One problem many partners have within major law firms is their compensation and ability to originate business is limited by the ever-increasing billing rates of the firm. This is especially the case with bankruptcy cases where the amount of money that the attorneys can bill is set by the bankruptcy trustee in the matters that they work on. Over the past few years, I have seen an influx of bankruptcy attorneys that approach me looking for assistance finding new positions because the firms they were in or they did not allow them to bill out various types of work at lower hourly rates. In fact, I am currently working with several attorneys that are in this position and are looking for work with new firms.
|
| Harrison Barnes |
The best strategy for attorneys at major law firms who cannot originate business at high hourly rates, is generally to go to smaller to midsize law firms. In the past, bankruptcy attorneys often like to go to bankruptcy boutique law firms that could accommodate different billing structures and where they could work with peers. Over the past few decades, bankruptcy attorneys have more often preferred to work in general practice firms where they can be sent work by other attorneys and also where they can refer bankruptcy clients to other attorneys in the firm for things such as corporate work, nonbankruptcy related litigation, real estate work and other matters to get origination credit. Today, most bankruptcy attorneys tend to prefer working in general practice firms as opposed to bankruptcy boutiques.
This attorney wanted to work in a national law firm, without exorbitant billing rates and that also allowed them the opportunity to send work to others and also get work from others.
Because the attorney was looking for a national law firm, I determined in consultation with the attorney that a good list of prospective firms would be those that were branch offices of national midsize law firms. There are lots of very good midsize law firms that do not have high billing rates but managed to expand nationally and are successful doing so. This turned out to be the perfect fit for this attorney. I found several law firms that were interested in interviewing the attorney that also did not have substantial bankruptcy practices in the branch offices. This attorney was interested in a large portion of the Northeast corridor, and this gave them many firms with which they could speak.
Ultimately, they went to work with the firm that did not have a large national bankruptcy practice but needed someone to help them staff several matters that they were bringing in around the country, as well as someone who had enough work to keep themselves busy. The attorney was able to get a position where they could bring in work at a competitive billing rate, get work from offices of the firm around the country and also have more security in their position. The security came from the fact that by building up their book of business the attorney would be more valuable to the law firm and also have the ability to service more clients.
One of the most important factors for partners is that the sort of work they do in their billing rates match the firm there are with. It is increasingly common for attorneys in large law firms to move to smaller law firms to grow their books. Many attorneys from larger law firms make more money in smaller law firms when they can bring their work as well as get more work once inside the smaller firm.
View BCG Attorney Search’s Recent Placements
Read BCG Attorney Search Reviews
About Harrison Barnes
Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.
With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.
Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.
Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.
One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.
One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.
Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.
In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.
Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.
In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.
About BCG Attorney Search
BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.
