By Jakub Lewkowicz
The Daily Record Newswire
Opening a solo law practice in today's economy and competitive market may seem like a daunting endeavor. But while it's not for everyone, some solo practitioners have built successful practices while enjoying autonomy.
As big law firms started downsizing in 2008 and continued to lay off workers over the following years, many attorneys flocked to solo practice whether they wanted to or not.
"Large firms are downsizing because companies don't want to pay billable hour rates or to train the associates," said Meredith Miller, associate professor of law and director of solo and small practice initiatives at Touro Law Center in Central Islip, New York.
Ostentatious law firms suddenly took on a more frugal approach. In a Bloomberg News article entitled "Big Law Still Needs to Get a Lot Smaller," the demand for expensive lawyers has declined, and clients are searching for alternatives to hourly rates, insisting on less pricey service.
Currently, 70 percent of American lawyers in private practice are in small firms or solo practice, Miller said. The Internal Revenue Service's article "Income Data for Partners and Solo Practitioners" in industry publication Above the Law indicates that solo practitioners earn less than firm partners and have seen their average earnings drop in recent years. But some solo practitioners have fared better than their counterparts at firms with multiple partners.
Gary Port, who started a partnership, Port and Sava, said he left a midsized law firm in Manhattan because he didn't feel that the billing rates for clients were honest and because of his work environment preferences.
"Some people are great in the law firm mentality but I just don't have that mentality," Port said.
The desire for autonomy is often a driving factor to go solo.
"I didn't want to just handle the cases that were brought to me at a firm," said Adam D'Antonio, owner of D'Antonio Law in Garden City. "I wanted to broaden my experience and my practice areas."
Solo practitioners can make alternative billing arrangements to suit the client rather than just charge to meet the demands of a firm, encouraging more people to consider hiring a lawyer.
However, running a solo practice is not for the faint of heart. It requires individuals to take on total responsibility of their reputation and finances, which can be an advantage or disadvantage depending on their skills.
"It's a very different way of practicing and it's one thing to know the law and be smart but a whole other thing to run a business," Miller said.
There are ways to limit overhead, including efficient use of technology and the choice of office location.
"A guy in Manhattan has to pay much higher rent than a guy in Lynbrook," Port said.
Certain areas of law are in higher demand than others, leading to a greater number of solo practitioners in those areas. For example, bankruptcy and foreclosure was a big area during the recession, according to D'Antonio.
"Matrimonial law is a big one because the divorce rate is unfortunately quite high," said Melissa Negrin-Wiener, a partner at Genser Dubow Genser & Cona, adding that elder law and estate planning are growing exponentially as baby boomers approach retirement age.
Networking is key to promoting oneself as a solo practitioner. Solo practitioners participate in bar association events, attend community meetings, speak to groups on areas related to their expertise, contribute to articles on related topics and advertise, which can be as simple as setting up a professional website. Profiles on social media can also help, said Miller, who said she has even seen lawyers advertise on Craigslist.
Whereas experienced attorneys know how to navigate the field efficiently and have the connections to garner clients, times are still tough for recent law school graduates.
Even though law school graduate employment within nine to 10 months of graduating rose slightly, from 67 percent in 2013 to 71 percent in 2014 (for positions that require passing the bar examination or that prefer a law degree and are full-time and long-term, lasting at least one year, according to the American Bar Association), The New York Times attributed this to a smaller number of law school graduates rather than a more welcoming hiring market.
"I would never advise [graduates] to start on their own," D'Antonio said. Being mentored by an older attorney and getting involved with bar associations are ways to gain experience and inject oneself into the law community. Looking for jobs as a paralegal and working up from there is also a choice, Negrin-Wiener said.
Some schools are taking a more involved approach in landing jobs for their graduates, according to Negrin-Wiener. For example, the Thomas Jefferson School of Law in San Diego started a Lawyer Incubator Program to help those who want to start their own practice. Nevertheless, law school applications are set to hit a new low, with a 6.7 percent drop from 2014 to 2015, according to The Law School Admission Council.
Published: Fri, Jul 24, 2015
