Firm Information - Mid-Atlantic

[Alex_de_Large]

Originally posted by sebastian_dangerfield
You just had to pay some money and they put you on the list. Its even less credible than when Philadelphia Magazine used to compile its 100 Best list. There are a lot of great lawyers in the list, of course, but its also populated (30% or so) with idiots who got their friends to give them a vote. All you needed was something like 5 votes and you were a "super lawyer".

Well lets nominate each other next year, then.

[Alex_de_Large]

According to today's Legal, Reed Smith partner Sean Halpin died of unknown causes this past weekend. He was only 35 years old, and was found dead in the stairwell of his apartment building.

[Alex_de_Large]

Reaching the top ranks: women and minorities begin making headway in the law community.

Acceptance is growing for part time lawyers.

Corporate cost-cutting benefits boutiques.

Lawyers help develop Afghan legal structure.

Law: Pa. case saves insurers from extra liability.

[Alex_de_Large]

Today's Legal (subscription required) has an article about a recent feature in "The Deal" which described the Philadelphia market as "the worst legal market in America..." Ouch.

I've got someone looking for a good divorce lawyer in Allegheny County. Any names?

[Alex_de_Large]

Originally posted by TexLex
I've got someone looking for a good divorce lawyer in Allegheny County. Any names?

Let me ask around...

[baltassoc]

After a brief respite, no doubt caused in part by the recession, Piper has once again begun to look for merger partners. It looks to be talking with Gray Cary in CA and DLA in the UK. If both deals go through, Piper will have over 3000 attorneys.

No word on whether they'll still suck. (I kid, I kid.)

http://www.bizjournals.com/industrie...6.html?f=et153
(may require free registration)

[Alex_de_Large]

Originally posted by baltassoc
After a brief respite, no doubt caused in part by the recession, Piper has once again begun to look for merger partners. It looks to be talking with Gray Cary in CA and DLA in the UK. If both deals go through, Piper will have over 3000 attorneys.

No word on whether they'll still suck. (I kid, I kid.)

http://www.bizjournals.com/industrie...6.html?f=et153
(may require free registration)

Jesus, 3000 lawyers?

[sebastian_dangerfield]

Anybody seen the Legal Intelligencer's "Lawyers on the Fast Track"? Who votes on these people?

[baltassoc]

Originally posted by sebastian_dangerfield
Anybody seen the Legal Intelligencer's "Lawyers on the Fast Track"? Who votes on these people?

Are you asking because you were named, or because youweren't?

As an aside, my former boss still fumes over the fact the assmonkey across the street was named "best" in their shared specialty in a similar article in a local paper a couple of years ago. I think it wasn't so much about him not getting it as the assmonkey being named. He raised a stink with the managing editor (a golfing buddy) and eventually found out the writer's methodology was to call up a lawyer friend of his from college and then print whatever they guy came up with. Turns out assmonkey had taught a CLE in the subject a few months before that the lawyer/source attended.

[Alex_de_Large]

Originally posted by baltassoc
Are you asking because you were named, or because youweren't?

As an aside, my former boss still fumes over the fact the assmonkey across the street was named "best" in their shared specialty in a similar article in a local paper a couple of years ago. I think it wasn't so much about him not getting it as the assmonkey being named. He raised a stink with the managing editor (a golfing buddy) and eventually found out the writer's methodology was to call up a lawyer friend of his from college and then print whatever they guy came up with. Turns out assmonkey had taught a CLE in the subject a few months before that the lawyer/source attended.

That's exactly it. It's incredibly subjective and not based on anything even remotely approaching reason.

[Alex_de_Large]

According to today's Legal Intelligencer (subscription required) Wolf Block has decided to raise first year salaries to $115k, joing a host of other peer firms that have done so in the last 6 weeks. Dechert and MLB are still out in front in the Philadelphai market at $125k.

I am not exactly sure what is prompting this, but it is certainly good news, as it appears that the bonus wheels might start turning once again.

AdL

[Alex_de_Large]

Three more Philadelphia firms, Hangley Aronchick ($115k), Saul Ewing ($115k), and Fox Fothschild ($110k), are raising their starting salaries (subscription required to view link). These firms join Ballard ($115k), Blank Rome ($115k), Duane Morris ($115k), Pepper ($115k), Reed Smith ($115k), Wolf Block ($115k), and Cozen ($110), which all moved up earlier this year. Dechert ($125k), MLB ($125k) and Drinker ($115) made a move about 2 years ago, and are still at the top of the market.

[baltassoc]

As I just mentioned on the FB, I am taking a leave of Lawtalkers for a while, and if/when I return, will not do so as baltassoc, as the sock no longer fits.

I have given RT notice that I am resigning as a moderator of the Mid-Atlantic board.

I wish you guys best of luck. Somebody please try to pick up a Baltimore story or two when you happen to notice.

[Alex_de_Large]

Buchanan, Stradley Join Move to $115K Starting Salary
Jeff Blumenthal
The Legal Intelligencer
02-01-2005


Two more Philadelphia law firms have decided to raise starting salaries to $115,000 annually. Buchanan Ingersoll and Stradley Ronon Stevens & Young announced their decisions in the past week, making it 12 firms that have raised their wages for first-year entry-level associates in the past several months.

Buchanan Ingersoll had been paying $105,000 a year to new associates, but Philadelphia office managing partner Howard Scher said the market shift made the firm rethink its situation.

"We have clients who want first-class legal representation, so we have to compete for the best people," Scher said. "While I don't think that $5,000 or $10,000 should be the basis for making a career decision, it is for people at that stage of their careers. So we hope this shows law students that Buchanan Ingersoll is a first-class firm."

Buchanan Ingersoll initiated the raises to $115,000 immediately in its Philadelphia, New York, Washington, D.C., and Wilmington offices but all other offices -- including its Pittsburgh home base -- will pay $110,000. Scher said the firm will pay for the raises from its partner profits and not through increasing associate billable hours requirements or billable rates for clients.

Scher also said the firm wanted to avoid "compression" in pay differences among associate classes, so it also increased salaries for experienced associates. When asked if those increases matched the $10,000 hike for first-years, Scher said he was not certain but that there would be a discernable difference between the salary levels for each class.

At Stradley Ronon, new managing partner Jeffrey Lutsky announced the increases Friday to the firm's associates. The 140-attorney Stradley Ronon has traditionally lingered behind other large firms when it comes to salary. Its starting salary had previously been set at $102,000, slightly below the old standard of $105,000.

Lutsky declined to reveal the firm's profits per equity partner or revenue per lawyer but did say they were competitive with those of the firms that now pay their associates $115,000. So he said it only seemed natural to pay its associates that kind of money.

"Traditionally, we have been behind the other firms with associate salaries but we are competitive financially," Lutsky said. "We've been competing successfully for top talent for years but when the market moved, we just wanted to enhance our competitiveness in recruiting law students and retaining and attracting associates. We are coming off our third tremendously successful year and we hope this demonstrates that fact."

Like Buchanan Ingersoll, Stradley Ronon plans to foot the bill for the raises -- which kick in immediately -- by dipping into partner profits. Lutsky said all associates will receive raises, but those at the lower rungs will receive larger increases. He said the firm is giving senior associates expanded opportunities for merit raises and bonuses, which are rewarded through billable hours and business generation.

Lutsky said Stradley Ronon will not increase billable hour requirements -- 1,900 hours for junior associates and 1,850 for senior associates. He said the firm will increase its summer associate program from six law students to a class of nine.

The latest round of starting salary increases began in the fall, when six firms -- Ballard Spahr Andrews & Ingersoll, Blank Rome, Duane Morris, Pepper Hamilton, Reed Smith and Wolf Block Schorr & Solis-Cohen -- raised their salaries to $115,000, and Cozen O'Connor moved up to $110,000. Dechert and Morgan Lewis & Bockius had already established a starting salary of $125,000 two years ago while Drinker Biddle & Reath moved to $115,000 soon after.

Two more Philadelphia law firms -- Hangley Aronchick Segal & Pudlin and Saul Ewing -- joined the parade in December. Meanwhile, Fox Rothschild raised its starting salary from $100,000 to $110,000.