MH Article.pdf
It is no secret that the economy has hit a big speed bump and some of the biggest law firms have taken some of the biggest hits in the industry. Many attorneys at megafirms have recently found themselves without much business, without a job, or even suddenly without a firm. Moving to a mid-size firm that can support your practice can be an excellent career move; it is not, by definition, a significant salary reduction for a productive attorney. Mid-size firms have several compelling characteristics that can make a move from mega- to mid-size a "step out" rather than a "step down."
If you practice in an area that is not mission-critical to your big firm, or if you want the flexibility to explore and expand into other areas, a mid-size firm can be an ideal platform from which to do it. Mega-firms get to be mega because they offer big clients big services - especially litigation - for big fees (which support big overhead and big first-year associate salaries). Specialized practices that do not require armies of attorneys are often not of interest to big firm management. Mid-size firms, by contrast, generally are not full service, and frequently offer a narrower range of targeted practice areas. A practice that may be sidelined or even spun off by a big firm, for example, employment, health care or real estate, may be center stage at a mid-sized firm.
If your clients are complaining about their invoices, they may be happier finding legal services from you at a mid-size firm. There is a vast client pool that is unwilling or unable to pay big-firm rates for legal services, but that still demand first-rate legal services. This may be even truer over the next couple of years, given the current economy. Mid-size firms usually offer more flexible rate structures that would be attractive to your existing clients and open up a whole new category of potential clients.
If you are looking for the professional space and support to pursue an entrepreneurial or unusual business plan, a mid-size firm may be well equipped to offer it. A mid-size firm may offer more flexibility for your practice's business plan. For example, you may be able to target a wider pool of potential clients without the conflict issues inherent at many big firms. Or you may be able to round out a partial book of business by providing specialized services, such as tax law advising or estate planning, to the firm's existing clients. An attorney with an incomplete book of business may be unattractive to big firms that expect partners to bring in substantial work to employ associates, but such an attorney may be just what a mid-size firm is looking for to complement their existing practices. You are more likely to know most or all of your colleagues in a mid-size firm, which can generate more concrete opportunities for cross-selling your services to the firm's existing clients.
If you aspire to a meaningful position within your firm or its management, or simply want your voice heard, mid-size firms offer more opportunities. The paths to equity partnership, internal committee membership and practice group leadership are shorter in a mid-sized firm. Partners in mid-size firms usually have greater access to the managing partner and more personal relationships with management staff and executive committee members. Many mid-sized firms have the luxury of considering all partners' opinions about firm management and develop consensus decisions regarding partnership issues and strategic planning.
If you want access to marketing, client services or paralegal staff without layers of bureaucracy, mid-size firms can offer more immediate access to support staff. Supporting departments in mid-size firms generally have fewer people and fewer offices to service, so they can be more responsive and more knowledgeable about your specific needs.
If you long for a place that allows you to develop a quality practice without sacrificing a quality life, a mid-size firm may be a better fit. Attorneys who have moved from big firms to mid-size firms often report they are relieved to be appreciated again, to enjoy practicing law again, and to have the flexibility to better balance their professional and personal lives. Mid-sized firms are more likely to treat their attorneys as people rather than just billing units.
Of course the promise of being a more important, successful, engaged, supported and happy attorney will not be fulfilled by every mid-sized firm, simply by virtue of its size. Make sure that you select a firm that is a good fit for you based on the following:
Practice mix: Does the firm have strength in your practice area or would you fill an important practice gap for them? Does the firm have complementary practice areas that might offer you opportunities to cross-sell?
Strategic plan: Does the firm have one? Is it well thought out? Is it consistent with your personal goals? Does the firm have a robust practice group structure into which you could fit well? Does it support collaboration or foster silo behavior? Does it include support for growing practices and proactively identifying emerging markets?
Management structure and professional staff: How much does the managing partner really manage versus practice law? Are the management structures commensurate with the quantity of work with which they are charged? Are the professional staff proactive and engaged or cynical paper pushers?
Support services: What is the quality of the marketing and client services available? Will they help you grow your practice?
Growth opportunities: Are there institutionalized opportunities for mentoring and professional development?
Check your sources: Unfortunately there is not a single, comprehensively indexed reference book that will answer all of these questions; you may have to do a little digging, and ask some probing questions. There are many sources, however, that can help you develop a good picture of what your life at a mid-sized firm might be like, including: Marketing materials such as web sites, brochures, publications and ads will give you the firm's official line, what they want you to know about them or aspire to be.
Recruiters often have a feel for how firms compare in terms of the more intangible aspects of culture and lifestyle.
Firm management can give you a comprehensive view of where the firm is headed and what the possibilities are for you at the firm.
Attorneys at a prospective firm can give you a more realistic, insider's perspective about the culture and work-life balance.
Clients of the prospective firm can give you a sense of the caliber of attorneys at the firm, as well as the caliber of work the attorneys attract. Your own clients may already be working with mid-sized firms - ask them about who and why.
If you are thoughtful about the direction your career is taking as compared to the direction you really want it to go, you may find that a mid-sized firm is a more realistic platform for your professional dreams. If you think expansively and do your homework about your options, you may find making the leap from a big firm to a mid-sized firm is not a jump down but a step onto a springboard for your career.
Michael Heumann is managing partner of Nossaman, where he specializes in business litigation. Mary Powers Antoine focuses on health care law and is the firm's assistant managing partner. They lead a firm of over 150 attorneys in eight offices nationwide and have helped bring dozens of lateral attorneys to Nossaman.