Isaak, Johnson, Jones Discuss the Importance of Billing Rates and Competitive Advantage in Lateral Moves to Mid-Market Law Firms

In a recent article, Misha Isaak, Tom Johnson, and Melissa Jones shared their thoughts with Law.com on the factors fueling the exodus of experienced Big Law attorneys to midsize law firms.

Veteran litigators Isaak and Johnson, both of whom joined Stoel Rives from Perkins Coie in January, cited the more favorable billing rates and wider range of legal services that Stoel Rives can offer its clients as reasons for their decision to make the move.

“A lot of successful firms in middle-market communities, like Stoel Rives, are seeing real economic opportunities because of the caliber of their practice, the quality of their lawyers, and [because] their rates are rightsized to a market like Portland,” Isaak said.

Stoel Rives’ Firm Managing Partner Jones noted that although Big Law firms have expanded into secondary markets in recent years, the middle-market positioning of a firm such as Stoel helps it compete for business.

“Some firms want the talent, and some are looking to build a presence there,” Jones said. “But we feel in a very strong position because a real selling point for us is that successful laterals are looking for more reasonable rates for clients.”