Midsize law firms in the Midwest, outside the biggest cities, are hiring lawyers, opening offices and bringing on new associates this fall as they fare better than many larger urban rivals in the face of the recession.
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.
