Legal Market-Pulse Briefing
A look at the US mid-to-big law legal market over the last two years and the 1st half of 2022. With Brooks Smith, Richmond Office Managing Partner for Troutman Pepper and Bill Josten from Thomson Reuters Institute.
A look at the US mid-to-big law legal market over the last two years and the 1st half of 2022. With Brooks Smith, Richmond Office Managing Partner for Troutman Pepper and Bill Josten from Thomson Reuters Institute.
This episode, [Brooks Smith], [Bill Josten] and [Josh Kubicki] cover [Current Legal Market Trends].....
Topics discussed:
Macro level trends - mainly the slowing demand for legal work and the lower productivity. We discuss what is driving the slowdown and how long-term bahvior changes are making lawyers less productive despite the rise of technology. We also talk about fee and rate trends.
Practice Group trends and cycles - how to manage this as an associate and how to make it work for you by learning "the pivot."
Legal talent fluidity - whate are the new trends in terms of lawyer longevity & loyalty when 50% of first associates will not be at the firm in 5 years. This is only accelerating as new data shows firms churning through 20 to 30% of assciates every year!
Why the Business of law and its talent is key to a new lawyer's success
Links mentioned in this episode:
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