NYLJ Report: Mid-Size Firms Prove Attractive in Tight Economy

In a report published in its October 19 edition, The New York Law Journal reported that the lower associate-to-partner ratios and rational billing models used by mid-sized law firms have been attracting significant client attention in an economy focused on cost-savings and efficiency. The report contrasted the adaptability of mid-sized firms with the inherently more expensive models typical of large law firms. Interviewed for the report, David Scherl, Chairman and Managing Partner of Morrison Cohen, said that in "the unleveraged model used by many smaller and mid-sized firms, associate-to-partner staffing ratios are more likely to be one-to-one, with partners actively involved in working the laboring oar alongside their associates. One obvious advantage to this model is that clients can regularly access the more experienced partner; partners are not merely limited to supervisory functions." Mid-sized firms, Mr. Scherl said, ideally fill a niche even for the largest institutional clients. "A lot of the large financial institutions are getting internal mandates to check out Morrison Cohen - general counsels know that we are on the approved list and they know that we are rationally priced," he said, noting fees that are between 20 or 30 percent less than the competition. "We don't have to do the billion dollar deals, we are very happy doing the middle market work."

In connection with its report, the newspaper also published a separate analysis provided by Mr. Scherl. Click the .pdf below.