Many corporate Biglaw attorneys have experienced difficulties through the past year as demand has diminished. As layoffs become a concern, these lawyers might be contemplating other options for their careers. Intriguingly, midsize firms could offer a more appealing environment for corporate attorneys.
Steve Cooperman, chair and co-managing partner of Morrison Cohen, a midsize international firm, provided some valuable insights in a recent interview. Cooperman himself transitioned from Biglaw to a midsize firm, making him well-positioned to answer key questions concerning benefits and pitfalls of such a career path. The panel discussed what the experience at midsize firms entails, and how success can be realized in such settings. More about Steve Cooperman
Cooperman pointed out that midsize firms offer fewer associates on deals, providing them with increased responsibility and client interactions. He emphasized that the work-life balance in midsize firms is more considered, and the long-term benefits of training and mentorship are significant. Importantly, they are not as susceptible to macro-economic risks that larger firms face, which helps provide stability.
From Cooperman’s perspective, billable hours in Biglaw firms often cause the most stress. Midsize firms typically demand lower average annual billable hours. Although there are instances of pressure, these instances are less frequent. The goal is to ensure manageable workflows and to avoid overtaxing associates.
For any associate considering a move to a midsize firm, Cooperman advocated for finding a firm where development and learning opportunities are available. More significantly, the firm should align with the associate’s values, professional aspirations, and goals. In a midsize firm, visibility is higher making culture a critical component.
The insights shared by Steve Cooperman highlight the potential benefits of a midsize firm for corporate attorneys. Biglaw transitioners need to be thoughtful about their choice, ensuring alignment of career aspirations with a firm’s culture and ability to provide growth opportunities. Full Interview