In the Media
What’s Keeping Law Firm Leaders Up At Night In 2025
Read Time: 1 minMcGlinchey’s Managing Member, Michael Ferachi, was interviewed by LAW360 on January 1, 2025, in “What’s Keeping Law Firm Leaders Up At Night In 2025.” He discussed what the field of law looks like in 2025 and what leaders are on the lookout for.
Law firms of all sizes are focusing on ensuring they have all the lawyers necessary to meet client needs in the new year. But that pressure is especially strong for small and midsize firms, as BigLaw salaries have increased rapidly in recent years, upping the competition for talent in the industry.
“We are focused on adding attorneys who want to practice at a midsize law firm with an entrepreneurial spirit and a large geographical reach, while also retaining our attorneys from moving to BigLaw,” said Michael Ferachi, managing member of 170-lawyer McGlinchey Stafford PLLC. “Trying to retain our folks, who BigLaw tempts with BigLaw salaries, always brings its own share of insomnia.”
The desire and the pressure to add attorneys can cause sleepless nights as he worries about whether the firm is making the correct investments, Ferachi said, but “it’s exciting when we see a return on our investment in growth.”
Ferachi said generative AI is a driver of both fear and excitement at his firm. He said McGlinchey Stafford has been experimenting with some generative AI tools, but like many other midsize firms, it hasn’t implemented them as quickly as some global giants.
“Everyone knew it would be revolutionary and that the revolution would be fast, but it feels even faster and more expensive than many predicted,” Ferachi said.