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Bursting the Bubble of Associate Compensation Image

Bursting the Bubble of Associate Compensation

Timothy B. Corcoran

Smart business leaders compete by constantly seeking cost advantages. Yet law firm leaders compete by perpetually increasing associate compensation. As always, this will not end well.

Features

Lawyer Well-Being at Work: It's a Two-Way Street Image

Lawyer Well-Being at Work: It's a Two-Way Street

John F. Hollway

It's Not the Number of Hours We're Billing or the Number of Hours We're Working; It's the Way We Feel About How We Spend Those Hours That Matters Working long hours, tracking those hours and feeling that we have to grind all year to hit a specific number of hours to meet a profitability target can make us feel like fungible, dehumanized automatons rather than highly trained providers of specific and thoughtful solutions to complex legal challenges.

Features

New Partners Are Worried About Mental Health and a Looming Recession, Annual Survey Finds Image

New Partners Are Worried About Mental Health and a Looming Recession, Annual Survey Finds

Dylan Jackson

Newly minted partners offered up some usual complaints on this year's New Partners Survey, lamenting unexpectedly low compensation, opaque performance metrics and copious administrative work. But new anxieties have arisen among Big Law's latest partner class, including the threat of a recession and growing concerns about mental health.

Features

Increasing Client Requirements: Securing Law Firms for the 21st Century Image

Increasing Client Requirements: Securing Law Firms for the 21st Century

Debra Gray

Clients expect sophisticated and secure systems to keep their information safe. This obviously makes your IT professional's job much harder. Additionally, attorneys expect instant performance and near 100% up time. Achieving the delicate balance between accessibility and security is a challenge.

Features

Law Firm Debt Levels Shrink as Partners Put More Skin in the Game Image

Law Firm Debt Levels Shrink as Partners Put More Skin in the Game

Lizzy McLellan

What Does Widespread 'Deleveraging' Mean for Law Firm Health? Industry watchers say law firms have become less reliant on bank debt over the past decade, as they explore other funding options. Often, that means raising capital from partners, or turning to other, less common sources.

Features

Exit Strategies: Aging Partners Are Forcing Firms to Reconsider Retirement Image

Exit Strategies: Aging Partners Are Forcing Firms to Reconsider Retirement

Dylan Jackson

Baby boomers control an outsize portion of law firm business. As they inch toward retirement, how are firms preparing for the transition process?

Features

Reimagining Business Development Training and Coaching Image

Reimagining Business Development Training and Coaching

Debra Baker

Six Pillars of a Successful Bus-Dev Program For firms wanting to thrive through the next economic downturn and beyond, mastery of business development fundamentals is as essential as mastering legal skills. Yet training and coaching — whether done internally or through outside consultants — requires an investment in time and resources.

Features

Law Firm Revenues Rise as Demand Accelerates, Citi Reports Image

Law Firm Revenues Rise as Demand Accelerates, Citi Reports

Gretta Rusanow

There is a lot of good news in the nine-month 2019 industry results. While we might not end the year with the strong growth levels seen in 2018, we anticipate that 2019 will be a decent year. For the first time this year, revenue growth exceeded expense growth.

Features

Determining Who Should Serve As the Billing Partner Image

Determining Who Should Serve As the Billing Partner

Joel A. Rose

Due to a law firm's team-oriented approach to business development and client service efforts, it is not always clear who should logically and most efficiently serve as the billing partner for a client or a particular client matter. A person should only be a billing partner if he or she is or will be performing the functions outline herein.

Features

How to Become a Rainmaker Image

How to Become a Rainmaker

Arnold Keiser

Almost anyone willing to develop the qualities necessary can become a rainmaker.

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