Traditional law firm models have long relied on profitability strategies anchored around several key levers, including annual rate increases, improved discount management and collections, and expense management. While these are necessary and important, they are subject to the law of diminishing returns as most firms with good execution capabilities can easily replicate these tactics.
A look at moves among attorneys, law firms, companies and other players in entertainment law.
At a time when Big Law partner pay flexibility is key, law firms are leaning on bonuses and a mix of partner equity and cash to reward top performers and entice lateral partners, industry observers say. Some firms are even dangling “triple-bonus” packages.
Heightened demand for liability management exercises and private credit transactions involving distressed companies are among the factors behind a series of lateral partner moves in the restructuring realm this month, according to firms that made recent hires.
A look at moves among attorneys, law firms, companies and other players in entertainment law.
A look at moves among attorneys, law firms, companies and other players in entertainment law.
Law firms often approach executive staff hiring with a fraction of that rigor they spend on recruiting partners and laterals. The result is a category of mistake that is expensive, slow to surface, and entirely preventable.
A look at moves among attorneys, law firms, companies and other players in entertainment law.
To win the talent war in this free-agency era of partner movement, firms must have a war chest. After all, anything is on the table now, recruiters say, when it comes to lateral moves.
The most important question in modern onboarding is no longer, “Did we Google them?” It’s: “Do we have a clear, defensible understanding of the reputational and conduct risks associated with this client or individual — and can we stand behind that decision if it is later challenged?”
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