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Presentation to the Association of Pro Bono Counsel
Timothy B. Corcoran
Pamela Woldow, Esq.
Altman Weil, Inc.
October 15, 2009
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2010
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The rules have changed…
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… but have the R.U.L.E.S.?
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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
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But what if the clients just say no?
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Is your law department facing budget cuts in 2009?
Altman Weil CLO Survey, 2009
No 25.2%
Yes 74.8%
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What steps have outside counsel taken to improve the working relationship with your Law Department?
None!
Altman Weil CLO Survey, 2009
4.5%
4.1%
3.7%
3.7%
2.8%
1.6%
5.7%
8.1%
39.4%
18.3%
13.8%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
None
Communication
Fees / Billing
Training / CLE
Responsiveness
Technology
Social Events
Satisfaction Surveys
Partnering
Improved Project Staffing
Newsletters
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The New Math
• Profits = Revenue less Expenses• COGS must be lower• Predictability improves retention• Responsiveness improves retention• Retention reduces COS
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Alternative Fee Arrangements
• It’s not just about discounts• Predictability vs. uncertainty• Experience reduces risk• Alters how matters are staffed and
managed
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20092009
The Big SqueezeThe Big Squeeze
Presented byPresented by
Pamela Woldow, Esq.Pamela Woldow, Esq.
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Associate Salaries Cut 10 – 30%• 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
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Bye Bye Lockstep!• Orrick• Bingham McCutchen• Squire Sanders• Howrey• Dorsey & Whitney• Townsend and
Townsend and Crew• McKenna Long
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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
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•
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Maslow’s Triangle
Self Actualization
Esteem
Belonging
Safety & Security
Survival
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Pro-Activity Plan
• A Seat at the Table
• Be Prepared
• Speak the Language
• Match Needs Now
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The Scrooge Effect
Hard MessageInexpensive training
Experience = higher rates
Faster ROI
Enhance client trust
RFPs
Soft MessageWe have commitments
Helps community
Non-profs “hard hit”
Societal value
Good for recruitment
Firm culture
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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
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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