CEO Tim Ryan discusses changes in the Pittsburgh legal market with The Legal Intelligencer
June 18, 2015
Firm CEO Timothy P. Ryan spoke with The Legal Intelligencer about changes in the Pittsburgh legal market relating to equity and non-equity memberships. The article “Pittsburgh Legal Market Shedding Partners, Wrestling With Change,” which appeared on June 18, explores a national trend of law firms reducing their number of non-equity partnerships – and whether Pittsburgh has joined the trend.
Ryan said there are changes afoot in the Pittsburgh market, but the amount of work is not shrinking. Rather, he said, it is migrating to different forms.
“I think this is still a tremendously opportunity-rich environment,” Ryan said of Pittsburgh. “There is a perception that there is a certain band of work, perhaps toward the top of the food chain, that may be less available, and that those coastal or intergalactic firms that have been pursuing higher-rate work may have less opportunity to extract that higher-rate work than in the past.”
In reality, the large companies in Pittsburgh are becoming more rate-conscious and moving to other firms with better rate structures, Ryan explained.