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Learn from legal expert, Harrison Barnes
Don’t just take it from us
Summary: Others see it more as a sort of cult or sect. Many lawyers turn to religion in time of need—need of clients, that is.
United Parcel Service once ran a television commercial showcasing a number of its employees contending for medals at the Olympics. Don’t expect The Firm to do the same. Most lawyers would not have much of a chance of winning any medals in the Olympics.
Summary: Once lawyers achieve a certain prominence (either in the legal community or in their own minds), they can use the telephone to emphasize this point.
Summary: Because they don't spend much time at home, a lawyer's office is a lawyer's castle—or cottage, as the case may be
Summary: The law is, by far, the most common profession among state legislators and members of Congress.
Delve into the intricacies of law firm titles with this comprehensive guide that explores the roles of Associate, Of Counsel, and Partner. Gain insights into the responsibilities, career paths, and distinguishing factors of each title, empowering both aspiring lawyers and seasoned professionals to navigate their legal careers with clarity and confidence.
Summary: Before going any further, associates reading this column should take a moment to clean up the coffee they may have spit out while reading the previous paragraph. Partners should stop considering the possibility of reinstating this policy. That was a long time ago and most of today's associates would be less than receptive to the idea of working at The Firm for free.
Summary: The environment created by a law firm will determine how successful its attorneys can be. This affects how successful the law firm will be.
Summary: Simply showing your appreciation for your associates can save your firm thousands of dollars in the long run.
Summary: Law firms and other legal employers who allow employees to utilize flexible schedules and telecommuting often enjoy more productivity and less turnover.
Summary: Need guidance in conducting associate performance reviews? Learn more about various aspects of conducting these reviews by following these tips.
Law firms that take a short-term view on talent during an economic downturn will find themselves paying the price. Rather than a cutting-back period, the breather afforded by a slowdown in work is a good time to redouble efforts on a review of the firm’s recruiting policies and practices, and its approach to professional development.
Although, for some, it seems a long way off, most of us recall the booming legal market in late 2007/early 2008 as a time when associates and partners could move from firm to firm with relative ease, and were able to negotiate salaries, bonuses and start dates with much more flexibility than in recent years. This was certainly a "buyers' market," which strongly favored attorneys over law firms and which required firms to act and often negotiate quickly in order to secure the best and brightest attorneys.
There are as many variations of partner compensation plans as there are law firms. Most are well intended and targeted at rewarding those efforts that the firm values, or thinks it should value, most.
While there is a general degree of consistency in the entry-level hiring process for law firms, which you likely experienced during the annual on-campus interview process at your law school, the interview process for lateral hires has continued to change over the past two decades, and has generally become less standard as time goes by due to firms experimenting with a variety of interview procedures, evaluations, and techniques designed (presumably) to ensure the best hiring and retention processes to build their business.
Eliminate Lock-Step Model and Reward Performance, Not Time Served Beginning at the end of 1999, law firms began accelerating the rate at which they increased associate compensation. This trend literally moved at “Internet speed:” within three months, associates nationwide were deemed to be worth substantially more than they had been when hired, sometimes only a few months earlier.
When considering and, specifically, the nature of marketing legal services in the future, the best guide is empirical data of two kinds: (1) law-specific data combined with (2) information from the mature unregulated service professions.
Were most of your partners satisfied when the firm allocated remaining profits last year?
Many of the practices that lead to successful lateral hiring are basic common sense. In many instances, however, BCG Attorney Search has found firms mistakenly adhering to a number of practices that seriously undermine the success of their lateral hires. These include: