Overview

This article from recruiters Edwards Gibson is written for senior associates and senior non-partner lawyers to help them weigh up the likelihood of securing partnership at their firm - or to help them seek partnership elsewhere.
It looks in detail at the criteria one can use to determine where one realistically stands in relation to partnership at one’s current firm, and also explores the nature of the assistant partnership track.

CONTENTS

• Definition of partnership

• Why partnership should be important to you

• Partnership promotions – some unsettling statistics

• How to determine if you are currently “on track” at your current firm
(i)Indications from your firm
(ii) Partner to assistant leverage
(iii) Departmental structure and organic growth track record
(iv)“Political shenanigans”
(v)The economy and market demand for your practice area
(vi) The ratio of equity to salaried partners at your firm

• Your “sell-by date”

• Your options:
(i) If you have a following
(ii) If you do not have a significant following

• General factors to consider in a target firm

• Looking for consistent statements on firm and departmental strategy

• Looking at how billings are attributed

• “Trading up” and “trading down”

• How to make the move:
(i) Writing a business plan
(ii) Contacting firms yourself
(iii) Recruitment consultants and head-hunters