Bryce Legal Career Counsel’s Post

The rapid growth of nonequity partners at major law firms is reshaping career paths for attorneys. While this trend offers more flexibility and opportunities, it also brings unique challenges. Carol Morganstern shares essential tips for nonequity partners to succeed with Law360 Pulse. https://bit.ly/40c07OE #mlaglobal #partners #careeradvice

My colleague Carol Morganstern shares essential tips for nonequity partners to succeed and the importance of business development. There are a variety of strategies for developing business. What works for you?

With the rise in the number of #nonequitypartners at #biglawfirms, the definition of #counsel is changing. At some firms it is being phased out. At other firms, those with a single tier of partners, it is the equivalent of #nonequitypartner at other firms. And yet at other, it is a role reserved for those attorneys important to the firm, but not on partnership track. How is your firm using the #counsel title?

Texas Corporate Lawyers As you tread the path of corporate complexities, rest assured that our Corporate Practice serves as your compass, steering you with precision and expertise. To know more, Contact us 📞 +1 214-785-1390 📧 [email protected] 📍 14850 Quorum Drive, Suite 210, Dallas, TX 75254 🌐 https://lnkd.in/eksDqNGg #corporatelawyer #CorporateLaw #corporatelawfirm #lawfirm #texaslaw #texaslawyer #dallaslawyer #mystartuplawyer

Is this the start of a new trend in the Boston legal market? After a well-known law firm recently experienced a significant loss of over 40% of its attorney headcount, many are wondering what this could mean for the industry as a whole. Jennifer Breslow Moss joins the conversation with Law360 Pulse. https://bit.ly/4bsxTBc #mlaglobal #jobmarket #lawfirms #legalcommunity

Law firms know that communication breakdowns cost time and money. Casetracks bridges the gap by offering a single platform for secure, streamlined communication and file sharing between attorneys, paralegals, and support staff. The result? Faster decisions, better collaboration, and more efficient client service. Our clients have seen the difference. Ready to see the results for yourself? #LegalEfficiency #casetracks #LawFirmCollaboration #LawFirmTech #LegalSuccess

The landscape of law firm partnerships is evolving. Instead of promoting lawyers to the equity ranks or retaining them as associates or counsel, there's a significant shift towards creating more salaried partners. Here's what this means: 💡 The Shift: Over 49% of partners at Am Law 100 firms are now nonequity partners, and their ranks have rapidly increased. These lawyers enjoy partner titles and benefits but don't share in the firm's profits or losses. 💡 Implications for Firms: This shift can impact leverage, profits, and firm culture. Firms like Gibson Dunn, Fried Frank, Vinson & Elkins, Willkie Farr and others are expanding their nonequity tiers, with last year's growth in nonequity partners surpassing that of associates and counsel. 💡 Challenges: Law firms face challenges with the increasing number of nonequity partners, including ensuring they generate enough revenue to justify their compensation and managing their career growth and expectations. This shift can also impact firm culture and loyalty, potentially creating a divide between equity and nonequity partners. Additionally, firms must balance promoting partners to equity status with maintaining overall profitability and cohesion. Needless to say, it will be interesting to see how this trend plays out over the next 5-10 years. #LegalRecruiting #BigLaw #NonequityPartners #LawFirmStrategy #AmLaw100 #LegalIndustry #LawFirmCulture

In 2023, clients increasingly sought more flexible and tailored legal services, driven by rising costs and a growing demand for personalized attention. As a result, midsize firms have seen growth, while larger firms face a decline in demand. At Caldwell, we are positioned to meet these evolving client needs. By offering competitive pricing and utilizing cutting-edge legal tech, we deliver the personalized and efficient service that today’s clients expect. As the market continues to shift, adaptability and client-focused strategies will be key to success in 2024 and beyond. Written by Marcus Wolter, Elizabeth Bestwick and Crystel Saraie. 🔗: https://lnkd.in/g7AcQs4B #LegalIndustry #ClientService #LawFirmTrends #CaldwellLaw #LegalTech #BusinessGrowth

📣 Major Moves in the Texas Legal Scene! 📣 As of yesterday, big law firms announced major partner moves in their Houston offices. Greenberg Traurig and Dentons have strategically bolstered their Houston offices with prominent partner hires from Big Law, significantly enhancing their regional capabilities and influence. Meanwhile, Akin has invigorated its Houston Capital Markets practice by bringing on board a highly experienced partner from Kirkland. This exciting addition is set to elevate their expertise and expand their service offerings. Curious about the impact of these moves on the market? Considering a career move to Houston or Texas? Reach out today! #LegalRecruitment #TexasLaw #HoustonLegalNews 

Once upon a time, large law firms had a single tier of partners. Non-equity partners were not a thing. Now, non-equity partners at large firms are so common that The American Lawyer publishes articles about the holdouts that have two-tiered partnerships. Non-equity partners serve a purpose; making someone a partner makes it easier for them to build a book of business. So, it’s especially appropriate for lawyers who have graduated out of the ranks of senior associates. But too many firms, especially mid-sized and boutique firms, are falling into the trap that non-equity partners are a requirement. Single-tiered partners can have important advantages, and they are especially on-point when you are looking to add experienced lawyers with managerial abilities and other hallmarks of good business owners. How many tiers of partners to have is an important strategic decision. It should make sense for your firm, don’t just follow the media coverage. https://lnkd.in/g8ifEmAA #LawFirm #EquityPartnerships #LegalIndustry #LawFirmManagement #TalentRetention #Lawyers #LegalCareers #ManagingPartner