In fairness to DLA Piper, the craziness might not be that high on a per capita basis. DLA Piper is one of the largest law firms in the world. In the most recent Global 100 rankings, DLA took second place in both total revenue and attorney headcount.
Many of the DLA Piper stories are on the lighter side. But this latest one — involving serious allegations of overbilling, apparently supported by internal DLA emails saying things like “churn that bill, baby!” — is no laughing matter….
The last time we covered the lavish signing bonuses for Supreme Court clerks who head to law firms after their time at the Court, the bonuses were flirting with $280,000. We say “flirting with” because, at the time, only certain firms were offering $280K. That princely sum was not yet the market rate for talent emerging from One First Street.
A little over a year later, we can report some change on this front. Even though regular associate bonuses and partner profits might be flat this year, the price for Supreme Court clerks is going up, up, up….
Yesterday Elie offered some predictions for 2012. I’ll get even more specific and offer a prediction for January 2012: energy lawyers will be making moves this month.
January is generally a popular time for partner moves, and energy lawyers are popular people. Right now their practice area is as hot as New York City is cold. As you may recall, this time last year a slew of energy attorneys moved from McDermott to Cadwalader.
We’ve recently received word that at least two prominent partners in the energy space are switching firms. Let’s find out who they are and where they are heading….
UPDATE (2:30 PM): After the jump, we’ve added an update with additional context, details, and partner names. A source states that five partners are leaving and that the departures constitute a major move — a much bigger deal than our original report might have suggested.
In our recent post on the top 10 most generous large law firms — based on analysis by ATL’s new director of research, Brian Dalton — the firm of Hogan Lovells placed second. Under the rankings, this meant that Hogan partners are taking the second-biggest hit to their own bottom lines in order to keep their associates happy and well-compensated.
But is this still the case today? Based on what we’re hearing about the most recent Hogan bonuses, announced shortly before Christmas, one wonders whether the Ho-Love partners have turned from Santas into Scrooges….
He was clearly the salesman-in-chief, and he did a darn good job at it. I remember being told that despite the fact that the economy was essentially collapsing around everyone’s heads, 2008 was going to come in well over budget with record revenues and profits.
Say hello to the Global 100 for 2011. This is the American Lawyer’s list of the world’s 100 largest law firms, ranked by total revenue.
There’s a lot of economic anxiety these days, with fears of a double-dip recession running rampant. But looking back — the list is compiled based on 2010 revenue numbers — the legal business seems to be hanging in there. As noted by Am Law, total revenue for the Global 100 increased by 3 percent last year.
Lawyers are a competitive lot. So you’re probably less interested in the overall figures than in how different firms fared in the rankings….
* “Dominique Strauss-Kahn Gets Off, As Did Everyone Else Who Stayed In His Room At The Sofitel.” Or: what you don’t want to know about your high-end hotel room. [Dealbreaker]
* F**k yeah — trademark law! Or: some reflections on the “immoral or scandalous” bar to trademark registration, by fashion lawyer Chuck Colman. [Law of Fashion]
* The New Jersey Supreme Court just issued a major new decision calling for changes in the way that courts handle eyewitness identifications — an issue that will also be going before SCOTUS in the coming Term. [The Innocence Project]
* Congratulations to Professor Neal Katyal, former acting U.S. solicitor general, who’s apparently headed to Hogan Lovells. [Am Law Daily]
Every day that major law firms do not announce spring bonuses makes them look like below-market, “non-peer” institutions. It has become very clear that firms claiming to pay market compensation need to be providing spring bonuses.
The latest firm to yield to market realities is Hogan Lovells. The relatively new Ho-Love, formed by the merger of Hogan & Hartson and Lovells, showed love to its hos on Friday. The firm matched the Cravath scale for spring bonuses.
You can read the full memo below. But you should also listen to how surprised and happy Ho-Love associates are about the bonuses. Hogan associates are like bizzaro Sidley associates….
Last week, Hogan Lovells announced its associate bonuses. It’s the first bonus season for the firm since the merger of Hogan & Hartson and Lovells. Unfortunately for some associates, the transatlantic deal apparently did not pay off for them at bonus time.
The memos are individualized, but the associates who have reached out to Above the Law are not happy. Here’s one tipster’s report:
Most people with whom I’ve spoken received $2500-$5000 less than the Cravath-model for billing around 2150 (our hours requirement is 1950). This is true no matter the class year.
A number of associates left the office as soon as the memos came out because they were so disgusted. I predict a mass exodus of associates leaving HoLove this coming year, because a lot of people have been pissed about the hours anyway and these bonuses are just insulting.
But according to a Hogan Lovells spokesperson, the HoLove bonuses matched the market. So why are associates upset?
(Please note that we’ve added some UPDATES after the jump.)
The prior reports of additional payments to some associates at Hogan Lovells, designed to reward these associates for making their billable-hours targets, were accurate — at least with respect to the New York office. And it turns out that these payments constitute what in ATL-speak we call “true-up payments” — i.e., payments designed to give associates the pay they would have received had a salary freeze never occurred and they had received the customary annual raise for seniority.
This may sound confusing, but it’s really not. Let’s take a look at the memo from Hogan Lovells….
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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