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Yvonne Nath shares what she’s learned (so far!).


Any good strategic planning process takes into consideration how to optimize the existing resources you have and what you will decline to pursue. You must be able to make important decisions without having all the information (i.e., you’ll need to take some risks).

The pandemic gave me some time to rethink and revise the strategic plan I have for my life. Not my entire life, of course, but I did map out how I want to live the next 1-2 years of it. You see, strategic plans need to be flexible because the future is not linear. One can plan and prepare for the future yet still be surprised and unprepared by contingencies in life. Ten years ago, I would have never dreamed I would be where I am today. Likewise, my life looks pretty different today than it looked just one year ago. Could you say the same?
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Diversity is indeed associated with higher law firm profits.  To accept this fact, the profession needs to understand why.


Figure 1 above reports expected changes in average partner compensation at different levels of racial diversity among attorneys in large law firms.  These results come from an “all else equal” model that accounts for differences in a multitude of other relevant factors, such as geography, leverage, and firm prestige.

The key takeaway? Within the large firm market, firms with higher shares of Asian, Black, Hispanic, and Multiracial attorneys (“diverse attorneys”) are paying their partners higher average levels of compensation—at about a $260K premium for the firms with the highest diverse representation.
Continue Reading Nothing not to like: diversity and law firm profitability (238)

Source: Whitney Johnson, “Throw Your Life a Curve,” Harv Bus Rev, Sept 3, 2012

The S-curve is real.  If we’re not growing, we’re dying.


Through client work that admittedly spans a broad swath of the legal industry, I am fortunate to spend a lot of time with law firm leaders and other attorneys at varying stages of their careers.  Through these discussions, I have learned why some attorneys choose to work for law firms while others–with the same stellar pedigrees–prefer to work for alternative legal service providers (ALSPs).
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