2020 Amlaw 100

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Re: 2020 Amlaw 100

Post by Anonymous User » Thu May 21, 2020 4:28 pm

Why don't firms like Fried Frank and Ropes get more love? Both have great profits per partner, revenue per lawyer, profits per lawyer, and profit margin. Both make more per attorney than many much more "prestigious firms" like Weil and Paul Weiss.

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Re: 2020 Amlaw 100

Post by nscheiber » Thu May 21, 2020 4:31 pm

I'm a reporter with the New York Times working on a story about salary cuts and layoffs at big law firms. I'm trying to speak with people who've been in the unfortunate position of dealing with this stuff at their firms. Sorry to hear about the stealth layoffs at Goodwin. Please feel free to reach out to me at noamscheiber@gmail.com if this is something you might be willing to discuss. I can ensure confidentiality. Here's a story of mine about Big Law from last year FWIW: https://www.nytimes.com/2019/01/27/us/p ... -firm.html Best, Noam Scheiber

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Sackboy

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Re: 2020 Amlaw 100

Post by Sackboy » Thu May 21, 2020 5:31 pm

Anonymous User wrote:
Thu May 21, 2020 4:28 pm
Why don't firms like Fried Frank and Ropes get more love? Both have great profits per partner, revenue per lawyer, profits per lawyer, and profit margin. Both make more per attorney than many much more "prestigious firms" like Weil and Paul Weiss.
Fried Frank likely suffers a lot in terms of preftige due to having a very small footprint geographically (4 offices, compared to 8 at PW and 15 at Weil), very low revenue ($780M, compared to $1.3B at PW and $1.4B at Weil), and a failure to have truly marquee practices in hot areas (have an elite but not tippy-top M&A practice, a great RE-Dirt practice, and OK lit/tax practices compared to (1) PW's excellent litigation, even more elite M&A, great BK/IP/Tax and (2) Weil's top nationwide BK, even more elite M&A, and great litigation/tax).

Ropes is everywhere and has much higher revenue, but it faced non-NY HQ bias problems and is generally mediocre (relative to top firms) at a lot of things except PE/Investment Funds (only one of which is really considered sexy).

Ropes gets plenty of love from Boston people and is V #20, so I don't quite agree with you in terms of popularity. Normally, though, prestige revolves around NY, and if you can land ropes you can land an actual NY HQ firm around the same place in Vault, so it doesn't get talked about much here; this is pretty much the same reason why Sidley NY isn't really talked about much despite being V #12. Why take Sidley when you could land at Weil or PW and have much better prestige in NY? Sidley is talked about on here more than Ropes as a destination just because Chicago > Boston in legal market size.

Preftige isn't everything, though.

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