James B. Stewart

New Partner Watch: Does Cravath’s Bumper Crop Bode Well for Biglaw Bonuses?

By

Time to start practicing the Cravath walk? (Google it if you’re not familiar.)

In an excellent essay reflecting on his time at Cravath, lawyer turned author James B. Stewart had this to say about the associates who made partner: “They weren’t necessarily the brightest…. They weren’t, as I had expected, the hardest-working…. They weren’t the most personable…. Finally it came to me: The one thing nearly all the partners had in common was they loved their work.”

Move over, Virginia. Cravath is for lovers — of work.

The firm just named its latest class of lovers. How many new partners did CSM just make, and what might this suggest about the firm’s market-setting bonuses?

double red triangle arrows Continue reading “New Partner Watch: Does Cravath’s Bumper Crop Bode Well for Biglaw Bonuses?”

3 Comments

Biglaw: It’s Not All About the Benjamins

By

Maybe they’re on to something….

Here’s an interesting irony: some of the Biglaw firms that spend the least amount of time thinking about money are the ones that enjoy the most of it. A number of super-elite New York law firms have lockstep compensation systems, in which partners are paid purely based on seniority, and these firms are among the most profitable in the country. These firms focus on doing great work for their clients, not on divvying up the spoils from such work — and, in the end, there’s more than enough filthy lucre to keep everyone smelling like money.

On an individual level, some of the wealthiest lawyers in Biglaw — the ones who make partner, and remain partner, for years and years — don’t fixate much on money either. They focus instead on their work, which they seem to just love (often more than any hobbies, and sometimes more than their families). As for the money, well, it just comes — in copious quantities.

Let’s take a closer look at these phenomena….

double red triangle arrows Continue reading “Biglaw: It’s Not All About the Benjamins”

68 Comments

Dewey & LeBoeuf: A Visual Essay (Part 1)

By

They say that a picture is worth a thousand words. Here at Above the Law, we have given you many thousands of words about the troubles of Dewey & LeBoeuf. See, e.g., this lengthy post about the firm’s former leaders, ex-chairman Steven Davis and former executive director Stephen DiCarmine.

Now we bring you some pictures. As it turns out, the possible demise of Dewey has inspired the creation of art.

Keep reading, and check out the images below for a forthcoming portrait of former chairman Steven Davis, a chilling photograph, and an unfortunate D&L advertisement….

double red triangle arrows Continue reading “Dewey & LeBoeuf: A Visual Essay (Part 1)”

64 Comments