Partners

Welcome Partners

One of the most difficult decisions any partner faces is whether to make a lateral move. Unlike associate lateral moves, which are relatively straightforward, the issues facing partners are far more complex and the process can take four to six months, sometimes longer.

Five important factors to consider include:

1) Platform: Will the new firm be able to support your current practice or, better yet, offer synergies that will allow you to further develop your practice?

2) Compensation: Will the new firm’s compensation structure complement your own practice? Will you be rewarded for continuing to develop your practice in the manner you prefer and have grown accustomed to, or will you be forced to change your practice or style in order to achieve your compensation goals?

3) Billing: Is the new firm’s billing structure consistent with your current billing rate?

4) Conflicts: Are there potential conflicts between your existing clients and the new firm’s clients?

5) Culture: Is the “culture” of the new firm in line with your expectations?

Unfortunately, in many cases, the main criterion partners focus on when evaluating other opportunities is the potential new firm’s Profits Per Partner listed in The American Lawyer’s annual survey of law firm revenues and profits. Many partners eliminate firms from consideration solely because the firm’s Profits Per Partner is lower than their current firm’s. Although a firm’s Profits Per Partner is important, very few partners realize that no independent entity is verifying those numbers. We as recruiters have a firm understanding of our marketplace and we are happy to share specific information with partners that are sincerely interested in making a move.