Anonymous User wrote:
Anonymous User wrote:
I am currently a partner at a plaintiff's firm (think RGRD, Lieff, Sussman, Labaton), and was formerly at BigLaw (think Gibson Dunn, OMM, Latham, Paul Hastings), and did a stint as an AUSA for a while before joining a plaintiff's firm.
If you have questions, I'd be happy to share insights on what it's like to work at a plaintiff's firm vis-a-vis biglaw, and how to get a job at either place. Just post and I'll be here for the rest of the week or so.
No flames please. Just trying to be helpful.
Thank you for taking questions.
What is the PPP like at your (or other) top plaintiffs' firms? Curious as to how it compares to Vault 50 PPP. Due to the nature of the work, do some partners take home much more than others?
Big firms rely on institutional clients for the majority of their work, but plaintiffs' firms require a study influx of new, often one-time clients. How does the firm market to or find clients?
Plaintiff's firms don't really use PPP -- at least not in the way that BigLaw does. Profits at plaintiff's firms will vary great from year to year that it is almost impossible to quantify. I can tell you that from speaking with folks at my place and other partners at similar firms (e.g. those at major, coastal metro cities), jr. will make anywhere between 250k to 350k plus profits and sr. will be 400k+ with profits. But that can vary greatly.
At our firm, profits are shared equally. Just because you settle a case for 600M and get a fees award of (for example) 60M doesn't mean you necessarily get a bigger bonus that year. It just means everyone at the firm (from the mail clerk to the legal assistants to the associates to the partners) all get a nice cut. It's pretty egalitarian in that respect.
Contrary to popular belief, a serious plaintiff's firm's bread-and-butter client roster will be compromised mostly of institutional clients -- e.g. pension funds, VCs, unions, mutual funds, etc. Run far far away from plaintiff's firm that rely solely on individuals. Of course every plaintiff's firm will have their stock of cases headed by a sole plaintiff, but they better have a lock-stock stable of institutional investors if they want to be stable long-term.