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BigLaw In Trouble

By Mark H. Astarita, Esq.

BigLaw does somethings really well. Others, not so much, and running their own shops is one of the things that they are not so good at.First they inflated first year salaries. I'm sorry, first year associates are not worth $165,000 a year, and their older siblings are not worth $200,000 a year. I understand that those $165,000 first year associates have the potential to become bright, productive and lucrative partners, and the 165 is an investment. I get it. But the only one who really "gets it" are the clients of BigLaw. Someone is paying that $165,000. (Actually, $495,000 but that is another post).BigLaw firms are bloated. Three attorneys working on the same issue for the same client at the same time. Sure, I understand it. A superior work product, for every client, for every issue...continue to full post

Full post as published by SECLaw.com on December 28, 2008 (boomark / email).