Law firm leaders at the firms, with between 100 and 450 lawyers, say their better fortunes are mainly tied to being less dependent on capital markets and big mergers and acquisitions work than their megafirm brethren. Less expensive overhead, lawyers with broader skill sets and lower billing rates have also helped the Midwest firms escape the need to ax employees and expenses, unlike their coastal and big-city counterparts.
Nyemaster, Goode, West, Hansell & O’Brien in Des Moines, Iowa; Clark Hill in Detroit; and Barnes & Thornburg of Indianapolis are among the Midwest firms avoiding major cutbacks and steadily continuing to hire lawyers, if not as aggressively as in years past.
