Now’s the time to make sure you are at the right platform!
And here’s how to tell…
I have a few candidates I’m in touch with that I’ve known since I started my career as a legal recruiter.
While some of these candidates have made partner already, some have not. I’m encouraging them all to take a look at their careers and ask the hard questions (partner or not).
Here’s what I’d ask:
Is this the best platform for my practice?
Is the firm encouraging me to develop a practice?
Is my practice area growing, staying steady or shrinking?
What’s happened to deal flow? Has it slowed down?
Do I have the support I need from my mentors? What about from junior associates and mid levels?
Is my firm looking to grow in these uncertain times or are they just looking to survive?
Don’t wait for the recession to be over to do “the work.”
Many firms are still growing right now and are actively pursuing their strategic plans, even throughout the recession.
As always, I want to encourage you to do what’s best for your career because no one is going to look out for you except for you.
Even if you’re represented by a different recruiter or have no immediate plans to move, I encourage you to reach out so we can go over these questions. I love having these conversations and helping candidates find clarity with their long-term goals.
I hope that I got you thinking!
As a legal recruiter, I’m fortunate to spend time discussing attorneys’ careers, goals, achievements and at times, what they find challenging about their work. M&A is one of the best corporate practices for long-term growth and exposure. Here’s the lowdown:
M&A provides the greatest amount of exposure to different types of work. M&A lawyers are able to work on deals from the initial stages to completion. This provides an in-depth view of the inner workings of the deal. Transactional lawyers not only work on documents, but engage with clients on a regular basis. The day-to-day work varies depending on the stage of the transaction.
Further down the line, as you get closer to executing these transactions, you may start to get into the weeds with negotiations & the art of the deal. Many partners that I speak with consider themselves to be “deal junkies,” as they truly love the intricacies of having a successful acquisition. When choosing a practice area, consider M&A as the broadest practice where you will have the most options to pivot in your career. The skills are transferable & highly sought out in other practice areas.
I’ve said it before and I’ll say it again…
It’s no secret that Florida has become a major financial center and in legal terms “a major market.”
Many large firms with offices down there have started to pay New York compensation(!) and are drawing a huge influx from Northeast talent.
With its big banks, tech companies, entrepreneurs & crypto companies, if you’ve ever considered moving there, now’s the time…
According to a recent “Above the Law,” article, many Biglaw firms are opening shops there including Kirkland & Ellis, Quinn Emanuel, King & Spalding and more.
Something to think about…
All other variables aside, could your chances of advancing be better in New York (a super saturated market) or Miami/Palm Beach (up and coming)?
My guess is if you have the opportunity to be a big fish in a smaller pond, you’re ultimately giving yourself a leg up, long-term.
Just some food for thought, but if I’ve gotten you thinking, please don’t hesitate to send me a message and we can see if a move to the Sunshine state makes sense for you.
When you start your career at a law firm, you’re joining as a junior associate. No matter how much experience or development you make at the firm, some senior associates and partners may never see you as more than that.
Perspective is everything. While you may still be thought of as the junior associate at your own firm, once you send your resume and deal sheet around, attorneys at other firms will see you for who you actually are….
A rockstar candidate with partner potential.
Your personality will be fresh and you may offer a unique set of skills to this new firm.
Just because you’re not on the partner track at one firm, it does not mean you wouldn’t make partner at another one.
Your mindset is a very powerful thing. You’re perceived the same way as you think of yourself. You can change your mindset if you change your environment. My advice is not to just leave your firm because of the reasons I outlined above, but to be mindful of the way you’re perceived.
And you’re smart. Read the writing on the wall.
If you get the sense that you’ll never be on the partner track at your current firm, it’s best to move on and “reinvent yourself” at a new firm. The fresh perspective brings new opportunities for growth and oftentimes, partnership.
Let me know what you think about the idea of partner mindset. Do you have it?
I believe in the benefits of getting a great offer. An offer not only provides you with an exit route, but it also gives you a measure of where you stand in the current marketplace. Personally, I haven’t seen many cases of someone successfully USING an offer to ultimately get everything they want at their current job. While I have seen cases where it does work out, it is few & far between & tends to put a negative association on you at your firm.
Here are some reasons to throw your hat in the ring, especially in a market that’s SO ROBUST:
- CONFIDENCE BUILDING: who doesn’t like knowing that they’re wanted by another firm?
- ADDITIONAL INTEL: exploring your options at other firms gives you a stronger handle on the market & what you could bring to the table elsewhere.
- APPLIES POSITIVE PRESSURE ON YOURSELF: it forces you to examine your situation & hold yourself accountable to your success.
- SCAFFOLD YOUR GROWTH: checking in on your professional growth in this ever changing landscape is the only way to achieve your long-term goals.
There’s nothing wrong with strategically gauging the market. You know you’re a valuable asset to your firm, but does your firm know it too?
We’ve all heard the expression “it’s not personal, it’s business,” right? It’s a nice sound bite, but I find it rather untrue, especially when it comes to negotiations. If you’re truly committed to your career, every decision you make affects you in a very personal way. And if you’re negotiating for the terms of your comp package, you better believe it’s personal.
It’s critical to convey real life examples to substantiate why you need more money. Negotiating without them makes your asks seem unfounded & paints you as greedy. If you depict your personal life accurately, you’ll definitely see your negotiating power increase with the firm. You’ll also appear more human, likable & worthy of the money.
Are you planning a wedding? Have a mortgage or student loans? Buying a house? Do you have kids & and if so, how many? Personalize your negotiations and you’ll ultimately get much further in them.
