“I’m so old, I don’t buy green bananas anymore.”
~ Lou Holtz
From my 71-year-old vantage point, I have come to realize that our perspective on many issues is often affected by where we are on our journey through life.
Category: Law Firm Management
I recently met with a law firm Associate of a recent vintage, whose employment was terminated after a short tenure at her firm. She has no idea why she was fired, for the simple reason that the firm has not told her. She had received no complaints about her work and had even been given a few compliments. In the legal world, that is just about a ringing endorsement.
“Prepare the clone army!”
~ Dr. Evil
Back before today’s young lawyers were born, law firms and new lawyers had an unwritten social contract.
Firms were prepared not to make much money on newcomers. They made an investment to mentor, supervise, and train them. If the firm was lucky, it could cover its costs in the first year, and start making a profit in subsequent years. The new lawyers knew that they would have to put in some time before they could earn the big bucks, but if they hung in, a partnership would be offered within a reasonable time frame.
I am going to tell you a story that was told to me by a law firm partner who cannot risk telling it herself.
Somewhere in the world of Common Law, a rainmaker partner in a huge firm did dreadful things and was pushed out. A scandal ensued. The details were sketchy. Among those trying to figure out exactly what happened were hundreds of the partners of the now disgraced lawyer.
Those of you who read my stuff know that I am not the world’s biggest fan of law firms who address mental health issues by offering pizza and yoga classes, while refusing to acknowledge that the principal cause of their people’s suffering is overwork.
Categories
Show Me The Money
For smart people, when it comes to getting paid, lawyers can be stupid.
You don’t get to insult my intelligence and depend on it at the same time.
~ Rachel Wasserman
Imagine that you could bake up a bunch of perfect gingerbread cookies in the shape of a lawyer wearing a suit and holding a briefcase, and then say a few magic words and breathe life into them. They would then jump off of the cookie sheet and immediately start billing hours. I bet that there is at least one law firm Managing Partner who has fantasized about how great it would be if all of their Associates just fit the cookie-cutter mould that the firm wants, did what they were told, did not try to disrupt the system, and never complained.
Categories
Poison Darts
My friend Peter was an accountant. He told me that at his partners meetings there were partners who worked hard to build the firm for the benefit of all. Then there were others who stayed mostly quiet and out of sight, but every so often rose silently and blew a poison dart into the discussion before slinking away. Those outside of the firm would never have guessed at the internal dysfunction.
Categories
Whose Client is it Anyway?
The people who make the most money in law firms are not necessarily the smartest lawyers, or the most strategic lawyers, or even the highest billing lawyers. It’s the lawyers who bring in clients who rake in the largest slice of the profit pie. We call these people the “client lawyers.”
Back in the old days when law school cost very little and you could rent an apartment in Toronto for a reasonable amount, law firms hired newly qualified lawyers at modest salaries and gave them simple assignments. The firms also provided mentoring and training, so that the juniors could learn to do more challenging work. Firms neither made much money on the newbies, nor did they pay the newbies much. The pay-off came after a few years as the lawyers gained experience and could bill enough to earn their keep.