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Big Law’s Addiction to ‘Prestige’ Numbed by Pandemic (Podcast)

Oct. 19, 2021, 7:47 PM

For his 100th column for Bloomberg Law, Roy Strom looked back at the seismic changes that have taken place in the legal industry during the pandemic. He says the pandemic has shown many of the country’s biggest law firms that there is much more to Big Law than chasing prestige.

Law firms are now opening satellite offices in Salt Lake City and Austin, Texas. And we’ve seen Big Law continue to move away from lockstep compensation, which many in the industry now consider an anachronism. Additionally, the mindset of prizing revenue above all else is starting to fade as well.

Roy Strom joins this week’s episode of On The Merits to talk about Big Law two years later.

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To contact the reporter on this story: David Schultz in Washington at dschultz@bloombergindustry.com

To contact the editors responsible for this story: Josh Block at jblock@bloombergindustry.com; Cheryl Saenz at csaenz@bloombergindustry.com

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