by Bruce | June 6, 2024 | Articles, Branding, Business Models, Client Relationships, Finance, Leadership, Marketing, Strategic Client Management
This column is by Janet Stanton, Partner, Adam Smith, Esq. At far too many law firms, client or matter intake consists of a perfunctory credit and conflicts check, and you’re off to the races. This forfeits the opportunity to intentionally and purposefully manage the...
by Bruce | May 8, 2024 | Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
Sometimes it’s the quiet, seemingly unremarkable, things that ultimately rear up and bite you. Here may, or may not, be one. Let’s start with this chart from Thomson Reuters redoubtable annual Report on the State of the US Legal Market (here, the 2024 edition...
by Bruce | December 18, 2023 | About the Site, Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Recruiting
“Cravath To A Million Squillion!” Sorry, but we’ve seen this dance so many times before that, you have to admit, we all know the script by heart. Cravath (or other blue chip firm [insert here]) bumps up associates’ salaries across the board by an average of...
by Bruce | October 5, 2023 | Articles, Business Models, Compensation, Cultural Considerations, Finance, Partnership Structures, Strategy
“Ripped from the headlines,” as the cliche-inclined might say, we have this from The American Lawyer in the past week or so: Elite Firms Revisit Comp Formulas as Star Talent Has ‘Extraordinary Leverage’ Some highlights: According to Kent Zimmerman over...
by Bruce | August 23, 2023 | Articles, Business Models, Finance, Partnership Structures, Practice Group Management, Strategy
The following article is by Janet Stanton, Partner, Adam Smith, Esq. LLC. Quite simply, our reason for exploring the non-equity tier is that (a) there has been explosive growth in that cohort and (b) we’ve not seen recent, comprehensive examination of this phenomenon....
by Bruce | July 16, 2023 | Articles, Branding, Business Models, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategic Client Management, Strategy
It has been four years since we initially published our series laying out a law firm market segmentation model we called the “Maroons & The Grays,”[1] and four years on is none too soon for an update. No model is, or should be, static, and as we have worked with...
