The Musings of Gary M. Zeiss

Posts Tagged ‘big law

As I watched the law firm layoff numbers balloon throughout the quarter, I couldn’t help but wonder how many law students would become entrepreneurs after law school.  Given the market, I’d expect that a few would find themselves in that place.

That got me thinking about this time.  Big Law is collapsing, eliminating the bottom and middle of their pyramid schemes.  With the foundation eliminated, it isn’t clear that the top will be able to survive.  Partners who have commanded legions of associates are now going to have to get their own hands dirty, and it isn’t clear how many clients will have the stomach, or the bank balance, to tolerate $700/hour fees – even if they’re discounted by 10%.

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  • Mike: I was just speaking to a friend in DC that was explaining the same thing to me. The firm he's been clawing his way to the middle of for the last 7 ye