Ronald Shechtman, Pryor Cashman’s Managing Partner and Chair of the Labor + Employment Group, spoke with The American Lawyer about the advantages firms like Pryor Cashman have when setting billing rates for client work.

In “Can Second Hundred Firms Gain Ground on ‘Price-Insensitive’ Practice Areas?,” Ron notes that midsize firm billing rates can be a lateral recruiting asset:

“We recruit lawyers who come here because they can’t grow their mid-market practice at larger firms,” said Ronald Shechtman, managing partner and labor and employment group chair of Second Hundred firm Pryor Cashman. Shechtman said a practice with “$1,600 hourly rates would be able to bill at a substantially different rate here.”

He also points out that in a changing legal industry, Pryor Cashman and similar firms can compete more directly with bigger firms:

Shechtman said Pryor Cashman meets a “different need” for Fortune 100 clients than larger firms, pointing to IP, employment and executive compensation matters. In certain areas of litigation where the firm has a special “preeminence,” Shechtman said the firm competes for the same clients as Big Law.

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