Today we have some news to share about WGM — information gleaned from partner departure memos out of Dallas, the site of the biggest defections, and a real estate report from New York, the King’s Landing of Weil Gotshal….
Biglaw branding sounds painful, but thankfully, associates at the highest and mightiest of firms don’t have to sear their flesh with their firms’ logos. Biglaw branding is more about the image firms want clients to see when making hiring decisions, and partners are likely equally as worried about their reputations in the marketplace as their year-end profits.
The last time we spoke about law firm branding, we found out that Skadden had the most recognizable brand in the country. But we, loving rankings as we do, wondered which law firm had the best brand in the world. Luckily for us, hot on the heels of the release of the Am Law Global 100, Acritas published its 2013 Sharplegal Global Elite Brand Index.
Who’s got the best Biglaw brand on the planet? Let’s find out…
For all the talk of layoffs and worries over an unstable legal economy, Biglaw just keeps getting bigger. Today, the American Lawyer magazine announced its Global 100, a ranking of the world’s 100 largest law firms in terms of total revenue. The view from the top is simple: as we learned from the 2013 Am Law 100, slow and steady does win the race, because Biglaw is at the biggest it’s been in years, and partners’ profits are headed up, up, up.
Now that we’re on the long road to recovery following the recession and collapse of the U.S. financial markets, there are some lessons to be learned from the past five years. Some firms were able to cash in modestly on their success, while other firms buckled under the pressure and were forced to close their doors for good. The game of musical chairs in the top 10 of the Global 100 reflects this economic uncertainty.
DLA Piper is the new top dog in terms of total revenue. Which firms are the leaders of the pack in other metrics, such as profits per partner and attorney headcount?
- Biglaw, Crime, David Boies, Federal Government, Gay Marriage, Health Care / Medicine, Law Firm Mergers, Law School Deans, Law Schools, Morning Docket, Murder, Ted Olson
* “The multimillion dollar question is: Is it going to happen and for how long?” Surprisingly, health care attorneys from large firms are being quite blasé about the Congressional battle over Obamacare. [Blog of Legal Times]
* The 2013 Global 100 is out, and with an 8.6 percent growth in revenue, DLA Piper was able to really show the world the benefits of churning that bill, baby! We’ll have more on this news later today. [American Lawyer]
* This is getting exhausting: Dentons, the three-way merger product of SNR Denton (a merger product itself), Salans, and Fraser Milner Casgrain, is in talks with McKenna Long & Aldridge for yet another merger. [Am Law Daily]
* The director of the Commodity Futures Trading Commission’s enforcement unit will be stepping down to spend time more with family. The countdown until he returns to Skadden Arps starts now. [DealBook / New York Times]
* Ted Olson and David Boies, perhaps more commonly known these days as the gay marriage dream team, will be working together to challenge Virginia’s ban on marriage equality. [National Law Journal]
* Should law school be two years long? Kyle McEntee of Law School Transparency (3 points) is beating the pants off Northwestern’s dean (-4 points) in this debate. [Debate Club / U.S. News & World Report]
* If you’re still considering applying for law school despite all of the warnings seen here and elsewhere, then you’ll probably want to follow this advice. [Law Admissions Lowdown / U.S. News & World Report]
* The Italian Court of Appeal is retrying Amanda Knox of a crime she’s already been convicted and acquitted of, and the chances she’ll be extradited if convicted again are slim to none. Buon lavoro. [CNN]
- Biglaw, Books, Constitutional Law, Health Care / Medicine, Maureen Mahoney, Partner Issues, Paul Clement, SCOTUS, Supreme Court, Ted Olson
Over the last two decades, a dedicated Supreme Court bar has gained prominence, focusing on arguing the increasingly few cases before the justices each term. These lawyers face fierce competition in persuading clients to hire them, participating in a not-so-glamorous competition known in the industry as a “beauty contest.” At these lawyerly pageants, attorneys competing to take the case make their pitch and try to persuade the client that their firm is the best suitor.
In my new book, Unprecedented: The Constitutional Challenge to Obamacare (affiliate link), I go backstage and look at two of the most high-profile beauty contests in Supreme Court history: who would represent (1) the National Federation of Independent Business (NFIB) and (2) twenty-six states in their respective challenges to the constitutionality of Obamacare.
How did these litigants go about choosing their counsel? Which lawyers and law firms got passed over?
- Antonin Scalia, Biglaw, Celebrities, Constitutional Law, Eugene Scalia, Federal Judges, Gay Marriage, Law Schools, LSAT, Military / Military Law, Morning Docket, Phil Alito, Police, Samuel Alito, SCOTUS, Sentencing Law, Shira Scheindlin, Supreme Court
* The NSA has violated the Constitution for years, you say? And it’s been misleading the FISA court about all of its domestic spying activities? As of this moment, the NSA is on double secret probation! [New York Times]
* Imagine how the New York stop-and-frisk case would have turned out if it had been before SCOTUS. The “human toll of unconstitutional stops” may not have been weighed so heavily. [Opinionator / New York Times]
* “[N]o one has a crystal ball,” but right now, it’s highly likely that the Supreme Court will take up another gay marriage case. Perhaps it’ll be the one that’s currently unfolding in Pennsylvania. [Legal Intelligencer]
* According to a recent survey conducted by Randstad, about 60 percent of lawyers are proud to be members of the legal profession, which is impressive(!) considering how unhappy they are. [The Lawyer]
* Birds of a feather really do flock together. Philip Alito, son of Justice Samuel Alito, will join Eugene Scalia, son of Justice Antonin Scalia, at Gibson Dunn’s Washington, D.C. office. [Blog of Legal Times]
* Even though the vast majority of his race-based claims were dismissed on summary judgment, this “token black associate” still has a respected Biglaw firm up against the Ropes. [National Law Journal]
* Law school applications are plummeting, but top law schools haven’t started scraping the bottom of the barrel — their applicants’ LSAT scores have remained relatively competitive. [WSJ Law Blog (sub. req.)]
* I am Chelsea Manning, I am a female.” Considering (s)he was just sentenced to 35 years in prison,
Bradley Chelsea Manning picked a great time to make this announcement to the world. [Chicago Tribune]
* You dare call the Duchess of Dumplins racist and sexist? When it comes to Paula Deen’s new legal team from Morgan Lewis, five are women, and four are black. Take that, Lisa Jackson. [Am Law Daily]
- Biglaw, Bonuses, Clerkships, Fabulosity, Money, Munger Tolles & Olson, SCOTUS, Supreme Court, Supreme Court Clerks
There hasn’t been much major good news on the associate compensation front over the past few years — since, say, January 2007. But recent weeks have brought pockets of minor good news for limited constituencies. Green shoots, anyone?
In Miami, Greenberg Traurig raised starting salaries by 16 percent, from $125,000 to $145,000. In New York, Sullivan & Cromwell and Skadden Arps started offering $300,000 signing bonuses to Supreme Court clerks.
And now $300K bonuses for SCOTUS clerks have spread, to other law firms in other cities. Consider this the new going rate for top-shelf talent….
For many law schools, the bidding process for the upcoming on-campus interview season closed yesterday. In bidding, schools quite reasonably advise students to select potential employers that align with their aspirations and geographic preferences. For example, the section of the Duke Law web site devoted to OCI admonishes students to “thoroughly research” potential employers and to “focus only on employers in whom you are genuinely interested and that match your career goals.” Presumably, one career goal shared by all law school graduates is to eventually be free of debt. As previously and repeatedly noted, for most, a Biglaw associate position is the only employment outcome which gives the graduate a plausible prospect of paying off his student loans.
So what shapes student perception of large law firms and drives the decision of the law student in prioritizing their OCI bids? No doubt there are unique versions of received wisdom that get passed from generation to generation of students at every school. And of course there are plenty of media entities measuring firms against one another: revenues (AmLaw), “prestige” (Vault), practice area prowess (Chambers) and so on. This being the time of year where Biglaw careers are just starting to be built, we thought it would be interesting to look at how students themselves rate law firms. Which firms are the law student favorites?
Apple’s had a rough go of it since the untimely death of Founder, CEO, and Inventor of the Tactical Turtleneck Steve Jobs. Not even Siri (especially not Siri) could answer where the awesome had gone.
Tech observers might point to today’s unveiling of a new operating system that looks decidedly unterrible as the turning point for the company.
But the real turning point was probably when Apple got its own Clarence Darrow…