from Brian Dalton, Breaking Media Director of Research
The ATL School and Firm Insiders Survey asks self-identified current students, alumni, and practicing lawyers to rate major aspects of life at their law school (academics, social life, clinical training, career services, financial aid advising) and/or law firm (compensation, hours, morale, culture, training). We then translate these ratings into letter grades, where the mean score for each particular ratings category is the equivalent of a “B.”
We require a minimum threshold of responses for each institution before we publish any survey-based ratings content. Using a standard formula for statistical validity, we adhere to a threshold that gives us an 85% confidence level and a 10% margin of error. The precise threshold number will of course vary depending on the size of the individual institution. For example, for a law firm of 1,000 attorneys, we would require 50 responses in order to publish ratings for the firm.
Top Practice by Headcount and Top Schools data is provided by Leopard Solutions. Leopard Solutions is a leading provider of attorney data to legal recruiters, law firms and law schools. We track attorneys in over 1500 law firms around the country and document their practice area, specialties, honors, languages advanced degrees and more. We provide an overview of each law firm as well as detailed information on individual attorneys. The data can be used to track trends, movements, growth and more.
Leverage is the number of attorneys minus equity partners, divided by equity partners.
Salaries & Compensation
Advances, Bonuses, Benefits & Stipends for First-Years
While base pay is set at NY market ($160k), compensation is terrible in view hours billed. Our IP litigation group is under staffed and under payed. $160 at 2000-2200 is reasonable — $160 at 2600 to 2800 hours (wo/ spring bonus) is borderline insane. The only thing holding this place together is a strong group culture, and great group of colleagues.
The firm is undergoing a renewed growth period and is incredibly well managed. There is room for improvement, such as expanding their market presence in California (where they currently own have a Los Angeles office) and further developing the corporate and IP groups, but it’s a generally nice place to work as far as law firms go. Most of the associates and partners in California generally enjoy their work and come to work happy and approachable. The employment and labor group is top-notch.
Associates are leaving our IP group (litigation/prosecution) at a rate of at least one a month. Senior associates are leaving because firm management refuses to promote; mid-level associates are leaving for more lucrative positions (less hours – same pay); and junior associates are leaving for firms who have senior associates to train them. The strong group culture is slowly disappearing – if only IP partners would stand up for their associates.
Represents all four major sports leagues.
Commissioner of the NBA and NHL are alumni of the firm.
Derek Jeter is retiring. If you follow sports, you know that one of the most overrated players in history is calling it quits. If you don’t follow sports, you probably also know this.
A few days ago, Jeter hit a foul ball (he has problems hitting balls in play at this point). Blue Jays third baseman Danny Valencia threw the ball to a dad, who gave it to his daughter, who promptly threw the ball back because little kids like to throw things.
UPDATE (9/25/2014, 4:56 p.m.): The embed appears to be broken. We will continue to try and fix it. In the meantime, the video is available here:
* Sweet billable hours: Congrats to Proskauer Rose on its efforts to keep the Buffalo Bills in Buffalo, New York. It’s the largest deal for the sale of an NFL team in history. [Am Law Daily]
* Your firm brings in billions in verdicts, but that’s not prestigious enough. It needs to be on the inaugural list of America’s Elite Trial Lawyers. See if yours made the cut. [National Law Journal]
* The best way to dodge traps in the LSAT analytical reasoning section is to display your analytical reasoning capabilities by not taking the LSAT in the first place during a time when law schools are in turmoil. [Law Admissions Lowdown / U.S. News]
* Law professors Zephyr Teachout (Fordham) and Tim Wu (Columbia) were defeated in the Democratic primary election for New York governor and lieutenant governor, but they lost well. [New York Daily News]
* The world wants to know if Ray Rice can be prosecuted for domestic violence, even though he’s enrolled in a pre-trial intervention program. Like the answer to all legal questions, it depends. [WSJ Law Blog]
* The scion of a Biglaw bigwig (go ahead and guess which firm…) arrested for filming and distributing video of his sexual escapades with his girlfriend without her permission. It’s like revenge porn without the revenge element. [Law and More]
* Lawyers from top New York City firms like Skadden, Proskauer, Stikeman, Weil Gotshal, Kaye Scholer, and Bailey Duquette took to the ice to compete for the Lawyers’ Cup. The team with Canadian imports won, obviously. [Forbes]
* Andre Bouchard was nominated to replace Judge Leo Strine as Chancellor of the Delaware Court of Chancery. We can only hope he’ll be as outspoken as his predecessor. [WSJ Law Blog (sub. req.)]
* UNC Law has been receiving fewer applications, and perhaps that’s the reason why its acceptance rates have gone up, up, up — from 36 percent to 45 percent — in the last year alone. Yikes. [Daily Tar Heel]
* A woman alleges her Uber driver “fondled [her] legs, groin area and breasts” as she tried to give him directions. That extra customer service is what makes it cost more during peak times. [Chicago Tribune]
* A watch repairman was so pissed about this Yelp review he sicced his lawyer on the man who handed out the two-star report. Of course his lawyer’s one-paragraph demand letter barely makes sense. [Gawker]
On Friday, we asked readers to submit fun hashtags for the ABA’s commitment to provide its members with cheap wine. Or at least with cheap, personally branded wine to give clients eager to drink cut rate wine with the label of a cut rate law firm.
So some of you took to the Hashtag War format we modeled on @Midnight. Check out the finalists for this Hashtag War and see if you agree….
Bradley Cooper: a very handsome man, but sadly not a lawyer.
Seemingly random small-firm lawyers from Alabama weren’t the only legal types in attendance at the White House State Dinner on Tuesday evening. Indeed, as we’ve previously noted, numerous legal celebrities attended the festivities as well.
Sure, there were some “celebrity celebrities” at 1600 Pennsylvania Avenue that night. The guest list included such boldface names as J.J. Abrams, Stephen Colbert, Bradley Cooper, Mindy Kaling, and Julia Louis-Dreyfus.
But who cares about Hollywood? Above the Law readers are more interested in the government lawyers, federal judges, Biglaw partners and law professors who attended this major social event….
This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.
For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.
The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.
Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….
Happy Monday, everyone! What better way to start a new week than to bring you more bonus news?
As it turns out, Willkie Farr and Shearman & Sterling weren’t the only firms to participate in the Friday afternoon bonus dump. Two more firms broke word of their bonus intentions before the weekend, and now the question on everyone’s minds is whether they bucked the system and beat Cravath.
We’ve got the announcements from Cadwalader and Proskauer Rose for your viewing pleasure. Did either firm have the guts to top Cravath’s market rate?
In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.
Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.
Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.
We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?
As we get closer and closer to the Thanksgiving holiday, staff members and now attorneys — thanks, Patton Boggs — grow more and more worried about the possibility of their own impending doom. This week alone, we’ve seen one firm offer buyouts to employees and another firm hand out pink slips like candy.
And now, with just two weeks until Black Friday, we’ve got some news that’s sure to make employees’ lives at one firm just a little more dim.
Which Biglaw firm is offering voluntary buyouts to a significant chunk of its employees (rumored to be in the triple digits) this time around?