Biglaw litigators are to be feared in general, but certain Biglaw litigation departments strike fear into the hearts of their opponents like no others. BTI Consulting Group recently polled 240 in-house lawyers to determine which Biglaw firms they dread “see[ing] as lead opposing counsel in a litigation case.” Each year, after culling through all of the survey results, BTI names the “Fearsome Foursome” — the most-feared litigation firms in the country.
This year, while two litigation powerhouses remained on the list, two prominent Biglaw firms were edged out by other worthy victors. Another 15 firms were honored as “Awesome Opponents.”
So which Biglaw firms are the most feared when it comes to litigation? Let’s check out the latest rankings….
The annual Am Law midlevel associate survey came out yesterday, and for the first time in years, satisfaction among third-, fourth-, and fifth-year associates seems to be up across the board. According to Am Law, this year’s average score across all firms was the highest it’s been since at least 2004.
But, as with all things in Biglaw, their happiness is relative. After all, these are the people who survived the worst of the layoffs, and the lucky few who managed to get a foot in the door during a time of reduced new associate hiring. Above all, these are the people who must be thanking their lucky stars that they weren’t midlevels at Dewey & LeBoeuf. They may have been working extremely hard on cases that were understaffed, but at least they were working.
Last year, my colleague Elie Mystal noted that the midlevels who were whining about their unhappiness were “missing the big picture” — that they’d be making serious bank for the rest of their lives if they remained in Biglaw. Given the results of this year’s survey, perhaps these midlevels have come to that very realization….
The law firm cafeteria is something of an anachronism. Having a large company mess hall where associates can grab a bite to eat without taking too much time to get lunch isn’t really necessary anymore. Nobody takes a “lunch hour” anymore. Associates can use Seamless and eat at their desks.
And we know partners aren’t eating in the firm cafeteria unless they are 80 years old and too busy to head to Peter Luger’s. No law firm cafeteria is nice enough to bring a client to; that’s why God created expense accounts.
But the cafeteria is still useful for secretaries and paralegals. At my old firm, the cafeteria was a great place to grab breakfast. At Debevoise, the cafeteria enjoys the best views of the block. We used to bring lawyers from Schulte Roth, which is housed on the lower floors at 919 Third Avenue, to show them our view (and to console them while they cried).
The point is, even as the Biglaw cafeteria has diminished relevance given our modern conveniences, you don’t want your firm perk to be disgusting. Last March, we learned that a number of Biglaw firms had received poor grades from the New York City Department of Health about the quality of their in-house cafeterias.
But it appears that Cravath’s food fortunes have significantly improved…
Ed. note: This is the second column by Anonymous Partner based on his interview of a more-senior partner, “Old School Partner” (“OSP”). You can read the first column in the series here.
“It was a nice profession,” Old School Partner told me, especially for a senior partner at a white-shoe firm. Collegiality, interesting work, and a good living were his. Despite occasional internal dust-ups about compensation within the partnership, partners were generally content with what they were making.
But things were about to change, and what had been a guarded and close-knit segment of the legal profession was soon thrust into an unwanted spotlight. It was a “watershed” moment for partners.
The “watershed” that mucked things up? The launch of American Lawyer magazine….
We’re entering on-campus interviewing season. If you’re a law student going through OCI, or if you’re a lawyer involved in your firm’s recruiting process, be sure to check out Above the Law’s new law student career center, a repository job search resources, and our law firm directory, where law firms get letter grades in different categories.
One area that interviewees are always interested in is diversity. Diverse attorneys — okay, that’s a bad way of putting it — minority attorneys want to know where they’ll feel welcome. Even lawyers who aren’t minorities want workplaces that are open and inclusive. And corporate clients are increasingly keen on sending their work to firms that show a commitment to diversity.
So which Biglaw firms are the biggest on diversity? Let’s check out the latest rankings….
The main audience of the U.S. News Best Law Schools rankings is not meant to be law schools or law school deans—and the rankings should not be a management tool that law school administrators use as the basis for proving that their school is improving or declining. The rankings are produced primarily for prospective students as one tool to help them determine the relative merits between schools they are considering.
Today the ABA fined Illinois Law $250,000. The ABA also censured the law school.
The Chicago Tribune reports that this is the first time the ABA has fined a law school for inaccurate consumer information. I guess that’s a step in the right direction. Still, considering the average salary for an Illinois College of Law full professor is $194,624, it’s hard to see the fine meaning very much to the school’s operations…
Last year, all things considered, wasn’t a bad year for Biglaw. The law firms of the Am Law 100, for example, experienced decent growth. In 2011, for the Am Law 100 as a whole, gross revenue grew by 5.3 percent, revenue per lawyer grew by 1.9 percent, and profits per partner grew by 3 percent. It was a perfectly fine year for partners.
How did their counterparts on the corporate side fare? Alas, not as well, according to Corporate Counsel’s latest compensation survey of the nation’s general counsel. Base pay for GCs in the survey declined by 1.8 percent, to an average of $611,411. Bonuses and nonequity incentive pay slid by an even larger number, 7.7 percent, to an average of $1,125,458. Meanwhile, in terms of non-cash compensation, the average stock award fell by 10.8 percent, to $1,426,325, and the average stock option award dropped by a whopping 18.7 percent, to $732,453.
These are just the top-line figures — which, of course, conceal a lot of individual variability. Let’s take a look at some specific names and numbers, as well as the top ten highest-paid general counsel….
Which law firms are the best law firms to work for? The ones that pay salaries (ideally in excess of $10,000 a year). In a still-challengingjob market, law students and young lawyers will generally work for whichever law firm will have them.
But some prospective employees of Biglaw have the luxury of choosing between multiple employers. And for these privileged and talented few, things like quality of life — to the extent that one can have a quality of life, or a life at all, while toiling away at a top firm — do matter.
Last month, our friends at Vault issued their closely watched Vault 100 rankings, ordering the nation’s major law firms by perceived prestige. Now they’ve followed them up with their annual “quality of life” rankings, expressed as a list of the best law firms to work for.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.