Partner Issues

The elite California law firm of Irell & Manella is a top firm for diversity. It’s a top firm for associate satisfaction. And, on a related note to associate satisfaction, it’s a top firm for bonuses.

Year-end bonuses at Irell & Manella for associates who meet their hours typically beat the New York market by a healthy amount. In recent years, they’ve been as high as twice the Cravath scale.

Alas, that’s not the case this year. But the Irell bonuses are still nothing to scoff at….

double red triangle arrows Continue reading “Associate Bonus Watch: Irell & Manella Beats The Market Again (But By Less Than Usual)”

For the past two weeks, readers of this column have benefited from the insights of Professor William (Bill) Henderson of Indiana University’s Maurer School of Law regarding the current state of Biglaw. When Professor Henderson kindly acceded to being interviewed, he made a request that was both unexpected and welcome: he asked that I commit to answering a number of his questions in return.

I agreed and am pleased to present our exchange. I found his questions probing, and I have tried to answer them from a broad perspective, despite the fact that they call for some personal viewpoints that are by their nature unique to my outlook and experiences. I have answered the questions in the order presented, and have not altered them in any way. Now, I get my turn in the interviewee’s chair….

double red triangle arrows Continue reading “A Discussion About Biglaw’s Present: My Turn (Part 1)”

I like to say we traded in an old Camry for a new Mercedes, and the Mercedes is cheaper.

Paul Thompson, partner-in-charge of McDermott Will & Emery’s office in Washington, D.C., joking about the firm’s new office space. MWE’s D.C. office recently downsized from 189,000 to 165,000 square feet in real estate.

As we’ve chronicled in these pages, the powerhouse firm of Weil Gotshal has been experiencing some upheaval. The big summer layoffs have been followed by a steady stream of partner departures, mainly from offices outside the power center of New York.

Many of the defections have taken place in Texas, but Weil’s Washington outpost has also been hard hit. Last month, that office lost three IP litigators to Greenberg Traurig. Said one of our sources, “IP was one of Weil D.C.’s most profitable practice groups. Expect downsizing or partner acquisition from another firm to compensate for loss.” And that wasn’t all. Earlier this month, BuckleySandler snagged Walter Zalenski, a prominent player in financial services regulatory law, from Weil.

Today brings news of another departure from Weil in Washington. Who is leaving now, and where is he going?

double red triangle arrows Continue reading “As The Weil Turns: A Promising Young Partner Packs Up And Moves On”

This is as close to titillating as I’ll ever get in one of these columns:  When a senior lawyer (or executive) leaves a company in December, what does that mean?

Basically, Ecclesiastes is all about changing jobs:  ”To every thing there is a season.”

When a partner at a law firm moves laterally in January, that’s like leaves changing in autumn.  The partner waited to receive his (or her) year-end bonus from firm A and, having pocketed the bonus, then moved on to firm B.  That makes the lateral acquisition cheaper for the new firm.

The in-house world is a step slower:  When an in-house lawyer (or executive) moves to a new company in March or April, that’s like snow falling in winter.  The in-house person waited to receive his (or her) annual bonus in March (more or less) and, having pocketed the bonus, then moved on.  That reduces the hiring cost for the new company.

But when an in-house lawyer (or executive) leaves a company in December, that’s a blizzard in May!  The game is afoot!  (Blogging is so good for me.  I just learned that Shakespeare said that first, although I was thinking of Sherlock Holmes (who said it later) when I typed the phrase.)  Quickly, Mr. Watson!  What can we deduce from an out-of-season executive departure?

double red triangle arrows Continue reading “Reading The Tea Leaves When Heads Roll”

Edward De Sear

A story that we thought couldn’t get uglier just did. Edward De Sear, a former partner at several top law firms who stood accused of child pornography distribution, pleaded guilty to four counts of distribution of child pornography and to sex trafficking of a child.

One could argue that federal sentences for mere possession or even distribution of child pornography are too high. As noted in a 2012 article in USA Today, in some cases “offenders who possess and distribute child pornography can go to prison for longer than those who actually rape or sexually abuse a child.”

But if you possess child pornography, distribute child pornography, and sexually abuse children in real life, you deserve to go away for a very long time. What kind of sentence did Edward De Sear receive?

double red triangle arrows Continue reading “Ex-Biglaw Partner Who Possessed Kiddie Porn Pleads Guilty To Child Sex Trafficking”

Ed. note: Please welcome our newest columnist, Gaston Kroub of Kroub, Silbersher & Kolmykov PLLC, an intellectual property litigation boutique here in New York. He’s writing about leaving a Biglaw partnership to start his own firm.

When you work in Biglaw, you are pretty much assured you will have a nice office to go to everyday. Of course, you are also expected to spend the vast majority of your waking hours in that office, particularly as an associate.

My personal Biglaw experience when it came to offices was probably the norm. When I started at Greenberg Traurig, the IP department was located just above some of Bernie Madoff’s offices in the Lipstick Building on Third Avenue in Manhattan. A few years in, we joined the rest of the firm within the MetLife (former Pan Am) Building right over Grand Central. In the summers, and after the partners I worked with relocated more frequently depending on our case load, I would spend time working out of Greenberg’s New Jersey office. While not Manhattan, that office had nice suburban views and was easily accessible off the highway. And when I lateraled to Locke Lord, I got to enjoy a very easy commute from Brooklyn to Lower Manhattan, and some beautiful views from my office of the Hudson River and New York Harbor.

Biglaw does office space right. In some respects, though, that is changing….

double red triangle arrows Continue reading “Beyond Biglaw: Finding Space In The Big City”

* The DOJ is looking to retry an accused Somali pirate. They’re totally on top of piracy as long as it doesn’t take place here. [The Blog of the Legal Times]

* Yesterday we posted our holiday tipping thread, heavily citing Corporette’s Kat Griffin. Now she’s posted her own guide and we’re linking to it. It’s like Inception up in here. [Corporette]

* Why fashion gets knocked off: delving into the world of design patents and trade dress. [Fashionista]

* Comparing the modern NSA to the intelligence-gathering techniques employed during the American Revolution. Interesting stuff, but a total cover-up job. Where’s the discussion of Ben Franklin’s “electric kite drones,” eh? You must think we’re pretty naïve, Logan Beirne. [Fox News]

* Incredibly sad, but also incredibly fascinating: if a child is rendered brain dead by a possible medical mistake, should the state honor the wishes of the family to keep the kid on life support even though every day on life support makes an investigation into the cause of death harder? [CNN]

* Loyola University Chicago introduces a new curriculum to give students an opportunity to get real-world experience with a judge or practicing lawyer before graduating. A law school focusing on training lawyers to be lawyers? This isn’t all that surprising when you look back at Dean Yellen’s previous work. [Loyola University Chicago]

* Congratulations to Therese Pritchard on her election as the first female chair of Bryan Cave. We’re big fans… until you fail to leak your bonus memo to us first. The ball’s in your court now Pritchard. [WSJ Law Blog]

* The venerable Green Bag is parting ways with GMU Law. Thankfully, it has already found a new home. [PrawfsBlawg]

* Former White House attorney John Michael Farren who we reported on a lot in the past about beating his wife nearly to death… was found liable for beating his wife nearly to death. So that happened. [News Times]

Law school’s epitaph?

* “No one calls me Justice Sotomayor and no one calls Justice Kagan Justice Ginsberg. It’s an exhilarating change.” Back in the day, people used to mistake the Notorious RBG for Justice Sandra Day O’Connor. How rude. [WSJ Law Blog (sub. req.)]

* Eversheds, the national U.K. law firm that sounds like it’s an outdoor storage emporium, has elected a new chairman. Congrats to Paul Smith, who specializes in environmental law, and will begin his four-year term on May 1. [Am Law Daily]

* In his last year of service, California Treasurer Bill Lockyer will moonlight in Brown Rudnick’s Irvine office. Critics think this move “looks and smells bad.” If it’s brown, flush it down? [Bloomberg]

* Down 11 percent from last year, this fall, law schools enrolled the fewest amount of students since 1975, when there were only 163 ABA-accredited schools. Too bad tuition’s still so high. [National Law Journal]

* Aaron Hernandez is now facing a wrongful death suit filed by Odin Lloyd’s family. Without anything else to say about this sports-related legal news, here’s a picture of Elie Hernandezing. [Associated Press]

* George Zimmerman is an artiste extraordinaire, and one of his paintings is currently for sale on eBay where the price has been bid up to $110,100. The guy’s almost as talented as George W. Bush. [CNN]

Earlier this month, I had the pleasure of attending the New York holiday party of Susman Godfrey, one of the nation’s most impressive — and most feared — litigation boutiques. The mood was celebratory (and not just because of the delicious food, provided by celebrated chef Daniel Boulud, and free-flowing drink).

The associates I spoke with — who all enjoy their own private offices, no small perk in the New York law firm world — exhibited a great esprit de corps. Unlike so many other associates I meet, they seemed genuinely glad to be at their firm and enthusiastic about their work.

The fact that bonuses were just around the corner surely helped. We’ve covered Susman Godfrey’s generous bonuses in the past, and they never disappoint.

I recently chatted with founding partner Stephen Susman about what he described as his firm’s “unique approach” to bonuses. Here’s what we discussed — including how big his firm’s bonuses are this year….

double red triangle arrows Continue reading “Associate Bonus Watch: Susman Godfrey”

Page 12 of 1021...8910111213141516...102