Susman Godfrey bonuses handily beat the market. “Above the Law” reports that they ranged from $35,000 for associates in the class of 2010 all the way up to $85,000 for associates in the class of 2006. Compare this to the Cravath scale, which pays $14,000 to class of 2010 members and $40,000 to class of 2006 members.
Monthly Archives: December 2012
http://www.americanlawyer.com/PubArticleALD.jsp?id=1202579890310&Bonus_Time_mdash_2012 Keep in mind… $185,000 in New York City = $420,000 in Dallas
Dallas sports has a new hero: Larry Brown and his 8-1 SMU Mustangs
The 20 Most Powerful Law Firm Brands in the World The 20 Most Powerful Law Firm Brands in the World from the American Lawyer. Baker & McKenzie is at #1. All my placements at Baker & McKenzie are still there. No turn-over.
I have done this in 2012 with one of my candidates. I moved a senior associate from one firm and he became a partner on day one at the new firm. From Lawyers Weekly:
For many senior lawyers in the current market, the path to partnership has never been harder.
As Tony Phelps, managing partner of Piper Alderman, explained: “The globalisation of the top tier has put even more emphasis in those firms on conformity to a tight set of partnership criteria, which are both difficult to achieve and unappealing to many people.”
Moving firms can significantly accelerate your route to partnership. Richard Chew joined Piper Alderman earlier this year as a partner in their IP & technology group after nine years with King & Wood Mallesons, where he was a senior associate. As Phelps adds: “In the current market, there are more opportunities for partnership in the mid-sized firms.”
A transportable practice is usually a pre-requisite for partnership, though this is not the only factor. John Nerurker, managing partner of Mills Oakley, who recruited Lisa-Marie McKechnie (previously a senior associate at Minter Ellison) as a partner two years ago, explains: “Financial thresholds apply in terms of average annual billings, but this is only part of the equation. Other factors include acknowledgment as a technical expert, leadership and management skills, and a positive influence on practise or team culture.”
Even if a firm does not offer immediate partnership, an alternative is that you join as a senior associate or special counsel while you build your practice before being promoted to partner, of which there are a number of recent examples.
Either way, a credible business plan setting out your transportable practice and how you plan to develop it is crucial. Thresholds for salaried partnership vary hugely: from practices of $1.5m at some top-tier firms to $400k at smaller mid tiers. Knowing what you have to achieve to make partner at your current firm, and how that compares to the requirements of other firms, is key. In the current market, there are plenty of firms prepared to create opportunities for the right people.
The Perot Museum of Nature and Science opening follows the decade-long boom in Uptown, the opening of the AT&T Performing Arts Center three years ago, the unexpectedly strong popularity of the new Klyde Warren Park and the announcement this week that the Dallas Museum of Art will soon offer free admission and membership. See story in Dallas Morning News
On Monday, January 28, 2013 at 6:00 PM in McFarlin Auditorium. A discussion by Bryan A. Garner, Distinguished Research Professor of Law at SMU Dedman School of Law, and Antonin Scalia, Associate Justice of the Supreme Court of the United States, as they discuss Scalia and Garner’s Reading Law: The Interpretation of Legal Texts.