Partner Pressures Ramped Up in Downturn, Firm Chairman Says
The chairman of Philadelphia law firm Schnader, Harrison, Segal & Lewis says the economic downturn is increasing the pressure on partners to work harder and generate revenue.
“There is going to be less acceptance of work not meeting the minimum expectation,” firm chairman Ralph Wellington told the Philadelphia Inquirer.
“In most firms, it is the associates who scramble to make the hours and the partners who do business development,” Wellington told the publication. “In these times, partners need to be reminded that you cannot just assume that an increase in rates is going to make it fine. Everyone has to tighten up on expenses, and everyone has to work harder.”
Francis Milone, chairman of Morgan, Lewis & Bockius, told the Inquirer that the client pressures may mean more work is being given to partners rather than associates. Clients “want law firms to act in a very different way going forward,” he said. “They are not going to be willing to pay, frankly, to train first-year lawyers.”
“Some clients will tell you, ‘I’d rather pay $1,000 an hour for somebody because they have the answer at their fingertips, they don’t have to think long about it, and they don’t have to do a lot of research.’ “
