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Presentation to the Association of Pro Bono Counsel

Presentation to the Association of Pro Bono Counsel. Timothy B. Corcoran Pamela Woldow, Esq. Altman Weil, Inc. October 15, 2009. 2010. The rules have changed…. … but have the R.U.L.E.S.?. What are the R.U.L.E.S.?. R ealization of billing rates U tilization of lawyer time

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Presentation to the Association of Pro Bono Counsel

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  1. Presentation to the Association of Pro Bono Counsel Timothy B. Corcoran Pamela Woldow, Esq. Altman Weil, Inc. October 15, 2009

  2. 2010

  3. The rules have changed…

  4. … but have the R.U.L.E.S.?

  5. What are the R.U.L.E.S.? • Realization of billing rates • Utilization of lawyer time • Leverage of lawyers • Expense control • Speed of billing and collections

  6. But what if the clients just say no?

  7. No 25.2% Yes 74.8% Is your law department facing budget cuts in 2009? Altman Weil CLO Survey, 2009

  8. Newsletters 1.6% Improved Project Staffing 2.8% 3.7% Partnering Satisfaction Surveys 3.7% Social Events 4.1% Technology 4.5% Responsiveness None! 5.7% 8.1% Training / CLE Fees / Billing 13.8% Communication 18.3% None 39.4% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% What steps have outside counsel taken to improve the working relationship with your Law Department? Altman Weil CLO Survey, 2009

  9. The New Math • Profits = Revenue less Expenses • COGS must be lower • Predictability improves retention • Responsiveness improves retention • Retention reduces COS

  10. Alternative Fee Arrangements • It’s not just about discounts • Predictability vs. uncertainty • Experience reduces risk • Alters how matters are staffed and managed

  11. 2009 The Big Squeeze Presented by Pamela Woldow, Esq.

  12. Holland & Knight Akerman Senterfitt Ruden McClosky Greenberg Traurig Alston & Bird Troutman Sanders Howard Rice Nemerovski Allen Matkins Blank Rome Schnader Harrison Perkins Coie Nixon Peabody Buchanan Ingersoll DLA Piper Dorsey & Whitney Drinker Biddle Howrey Kaye Scholer Kilpatrick Stockton Pillsbury Winthrop Snell & Wilmer Venable King & Spalding Seyfarth Shaw Associate Salaries Cut 10 – 30%

  13. Bye Bye Lockstep! • Orrick • Bingham McCutchen • Squire Sanders • Howrey • Dorsey & Whitney • Townsend and Townsend and Crew • McKenna Long

  14. The New Normal • It doesn’t make sense to us that everybody gets an increase just because they were alive and were here and practicing for many years. Jeff Haidet, Chairman, McKenna Long

  15. Self Actualization Esteem Belonging Safety & Security Survival Maslow’s Triangle

  16. Pro-Activity Plan • A Seat at the Table • Be Prepared • Speak the Language • Match Needs Now

  17. Hard Message Inexpensive training Experience = higher rates Faster ROI Enhance client trust RFPs Soft Message We have commitments Helps community Non-profs “hard hit” Societal value Good for recruitment Firm culture The Scrooge Effect

  18. Win-Win-Win-Win-Win • Flexibility for ups & downs • Effective & least expensive training for associates • Value for clients • Expedited ROI for firm ------------------------------------------------- • Enhance reputation, help community

  19. References • 2009 NALP Associate Salary Survey • But We Just Reviewed Our Lockstep Six Months Ago!? AdamSmithEsq, 7.31.09 • Bingham Announces New Pay System, Law360,10.6.09 • Orrick Gives the Boot to Lockstep-Associate Model, blogs.wsj.com/law, 7.1.09 • Salary models at many major law firms changing, www.finance-commerce.com, 10.5.09

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