Midsize Firms / Regional Firms

Pryor Cashman's Managing Partner On The Many Exciting Benefits Of Working At A Midsize Firm

The leader of this Am Law 200 firm has the scoop on what makes life at midsize firms so enjoyable for lawyers, from culture to work-life balance to gaining hands-on experience.

By  
on
Ron Shechtman

Ron Shechtman

It’s a new year, and for many associates, it may be time for a new job. At the start of 2024, many Biglaw associates find themselves considering making a move to a smaller firm, perhaps a midsize firm. These lawyers have many questions about what their lives at a midsize firm will look like, and how they can make the most of this new experience. What is it about midsize firms that should give attorneys pause when making career choices?

I recently had the pleasure of chatting with Ron Shechtman, managing partner of Pryor Cashman, an Am Law 200 midsize firm, to get his thoughts on some of the immediate benefits associates will be able to realize at a midsize firm as opposed to a Biglaw firm. Here is a (lightly edited and condensed) write-up of our lively conversation on how lawyers can build meaningful careers at a midsize firm.

Staci Zaretsky (SZ): What are some of the biggest benefits an associate can expect to see at a midsize firm in terms of culture?

Ron Shechtman (RS): Associates are likely to recognize that a midsize firm can more readily create a greater sense of community, collegiality, and collaboration, as junior lawyers gain more direct involvement with partners and firm management. It goes beyond just the size of a firm—the nature of the work at a firm like Pryor Cashman is less leveraged in terms of staffing, and associates will usually work in smaller teams with more involvement with the partners leading the case or transaction. They are more likely to be involved with both the client and the partner developing and executing the strategy of the case or transaction. One litigation associate told me that being at our firm as compared to his former Biglaw firm put him “up front” in cases when he was formerly “so far back” that he didn’t know how the cases developed or how his work was used. Moreover, client and business development are encouraged where larger firms eschew small matters and new client development at levels that associates are most likely to initiate.

SZ: Work-life balance is always something that associates are searching for in their careers. Is a midsize firm a good place to find it?

RS: Every firm says that work-life balance is important, but I think the experience of most associates in Biglaw is that it is too often just talk. Making that balance a priority goes beyond lip service and is put into practice at a firm like ours—when I hear that a lawyer or staff member is coaching their kids’ teams, making a commitment to family dinners, or volunteering in their communities, we let them know that the firm will work with them to help realize those aspirations. When I read reports of bigger firms escalating bonus payments for associates who are putting in unsustainable numbers of hours, I know that is a path to burnout, turnover, and general dissatisfaction. Having a more fulfilling life outside of the office translates into having a more engaged and productive professional experience, and both the quality of our client work and the level of associate retention bear that out.

Sponsored

SZ: Do you think that associates will be able to gain more hands-on experience earlier in their careers at a midsize firm than at a Biglaw firm?

RS: I know that we are able to provide a more hands-on professional experience for associates because I hear it from them directly. An associate who is building an impressive practice in our Litigation Group told me, “In the big firms where I worked, there’s a hierarchy where you’re almost always in the back seat, can’t see the whole case, and rarely meet directly with partners and clients. Pryor Cashman is a total contrast, because you really get to ‘become a lawyer’: developing business, managing client expectations, and being in the front seat in court and meetings representing clients.”

Another associate from our Corporate Group told me how different the client relationship is in contrast with her time in Biglaw: “We have a client where the team is just a partner and me. We’ve done multiple deals with them, and I see how the partner builds and manages the client relationship. And now the client feels comfortable calling me up and asking questions, because I know them and am learning their business—which means I can provide a better service and know what works for them. All of this is helpful for my professional development, and you wouldn’t get this experience this early in your career at a larger firm.”

I could provide many more quotes like these. Our associates recognize the benefits of developing their careers in the midsize model, and the satisfaction they get from being up front in their work and mentored directly by partners is game-changing for them.

SZ: What advice do you have for an associate who may be considering a lateral move to a midsize firm?

Sponsored

RS: Do it! But the pressure of being a lawyer doesn’t go away. Even if the requisite hours may be fewer, good lawyering is intense and emotionally demanding. But the opportunities for advancement, as well as business development, are greater. The associate is less likely to be mired in seemingly endless discovery or due diligence. Our retention rates and standing in Vault surveys confirm that for many associates our midsize platform is preferable for the nature of the work and the potential for advancement and business development.

On behalf of everyone here at Above the Law, we’d like to thank Ron Shechtman of Pryor Cashman for taking the time to help answer some pressing career questions for prospective midsize associates.

Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

Topics

, , ,