UPDATE:
My original tip of the number of associates who have left Alverson Taylor was low. Apparently, 8 associates have left since the firm changed its compensation policy. That's 8 associates out of a firm of around 40 attorneys. So 20% of their staff have left the firm over the new pay-by-billable hour policy. That might give another firm pause, but I guess Alverson Taylor is so used to associates leaving the sweatshop that they have prepared to lose 20% of their attorneys.
Original Post:
Why does Alverson Taylor get so much attention? Because they provide the most fodder for blog posts. First, 5 of the 40 (or so) attorneys at the firm bailed as a result of Alverson Taylor's change in compensation method to hourly payment by hours billed. Meaning that approximately 1/8 of the associates have quit the firm due to the removal of traditional salary compensation for a by-the-billable-hour method.
If that wasn't enough news, apparently Alverson Taylor represents the "one person who can save this county". In a You Tube post, a woman named Honey Siegel dictates a video letter to the firm demanding that they revive a corporation named "People Against Corruption". Then, once the video letter to Alverson Taylor is complete, Ms. Siegel then turns her address to President Bush and states that she now controls AT&T and Country Wide Home Loans and will do good for the country. Indeed, her You Tube home page indicates she is "the one person who can save our country."
Uh. . . I'm pretty sure posting communications with your attorney publicly online may destroy any claims of attorney-client privilege.
Video of Ms. Siegel embedded in the post below.
To be honest, I thought they would lose way more than 5 associates. Maybe it's not such a bad deal.
ReplyDeleteMaybe it is also because others just have not found a firm they like yet. I can tell you that I already plan on hiring three attorneys from that firm in March.
ReplyDeleteRumor has it that Alverson Taylor may run into trouble as their associates leave and Alverson tries to reduce their final paycheck by four days as indicated. Especially since they have not applied this rule even-handedly.
ReplyDeleteActually, 8 associates have left or given notice.
ReplyDeleteWhich firms are picking up these Alverson associates?
ReplyDelete"Which firms are picking up these Alverson associates?"
ReplyDeleteActually, Alverson associates are very marketable. By not hiring laterals and treating current associates like dirt, ATMS assures themselves a high rate of turnover. This being the case, an associate who has only been at ATMS for a year or so has decent seniority and experience in matters that third and fourth-year associates at other firms are not given the opportunity to explore. Also, they are willing to work for peanuts because any pay above 80% of market is a raise.
I think that Alverson is the problem. He has control of the firm and I think he's getting ready to retire. So...he's trying to drain as much $$$ as he can.
ReplyDeleteThe other named partners aren't stupid, they know the firm's associate retention is a joke, but they probably can do little about it until the old man leaves.
My 2 cents.
I know this is way late to the Alverson debate, but can it really be said that the reason those 8 left was due to the salary change? That's a big deal, for sure, but its not like Alverson had a stellar reputation for associate retention before the change. They were losing an average of 1 or 2 associates a month already.
ReplyDelete