Local firm makes good?
April 30, 2008
DLA Piper gets love from the American Lawyer annual rankings issue today. The magazine points to Piper as one of the few firms for whom a major merger has actually panned out:
The firm has yet to come back down to earth. It has quadruple the number of lawyers of either of its original predecessors. Per-partner profits kept up double-digit growth for five of the last eight years and are up nearly 150 percent since 1999. DLA significantly outpaced The Am Law 100 in average year-on-year growth in revenue per lawyer, profits per partner, and average partner compensation postmerger. And, as the chart shows, the firm grew fast enough in eight years to finally beat the Am Law 100 average in revenue per lawyer in 2007 (it has yet to catch up in profits).
However, the magazine also points out that more than 50 partners have departed the firm since late 2005. I wonder if most of this had to do with lawyers being conflicted out of work that they had always handled, or if there were other major reasons.
CARYN TAMBER, Legal Affairs Writer
Sphere: Related ContentWSJ names local lawyer behind Mitchell report
February 13, 2008
The Wall Street Journal’s Law Blog has a post up about the Baltimore lawyer who apparently did “most of the heavy lifting” on the doping-in-baseball Mitchell report.
CARYN TAMBER, Legal Affairs Writer
Sphere: Related ContentMore on big-firm salaries
February 7, 2008
Some more news on the big-firm salary front: the largest of the truly Maryland-headquartered firms, Miles & Stockbridge, is up to $140,000. The increase, which is as of the new year, is a $15,000 bump from last year’s rate.
That puts Miles at the same salary level as Ballard Spahr’s Baltimore’s office. Both firms are $20,000 lower than the Charm City offices of Venable and DLA Piper, two firms born here but now playing with the big boys on a national level.
Miles chairman John Frisch says the raise doesn’t come with a billable-hour requirement hike. Miles remains at 1850, lower than Piper or Venable.
CARYN TAMBER, Legal Affairs Writer
Sphere: Related ContentVenable to raise first-year associates’ salaries?
January 30, 2008
The appropriate people from Venable aren’t getting back to me on this — I’ve been trying since last week — but word is they’re raising starting salaries for first-year associates to $160,000 as of the fall. This year, starting salaries were $145,000.
The firm that may be Venable’s top competitor for talent in Baltimore, DLA Piper, says it’s finalizing starting salaries and bonuses and will probably have a number today.
No word yet on what some of the other major Maryland firms are doing yet — for Pete’s sake, it’s January! — but I’ll keep you posted as I learn more.
CARYN TAMBER, Legal Affairs Writer
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