Category: News Feeds

Cadwalader,
Wall
Street’s
oldest
firm,
has
had
a
rough
go
of
things
this
year.
In
the
wake
of
the
firm’s
deal
with
Donald
Trump,
the
firm
started

losing
lawyers
left
and
right,
with
key
partner
groups
lateraling
out
at
a
rapid
pace.
Rumors
of
the
firm’s
interest
in
a
merger
began
to
spread,
and
just
one
month
ago,
we
reported
that
Cadwalader
was
in

merger
talks
with
Atlanta-based
Alston
&
Bird.
Cancel
those
plans,
because
the
distressed
firm
today
announced
its
partnership
with
Hogan
Lovells.

The
prospective
tie-up
is
expected
to
be
the
largest
law
firm
merger
in
history,
and
will
close
sometime
in
2026.

The
combined
firm,
Hogan
Lovells
Cadwalader,
will
have
about
3,100
lawyers
spread
across
the
globe,
with
clientele
in
every
major
financial
market.
The
new
firm
will
become
an
absolute
financial
powerhouse
—
the
world’s
fifth-largest
firm
by
revenue,
in
fact
—
with
gross
revenue
of
more
than
$3.6
billion.
The

American
Lawyer
has
additional
details
on
why
this
merger
makes
sense:

According
to
Am
Law
100
data,
Cadwalader
and
Hogan
Lovells
have
moderately
similar
revenue
per
lawyer
and
average
profits
per
equity
partner.
Hogan
Lovells
brought
in
$2.964
billion
in
revenue
in
2024,
more
than
quadruple
the
amount
of
revenue
Cadwalader
brought
in
at
$638.2
million.
In
RPL,
Hogan
earned
$1.097
million
while
Cadwalader
generated
$1.495
million,
a
$398,000
difference.
Meanwhile,
Hogan’s
average
PEP
came
in
at
$3.072
million,
whereas
Cadwalader
generated
$3.709
million,
just
over
$600,000
in
difference.

Miguel
Zaldivar,
who
serves
as
CEO
of
Hogan
Lovells,
will
retain
his
title
to
serve
as
CEO
of
the
combined
firm.
Pat
Quinn
and
Wes
Misson,
Cadwalader’s
co-managing
partners,
will
serve
on
the
firm’s
international
management
committee,
with
Quinn
acting
as
global
managing
partner
for
client
and
practice
integration,
and
Misson
will
acting
as
global
managing
partner
for
the
firm’s
finance
practice.

“Together,
Hogan
Lovells
Cadwalader
will
become
one
of
the
world’s
most
formidable
legal
platforms
–
built
to
advise
clients
on
the
most
critical
legal
and
business
issues
of
the
moment
and
transactions
that
will
shape
the
future,”
Quinn
said
in
a
statement.

Best
wishes
to
Cadwalader
and
Hogan
Lovells
on
their
impending
combination.

Cadwalader,
Hogan
Lovells
Intend
to
Create
$3.6B
Merged
Firm
[American
Lawyer]

---

Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to

email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.

Boutique
firms
continue
to
dominate
when
it
comes
to
associate
compensation
this
bonus
season.
Plenty
of
firms
can
match
Cravath’s year-end
bonuses and
Milbank’s

special
bonuses,
but
these
small
but
mighty
boutiques
are
more
than
willing
to
blow
the
prevailing
market
rates
out
of
the
water.

Gjerset
&
Lorenz,
a
healthcare
boutique
located
in
Austin,
Texas,
is
once
again
offering
up
some
gigantic
bonuses
that
are
sure
to
make
associates
feel
truly
valued.

The
firm
is
offering
base
bonuses
on
the
Cravath/Milbank
scale
for
1900
hours
billed,
and
for
every
hundred
hours
billed
above
that,
even
more
money
is
added,
up
to
$215,000
for
its
busiest
senior
associates.
On
top
of
that,
the
firm
awards
associates
with
individualized
merit
bonuses
based
on
“leadership,
contributions
to
firm
culture
and
morale,
training
and
mentoring
team
members,
maintenance
and
expansion
of
client
relationships,
as
well
as
countless
intangible
contributions
[made]
to
the
firm
and
[its]
clients.”
Check
out
Gjerset’s
bonus
grid,
which
details
maximum
bonus
potential
of
up
to
$355K.

But
that’s
not
all!
The
firm
is
offering
additional
special
bonuses
up
to
$160,000
on
top
of
its
already
huge
bonuses,
to
be
paid
out
over
the
next
four
quarters,
with
the
first
installment
due
on
March
31,
2025.
“We
appreciate
that
over
the
course
of
the
year,
we
all
face
challenges,
periods
of
overwhelming
work,
small
victories,
and
small
losses,”
write
the
partners.
“We
intend
for
these
special
bonuses
to
provide
a
more
contemporaneous
recognition
of
how
much
our
firm
values
you
as
part
of
the
team.”

Congratulations
to
everyone
at
Gjerset
&
Lorenz!

Remember
everyone,
we
depend
on
your
tips
to
stay
on
top
of
compensation
updates,
so
when
your
firm
announces
or
matches,
please
text
us
(646-820-8477)
or email
us (subject
line:
“[Firm
Name]
Bonus/Matches”).
Please
include
the
memo
if
available.
You
can
take
a
photo
of
the
memo
and
send
it
via
text
or
email
if
you
don’t
want
to
forward
the
original
PDF
or
Word
file.

And
if
you’d
like
to
sign
up
for
ATL’s
Bonus
Alerts
(which
is
the
alert
list
we
also
use
for
salary
announcements),
please
scroll
down
and
enter
your
email
address
in
the
box
below
this
post.
If
you
previously
signed
up
for
the
bonus
alerts,
you
don’t
need
to
do
anything.
You’ll
receive
an
email
notification
within
minutes
of
each
bonus
announcement
that
we
publish.
Thanks
for
your
help!

---

Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to

email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.

The
integration
of
AI
into
legal
practice
has
reached
a
critical
inflection
point,
and
the
risks
of
choosing
the
wrong
solution
extend
far
beyond
simple
inefficiency. 

For
legal
professionals,

the
stakes
are
uniquely
high:
accuracy
concerns,
ethical
implications,
and
professional
standards
hang
in
the
balance
with
every
AI-assisted
task. 

At
the
heart
of
these
challenges
lies
a
critical
distinction
many
firms
are
only
beginning
to
understand:
the
fundamental
difference
between
consumer-grade
AI
and
professional-grade
AI. 

As
the
gap
between
“using
AI”
and
“using
AI
effectively”
continues
to
widen,
legal
professionals
who
recognize
and
act
on
these
differences
will
be
positioned
to
deliver
better
outcomes,
maintain
competitive
advantage,
and

uphold
the
professional
standards
their
clients
depend
on. 

Here,
we’re
sharing
some
key
distinctions,
based
on
a
recent
webinar
sponsored
by
our
friends
at
Thomson
Reuters.
(View
the
full
recording
here.
Registration
is
required,
and
CLE
credit
is
available.)

Trust
Starts
at
the
Source

There
are
many
practical
use
cases
for
consumer-grade
generative
AI,
from
streamlining
daily
communication
tasks
to
enabling
creative
experimentation,
and
these
tools
have
brought
AI
capabilities
to
millions
of
users.

“Consumer
AI
does
produce
confident
sounding
results,”

says
Thomson
Reuters’
Maddie
Pipitone.
“And
that
can
be
great
for
creative
purposes,
but
not
for
professional
purposes.”

For
professionals
who
need
to
make
confident,
defensible
decisions,
the
source
of
AI-generated
information
becomes
critical. 

Drawing
from
the
general
internet,
consumer
AI
tools
introduce
uncertainty
and
may
hallucinate
data
or
fabricate
cases,
requiring
extensive
validation.
ChatGPT,
for
example,
has
often
cited
community-edited
publications
like
Reddit
and
Wikipedia
as
information
sources,

Pipitone
notes,
referring
to
recent
studies. 

Certain
legal-specific
tools,
by
contrast,
will
draw
on
their
own
curated
body
of
information,
she
says,
increasing
the
reliability
of
their
large
language
models. 

“When
you
have
a
tool
like
CoCounsel
Legal
from
Thomson
Reuters,
it’s
grounded
in
Westlaw
and
Practical
Law,
which
ensures
that
additional
level
of
accuracy
and
recency,”
she
says.
“The
data
is
up
to
date
and
not
a
blog
post.”

CoCounsel
will
cite
to
every
source,
allowing
you
to
validate
all
of
its
statements
instantaneously.

AI
is
Here
to
Stay

In
Thomson
Reuters’


2025
Generative
AI
for
Professional
Services
Report,
42%
of
legal
professionals
anticipate
that
GenAI
will
be
central
to
their
workflow
in
the
next
year,
and
95%
say
within
the
next
five
years.

On
if
AI
will
make
an
impact
on
workflows,
Pipitone
says:
“It’s
not
really
a
question
of
if,
at
this
point,
it’s
of
how
we
do
that
responsibly
and
how
we
incorporate
the
right
workflows
into
our
practice
to
make
sure
we’re
still
fulfilling
those
ethical
obligations
and
doing
right
by
our
clients.”

Doing
so
can
be
done
by
examining
the
capabilities
of
a
Large
Language
Model.
The

timeline
skill
in
CoCounsel,
for
example,
allows
you
to
create
a
chronology
of
events
described
in
documents.
What
would
usually
take
a
substantial
amount
of
time
to
complete
manually
can
now
be
done
in
minutes,
adding
value
to
you
and
your
clients’
time
and
making
processes
more
efficient.

Privacy
and
Privileges

Using
AI
also
creates
complexities
around
data
privacy
and
attorney-client
privilege,
and
key
differences
emerge
between
consumer
and
professional
products
in
this
space. 

Some
consumer
tools
can
store
your
data
and
use
it
for
model
training,
Pipitone
notes,
and
you
have
to
affirmatively
opt
out
to
avoid
this. 

Uploading
confidential
client
info
into
this
type
of
system
could
violate
confidentiality
obligations,
and
even
waive
attorney-client
privilege. 

Legal-specific
tools,
by
contrast,
“are
specifically
built
for
that
confidentiality
and
security
purpose.” 

These

concerns
about
data
privacy
and
privilege
are
essential
considerations
for
any
legal
professional
evaluating
AI
tools. 

When
firms
select
AI
solutions
designed
specifically
for
legal
practice
with
robust
security
measures,
zero-retention
policies,
and
built-in
privilege
protections,
the
path
forward
becomes
clearer.
The
key
is
approaching
adoption
thoughtfully
rather
than
avoiding
it
entirely.

“Building
that
trust
both
with
yourself
and
with
others
in
your
firm
is
key
to
adoption,”

Pipitone
urges,
“So
starting
small,
verifying
that
output
and
then
building
from
there
to
see
where
the
AI
fits
naturally
into
your
workday.”

View
the
Webinar

For
more
on
practical
ways
to
implement
AI
and
communicating
AI
use
to
clients,

see
the
full
conversation
here.
(Registration
is
required,
and
CLE
credit
is
available.) 

Jurisdiction
isn’t
just
a
legal
concept.
It’s
a
destination
that
exists
in
the
form
of
an
eponymous
curated
boutique,

Jurisdiction
Clothing
in
Potomac,
Maryland,
owned
by
family
law
attorney
Jessica
Markham,
founder
of
the

Markham
Law
Firm.  
If
you’re
interested
in
learning
what
motivates
a
successful
attorney
to
launch
a
second
business
venture
outside
the
jurisdiction
of
her
legal
practice,
or
how
lawyers
with
entrepreneurial
side
passions
can
do
the
same,
read
on.

Markham’s
foray
into
ownership
began
when
she
founded
her
family
law
firm
in
2015
which
has
since
grown
to
10
attorneys
supported
by
a
robust
professional
team.
The
firm
handles
the
full
spectrum
of
family
law,
including
many
matters
other
firms
decline:
international
parental
kidnapping,
interstate
custody
disputes,
appellate
work,
adoption
and
guardianship,
domestic
violence
matters,
and
qualified
domestic
relations
orders
(QDROs). 
Unlike
many
law
firm
owners,
Markham
continues
to
actively
practice
law,
trying
cases,
mentoring
associates,
teaching
CLEs,
and
serving
as
a
strategic
resource
within
the
firm. 
But
Markham
remains
firm
about
boundaries,
limiting
herself
and
her
team
to
9-5
workweeks
to
avoid
burnout.

As
it
would
turn
out,
these
boundaries
weren’t
limits
but
instead,
the
secret
to
more
opportunity. 
After
the
firm
hired
a
director
of
operations,
Markham
found
herself
working
fewer
hours
without
losing
momentum.
But
she
still
had
creative
energy.
And
so
she
asked
herself,
“What
already
exists
in
my
life
that
I
love,
understand,
and
do
instinctively?”

The
answer
was
fashion.
For
years,
Markham
had
followed
runway
shows,
read
fashion
publications,
advised
friends
on
purchases,
and
thought
deeply
about
quality,
longevity,
and
personal
style.
Fashion
was
not
a
distraction
from
her
work;
it
was
how
she
recharged. 

Once
Markham
decided
on
a
store
as
an
outlet
for
her
passion,
the
venture
came
together
at
a
remarkable
pace. 
First,
Markham
spoke
with
three
boutique
owners
and
an
online-store
owner
to
gather
intelligence
on
the
experience
of
starting
and
running
a
store. 
By
February
2023,
a
month
later,
Markham
had
an
online
shop
up
and
running
but
quickly
realized
that
it
did
not
provide
the
experience
she
wanted
to
create.
So,
in
June,
Markham
pivoted
to
a
brick-and-mortar
boutique
offering
a
personalized,
relationship-based
shopping
experience
that
simply
did
not
exist
in
the
D.C.
area.
Jurisdiction
Clothing
opened
in
October
2023,
just
five
months
later
—
so
quickly
that
Markham
had
to
use
her
law
firm
as
a
staging
area
for
clothes
until
the
store
could
obtain
necessary
permits
to
open. 

To 
run
the
store’s
day-to-day
operations,
Markham
hired
a
store
manager
who
was
introduced
by
a
friend.
The
store
is
also
staffed
by
part-time
staff
and
college
students
during
the
holidays.
Turnover
is
minimal
since
employees
are
paid
above
market,
offered
benefits,
and
given
stability
unusual
in
retail.

Lawyers
in
the
local
community
are
a
source
of
business,
as
is
foot
traffic
in
the
busy
shopping
center
where
the
store
is
located.
Jurisdiction
also
hosts
after-hours
gatherings
that
combine
shopping
with
community
and
philanthropy.
Customers
select
charities
to
receive
a
percentage
of
proceeds.
Instead
of
traditional
Black
Friday
discounts,
the
store
directs
funds
to
local
nonprofits,
reinforcing
values
over
volume.

I
interviewed
Markham
at
Jurisdiction,
which
gave
me
a
firsthand
look
at
the
boutique’s
jam-packed
collection
of
distinctive
clothing
—
items
rarely
found
in
chain
stores
—
and
the
surprisingly
wide
selection
for
such
a
small
shop.
The
space
is
also
stuffed
with
accessories 
purchased
from
women-owned
brands
and
other
unique
gift
items.
The
store
had
several
customers
while
I
was
there
and
I
watched
as
Andi,
the
store
manager,
skillfully
offered
personalized
feedback
and
suggestions
to
them.
The
store
features
a
neon
sign,
“We
are
all
beautiful,”
which
Markham
said
reflects
the
store’s
philosophy.

Law
firm
owners
like
Markham
have
unique
advantages
in
other
entrepreneurial
spaces.
In
Markham’s
view,
running
a
law
firm
is,
in
many
ways,
more
complex
than
running
a
store,
with
more
moving
parts,
higher
stakes,
and
constant
ethical
and
operational
demands.
But
that
complexity
also
builds
transferable
skills.
Success
in
both
environments
depends
on
understanding
people,
using
data,
leveraging
technology,
and
–
critically
—
knowing
when
and
how
to
delegate. 

Markham’s
story
underscores
a
broader
point:
law
firm
ownership
can
be
a
foundation,
not
a
constraint.
The
same
skills
that
allow
lawyers
to
build
sustainable
practices
—
judgment,
discipline,
delegation,
and
an
understanding
of
people
—
can
also
support
passion
projects
beyond
the
law.
For
lawyers
who
have
imagined
a
life
outside
the
jurisdiction
of
the
law,
Markham’s
experience
is
a
reminder
that
it
is
attainable.

---

Carolyn
Elefant
is
one
of
the
country’s
most
recognized
advocates
for
solo
and
small
firm
lawyers.
She
founded
MyShingle.com
in
2002,
the
longest-running
blog
for
solo
practitioners,
where
she
has
published
thousands
of
articles,
resources,
and
guides
on
starting,
running,
and
growing
independent
law
practices.
She
is
the
author
of
Solo
by
Choice,
widely
regarded
as
the
definitive
handbook
for
launching
and
sustaining
a
law
practice,
and
has
spoken
at
countless
bar
events
and
legal
conferences
on
technology,
innovation,
and
regulatory
reform
that
impacts
solos
and
smalls.
Elefant
also
develops
practical
tools
like
the AI
Teach-In to
help
small
firms
adopt
AI
and
she
consistently
champions
reforms
to
level
the
playing
field
for
independent
lawyers.
Alongside
this
work,
she
runs
the
Law
Offices
of
Carolyn
Elefant,
a
national
energy
and
regulatory
practice
that
handles
selective
complex,
high-stakes
matters.

Is
there
anything
worse
than
a
holiday
office
party?
I
can
think
of
nothing
less
fun
than
spending
several
hours
with
colleagues
at
lunch
or
dinner
or
cocktails
in
settings
outside
of
the
office.
For
those
like
me,
the
whine
is
usually
“Do
I
have
to
go?”
Making
an
appearance
even
if
you
don’t
stay
very
long
is
crucial. 

Yes,
you
do
need
to
show
up,
for
the
same
reason
that 
you
need
to
appear
in
person
in
the
office
every
once
in
a
while.
Matching
the
face
to
the
work
done
is
a
smart
idea.
Employers
frown
on
nonparticipation
unless
your
reason
for
not
attending
is
better
than
excuses
such
as
your
need
to
clean
up
your
cat’s
hairballs,
an
attack
of
last-minute
Christmas
shopping,
and
other
similar
lame
reasons.

If
you
say
that
“The
court
has
ordered
us
back
today
this
afternoon
at
1:30.
I
have
to
be
there,”
or
“This
deal
has
to 
close
this
afternoon,”
you
should
be
excused
from
attending,
but
not
always.
Other
than
the
last
two,
which
are
legitimate
explanations
for
begging
off
(as
long
as
you
can
proffer
the
reason
with
a
straight
face)
you
are
doomed
to
spend
several
hours
showing
your
holiday
spirit,
if
you
have
any.
Maybe
not,
given
this
year.

Enforced
socializing,
hanging
out
with
others
whom
you
normally
would
not
spend
a
New
York
minute
out
of
the
office
with,
those
you
have
nothing
in
common
with
except
that
the
same
employer’s
name
is
on
all
the
paystubs
…
blech.  

Booze
at
these
parties?
If
employers
are
smart
(and
there’s
plenty
of
evidence
in
case
law
and
elsewhere
that
some
managers/supervisors
may
be
two
branches
short
of
a
Christmas
tree
or
a
Hanukkah
bush)
there
would
be
no
imbibing
of
any
booze
during
such
festivities
(and
I
use
that
term
advisedly).
There
are
way
too
many
reported
cases
of
employees
enjoying
themselves
too
much
in
inappropriate
ways.
Manners
matter.

Free
food,
free
booze
(if
it
is
served)
can
be
too
tempting
for
many
of
us
mere
mortals.
When
there’s
free-flowing
booze
at
holiday
parties,
there
is
more
than
just
temptation,
there
are
events
with
potential
consequences.
Do
EPLI
carriers
need
to
be
on
standby
or
even
attend?

At
some
office
parties,
attendees
are
expected
to
dress
appropriately
for
the
time
and
place.
At
others,
just
showing
up
suffices.
If
there
is
a
meal
—
and
often
there
isn’t
—
just
appetizers
and
drink,
it’s
more
likely
that
attendees
will
make
a
brief
appearance,
long
enough
to
see
and
be
seen,
and
then
skedaddle.
Excuses
like
“I
promised
to
be
home
by
X
time,”
or
“the
kids
have
[insert
kind]
practice
and
what
with
traffic,
I
am
going
to
be
later
than
promised,”
or
the
best
one,
at
least
for
ingratiating
purposes,
“I
need
to
get
back
to
the
office
to
finish
drafting
the
motion
that
I
know
Partner
A
wants
to
read
tomorrow.”
This,
of
course,
is
said
not
necessarily
in
front
of
Partner
A
but
within
earshot.

And
how
about
those
“Secret
Santa”
exchanges?
Does
anyone
else
find
them
as
cringe-inducing
as
I
do?
Watching
colleagues
snatch
gifts
from
each
other
has
never
been
a
favorite
spectator
sport
of
mine.

Don’t
stand
in
a
group
of
your
colleagues
and
talk
about
yourself.
Not
only
does
no
one
want
to
hear
it,
they
probably
already
know
about
it,
having
heard
about
it
at
the
coffee
bar,
or
whatever
today
has
replaced
the
“water
cooler”
as
the
hub
for
gossip
and
conversation.
No
one
enjoys
hanging
out
with
a
narcissist,
so
if
you
see
everyone
drift
away,
get
the
hint
so
that
they
don’t
have
to
get
the
hook. 

Finally,
be
on
your
guard
with
what
you
say
and
with
who’s
listening.
I
never
thought
that
would
be
something
we
citizens
had
to
fear,
but
with
the
first
year
of
47’s
second
term
coming
to
a 
close,
you
can’t
be
too
careful.
Just
as
“loose
lips
sink
ships,”
(was
that
term
in
use
before
our
current
Secretary
of
Defense
aka
War?)
anyone’s
behavior,
comments,
social
media,
and
the
like
are
now
grist
for
being
included
on
a
list
of
“domestic
terrorists.”
I
wish
I
was
making
this
up,
but
I
am
not.
Instead
of
Santa
checking
whether
someone
has
been
naughty
or
nice,
this
list
now
will
allow
our
federal
government
—
yes,
yours,
mine,
and
ours
—
to

reward
citizens
who
rat
on
others
to
identify
purported
acts
of
domestic
terrorism.
Please
STFU.
An
arrest
may
suffice
for
doling
out
reward
bucks.
I
am
not
kidding.
  

Will
we
become
a
nation
of
informants?
Something
to
worry
about
in
the
new
year?
Remember

Spy
vs.
Spy
in
Mad
Magazine?
This
makes
me
want
to
have
a
drink,
but
not
at
an
office
holiday
party.

---

Jill
Switzer
has
been
an
active
member
of
the
State
Bar
of
California
for
over
40
years.
She
remembers
practicing
law
in
a
kinder,
gentler
time.
She’s
had
a
diverse
legal
career,
including
stints
as
a
deputy
district
attorney,
a
solo
practice,
and
several
senior
in-house
gigs.
She
now
mediates
full-time,
which
gives
her
the
opportunity
to
see
dinosaurs,
millennials,
and
those
in-between
interact
—
it’s
not
always
civil.
You
can
reach
her
by
email
at [email protected].

The
turn
of
a
new
year
always
brings
a
certain
energy:
an
invitation
to
pause,
breathe,
and
take
stock
of
where
we’ve
been. 
For
solo
practitioners
juggling
every
role,
small
firm
owners
navigating
growth,
law
students
dreaming
of
their
future
practices,
and
managing
attorneys
leading
teams
through
constant
change,
the
new
year
is
more
than
a
calendar
shift.
“Stepping
up”
is
about
doing
what
matters
with
intention.
It
is
about
turning
the
lessons
of
the
past
year
into
a
stronger
vision
for
the
year
ahead.
This
is
your
moment
to
assess,
realign,
and
rise.

We
spend
so
much
time
climbing
that
we
rarely
stop
to
look
at
how
far
we’ve
come.
Each
experience
wins,
misses,
and
lessons
that
form
the
next
step
of
your
professional
staircase.
When
we
take
time
to
process
what
worked,
what
didn’t,
and
what
mattered
most,
we
can
step
into
the
new
year
with
purpose
instead
of
pressure.

Looking
Back:
What
Reflection
Really
Means
for
Legal
Professionals

Many
attorneys
gloss
over
their
wins,
crediting
them
to
luck,
timing,
or
“just
doing
my
job.”
But
the
successes,
big
or
small,
are
proof
of
resilience,
skill,
and
persistence.
They
deserve
recognition
because
they
become
the
blueprint
for
systems
and
strategies
worth
repeating.
At
the
same
time,
the
challenges
of
the
past
year
carry
their
own
form
of
wisdom.
A
difficult
client,
an
overbooked
month,
a
financial
misstep,
or
a
workflow
breakdown
teaches
more
than
any
conference
or
CLE.
When
we
look
at
those
moments
not
with
frustration
but
with
curiosity,
we
begin
to
see
patterns
that
can
guide
better
decisions
moving
forward.

This
is
also
the
perfect
time
to
reconnect
with
your
“why.”
Law
practice
is
demanding,
and
without
a
clear
sense
of
purpose,
it’s
easy
to
drift
into
survival
mode.
Your
“why”
might
be
rooted
in
service,
advocacy,
leadership,
financial
stability,
family,
or
personal
fulfillment.
Whatever
it
is,
revisiting
that
deeper
motivation
helps
frame
your
goals
for
the
year
ahead.
Instead
of
setting
resolutions
that
fade
by
February,
you
create
priorities
grounded
in
values
that
are
more
likely
to
guide
real,
lasting
change.

Stepping
into
the
new
year
with
momentum
also
means
choosing
what
to
leave
behind.
Growth
doesn’t
come
only
from
adding
new
habits
or
goals;
it
just
as
often
comes
from
subtracting.
This
might
mean
letting
go
of
outdated
systems,
unbalanced
caseloads,
unprofitable
services,
or
even
long-standing
routines
that
no
longer
serve
your
personal
well-being
or
your
firm’s
future.

Setting
a
Clear
Vision
for
the
Year
Ahead

A
strong
vision
begins
with
reconnecting
to
your
purpose.
Before
you
set
targets
or
draft
plans,
take
time
to
ask
yourself
why
you
practice
law
and
what
you
hope
your
career
will
contribute
to
your
life,
your
clients,
and
your
community.
Your
“why”
is
not
fluff;
it’s
the
anchor
that
keeps
you
grounded
when
challenges
arise
and
motivation
wanes.
When
your
goals
align
with
your
purpose,
they
become
far
more
sustainable.

Start
with
what
you
can
control.
Maybe
that
means
outlining
quarterly
objectives,
creating
a
simple
weekly
routine
to
check
key
financials,
or
setting
aside
time
for
professional
development.
For
some,
it
may
involve
updating
practice
management
systems,
improving
client
communication
workflows,
or
investing
in
mentorship
and
community.
Actionable
planning
is
not
a
rigid
map,
but
a
compass
that
keeps
your
intentions
aligned
with
your
day-to-day
choices.

Equally
important
is
creating
an
environment
that
supports
your
intentions.
That
might
mean
modernizing
your
software,
delegating
what
drains
your
energy,
restructuring
your
calendar
to
honor
focus
time,
or
surrounding
yourself
with
mentors
and
peers
who
challenge
you
to
grow.
You
don’t
have
to
build
momentum
alone.
In
fact,
the
most
successful
attorneys
often
succeed
because
they
lean
on
strong
networks,
ask
questions,
and
seek
guidance
when
needed.

Accountability
becomes
a
steady
source
of
strength.
Whether
it’s
tracking
your
progress,
participating
in
a
mastermind
group,
checking
in
with
a
colleague,
or
simply
reviewing
your
goals
each
month,
accountability
transforms
aspiration
into
action.
It
keeps
your
vision
from
fading
into
the
background
as
the
year
becomes
busier
and
more
complex.

A
Year
of
Forward
Motion:

But
no
matter
your
stage
in
your
profession,
the
truth
remains:
reflection
is
the
starting
point,
and
momentum
is
the
outcome.
The
new
year
doesn’t
magically
transform
your
life
or
your
practice.
What
transforms
it
is
your
willingness
to
look
back
with
honesty,
look
forward
with
intention,
and
act
with
purpose.
You
already
have
the
tools,
the
experience,
and
the
determination.
This
year
invites
you
to
step
up,
not
by
doing
more,
but
by
doing
what
matters
most.

---

Ruby
L.
Powers is
a
Board
Certified
immigration
attorney
and
founder
of
Powers
Law
Group,
P.C.,
a
full-service
immigration
law
firm
in
Houston,
TX.
She
has
over
16
years
of
experience
in
law
practice
management.
She
is
the
author
of Power
Up
Your
Practice and
AILA’s Build
and
Manage
Your
Successful
Immigration
Law
Practice.
Through
Powers
Strategy
Group,
she
provides
consulting
and
hosts
the Power
Up
Your
Practice podcast.
She
serves
on
various
boards including
the
ABA
TECHSHOW
and
Mobile
Pathways. Ruby
empowers
attorneys
with
strategies
in
legal
innovation
and
business
growth—helping
them
build
client-focused,
efficient,
and
thriving
law
firms. 

This
bonus
season
has
been
a
mad
dash
to
match
the
Cravath/Milbank

year-end
and

special
bonuses
that
have
become
the
market
standard,
and
as
it
turns
out,
we’re
just
now
hearing
about
one
of
the
early
adopters
of
the
prevailing
bonus
scale.
Back
in
November,
one
of
Biglaw’s
most
successful
firms
gave
associates
a
lot
more
to
be
thankful
for,
just
before
Thanksgiving.

Sources
tell
us
that
on
November
24,
Morgan
Lewis
—
a
firm
that
brought
in
$3,098,511,000
gross
revenue
in
2024,
putting
it
at
No.
10
on
the
Am
Law
100
—
announced
that
it
would
be
matching
the
prevailing
market
rate
for
both
year-end
and
special
bonuses.
On
top
of
all
of
that
cash,
we’ve
been
told
that
associates
with
outstanding
performance
are
eligible
for
additional
“extraordinary”
above-market
bonuses.
Here’s
what
the
year-end
and
special
bonuses
look
like
at
the
firm:

• Class
  of
  2024
  –
  $20,000
  /
  $6,000
• Class
  of
  2023
  –
  $30,000
  /
  $10,000
• Class
  of
  2022
  –
  $57,500
  /
  $15,000
• Class
  of
  2021
  –
  $75,000
  /
  $20,000
• Class
  of
  2020
  –
  $90,000
  /
  $25,000
• Class
  of
  2019
  –
  $105,000
  /
  $25,000
• Class
  of
  2018+
  –
  $115,000
  /
  $25,000

Associates
at
the
firm
will
see
their
bonuses
come
January
2026.
Congratulations
to
everyone
at
Morgan
Lewis!

Remember
everyone,
we
depend
on
your
tips
to
stay
on
top
of
compensation
updates,
so
when
your
firm
announces
or
matches,
please
text
us
(646-820-8477)
or email
us (subject
line:
“[Firm
Name]
Bonus/Matches”).
Please
include
the
memo
if
available.
You
can
take
a
photo
of
the
memo
and
send
it
via
text
or
email
if
you
don’t
want
to
forward
the
original
PDF
or
Word
file.

And
if
you’d
like
to
sign
up
for
ATL’s
Bonus
Alerts
(which
is
the
alert
list
we
also
use
for
salary
announcements),
please
scroll
down
and
enter
your
email
address
in
the
box
below
this
post.
If
you
previously
signed
up
for
the
bonus
alerts,
you
don’t
need
to
do
anything.
You’ll
receive
an
email
notification
within
minutes
of
each
bonus
announcement
that
we
publish.
Thanks
for
your
help!

---

Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to

email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.

In
a
Friday
letter,
a
group
of
pharmacy
organizations
called
on
Congressional
leadership
to
take
action
on
pharmacy
benefit
manager
reform.

The
organizations
included
in
the
letter
are
the
National
Association
of
Chain
Drug
Stores,
the
National
Community
Pharmacists
Association,
the
Food
Industry
Association,
the
National
Grocers
Association,
the
American
Pharmacists
Association
and
the
National
Association
of
Specialty
Pharmacy.
The
letter
was
addressed
to
House
Speaker
Mike
Johnson
(R-Louisiana),
House
Minority
Leader
Hakeem
Jeffries
(D-New
York),
Senate
Majority
Leader
John
Thune
(R-South
Dakota)
and
Senate
Minority
Leader
Chuck
Schumer
(D-New
York).

PBMs
have
come
under
a
lot
of
scrutiny
in
recent
years
due
to
their
vertical
integration
with
insurers
and
practices
that
inflate
drug
prices.
The
top
three
PBMs
—
CVS
Caremark,
Cigna’s
Express
Scripts
and
UnitedHealth
Group’s
Optum
Rx
—
control
about
80%
of
the
prescription
drug
market. 

Numerous
efforts
have
been
attempted
to
reform
PBMs,
though
with
little
success.
For
example,
in
December
2024,
the
federal
government
almost
passed
a
spending
bill
that
would
have
cracked
down
on
PBMs,
but
this
provision
was

taken
out
at
the
last
minute. 

“Since
Congress’
near‑win
on
PBM
reform
in
December
2024
—
another
missed
opportunity
that
fell
just
short
of
enactment
—
the
devastation
of
pharmacy
access
for
patients
and
communities
has
only
worsened,”
the
letter
stated.
“In
the
months
since
that
lost
attempt
to
help
solve
the
problem,
pharmacies
have
closed
at
an
alarming
net
rate
of
more
than
six
per
day,
an
acceleration
of
the
nearly
four-per-day
net
closing
rate
of
2023
and
2024.”

The
organizations
added
that
in
just
the
last
year,
more
than
2,200
pharmacies
have
closed
and
Americans
have
lost
more
than
13%
of
their
pharmacies
since
January
2018
on
a
net
basis.

“The
failure
to
curb
harmful
PBM
practices
is
no
longer
a
crisis
in
the
making
—
it
now
constitutes
a
crisis
unaddressed.
…
Without
PBM
reform,
patients
are
experiencing
inflated
drug
costs,
and
many
no
longer
have
access
to
the
pharmacy
of
their
choice
as
pharmacies
close
and
others
are
pushed
out
of
network.
Americans
expect
Congress
to
address
these
perils,”
they
said.

Specifically,
the
coalition
called
for
the
following
reforms:

• Medicaid
  managed
  care
  pharmacy
  payment
  reform
  and
  a
  ban
  on
  spread
  pricing,
  in
  which
  a
  PBM
  charges
  payers
  more
  than
  they
  pay
  the
  pharmacy
  for
  a
  medication
  and
  then
  keeps
  the
  difference
  as
  profit.
• Requiring
  CMS
  to
  define
  and
  enforce
  fair
  Medicare
  Part
  D
  contract
  terms
  and
  ensure
  true
  “any
  willing
  pharmacy”
  participation.
• Banning
  PBM
  compensation
  in
  Medicare
  Part
  D
  from
  being
  linked
  to
  the
  list
  price
  of
  a
  drug.
• Promoting
  greater
  transparency
  in
  insurer
  claims
  and
  reimbursement
  practices
  provided
  to
  pharmacies.

“As
Congress
approaches
key
deadlines,
we
respectfully
request
that
PBM
reform
be
included
in
the
next
appropriate
moving
vehicle
or
advanced
as
a
stand‑alone
measure,”
the
organizations
wrote.
“The
consensus
is
broad,
the
policy
is
developed,
and
the
consequences
of
inaction
are
compounding.
We
stand
ready
to
assist
with
swift
enactment
and
implementation.”

This
letter
comes
shortly
after
a
bipartisan
bill
was

introduced
in
the
Senate
this
month
called
the
PBM
Price
Transparency
and
Accountability
Act.
It
includes
several
provisions,
including
delinking
PBM
compensation
from
negotiated
rebates
and
increasing
reporting
requirements
for
PBMs
to
Medicare
Part
D
plan
sponsors
and
HHS.

Photo:
gerenme,
Getty
Images

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