Biglaw leverage increasing yearly - ABA: "It's because everyone's going in house
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Date: April 25th, 2018 10:30 AM Author: elite coiffed principal's office ratface
what a fucking farce
"The percentage of partners at the nation’s largest law firms is slowly but steadily declining. The percentage of partners at the largest U.S. firms dropped from 42.2 percent of the lawyer headcount in 2013 to 40.8 percent at the end of 2017, Law360 reports.
"Peter Johnson of Law Practice Consultants identified another trend that could be affecting the percentages: More people are going to corporate law departments"
http://www.abajournal.com/news/article/partner_percentages_continue_to_decline_in_biglaw
(http://www.autoadmit.com/thread.php?thread_id=3959354&forum_id=2#35915850) |
Date: April 26th, 2018 7:25 AM Author: Maize Field
what's the counter argument? law firms just being stingy as usual + boomers not retiring?
what happens in law industry/biglaw when boomers start dying off and junior partnership people must take over despite each non-boomer class making 75% fewer new partners each year as compared to earlier boomer classes?
(http://www.autoadmit.com/thread.php?thread_id=3959354&forum_id=2#35923047) |
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Date: April 27th, 2018 7:59 AM Author: talented unhinged feces
It's about *short-run* maximizing PPP; open question whether this is long-run profit maximizing. If the trend continues far enough long enough, the basic model of the V100 will come into question. There's a tacit promise made to new entrants, particularly coming from the T14, that there's at least a chance to obtain meaningful partnership in the firm. When you look at some of the leverage ratios at top firms these days, it's hard to say with a straight face that that chance still exists for many. Which then calls into question the entire "bargain" of the associate-firm relationship. Maybe the senior leadership of these starships everywhere, burning. I screamed twice as I watched the sky fill with the flames of our engineered progress; once for the loss of the Titanus, and again for the thought of Mishka onboard her, plummeting toward the landscape of Aurelianus V. Scattershot reports of turbolaser fire echoed through the canyon where we were stationed, violent accompaniment to this altitudinous death scene. The memory swirled up in me, strains of recollection brought on by the shock: Orfeo ed Euridice, the first performance, a Night Palace on one of the Jovian moons. She was wearing her multicoat, its everchanging light softtwinkling against the reflective surface of our box floating above the stage, her hand in mind, the swirlsweet smell of her Chanel No. 5 wafting through the air.
(http://www.autoadmit.com/thread.php?thread_id=3959354&forum_id=2#35930046) |
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