Monday, September 20, 2010

MPF E-Newsletter - September 2010

We just published and distributed our September Newsletter. Click here to see a copy.

If you like what you see, visit the MPF Website. It includes a growing library of over 100 articles, surveys, White Papers and other resources for law firm leaders.

Monday, September 13, 2010

Two New Surveys about Life as an Associate Attorney - Compensation and Career Satisfaction Are Not What They Used to Be

We just posted two new articles to the MPF website about life as an associate attorney in a big law firm.....and things do not appear as rosy as they were just a few short years ago.

The first article - "Associate Salary Figures in a Holding Pattern" - summarizes a NALP (National Association of Law Placement) survey about starting salaries for first-year associates. They have leveled off over the past two years, hovering at around $115,000, says NALP. That's down sharply from $130,000 in 2008.

The second article - "They Survived the Economic Downturn, but Now What?" - appeared recently in The American Lawyer and reports that mid-level associates at AmLaw 200 firms are not happy campers these days. Stagnant salaries, reduced benefits, heavier workloads and poor career development programs are to blame. The article reports that the number looking for new jobs has doubled in the past year, with half seeking a better "work/life balance."

I don't know about you but I, personally, don't have too much sympathy for first-year associates having to squeak by on $115,000 per year in today's economy.

Wednesday, September 8, 2010

In-house Counsel Reveal Growing and Slowing Practice Areas

In the aforementioned article entitled "What's Really On In Today's Legal Departments," in-house counsel say that the following practice areas grew most in volume in 2009-10:

1. Corporate Governance
2. Labor and Employment
3. Litigation
4. Regulatory and Administrative Law
5. Intellectual Property

The practice areas that are slowing down?

1. Antitrust
2. Environmental
3. Securities and Corporate Finance
4. Mergers and Acquisitions
5. International Law

Click here to see the full article.

Tuesday, September 7, 2010

Some Really Good News for Smaller and Mid-sized Law Firms

Inside Counsel, a glossy magazine that provides "business insights for law department leaders," recently published an article entitled "What's Really Going On In Today's Legal Departments." It highlights results of the magazine's 2010 survey of in-house counsel, and I'm pleased to report that it contains good news for smaller and mid-size law firms.

According to the survey of some 550 in-house lawyers, 65% say they have given more work to smaller firms in 2010 than 2009. The reason, in most cases, is price as over 90% say they are feeling pressure to reduce legal fees.

But there is even better news. Many in-house counsel want to stick with smaller firms, even after economy improves. Why? Quality and service.

Finally, a legitimate survey suggesting that smaller law firms provide better quality, better service and better value than than big law firms.

Click here for the article.