Part 3)”

We’ve all been there. It’s Friday. It’s 5:30 p.m. The rest of the working world is already well into their weekend, their three-day weekend.

But you’re not sure if you can leave. You work in Biglaw, and you don’t know if it’s okay to simply get up from your desk and rejoin the rest of free humanity.

Well, here’s something that can help you. A former Biglaw associate made a handy chart to let you know when it’s okay to leave….

double red triangle arrows Continue reading “The Biglaw Flowchart That Tells You When You Can Leave The Office”

Law firm bonus announcements come in two waves. In November and December, the New York-centric firms announce their bonuses (after taking their cue from Cravath). In January and February, the West Coast and also nationally oriented firms announce their bonuses for the prior year.

So the 2012 bonus season isn’t over, even though we’re now two weeks into 2013. Yesterday, for example, brought bonus news from Orrick, Herrington & Sutcliffe.

Orrick is a leader is the brave new world of “merit-based compensation.” What are they up to now?

double red triangle arrows Continue reading “Associate Bonus Watch: Orrick Charts A Steady Course”

Last week I spoke with an In-House Insider, a Biglaw refugee turned in-house counsel. You can see what our Insider has to say about the state of Biglaw and client relations here and below.

As with the initial installment, the only changes I made to the Insider’s words were those done to protect their identity, and the Insider was given the opportunity to revise their points once I added the questions and commentary.

Again, I thank the Insider for the candid observations and thoughtful opinions on these core issues. Now, on to the discussion….

double red triangle arrows Continue reading “Buying In: An Interview with an In-House Insider (Part 2)”

The grass isn’t quite this green in the ‘new normal.’

In a piece from last month, New York Times columnist Paul Krugman wondered: Is Growth Over? One could very easily take this question, posed with respect to the broader economy, and apply it to the world of large law firms.

And what would the answer be? According to a client advisory just issued by Citi Private Bank and Hildebrandt Consulting, “Probably.”

Their analysis is gloomy, although guardedly so; we’re not talking about “the sky is falling” pronouncements. Let’s take a look at the specifics….

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What does 2013 hold for the world of large law firms? Let’s look into our crystal ball.

Actually, scratch that. Making predictions is a tricky business. Sometimes we’re right — like when we predicted robust bonuses out of Cravath, based on their large partner class — but sometimes we’re wrong.

For now, let’s keep our powder dry, and instead check out historical data about hours, billing rates, and corporate legal spending. Can we gain any insight into the future by looking back over the past?

double red triangle arrows Continue reading “New Data on Hours, Billing Rates, and Corporate Legal Spending”

* Everybody is entitled to a competent defense. It’ll make justice possible. I’m just so thankful I don’t have to defend people like this. [CNN International]

* In other terrible rape news, make no mistake, we need more people prosecuting rapists than we need defending the few falsely accused. [Slate]

* More news that fewer people are taking the LSAT. Somebody better tell Dean Lawrence Mitchell that it’s time to fire off another op-ed. Maybe he can tell people that getting a Case Western J.D. comes with a chance to enter a drawing to attempt a half-court shot for a million bucks. [Faculty Lounge]

* If you want to put a billable hours requirement on your bonuses, things like this are bound to happen. [The Volokh Conspiracy]

* Law graduate makes fun of “sloppy” recruiters. I hope his loan officer doesn’t end up making fun of a sloppy payment schedule. [Legal Cheek]

* Here’s a real fishy case. [Winston-Salem Journal]

* Wait, so if you try to pull off Denzel Washington stuff in a real cockpit it doesn’t turn out so good? [Legal Blog Watch]

* We got this spam today too. And yes, it was annoying. [Associate's Mind]

Now that bonuses, year-end collections, and holiday parties are behind us, it is helpful to remind ourselves (early on in the new year) that it is (paying) clients that make everything possible for Biglaw firms. A few months ago, I was the fortunate recipient of some illuminating correspondence from a Biglaw refugee turned in-house counsel, offering a “customer’s” take on what is both right and wrong with the “current law firm service delivery model.” Because I truly believe in the importance of this column offering an anonymous outlet for informed discussion of Biglaw-related topics (see my posts detailing my conversations with Old School Partner and Jeffrey Lowe), I offered to make my correspondent the resident In-House Insider.

Agreement was not long in coming, together with yet more astute observations about Biglaw. For our initial “discussion,” I have (similarly to how I handled the Lowe interview) added questions and some brief commentary to our Insider’s points, and share this written interview with you. The only changes I made to the Insider’s words were related to their identity, and the Insider was given the opportunity to revise their responses once I added the questions and commentary. I hope we can continue to benefit from this In-House Insider’s perspective in the future. For now, I definitely appreciate when I get contacted by Biglaw-related personalities looking to discuss the issues raised in my column, and share their thoughts with this audience. Without further ado….

double red triangle arrows Continue reading “Buying In: An Interview with an In-House Insider (Part 1)”

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