Sentences with phrase «rainmaker partners»

I could see a metropolis - hinterland kind of effect, where firms put the rainmaker partners in downtown offices, and farm «the work» out to less expensive premises.

And the downward spiral continued as unhinged greed and domination by rainmaker partners led to the fall of Dewey & LeBoeuf, which Harper devotes a chapter to here.

Not exact matches

Despite his comments about representing «little people,» Silver was hired as of counsel at the firm Weitz & Luxenberg to bring «prestige» — as one of the name partners put it in testimony during the trial — and he acted primarily as a so - called rainmaker, bringing in lucrative referrals for mesothelioma cases, which paid him a portion of the proceeds from any judgment or settlement.

One powerful partner (especially a significant rainmaker) can obstruct any change that the managing partner wishes to make, if that partner thinks it will negatively impact his or her practice or income.

Ensure that senior or influential lawyers lead by example — you need champions (a managing partner, a practice group leader, a rising rainmaker) who consistently produce articles for a newsletter or posts for a blog to set the tone (and create expectations) for others.

For social media to really catch on within a firm, there has to be clear buy - in from the top — not just from the managing partner, but to the extent possible, from senior rainmakers and other influencers.

Plus, it might be a good way to groom associates for partner by giving them an opportunity to lead without having to be rainmakers at the same time.»

If rainmakers will talk to their colleagues about the shift and service partners spend their energy focused on identifying and measuring where the best opportunities for efficiencies exist, implementation is what remains.

According to Dr. Larry Richard, who has examined thousands of lawyers with the Caliper test, «low sociability scores have broad implications for many aspect of law firm management — mentoring, teamwork,..., and rainmaking... rainmakers scored nearly three and a half times higher on Sociability than service partners!»

My most dramatic experience was helping a firm whose charismatic managing partner and chief rainmaker had suddenly become a quadriplegic as a result of a body surfing accident.

They're doing what a talented law firm rainmaker or relationship partner is supposed to be doing, if only they had the time.»

They're doing what a talented law firm rainmaker or relationship partner is supposed to be doing,

In firms in which hourly rates are much higher for such work as labor or corporate transactional work, the firm may have the luxury of highly compensating partners who are primarily rainmakers.

Compensation solely favoring rainmakers creates dissatisfaction and turnover by partners who are actually handling the work and producing the results.

This blawg discusses all levels of law firm lawyer compensation, from associates to service partners, to rainmakers, to lawyer - managers, and senior lawyers who are phasing down in preparation for retirement.

Sara J. Shanahan, partner in the firm's Litigation Department, attended the Women Rainmakers Alumni Conference in Paradise Valley, Arizona on Thursday, February 1 and Friday, February 2, 2018.

As I have written previously, «rainmaker» partners are increasingly irrelevant in an industry where clients are under greater cost pressures and more actively rely on procurement to source legal work.

To meet a swelling demand for their services, firms had gone on spending sprees, bringing in so - called «rainmakers» (partners with a knack for luring clients), hiring new associates, investing in technology and expanding not only into larger offices but also into other cities.

Those who make the cut frequently get three years (sometimes with training) to become a rainmaker for consideration as an equity partner.

I consider partners who are the rainmakers to be special situations, where firm history, firm culture, and local conditions constitute that partner's theory of compensation.

Rainmakers will also be suitably rewarded by the delegation of work, if the billable hours are collected, since it will take full advantage of leverage, likely at lesser billable rates, and directly fulfill a number of other compensation criteria, i.e., partner and associate utilization, monitoring and training younger members of the firm and compliance with firm policies and initiatives.

My own guess is that «worker bee» partners who aren't really rainmakers benefit most from a move in - house: Not only are they freed from the task of bringing in business but, presumably, they earned less than their breadwinning colleagues at the law firm.

I've personally seen law firms where the partners» salaries were cut, nearly across the board, with the sole exceptions of those who had reputations as the firm's rainmakers.

Marketing is carried out by one group of people (generally «non-lawyer» professionals) and sales by another (lawyers, usually partners or «rainmakers»).

The associates and partners who may leave — well, they are not rainmakers; that's why the LPO business is so lucrative.

Depending upon each partner's experience for marketing the firm's expertise to existing and potential clients, how practical is it to expect every partner to be an effective «rainmaker»?

Recruiting and retaining top - quality rainmakers, as well as those myriad and influential attorneys who possess critical expertise in today's «hot» practice areas, are two of the most critical challenges confronting managing partners and executive committees in today's competitive environment.

Whether you can make a service partner into a rainmaker is a relevant question firms should ask, as well as being mindful of these attributes in associate hiring.

Lawyer Metrics, a U.S. consulting firm, compared the personality and behaviour traits of 300 rainmakers and client service partners at top American law firms using lawyer performance and personality assessment data and interviews.

His research found that rainmakers scored nearly three and a half times higher on sociability than service partners.

Dr. Richard looked at the difference between rainmakers, those lawyers in the top echelon in terms of developing new business, and service partners, those in the bottom echelon for developing new business but still highly reputed as lawyers.

Using two different assessment tools — Achievement Motivation Inventory and the Management Development Questionnaire — it found four key traits that set rainmakers apart from client service partners.

Dewey is hewing to a strategy its management has used for years: annually pruning less - productive partners and paying top dollar to bring in star rainmakers, as this story in The American Lawyer reported in 2009.

For example, minority lawyers are expected to be rainmakers: there are virtually none in the ranks of the service partners at most firms.

Indeed, «rainmakers» are so rare that when a partner left one large New York law firm for another in January, American Lawyer headlined the lawyer's knack for generating new files before mentioning where she was moving.

For example, many Partnerships have a small segment of good rainmakers, a majority of decent rainmakers, and a small subset who are good lawyers but can not make rain under the easiest of circumstances (for any number of valid reasons; these are not necessarily «bad» or «lazy» Partners).

She practiced law for 30 years, 25 as a partner, deal lawyer, and rainmaker at Edwards Angell Palmer & Dodge (now Locke Lord Edwards).

We call these partners «rainmakers,» which is a lovely word, about as close to poetry as most lawyers get.

Not just the formal leadership of managing partners and practice group leaders, but the informal leadership of heavyweight rainmakers and political players inside a firm.

While exceptional American firms such as Cleary Gottlieb Steen & Hamilton and Debevoise & Plimpton still use the relatively inflexible lockstep model, the bulk of US - based businesses can lure partner recruits or retain rainmakers by elevating them in the pay ranks and deal appropriately with less profitable partners by limiting what they earn.

Sometime after you learn the secret handshake and get the keys to the executive washroom, many new partners find themselves faced with an uncomfortable new role — rainmaker.

As discussed below under the subject of Staffing, watch out, for example, for the law firm that baits the client in the selection process with a well - known rainmaker (like a former politician or judge who is now a law firm partner) then switches, once the client signs up, to lawyers the client has never met.

Some partners or rainmakers may move to get better compensation.

A successful legal rainmaker and former managing partner, Gerry Riskin describes the steps necessary for legal marketers to build the case for change and to take the lead in driving a firm's transformation.

Recognizing Rainmakers — Identifying the people, partners, departments, and / or freelancers who are bringing in business to equitably allocate compensation.

We've all read about large firms gobbling up smaller ones, groups of partners defecting to another firm or even single rainmakers switching firms.

The highest profits per partner on The American Lawyer «s Am Law 100 rankings in 2015 came in at $ 6.6 m (# 5.3 m) at Wachtell Lipton Rosen & Katz, while the rainmakers and leaders at a select few firms can make at least twice that.