In April 2013 I launched a “Roll Call” of pricing professsionals in law firms. (POST)
Six months later, the initial list of 26 law firms has shot past 50, and the total number of professionals has more than doubled, from 33 to more than 70. (Full list: ROLL CALL)
Some of this is explained by better awareness and better networking. However, a good number is attributable to growth in the profession. So far in 2013, at least four AmLaw 100 law firms have conducted searches for new pricing positions (all directors): Paul Hastings, Reed Smith, Ropes & Gray, and Venable. Two others — Littler and Mayer Brown — recently concluded searches for second-generation pricing directors. In addition, there are more than 10 positions currently open in law firms for full-time pricing profesionals. See ROLL CALL.
Last month, TyMetrix made the grand statement that nearly every BigLaw firm had a pricing director (READ ARTICLE). There has been a lot of progress, but there are still lots of holes in law firms, including BigLaw. According to my research, of the AmLaw 100 (see chart below), only 27 have at least one full-time professional dedicated to pricing. Of those, only 60% hold a Director title or above, with the majority falling outside the Top 25. Surprisingly, among the Top 10 and Top 25, there are as many Analysts as Directors. Pricing may be the hottest trend in law firm hiring, but it most certainly is an evolution and not a revolution.
I believe the day will come when BigLaw will appreciate the value pricing directors add to law firms. But it’s not 2013, and it may not be 2014. When it happens, I’ll be sure to tell the folks at TyMetrix.
[For those curious about the AmLaw 200, my research finds eight firms: Baker Donelson, Davis Wright, Fenwick & West, Husch Blackwell, Kelley Drye, Quarles & Brady, Robins Kaplan, and Vorys Sater.]
Here is my breakdown of the AmLaw 100:
|1||DLA Piper||Sr. Manager||42||Debevoise||Leader|
|2||Baker & McKenzie||Director||46||Bryan Cave||Director|
|4||Skadden Arps||Analyst||53||Vinson & Elkins||Director|
|12||Morgan Lewis||Analyst||57||Hunton & Williams||Director|
|16||Mayer Brown||Director||58||Wilson Sonsini||Manager|
|19||Reed Smith||Director||60||Seyfarth Shaw||Manager|
|23||Ropes & Gray||Analyst||67||Littler||Director|
|24||Paul Hastings||Director||72||Fish & Richardson||Sr. Manager|
|27||Orrick||Sr. Advisor||81||Pepper Hamilton||Director|
|30||King & Spalding||Director||83||Crowell & Moring||Director|
|31||O’Melveny & Myers||Director||87||McKenna Long||Director|
|34||Winston & Strawn||Manager||97||Ogletree||Director|