AmLaw 200 Ranking: #64

Katten Muchin Rosenman LLP

FIRM OVERVIEW

Based in Chicago, Katten Muchin Rosenman LLP employs more than 600 attorneys in seven U.S. offices and a London affiliate.  Katten is a full-service law firm with seven "core" practice areas and fifteen "specialized" practice areas.  The firm's core practices are litigation, corporate, real estate, commercial finance, intellectual property, financial services, and trusts and estates.  Almost one-third of the Fortune 100 are clients of the firm.  Lateral Link Members describe Katten as "reasonably family friendly" and a place with "sophisticated work" and "great people."  Some of Katten's drawbacks include "lack of structure" and "low bonuses, [with] not as many perks as other firms."



Chambers Top Departments:

Wealth Management; Transportation: Aviation Finance

Compensation (Salary and Bonus)

Compensation

Until March 2009, Katten paid market salaries on a lock-step system. Since then, the firm has frozen salaries and also implemented a pay reduction for some attorneys.  Although it may be temporary, Katten also reduced salaries by 20% for those attorneys who did not bill within 200 hours of their billable target (2000) in 2008 and those who did not work at a similar pace for the last three months of the fiscal year (ended March 31, 2009).  

 

billed fewer than 1,800 hours in 2008 and those who billed fewer than 435 hours in the first quarter of 2009.

Associate Experience

Associate Experience

Katten offers monthly training and development opportunities.  In addition, Katten has a formal mentoring program.  Lateral Link Members find that "the firm fosters associate growth and development," and that "the firm does a good job generally [with associate development], but it is very dependent on your practice group and the partners you work for."  In some departments, work is assigned through an assigning attorney, while other departments operate on a free-market system.  The firm has a customized online system that allows assigning attorneys to evaluate each attorney's performance.  Associates are formally reviewed twice a year by their department head.  The firm was named one of Working Mother's 100 Best Companies to Work For as well as ranked one of Yale Law Women's "Top Ten Family Friendly Firms" in 2009, and is one of the Top 100 Law Firms for Diversity, according to MultiCultural Law Magazine.  Katten has implemented two rounds of layoffs since October 2008.  In the first round, Katten terminated ­­21 attorneys, and in March, twelve associates and seven non-equity partners were let go.  

Billable Hours

Billable Hours

The firm requires a minimum of 2,000 billable hours.  If this minimum is not met, salary and bonus may be affected.

Face Time and Vacation Policy

Face Time and Vacation Policy

Most Lateral Link Members agree that attorneys are expected to be in the office during normal working hours.  Lateral Link Members find that "face time varies from partner to partner" and that the firm "is very flexible as long as [associates] get [their] work done."  The firm offers four weeks of vacation time, and Lateral Link Members report using at least two weeks of vacation annually.  In addition, the firm also offers associates a one month paid sabbatical after the fifth year.

Pro Bono Policy

Pro Bono Policy

Although Katten does not require associates to participate in pro bono work, the firm counts up to 100 hours of pro bono time towards billable hours and bonus consideration (additional hours may count, if approved).  In addition, many attorneys and staff volunteer for local community service programs and charitable activities sponsored by Katten.

Partnership Prospects

Partnership Prospects

Katten has a two-tier partnership system.  Attorneys are up for consideration after seven-and-a-half years.  Most Lateral Link Members believe that partnership is an achievable goal at Katten, while some believe it is a long shot, regardless of how hard they work.

Benefits (including New Associate Benefits)

Benefits

The firm covers BAR/BRI costs and exam expenses as well as certain moving expenses for new associates.  If an associate leaves within 12 months, he or she is required to pay back the firm.  In addition to a comprehensive benefits package, Katten offers a subsidized cafeteria in Chicago and New York, free soda machines, and a discounted membership to Equinox Fitness in New York.

Summer Associate Program

Summer Associate Program

Summer associates at Katten are assigned work in various practice areas by an attorney coordinator and are expected to complete between 10 to 15 assignments during the summer. In addition to a junior associate mentor, summer associates are paired with assigning attorneys to ensure that they receive work in their areas of interest. Lateral Link Members confirm that they receive "real work throughout the firm's more than 10 practice areas" and say that the coordinators and assigning partners are "fantastic and a great/comfortable resource." Summer associates are given mid-summer and end-of-summer evaluations from the assigning attorney and one of the partners in charge of the summer program; however, one Lateral Link Member notes that there can be a "lack of significant feedback" on completed work product. Summer associates are provided with BlackBerrys, and the firm holds weekly training sessions during the summer. Lateral Link Members in the firm's summer program report that although they are expected to be in the office during normal working hours, they generally leave by 6:00 p.m. and do not work on weekends. The firm provides a $25 lunch budget, and summer associates can attend an unlimited number of attorney lunches. Social events are held weekly and include Broadway shows, a cooking challenge, and dinners. Katten's 2009 summer program was cut to eight weeks and summer associate pay was cut by 20%. Although initially deferring the start date for incoming associates to February 1, 2010, Katten announced that the start dates for a handful of new associates would be moved up to October 2009.  However, the firm subsequently announced that offers for one-third of the incoming class would be permanently rescinded.  Another third of the class will start in February 2010, and the last third in October 2010.

Announcements:
Lateral Link and Above The Law team up to launch a brand new Career Center
Sponsors:
Gibsonlogo Irell-logo1