Who Wants Partnership Anyway?
A law firm strategy consultant at Altman Weil talks about a new generation of lawyers who are largely uninterested in partnership. At the same time that equity partnership has become less attainable at many firms, it is also considered undesirable by many associates. And attaining the brass ring is no longer a guarantee that you getto keep it. Partners need to continue to contribute to their firm’s bottom line if they want to remain in the partnership.
Ironically, though, it is partners with portable billings who have the greatest amount of mobility. This is particularly true in our current economy where demand for lateral associates is very low at the moment. (See Lateral Market is Officially Flooded).
But things can change quickly. My own personal prediction is that the second half of 2009 will be booming with litigation and demand for litigation associates.
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Related posts:
- Next Stop Partnership
- It’s Who You Know
- Lawyers Losing Interest in Partnership
- Is it Too Late to Switch Practice Areas?
- Sixth Year Associate in Good-Standing at Branch Office of Large Firm Wondering Whether He Should Consider Moving to a Firm with Better Opportunity for Partnership
- A Note (or Wake-Up Call) to Mid-Level Associates
