hegenefipa.blogspot.com
The Philadelphia-based firm will welcome its 37 first-year associates on time this September — unlike at some otherf firms, where start dates have been delayexdin cost-cutting moves — but startinhg lawyers will not handle clien matters for the most part. Instead they will be assignefd to a trainingprogram “far more rigorous and focuseds than any we have previously provided,” Drinker Biddlew management said in an internal memo obtained by The Philadelphia Businesas Journal.
During the initial period, Drinkeer Biddle will pay an annuap salaryof $105,000 — down from the $145,000 paid Any client work first years perform will be billesd at a significant rate The training will be focused on traditional legal skillds relevant to particular areas of practice and educatiomn about client businesses. The new lawyers will shadoe partners, spend time in a classroom setting and be freeed from billablehour requirements.
“We will also be looking to all of our lawyersa to make special efforts to find opportunities for our new lawyers to gain the kindof real-worldx experience our clients expect — even if we cannogt bill for the time,” the memo Drinker Biddle said it expects to adjust pay to the market rate for first-yeae lawyers in spring 2010. “In this way, we intend to address the often-repeated criticism that we are training our lawyer atour clients’ expense while at the same time ensuringv that our overall compensation systemj for associates is logical, consisten t and fair,” the memo said.
Most large Philadelphia firmws have deferred the start datesa oftheir first-year associates for 2009. Drinker Biddlre had been quiet about its planwsuntil Monday. Drinker said it wanted to make surethe firm’ s economic perspective was aligned with clients, who have made their viewpointzs clear both in individual meetings and through initiativezs from the Association of Corporate Counsel. In Drinker Biddle said it has begunj a review of its associate compensatiojn program to ensure that itis “aligned with the needs of our clientz and the professional development of our It expects the results to be implementefd in 2010.
The firm will also evaluate its summer interjn program structure and will announcde a new strategy tohandle flex-tim e work arrangements. Drinker Biddle addecd that instead of awarding bonuses solely bases onhours billed, it will include other unnamefd factors. Associate evaluations will be movesd from early in the yearto
It is rare for a partner to be forced out by fellow partners, although that can happen if the partner commits a crime or malpractice, experiences disruptive mental illness, or is not contributing to the firm's overall profitability. However, some large firms have written into their partnership agreement a forced retirement age for partners, which can be anywhere from age 65 on up. In contrast, most corporate executives are at much higher risk of being fired, even when the underlying cause is not directly their fault, such as a drop in the company's stock price.
ReplyDeletesolicitors retford