Partner/associate ratio at law firm: what does it mean?

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seriouslyinformative
Posts: 285
Joined: Sun Jun 05, 2011 9:48 pm

Re: Partner/associate ratio at law firm: what does it mean?

Postby seriouslyinformative » Tue Jun 28, 2011 7:14 am

PKSebben wrote:
Renzo wrote:
PKSebben wrote:
seriouslyinformative wrote:
LOL nope. Just in name.


Yup.


Yeah, I see fucktons of non-equity partners on doc review.


You're a stupid fuck. When's the last time you saw an 8th year do doc review? The comparison is between a senior associate with the same skills. The bump to partner for these people is to facilitate a billing rate jump. At my firm a Senior Associate has been made non-equity partner and NOTHING CHANGED. Not even his office.


LOL CR.

oneforship
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Joined: Sat Oct 25, 2008 5:17 pm

Re: Partner/associate ratio at law firm: what does it mean?

Postby oneforship » Tue Jun 28, 2011 9:55 am

Those of you who have gone through the hiring process, is there a certain leverage ratio that you tried to stay away from, or were less enthused about, or is it something that only becomes more relevant when looking at the financial well-being of the firm, and chances of going through lay-offs at some point.

I want to know if my intuition to shy-away from higher leveraged firms compared to similar firms with lower leverage is correct, or if there is a certain point where this is probably digging in a bit too much.

*Sorry if my question is a bit unclear, kind of working through train of thought here.

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GeePee
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Re: Partner/associate ratio at law firm: what does it mean?

Postby GeePee » Tue Jun 28, 2011 10:05 am

oneforship wrote:Those of you who have gone through the hiring process, is there a certain leverage ratio that you tried to stay away from, or were less enthused about, or is it something that only becomes more relevant when looking at the financial well-being of the firm, and chances of going through lay-offs at some point.

I want to know if my intuition to shy-away from higher leveraged firms compared to similar firms with lower leverage is correct, or if there is a certain point where this is probably digging in a bit too much.

*Sorry if my question is a bit unclear, kind of working through train of thought here.

I mean, there's a trade-off: more highly-leveraged firms generally have larger summer classes, making jobs easier to come by (where do you think all of those associates come from?), whereas less leveraged firms usually have more resources to devote to mentorship/formal associate training programs and are more financially stable long-term, but their practice groups simply take in fewer associates each year. Furthermore, a large summer class size and low leverage isn't a great sign, either, because it often points to other negative factors: low offer rates, actively forcing out young associates, a culture that the vast majority of people can't handle.

So, yes, all things equal less leverage is generally a good thing, but just keep the consequences of bidding on low-leverage firms in mind.

oneforship
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Joined: Sat Oct 25, 2008 5:17 pm

Re: Partner/associate ratio at law firm: what does it mean?

Postby oneforship » Tue Jun 28, 2011 10:34 am

Makes sense, thanks.

Renzo
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Re: Partner/associate ratio at law firm: what does it mean?

Postby Renzo » Tue Jun 28, 2011 9:59 pm

PKSebben wrote:
You're a stupid fuck. When's the last time you saw an 8th year do doc review? The comparison is between a senior associate with the same skills. The bump to partner for these people is to facilitate a billing rate jump. At my firm a Senior Associate has been made non-equity partner and NOTHING CHANGED. Not even his office.


Whoa. Calm down there, boss. I see you don't deal well with hyperbole. I'll try to speak softly and slowly so as not to freak you out.

Of course nothing changed about his job with the title. Did you expect some sort of magical moment where partner knowledge came down from heaven and filled his brain? Aside from open client matter accounts, what exactly is it that a partner can do that a 8th (or at some firms 10th) year associate can't?

At every stage and every class year, lawyers fall off the treadmill. The "partner" label is a bone they throw to a fully functioning, independent lawyer to let him or her know there's still hope at the brass ring of "real" partnership. There's no reason for a firm to throw that bone to someone they don't intend to keep around.

seriouslyinformative
Posts: 285
Joined: Sun Jun 05, 2011 9:48 pm

Re: Partner/associate ratio at law firm: what does it mean?

Postby seriouslyinformative » Tue Jun 28, 2011 10:39 pm

Renzo wrote:
PKSebben wrote:
You're a stupid fuck. When's the last time you saw an 8th year do doc review? The comparison is between a senior associate with the same skills. The bump to partner for these people is to facilitate a billing rate jump. At my firm a Senior Associate has been made non-equity partner and NOTHING CHANGED. Not even his office.


Whoa. Calm down there, boss. I see you don't deal well with hyperbole. I'll try to speak softly and slowly so as not to freak you out.

Of course nothing changed about his job with the title. Did you expect some sort of magical moment where partner knowledge came down from heaven and filled his brain? Aside from open client matter accounts, what exactly is it that a partner can do that a 8th (or at some firms 10th) year associate can't?

At every stage and every class year, lawyers fall off the treadmill. The "partner" label is a bone they throw to a fully functioning, independent lawyer to let him or her know there's still hope at the brass ring of "real" partnership. There's no reason for a firm to throw that bone to someone they don't intend to keep around.


Yeah... you don't seem very bright.

Renzo
Posts: 4265
Joined: Tue Dec 02, 2008 3:23 am

Re: Partner/associate ratio at law firm: what does it mean?

Postby Renzo » Tue Jun 28, 2011 11:13 pm

seriouslyinformative wrote:
Renzo wrote:
PKSebben wrote:
You're a stupid fuck. When's the last time you saw an 8th year do doc review? The comparison is between a senior associate with the same skills. The bump to partner for these people is to facilitate a billing rate jump. At my firm a Senior Associate has been made non-equity partner and NOTHING CHANGED. Not even his office.


Whoa. Calm down there, boss. I see you don't deal well with hyperbole. I'll try to speak softly and slowly so as not to freak you out.

Of course nothing changed about his job with the title. Did you expect some sort of magical moment where partner knowledge came down from heaven and filled his brain? Aside from open client matter accounts, what exactly is it that a partner can do that a 8th (or at some firms 10th) year associate can't?

At every stage and every class year, lawyers fall off the treadmill. The "partner" label is a bone they throw to a fully functioning, independent lawyer to let him or her know there's still hope at the brass ring of "real" partnership. There's no reason for a firm to throw that bone to someone they don't intend to keep around.


Yeah... you don't seem very bright.


I know who PKSebben is. Who the fuck are you?




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