Partner Issues

Here at Above the Law, we love ourselves a good departure memo. If a great one makes its way into your inbox, please feel free to send our way.

People write departure memos so they can frame their farewells — explain why they’re leaving, provide their new contact information, and thank the people who need to be thanked. But what about if a partner — a managing partner, no less, and one involved in a summer associate scandal from a few years ago — just quits without explanation?

In that case, the remaining members of management write her departure memo for her. And oh what a departure memo….

double red triangle arrows Continue reading “Managing Partner Quits Suddenly, Firm Sends Out Snarky Email In Her Wake”

* “They aren’t required to hear it, but this is the major social issue of the day.” The Supreme Court will likely hear a gay marriage case soon, and it’ll obviously be a vehement 5-4 opinion. [NBC News]

* But is SCOTUS really so bitterly divided now? Here’s a fun fact: The justices agreed unanimously in 66 percent of this term’s cases, and the last time that happened was in 1940. [New York Times]

* A partner has left the luxuries of earning up to $4.8 million per year at Wachtell Lipton to start his own executive compensation boutique, which we understand is basically like seeing a unicorn. [Am Law Daily]

* The post-merger world at Squire Patton Boggs is similar to the pre-merger world in that partners are still being churned in and out of the firm every other day. Check out the latest ins and outs. [WSJ Law Blog]

* The Fourth of July is coming up, and you know you want to light up some fireworks. Sure, it’s illegal to sell them in your state, but here’s where you can travel to go to buy some to celebrate freedom. [Yahoo!]

‘This one is about being successful and having breasts… at the same time!’ – an anonymous Biglaw chair-elect’s babysitter

You have to have good child care. A good marriage is nice; great child care is indispensable.

Jami Wintz McKeon, the first female chair-elect of Morgan Lewis & Bockius, explaining “how she does it” during a speech at the 8th Annual Women’s Leadership Luncheon. By “it,” McKeon meant being a mother of four and being in charge of a 1,400-lawyer Biglaw firm at the same time.

Most lawyers do not cheat.

But a few do, and they think they’re being clever.

A cheating contract lawyer reads a novel all day, codes a couple hundred documents as “non-responsive” at ten to five, and then heads home.

Cheating junior associates record a few hours that they didn’t actually work. They assuage their guilt: “I’m more efficient than other people are, so I did this more quickly than the average guy. It’s not cheating if I write down how long it should really take to do this job.” And then the cheating associates mysteriously hit their billable-hour targets for the year.

Cheating junior partners are different. Short on work but desperate to bill time, these junior partners hoard work that they should naturally pass down to associates: “I have some free time, and I’m a very talented guy. I’ll write the brief more quickly than an associate would, anyway. I’ll just do it myself, and then I won’t have to worry about being held out of the equity ranks because I haven’t worked hard enough this year.”

But how do senior partners cheat?

double red triangle arrows Continue reading “How Senior Partners Cheat”

When women in law aren’t being told how to dress and act appropriately, they’re busy watching their firms brag about their dedication to advancing women in the profession, while at the same time being constantly passed over for partnership promotions and leadership positions in favor of their male colleagues. That doesn’t seem fair, does it?

We’ve said it once, and we’ll say it again: “Biglaw lives to serve men, and in most cases, they are the ones claiming all of the power, the prestige, and most importantly, the money, while women are left in the dust.” At some large law firms, it’s a different story. Some firms offer women the chance to rise through the ranks to become major power players and to receive startlingly booming compensation — and rank among the most family friendly.

Thanks to the Women in Law Empowerment Forum (WILEF), we have a way to find out exactly which firms are on top when it comes to offering women attorneys the chance to perform on par with their male colleagues in terms of prestige and pay. Let’s check out the list…

double red triangle arrows Continue reading “Which Firms Offer Women The Most Power And Highest Pay? (2014)”

Jonathan Birenbaum

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Jonathan Birenbaum is a Director in our New York office and focuses his practices on lateral partner, group and associate placements and client services in the New York area and Canada. Prior to joining Lateral Link, Jon, was a legal recruiter with a New York City boutique legal recruiting company where he placed associates and partners in a variety of practice areas with AmLaw, regional and boutique law firms in New York, California, New Mexico and in Toronto. Prior to his career in legal recruiting, Jon was a litigator with the City of New York, the New York State Attorney General’s Office and in private practice as a healthcare litigator with two New York City firms. Jon holds a J.D. from St. John’s University School of Law in New York and a B.A. in Political Science from the University of Wisconsin-Madison.

I started out as a legal recruiter in 2007. After success with a series of lateral associate placements, the recession hit and associate hiring slowed significantly. The owner of my recruiting firm encouraged us to start cultivating a partner portfolio to broaden the scope of our work. Since then, I have facilitated numerous lateral partner placements with regional, Am Law 200, and boutique law firms. I have come to understand that the recruiting process can differ greatly with the size of the law firm. Partner candidates and their recruiters must take these differences as well as the candidate’s scheduling and timing needs into account when devising the best search strategy for that individual.

The first partner I recruited was an undercompensated yet well-respected defense litigator. I introduced him to an Am Law 200 firm as well as to a regional firm based in Pennsylvania. My candidate appealed to both firms because of his national reputation, the key client he represented (a major North American transportation client), and his history of strong billables and collections. Both firms immediately expressed an interest in meeting with him….

double red triangle arrows Continue reading “Lateral Partner Recruiting: The Beauty Of Boutiques”

Bruce Stachenfeld

Of all the regrets I have in life, one of my greatest is that I never had the chance to meet Peter Drucker before he died.

Drucker is one of my intellectual heroes. He was able to look at the same world that everyone else was looking at but see things that others couldn’t see. He literally invented a science. And like all science, it is around you from the start but you just can’t see it till someone shows you the way.

The science he invented was the science of “management.” Before Drucker, people just ran things and sometimes good things happened and sometimes bad things — no one really delved too deeply into the “why” of it all. But then along came Drucker, who made order out of chaos and realized that there were principles that, if followed, would increase the likelihood a business would be successful.

All those leadership books you sometimes read, all those “how to” books you sometimes read, all of that thinking evolved from his groundbreaking analysis into the science of “management.” Drucker’s books are utter masterpieces. Indeed, there was an epiphany for me on every single page of his amazing book Management (affiliate link). I think I learned more about how to run my law firm successfully from Drucker than from any other source.

Here are two thoughts from Drucker that hit me like a bolt of lightning when I read them. Honestly, my business — and even my whole life — was never the same again.

double red triangle arrows Continue reading “Reinventing The Law Business: Creating Customers – Peter Drucker”

Minnesota is beautiful this time of year.

Is having your back-office functions handled on-site — i.e., in the same location as the lawyers being serviced — now a luxury? More and more law firms are adopting the model of sending their administrative support functions to lower-cost locations.

Thanks to advances in technology, it’s no longer necessary to have your back office in the same pricey place as your lawyers. And it’s not surprising that firms are going in this direction when you consider the cost savings involved.

Which law firm expects to save millions of dollars a year by sending support staffers to the land o’ lakes?

double red triangle arrows Continue reading “Another Law Firm Jumps On The ‘Administrative Hub’ Bandwagon”

The current discussion regarding the decision by Dentons not to report its average profits per partner (“PPP”) to the American Lawyer is interesting. While I was at Greenberg Traurig, then-CEO Cesar Alvarez used to have a pithy statement on the whole PPP issue, along the lines of: The only thing partners really care about is “profits per me.” There is a lot of wisdom in that statement. In my experience it is true for existing Biglaw partners, potential laterals, and those (fool?) hardy associates aspiring to partnership.

At the same time, the popularity of the American Lawyer’s various charts and rankings can’t be denied. And PPP is one of the catchier columns on those charts. It is used as a proxy for determining everything from firm prestige, to strength of client relationships, to how well a firm is managed.

Savvy associates can and do use it to determine associate quality of life at a particular firm. Your firm has a blazing PPP and no big contingency windfalls feeding the flames? Good chance you are looking at a never-ending flow of “interesting work,” coupled with the partnership prospects of a diminutive drone buzzing around hoping to get noticed by the queen bee. In contrast, you might enjoy a better lifestyle if employed as associate #614 by a Biglaw 2.0 monolith, but you also run the distinct risk of making partner only to realize that the financial gulf between you and the “real” partners is a broad one….

double red triangle arrows Continue reading “Beyond Biglaw: ‘Profits Per Me’”

I was 26 years out of law school before I moved in-house.

In those 26 years, I had never heard of “one-on-ones” (outside of the context of basketball). When I moved to a corporate job, folks were astonished by my ignorance. (A small part of that astonishment had to do with my unfamiliarity with one-on-ones.)

I’ve now been working for four years in what I take to be a typical (indeed, world-class) corporate environment, and I’m ready to declare the truth, thus offending every human resources professional who has ever lived: One-on-ones — individual weekly meetings between managers and each of the people who report to them — are generally unnecessary.

I know, I know: One-on-ones guarantee that the manager knows what’s happening in his or her department. And the meetings let managers give immediate feedback on how members of the team are performing. And there’s nothing like personal conversations to build relationships and esprit de corps.

Humbug!

double red triangle arrows Continue reading “Offending Everyone In HR: One-On-Ones Are Unnecessary!”

Page 4 of 11312345678...113