For me, life before Executive Search involved a long and satisfying real estate career, with my last stop as Chief Financial Officer of a REIT. Throughout my career I had the pleasure of working with attorney's in top-tier firms across the country, such as White and Case, Skadden Arps, Clifford Chance, and the list goes on. I often reflected on how powerful and secure the top partners were in these firms, influencing big business, getting paid handsomely for it, and enjoying real job security. Alas, times have changed, even for these venerable institutions.

This morning the Wall Street Journal ran an article reporting that the pressure is on at the large firms to reduce costs to reconcile that revenues never fully recovered after the downturn. Businesses are squeezing costs out of their operations and legal bills loom large on the expense line and are low hanging fruit for the chopping block. These financial pressures are causing law firms to demote otherwise top-tier partners from the equity ranks of the firm, or worse yet, to take a hike. American Lawyer surveyed the top firms and learned that 56% plan to demote partners, and 67% will ask partners to leave. Notwithstanding this pressure, and despite efforts by corporate clients to curtail legal expenses, billable rates for the top partners in these firms continues to ramp up, and is now $1,500 per hour.

So, the bottom line is that the top dogs get paid, and a rising middle class in these venerable institutions continues to grow.

Job Listings

SELECTLEADERS
Senior Associate
(NEW YORK, NY) Our client is a large New York Based Real Estate company investing in Multifamily assets across the US. Company seeks an Acquisition/Asset Management professional to be an integral part of sourcing, underwriting, evaluating and structuring new deals while managing the existing portfolio of assets.

SILVERTHREAD CAPITAL
Commercial Real Estate Finance
(LOS ANGELES, CA) Duties include working directly with borrowers requesting financing for commercial real estate; pursuing relationships with commercial real estate agents; and working with lists of borrower's fund owns, who may need refinancing.

CIM GROUP
Property Manager – Residential
(ALEXANDRIA, VA) Property Manager will be responsible for overall day-to-day management and lease up of the property. Responsibilities include directing on site staff, contracted services and vendors to maintain a first class appearance of the property.

USAA REAL ESTATE COMPANY
Sr. Associate, Performance Attribution
(SAN ANTONIO, TX) Position will work closely with Head of Performance Measurement, Attribution and Reporting and the senior leadership team to synthesis and interpret performance at the firm, sponsored program, and underlying investment levels.

TITAN DEVELOPMENT
Director of Development
(ALBUQUERQUE, NM) Duties include: sourcing and project management of commercial real estate development project; site selection, managing due diligence and entitlements, design review, permitting and budgeting, selecting and managing third party consultants; resolving zoning issues; and establishing accurate budgets.

PEREGRINE GROUP LLC
Project Manger
(COLUMBUS, OH) Duties include supervising the construction of commercial properties, with an emphasis on mid and high-rise, industrial and tenant improvement projects and to assist with the design and value engineering to attain the most cost effective design without sacrificing quality or marketability.

LINCOLN PROPERTY COMPANY
Assistant Property Manager Commercial
(WASHINGTON, DC) Duties include assisting Manager in preparation of financial reports; A/P, A/R, month-end reconciliations; Vendor coordination; client/tenant interaction; assist Property Manager in preparation of property budgets; and lease administration.

CBRE
Senior Production Analyst
(ATLANTA, GA) Analyst will assist producer(s) with underwriting, packaging, lender due diligence, negotiation process, commitment process and closing process and gather moderate to complex data on local, regional, and national commercial real estate markets.

So, the bottom line is that the top dogs get paid, and a rising middle class in these venerable institutions continues to grow.

Instant Insights /

Legal Bills and the Middle Class

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