Small Law Firms: Is the Grass Really Greener?

Small Law Firms: Is the Grass Really Greener

As super-big law firms suffer through the recession, many midsize and small firms are thriving. Back in June, we discussed these firms as a viable alternative to Biglaw. (A number of smaller firms -- e.g., Stone & Magnanini, Silver Golub & Teitell, and McKool Smith -- are even hiring, with the help of job postings on Above the Law.)

But are smaller firms all they're cracked up to be? We try to present both sides of the story. Check out this letter, from the ATL mailbag:

I'm an Ivy League law grad with a couple of years in big law. I got laid off and eventually found a job at a smaller firm. Like, way smaller. Unsurprisingly, I know a couple of people to whom this has happened (and a couple who haven't found jobs as well, of course).

The commonly held wisdom is that the trade off in big law is money for your time and soul, while smaller firms pay less, but ask less. I'm not finding this to be really true, and neither are my friends.

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The Hours Follow-Up: If you're looking at less than 1600 in 2009, you're not alone.

The Hours Follow-Up: If you're looking at less than 1600 in 2009, you're not alone.

Monday, August 31, 2009 1:12 PM - By Kashmir Hill

Many of our Biglaw friends have been biting their nails over hours this year. Lawyers are not worried about making bonuses at the end of the year. They're worried about keeping their jobs. Last week, we invited you to share your hours' outlook for 2009 and to see how you compare with fellow anonymous ATL readers.

One astute commenter pointed out:

Has it dawned on anyone that people billing solid hours aren't taking the time to take ATL surveys?

This survey will be less reliable than my balls.

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A Fish Out of Austin: Fish & Richardson Closes Austin Office

A Fish Out of Austin: Fish & Richardson Closes Austin Office

As a New Yorker, people often tell me that Austin is "the oasis of Texas." I think they mean that Austin is a culturally progressive blue city in middle of a red state.

I hope they don't mean that Austin is a great place to practice law.

On Friday, Fish & Richardson announced plans to close its Austin office. This marks the second major law firm to get out of Austin this summer. Weil Gotshal has already announced plans to close its Austin office.

The Austin Business Journal described the importance of Fish & Richardson to the local legal market:

Fish, which opened its Austin office in 2005, currently has 28 attorneys and a total staff of approximately 68 locally. A spokeswoman in the firm's Boston headquarters confirmed the firm will close the office on Dec. 31.

According to Austin Business Journal research, Fish & Richardson is the 16th largest law firm operating in the city, ranked by number of attorneys. Fish reported firmwide revenue of $420 million in 2008. Some of the firm's clients include Microsoft Corp., Google and Freescale Semiconductor Inc.

Are Austinites ready to make the move to "regular Texas"?

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Nationwide No Offer Watch: Look to the Left, Look to the Right, One of You Will Not Be Working At Cadwalader

Nationwide No Offer Watch: Look to the Left, Look to the Right, One of You Will Not Be Working At Cadwalader

Late last week, offer calls went out to those who summered at Cadwalader. We now have the firm wide offer rates. Compared to some other firms, it's really not so bad.

Here is the information from a firm spokesperson:

Cadwalader made offers to approximately two thirds of our 2009 Summer Associate Class.

Cadwalader went through its layoffs early and often. People who summered at CWT had to know that the firm isn't one to defer associates. Instead, Cadwalader recently asked some of its laid off associates to comeback ... as contract attorneys.

Given all of that history, a 66% offer rate seems pretty good. In fact, even some of the CWT summers that were no offered didn't sound too angry about the situation. One no offered summer described it this way:

The hiring partner was very nice about it, and offered to serve as a reference when I pursue other jobs, and I was repeatedly told that it was for purely economic reasons ... I was upset, but I understand what the economy's like right now, and I'll be ok, may just take a while.

Things could be worse. Good luck with 3L recruiting, CWT friends.

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