Author: Murray Gottheil

Categories
Firm Culture

Twenty-Four Hundred Hours

A young woman lying down and propping her head up, next to a giant pink alarm clock.
Photo by Koolshooters at Pexels.

I spoke to two law firm partners this week, both of whom told me that their hourly expectation was 2,400 hours per year, consisting of 2,000 billable hours and 400 non-billable hours (administration, firm events, continuing education, business promotion, and mentoring).

I set about to do some math and determine how many hours these people have to spend on their mental and physical health and personal relationships. The law firms are all advertising their  mental health initiatives, so I knew that it would be substantial!

read more about why working 2400 hours is impossible unless you are working on weekends and holidays “Twenty-Four Hundred Hours”
Categories
Law Students and Young Lawyers

Believe in Yourself or Perish!

Confident looking man formally dressed with his arms folded.
Photo by Rene Terp at Pexels.

I have something important to say.  It is so important that I will say it three different ways in the hope that those of you who are too busy trying to achieve your ridiculous hourly billing target to do anything other than skim read will not miss it. Here I go:

read more about the importance of believing in yourself “Believe in Yourself or Perish!”
Categories
Law Firm Management

Big Law Does It Better

Book shelf with ladder in front of it.
Photo by Pixabay at Pexels.

I am willing to bet that you did not expect that headline from me!  And to be fair, I do not intend it as a general statement. What I am going to talk about is legal research, and it is a fact that Big Law does  that better than the rest of us.  While Big Law (and occasionally Medium Law) employs specialists to do their research, the rest of us  either do it ourselves or give the job to articling students, summer students, or  junior lawyers.

read more about doing research Poorly in Law Firms “Big Law Does It Better”
Categories
Fluff

If You Feed Them, They Will Come

A man and a woman having a business lunch.
Photo by Gustavo Fring at Pexels.

When I articled, if lawyers or law students worked past 6 pm, they were welcome to dine at the firm’s expense, as long as they returned to the office to work after dinner.

That sounded like a great deal to a lowly paid student, and I was impressed with how considerate the firm was. Being a slow learner, it took me a while to realize that the firm was trying to encourage lawyers to work late into the evening. It took me even longer to figure out that the lawyers would often work until just after 6 pm, go to dinner until 7:30 pm, and return to the office just long enough to be seen by some partners, and then leave.

read more about free food and law firms “If You Feed Them, They Will Come”
Categories
Law Firm Management

Let’s Talk About Recruiters

Sign that says "this must be the place"
Photo by Timmossholder at Pexels.

Lawyers struggle to attract talent who are both capable and a good fit for a firm’s culture.

If only there were consultants who firms could retain and candidates could work with, who understand the market, the culture in different firms and practice groups, the current salaries being paid by firms of all sizes, and the expectations of law firms and candidates on a multitude of issues, including work from home, vacation entitlement, bonuses, and billable hour requirements.

read more about recruiters “Let’s Talk About Recruiters”
Categories
Retirement

Retirement For Young and Old Lawyers: Part Eight – The Final Chapter

A view of Machu Pichu.

I’m not sure I can say there is a clean line between me as an individual and me as a lawyer.

~ Anita Hill

Retiring from the legal profession will be difficult for some of us, because too often it is not only what we do, but it is who we are. You cannot retire from who you are. 

As human beings, who we socialize with is also part of who we are. Quite unsurprisingly, William Butler Yeats said it better than I could when he wrote, “Think where man’s glory begins and ends, and say my glory was I had such friends.”

read more about the importance of having friends in retirement “Retirement For Young and Old Lawyers: Part Eight – The Final Chapter”
Categories
Retirement

Retirement For Young and Old Lawyers: Part Seven

Train Station in Dunedin, New Zealand

In Part Four I wrote about the dread that some of us experience when we contemplate the fantasy Number that we think that we have to save in order to retire.   Once I abandoned my original demented plan to work as long as it took to achieve my Number, I asked my financial planner to run one of those fancy computer programs which tells you where to take your money from to fund your lifestyle. In my case, the choices were: (a) personal savings, including my TFSA; (b) my professional corporation; and (c) my RRSP.

read more about understanding your financial philosophy “Retirement For Young and Old Lawyers: Part Seven”
Categories
Retirement

Retirement For Young and Old Lawyers: Part Six

Sign in a park in South Africa that says "Baboons are dangerous and are attracted by food."

Husband: “Green Acres is the place to be…keep Manhattan, just give me that countryside.”

Wife:  “New York is where I’d rather stay. I get allergic smelling hay. I just adore a penthouse view. Dah-ling I love you but give me Park Avenue.” 

~ Lyrics by Vic Mizzy

 My older readers will recognize the lyrics above. The young folks will have to Google them.

read more about getting on the same page with your partner about retirement “Retirement For Young and Old Lawyers: Part Six”
Categories
Retirement

Retirement For Young and Old Lawyers: Part Five

The author's back yard in the fall with trees, leaves, and red chairs.

Way back in 1997, my firm had an existential crisis when our three largest rainmakers decided to ditch private practice to chase the really big money. And of course, they all wanted their capital back. At the same time.

So, brilliant lawyer that I was, after surviving that crisis I revised our partnership agreement to limit the amount of capital that the firm could be required to pay out in any one year.

read more about planning for retirement from a legal and business perspective “Retirement For Young and Old Lawyers: Part Five”
Categories
Retirement

Retirement For Young and Old Lawyers: Part Four

Cheese shop in Amsterdam.

This is Part Four of my series on retiring from the legal profession. In the first three parts, I did not even mention “the Number.”  

We all know what the Number is.  That is the  amount of investments that you supposedly require so that you can retire.

I spent many years waiting to finally hit the Number and be able to retire.  I asked my friends about their Number. I read articles about getting to the Number. I spoke to my financial advisor about getting me to the Number. I pondered the impact of my lifestyle on achieving the Number. I obsessed about what the right Number was and when, if ever, I was going to get there.

read more about driving yourself crazy chasing the Number “Retirement For Young and Old Lawyers: Part Four”