At the same time they're wooing expensive lateral talent, many firms are also shedding dozens of lawyers at home every year—their associates. More careful training and management of associates and junior partners would likely help firms avoid the need for so many lateral recruits in the first place.
Three ways to deepen ties to clients and alumni.
Pepper Hamilton's experience in hiring a nonlawyer CEO offers a case study in why law firms grappling with competitive pressures might want to think creatively when it comes to picking their next leader.
Looking closely at what your firm is paying its nonequity partners and at what that money is getting you is a hard—but critical—step that managing partners should take this year.
It's been 25 years since Finley Kumble's demise, and many Am Law 200 leaders have learned from its most serious blunders. Still, some of the notorious firm's questionable strategies persist.
Women have been in the senior associate and partnership pipeline for decades now, and yet their equity partner numbers have barely budged. Why aren't the statistics better?
Am Law 200 managing partners across the country are being asked the same question by their partners: Tell us why our firm is not like Dewey & LeBoeuf. For some law firm leaders, that's an easy question to answer. For others, maybe not.
While there are many lessons to be learned from Dewey & LeBoeuf's demise, one point stands out to me: Watching the end of such a prominent firm will make many other Am Law 200 partners a little more insecure about their own situation.
This is a big month for The American Lawyer: We publish our annual Am Law 100 ranking, we celebrate the twenty-fifth anniversary of that list, and by the time you read this, our revamped Web site will be live at americanlawyer.com.