Over the last two weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, and below. As with the two prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues.

AP: How firms are viewed from a value perspective is often very difficult to gauge from the outside. What criteria do you use to determine if a firm is delivering services to your company appropriately from a billing perspective?

double red triangle arrows Continue reading “Buying In: An Interview with an In-House Insider (Part 3)”

Last week I discussed the associate bonus process from your typical partner’s perspective. I want to talk a bit more about ways firms can take advantage of the glut of prospective associates out there, while increasing the odds of finding those rare jewels who will make partner — with each associate making less, but getting a better lifestyle (and a shot at a Biglaw career) in the bargain.

Some caveats. First, the ideas below are not intended for the Simpsons — this Simpson, not those Simpsons — of the world. They will continue to attract the very best, and should continue their current structure. Why? Because the Cravath model that the elite firms instituted makes for great partners and strong law firms. The problem is that almost every Biglaw firm adopted the Cravath model, and not all of them should have. Most firms do not have the institutional client base of the elite firms, and therefore don’t need the tremendous fixed costs and inflexibility with respect to associates that the Cravath model brings. As firms expand, contract, or just struggle to stay afloat post-Biglaw Breakdown, it seems like a great time to try some new approaches to talent structures and compensation. There is nothing wrong with some experimentation, as long as the protocols are transparent, and management is prepared to cut bait quickly if things are not working out.

Now over the years we have seen firms experiment with their junior associate hiring models. Most of these programs involved trying to turn junior associates into some form of quasi-apprentices. None seem to have taken root. And in my mind there is no sense in implementing a drastic, global overhaul of your associate model, before trying some more limited changes on the practice group level.

Here is what I would try….

double red triangle arrows Continue reading “Buying In: More Associates… Making Less”

An old Arab proverb says that there are four types of men:

“He who knows not and knows not he knows not; he is a fool — shun him.

He who knows not and knows he knows not; he is simple — teach him.

He who knows and knows not he knows; he is asleep — wake him.

And he who knows and knows he knows; . . .

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A wise man once said, “Ask yourself whether you are happy, and you cease to be so.” Lawyers, allegedly an unhappy lot, are asked if they are happy all the time. Vault asks, Am Law asks, and in a roundabout way, so do we.

To date, we’ve received nearly 8,000 responses to our ATL Insider Survey. Among other things, our survey poses this question to law firm lawyers: “If you had the chance to do it all over again, would choose to work for your firm?”

Unsurprisingly, those who answer “yes” tend to highly rate their firms in such areas as compensation, culture, and training. For those that wish they could take a Mulligan when it comes to their choice of employer, the inverse is true. Here is a comparison of ratings scores (on a scale of 1-10) for the various aspects of law firm life, broken out by responses to the “Mulligan” question:

SUBJECT ”Yes” ”No”
Compensation 7.81 5.35
Hours 7.38 4.81
Firm Morale 7.7 3.53
Training 7.45 4.32
Culture and Colleagues 8.56 4.56

Hardly counterintuitive stuff, we know, but it allows us to use the “Mulligan” response as a proxy for overall happiness/satisfaction, as it’s so broadly predictive of the nature of the individual’s assessment of his firm.

Back in April, we shared our survey findings showing that Davis Polk was the top firm when it came to morale (to date, this holds true.) Today, we look at whether there are notable differences regarding satisfaction based on practice area. If we slice our survey data by practice, we find that there certainly are. So after the jump, let’s look at how practice groups stack up against one another in terms of the happiness of its practitioners….

double red triangle arrows Continue reading “And Biglaw’s Happiest Campers Are…”

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