Billing Rates Rise, Discounts Abound
In an article for the National Law Journal, McCormick Group Managing Principal Steve Nelson weighs in on the rising billable rates and alternative fee structures. […]
TMG’s Take…on Lateral Partner Recruiting
The McCormick Group held its inaugural Washington Lateral Partner Recruiting Roundtable last month. Following a format that we first introduced in Boston in 2013, we moderated a free-flowing discussion where representatives of 15 firms shared ideas and best practices. [...]
TMG’s Take…….on the Value of Lateral Partner Hiring
The Wall Street Journal recently jumped into the controversy over lateral partner hiring, saying that whether or not such gambles pay off “is an open question”. […]
TMG’s Take…on 6 Quick Ways to Ruin Your Brand
By now we’ve all read that the job market is turning around. We’re noting that most Boomers really will retire – sooner rather than later – and law firms will have to contend with the skill gap. This means the competition for [...]
TMG’s Take…on Institutionalizing Clients
A recent article published in the Law Firm Partnership & Benefits Report contains a provocative criticism of the rainmaker star approach that many law firms espouse, or at least implicitly accept. […]
D.C. Law Firms Lag Behind the ‘Super Rich’ from New York
Stephen Nelson's recent TMG's Take on 2013's Financial Reports for Law Firms is referenced in the National Law Journal "D.C. Law Firms Lag Behind the 'Super Rich' from New York".
Wave of CMO Hires in Law Firms
Steve Nelson was quoted in The American Lawyer as to why a variety of firms are currently looking for top marketing talent.
TMG’s Take…on Lateral Partner Questionnaires
Even in today’s difficult economy, law firms are still bringing in lateral partners, and partners are still changing firms. A key component in the lateral partner hiring process is the lateral partner questionnaire, or LPQ as its termed in today’s [...]
Law Firms Expand Horizons in Finding Professional Development Executives
While talking to a law firm managing partner about a particular candidate for a director of professional development position, I was surprised to hear that the firm preferred to hire a lawyer for that job. In my 15 years following [...]
TMG’s Take…on The “Crisis” Facing Big Law
Earlier this month, Business Week jumped on the “law firms must adapt or die” bandwagon. This follows a story concerning the so-called travails of Mayer Brown in the New Republic with the patently ridiculous title, “The Last Days of Big [...]