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Porter & Hedges announces new salary structure

Houston-based Porter & Hedges has increased associate salaries to a $135,000 base pay, plus up to $5,000 in bonuses.

Retroactive to January 1st, second-year associates at the firm will receive $145,000 and earn up to $10,000 in bonuses. Salaries for third- to sixth-years will range from $150,000 to $170,000, while prospective bonuses will range from $20,000 to $50,000. A 2,050 billable hour minimum has been established for bonuses.

Senior associates at the firm will be not be grouped into yearly classes but will instead fall under the category of senior associate. The new salary and bonus structure for senior associates has not yet been announced.

The firm's 50 associates will receive higher pay for their April 1st paycheck, but the retroactive portion of the raises will not be paid until the summer.

03-31-2006

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Law firms seek diversity

Law firms across the U.S. have taken significant steps to build diversity, including forming special committees to recruit and retain minority and female attorneys. The task can be daunting, not only to implement but to maintain, as many mid-sized firms are discovering.

While firms are building a diverse workforce, studies have shown that law firm diversity depends mainly on two factors. Larger, coastal markets have an edge, as their populations are more ethnically diverse. Secondly, minority attorneys are more likely to be attracted to firms in the top-10 legal markets and firms ranked in the top-100 since they are more likely to offer a diverse staff.

Experts say law school recruitment is the solution to this critical problem. The NALP reports that the percentage of minority law school graduates has doubled since the 1980s, from 10% to 20%, and the number of female graduates now outnumbers males.

Analyzing the demographics of 1,425 law firms, the NALP reported that women comprised about 44% of associates and 17% of partners. African-American, Asian/Pacific Islander, American Indian and Hispanic attorneys represent about 16% of associates and 5% of partners.

03-31-2006

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Legal guide for Gulf Coast post-Katrina

One of the largest law firms in the South, Butler Snow O'Mara Stevens & Cannada, has issued a guide called "The Gulf Opportunity Zone Act of 2005: Benefits Available to Businesses," which outlines incentives for businesses seeking to rebuild, expand or begin operations in the Gulf Coast, which suffered the brunt of Hurricane Katrina.

According to the guide book, parts of Alabama, Louisiana and Mississippi, nicknamed the "Gulf Opportunity (or GO) Zone," are eligible for federal benefits, such as bonus depreciation, tax-exempt financing and five-year net operating loss carry back. The guidebook also highlights additional incentives offered by the Mississippi State government.

The guide is written by Butler Snow's attorneys, who are actively participating in recovery efforts, including advising businesses who seek to benefit from the GO Zone legislation.

03-31-2006

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Higher demand for first-year students

According to recent studies, first-year law student recruiting has increased significantly over the past few years. A growing number of law firms are inviting first-years into their summer associate programs.

According to the National Association for Law Placement (NALP), recruiting of first-year students has increased by almost 12% since 2004. The increase was more pronounced at larger firms with more than 500 attorneys, where nearly 114 law offices brought in first-year students, a 24% increase over 2004's figures. The surveyed firms collectively employed 920 first-years in 2005, as compared to 790 in 2004. Overall, 63% of these first-years received an offer to return for at least part of the summer 2006 program.

The chances of securing future employment are much better for second-year law students. Experts believe that this is because firms are not able to assess the academic performance of first-years as easily as second-years.

03-30-2006

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First-years at Jenkens & Gilchrist will now make $140,000

Jenkens & Gilchrist has become the latest Texas-based firm to raise associate salaries. First-years at Jenkins & Gilchrist will now earn $140,000 per year.

Matching associate salaries at major New York and California firms, the new raise will apply to all of the firm's offices in Austin, Houston, San Antonio, Dallas, Chicago, Los Angeles, Pasadena and Washington, DC.

The majority of Texas' largest firms have already announced similar associate salary increases. These include Vinson & Elkins, Baker Botts, Andrews Kurth and Akin Gump. Fulbright & Jaworski remains an exception, but they are currently considering raising entry-level salaries.

03-30-2006

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Cochran Firm to merge with Leeds Colby

The Cochran Firm's Miami office will merge with Leeds Colby Paris Spence Hoffman & Valori in Miami, effective May 1.

The new office will continue its operations under the name of The Cochran Firm in the areas of personal injury, medical malpractice, vehicle and truck accident, police brutality, products and premises liability, mass torts, nursing home negligence and environmental litigation. Scott W. Leeds, Jonathan T. Colby, Jack Paris and J.B. Spence, Leeds Colby attorneys, will be joining Cochran, boosting the firm's South Florida presence.

The firm plans to double its number of employees by next year and to launch satellite offices in Orlando, Naples and Fort Pierce within the next 18 months.

03-30-2006

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Pepper Hamilton to form alliance with The Abraham Group

Pepper Hamilton and The Abraham Group have entered into a strategic alliance to provide a comprehensive range of legal and business consulting services, focusing primarily on the energy sector.

The announcement was made by chairman and CEO of The Abraham Group Spencer Abraham and Pepper Hamilton executive partner Robert E. Heideck. The Abraham Group will provide free consulting to Pepper Hamilton's clients, as Pepper Hamilton lacks a large, dedicated energy practice.

Pepper Hamilton is a multi-practice law firm with 400 lawyers in six states and the District of Columbia. The Abraham Group is an international strategic consulting firm that assists energy clients seeking opportunities or solutions in the United States and the global market.

03-30-2006

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