“One question I’ve asked lawyers is whether Big Law’s outstanding financial performance in 2021 was a historical anomaly or the result of a secular shift that bolstered large law firm business prospects. Most people I’ve spoken to believe the former. The typical story is Big Law benefited from,” reports Roy Strom in Bloomberg Law.

“Unprecedented financial conditions caused by the response to the pandemic. The industry’s biggest profit machine teams of lawyers working on M&A and capital markets transactions went into hyperdrive. As that machine winds down, Big Law will go back to its more routine, longer-term trajectory. That camp will likely see Big Law’s first half.”

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“Here at Above the Law, we’ve spent the past week or two discussing what makes Biglaw associates satisfied with their jobs. From their compensation to their firm’s commitment to their career development to their interaction with partners, there’s a whole lot at play when it comes to keeping associates,” reports Staci Zaretsky in Above The Law.

“As part of the American Lawyer’s Midlevel Associates Survey, firms were assessed on several aspects of job satisfaction and graded on a scale of 1 to 5, with 5 being the highest score. For the city-by-city satisfaction ranking, firms were rated by location listing which associates are most satisfied across a particular city. As noted by Am Law.”

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“The dog days of summer are here, and for those who are working at Biglaw firms that adopted a “remote August” plan, the clock is ticking on their full-time work-from-home flexibility. Earlier this week, one of the top firms in the nation emailed all of its associates to let them know just how little time,” reports Staci Zaretsky in Above The Law.

“Skadden Arps a firm that came in at No. 5 on the most recent Am Law 100 ranking after bringing in $3,022,380,000 gross revenue in 2021 has permitted all of its attorneys to work remotely this month, but once September rolls around, things will look a little different for the firm. Executive partner Eric Friedman noted.”

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“Earlier this week, we provided special coverage of what we believe was the first firm to hand out special bonuses to associates this summer. Littler, an Am Law 100 firm, handed out special bonuses that averaged $10,000 to eligible associates who were on a 2,100-hour pace at the end of June. It’s been,” reports Staci Zaretsky in Above The Law.

“A source at a top Am Law firm reached out to us to let us know why they think this could be. Firms continue to crush associates our tipster said. They want us to feel grateful And what should associates be grateful for? That they’re still employed at the firm, of course. Our informant thinks that Biglaw partners are socking away cash.”

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“What does it take to cultivate job satisfaction at a law firm? In a new report from BTI Consulting, associates pointed out exactly what they wanted from and valued in their work lives, and which firms were the best at committing to their overall happiness. According to BTI, Biglaw associates are looking,” reports Staci Zaretsky in Above The Law.

“After going evaluating 4,000 responses, BTI found that 147 Biglaw firms did the best job when it came to associate satisfaction. Sounds nice, right? It turns out that women aren’t nearly as satisfied at their Biglaw firms. When separated by gender, women associates ranked just 122 firms as the best for overall job satisfaction. In fact. ”

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“Folks sure are worried about the economy, given that we’re in a technical recession right now. But in the wonderful world of Biglaw, the money still seems to be flowing quite freely, and law firm leaders want their associates and counsel to know just how much their hard work is appreciated. You know,” reports Staci Zaretsky in Above The Law.

“Special bonuses were all the rage in 2020 thanks to Cooley and Davis Polk and 2021 thanks to Willkie and Davis Polk, and it seems that the latest round of special bonuses may be in the offing. Are you ready for more cold, hard cash We’ve received word that Littler a firm ranked at No. 71 in the most recent Am Law 100, after having brought.”

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“For those working in Biglaw, there was nothing “great” about the Great Recession. Thousands of associates were laid off, incoming associates had their employment deferred, and law students had their offers pulled. It ultimately took Biglaw years to recover, and it was far from a painless endeavor.” reports Staci Zaretsky in Above The Law.

“And let us not forget the recession caused by the 2020 coronavirus crisis, when Biglaw firms managed their expenses by using the cost-cutting measures of salary cuts, furloughs, staff layoffs, and stealth associate layoffs. That was no picnic either. But what will happen when the next recession arrives? Are these firms prepared to face what.”

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“This month, New York City’s Rent Guidelines Board is expected to greenlight the biggest rent increase in a decade, the latest piece of bad news for tenants facing a record housing crisis. Rents are skyrocketing by double-digits in New York and evictions are soaring to levels not seen since before the,” reports Sateesh Nori in their City Limits.

“The Board has claimed that it’s only looking after small landlords, the mom-and-pops who saved up to buy an investment property and now struggle to make ends meet. It’s hard to argue that we shouldn’t support such real estate entrepreneurs, especially Black and brown homeowners, for whom becoming a landlord is a route.”

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“The Adelaide Economic Development Agency has appointed former Merrill Lynch and Barclays Capital executive Tim Last to its board. Last is currently Partner/Director at Adelaide corporate advisory SRG Partners, where he has worked since May 2020 advising industry clients in agriculture, defence, health,” reports Thomas Kelsall in In Daily.

“He joined SRG after eight years in Hong Kong with stockbrokers Ord Minnett as Head of Sales, Trading and Capital Markets. He also spent nearly two years with Barclays Capital, five years with Merrill Lynch and six years with Macquarie Group in similar executive positions. Last said he was extremely humbled to join the AEDA board.”

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“If you’ve already reached the pinnacle of your professional aspirations, congratulations – you are in rare company. If you are like the rest of us, then you are continually trying to grow and develop. Professional success rarely happens by accident. This rings even more true during turbulent economic times. The cost of,” reports Mark Hall in Forbes.

“The cost of entry for success starts with discipline, proactiveness, self-awareness, stakeholder management, networking, and much more. There are an endless number of books written about the best practices of career development within large corporations, some with decent advice and some with outdated guidance. However.”

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“The Biglaw ranking-fest that is the Am Law 200 is out today. While the top 100 firms were previously released, today’s spotlight is on the second hundred firms that is, those ranked 101 to 200. Let’s start with the good news because there’s a lot positive in the numbers.  Overall gross revenue for,” reports Kathryn Rubino in Above The Law.

“The second hundred is up 9.1 percent as is headcount, up 1.3 percent. Other health indicators had a strong performance last year, with revenue per lawyer up 7.7 percent, and profits per equity partner is up too 11.8 percent. But as ALM reports, there are cracks to be seen. when the crunch is on, well, expect to see partners who feel like.”

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“Miami is Big Law’s latest go-to destination as the city looks to reshape itself and firms follow clients making their way south. Kirkland & Ellis, the world’s largest law firm, and Winston & Strawn on Thursday announced the opening of new respective offices in Miami. They are the latest in a wave of,” reports Meghan Tribe in Bloomberg Law.

“Quinn Emanuel Urquhart & Sullivan opened its Miami location in May 2021, hiring Mayor Francis Suarez in a counsel position. King & Spalding launched its office in January and Sidley Austin has recently hired several partners in the city, though the firm hasn’t officially opened an office yet. This is unprecedented to have this amount.”

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“From a global pandemic to extreme weather events, supply shortages and a global energy crisis, it’s been a wild couple of years. The uncertainty and instability has bred innovation among corporate energy buyers: Not only are those with experience exploring and using a wider range of contract types, but,” reports Sarah Golden in Green Biz.

“A broader range of companies of all sizes have gotten more comfortable with taking the plunge into renewables procurement. That’s according to “State of the Market,” an annual report from the Clean Energy Buyers Association (CEBA) that identifies top trends from the energy deals inked by U.S.-based corporations. CEBA, an advocacy.”

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“Proposed US rules causing banks to sour on SPACs are having the opposite effect on Big Law firms that see an uptick in inquiries about special purpose acquisition companies. Lawyers are advising SPACs, investors, and target companies on what the rules will mean for deals being negotiated now and,” reports Roy Strom in Bloomberg Law.

“In the past few weeks the work has increased, said Josh DuClos, co-head of the SPACs group at Sidley Austin. We’re having conversations with investors, banks, sponsors, about what these rules will mean. The US Securities and Exchange Commission proposal is creating business for law firms that benefited from the boom in the vehicles.”

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“I used to look out at the Hudson from the window of my beautiful office at a Biglaw firm in Manhattan and pinch myself, not believing that I had made it. As a young associate, I had a passion for making connections and building relationships. I quickly realized that such skills would set me up for success,” reports Jill Woods in Above The Law.

“I was newly married and had just bought a house in the suburbs without any kids.  Before I took the job, my husband and I had a serious conversation, where we candidly discussed what our future would look like if I took this job and if we started a family. I would be over an hour away from our kids, and my husband would be the one.”

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“This may sound hard to believe, but some Biglaw firms are still matching Cravath. We’re not talking about Am Law 200 firms here; we’re talking about worldwide heavy hitters ranked near the tippy top of the Am Law 100. So, which firm is just now getting around to offering market compensation? That,” reports Staci Zaretsky in Above The Law.

“It would be Norton Rose Fulbright — a firm ranked at #14 in the most recent Am Law 100, after bringing in $2,100,000,000 gross revenue in 2021. The firm recently notified associates that it would, in fact, be matching the prevailing Cravath salary scale. Sources at the firm tell us that their raises quietly went into effect a few weeks ago.”

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“Disproportionate attrition of female attorneys in Biglaw is hardly a new problem. As a 2019 ABA and ALM report on the issue noted, entering associate classes have been comprised of approximately 45% women for several decades. Indeed, at five of the top 20 Am Law firms (by gross revenue), female,” reports Lauren Smith in Above The Law.

“But when it comes to partnerships, representation of women is substantially lower. Among those top 20 Am Law firms, here are the four with the greatest proportion of female partners. Ropes & Gray is the standout performer, as the only top 20 firm with greater than 30% female representation in its partnership. Interestingly, unlike the other.”

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“The Am Law 100 was recently announced, ranking the top Biglaw firms by 2021 gross revenue. And it was a banger year in Biglaw. Every single Am Law 100 firm saw and increase in revenue. All. Of. Them. Plus 52 firms crossed over into the billion dollars in revenue world. And we know that Biglaw,” reports Kathryn Rubino their Above The Law.

“Firms are struggling to keep up with the demand on their legal services. They’re in need of qualified lawyers to staff the deals/cases that are filling up their books of business. So, yes, the lateral market’s been intense with all manner of repercussions like. But some Biglaw watchers are cautioning there’s a potential downside lurking in this.”

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“In November, I wrote that Big Law firms could use the surging value of their equity shares to check off one of their most pressing tasks: retaining talent. All they’d have to do is hand out equity shares to more people—specifically, those they’re most interested in keeping. It didn’t really happen, at least in the,” reports Roy Strom Bloomberg Law.

“Despite Big Law recording its best year in more than a decade. Revenue across the 100 firms rose 15% last year while profits per partner spiked by nearly 20%, AmLaw reported. The number of equity partners in the AmLaw 100 rose by a paltry 1% last year. Congratulations to the 265 new shareholders—I hope you were one of the lucky two.”

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“Davis Polk announced its new return to office policy late last week. As the whole Biglaw world waits to see which reopening plan becomes the new normal, DPW adopted an approach that maintains a work from home element while mandating full office attendance on certain days to facilitate the in,” reports Joe Patrice in Above The Law.

“It seems to me that three to four days a week and mandating attendance for three specific days means lawyers are going to work three days a week. Not that there’s anything wrong with that, but that’s what’s going to happen. On the one hand, there’s a value to guaranteeing that everyone is in the office at the same time. On the other hand, is there.”

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