While a law firm’s failure is never welcome news for its lawyers, new research suggests it’s not the career-killer that some might think, Roy Strom writes in his latest Big Law Business column.

Yale Law student Andrew Granato dug into the collapse of Dewey & Leboeuf and tracked down where the associates and partners wound up as of late 2022.

It turns out that former Dewey associates became partners at Am Law 100 firms at nearly the same rate as associates at competitor firms that didn’t fail. Of the 93 Dewey associates, 19% became Am Law 100 partners, compared with 26% of the 353 associates at competitor firms. Read More

• Paul Weiss reportedly is considering tinkering with the firm’s partner compensation system, including potentially creating a non-equity tier. (The American Lawyer)
• Former US Supreme Court clerks are finding a new type of path for their post-clerkship careers: litigation finance companies. (Law.com)
• White & Case was the fastest-growing law firm in Africa by employee headcount between 2019-2022, new research shows. (Global Legal Post)

Read these and other legal industry stories in today’s Wake Up Call. Read More

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