<p>Much has been noted on the topic of law firm associates' long and often toilsome work requirements, specifically the billable hours requirements. But what about the few that eventually get elevated to Partners? </p>
<ol>
<li>What are some examples of hours worked by Partners, other than the answer "a lot."? </li>
<li>In general, what are some key differences that separate Partners from Associates?</li>
<li>Once one becomes a partner, does work and lifestyle become much more balance-able for Partners, or is it just about the same? Can anyone speak to the supposed feeling of "life feeling much more fulfilling after all the hard grunt work has been endured and done with", if this feeling even exists?</li>
</ol>
<p>Based on my experience, generally speaking, there are 2 kinds of partners: Rainmaking partners and service partners. The former have their own client accounts; the latter do not.</p>
<p>If you are a BIGLAW partner with your own clients, life is usually pretty good. You can leave every day at 5:00; work from home a lot, etc. Your main job is to schmooze the client and delegate the actual work (and look for more clients). You can assign the most interesting work to yourself. You get to keep a nice juicy share of firm profits because if the firm doesn’t keep you happy, you can bring your clients to another firm.</p>
<p>On the other hand, if you are a service partner life can be pretty lousy. You are usually expected to bill a lot of hours and the partners above you can kick you around just like partners can kick associates around. Although you do have more autonomy than a typical associate, you are basically trapped in the firm since other firms are usually not that interested in hiring a partner who doesn’t have his own book of business. (Unless you have some in-demand area of expertise). Anyway, the firm and you both know that you can’t walk away that easily.</p>
<p>A lot of service partners are not actually partners, in the sense that they do not participate in firm profits and have little or no say in firm management. But they are held out to the world as partners, which gives them a little prestige but also makes them potentially liable for firm obligations.</p>
<p>I can confirm that lskinner is right on, though in my experience, rainmaking partners typically work some very long hours, too. </p>
<p>I have never known a rainmaking partner to leave the office at 5 p.m. too often, unless he or she is taking clients out to dinner/ballgame/other event, attending some kind of industry/legal event or planning to work from home after whatever thing is making them leave the office so early. At many firms, most partners are rainmaking partners to some extent. These partners not only bring in business, but also run/supervise all of the work for their clients. </p>
<p>I have worked many very, very late hours over the years with some very, very senior rainmaking partners on hand.</p>
<p>I agree with lsskinner, sallyawp and flowerhead. I just went through a very uncomfortable situation with a large national law firm. We wanted to designate a particular partner as the lead on a matter, but our company was “claimed” by another partner. Lawyer #2 insisted on being named as the lead assigning the work to the first partner. Lawyer #2 had worked for us on other matters in the past, but had no experience with this particular legal issue. </p>
<p>While normally the law firms handle this stuff behind the scenes, we got uncomfortable calls from both partners. Claiming us as “their client” evidently was worth a lot of $ and potentially job security within their firm.</p>
<p>My H practiced for just over 20 years with a ‘biglaw’ firm prior to moving to a GC position with a client. His hours as a partner were just as long, and he worked just as hard, as he did as an associate. This is the case with many longtime partners we know at large firms in NYC, D.C., and Toronto. I don’t know one senior partner who is able to leave the office at 5:00 ANY day, let alone every day! There’s an old saying in the legal community that practicing law is like a pie eating contest. When you ‘win’ a partnership, the prize is more pie!</p>
<p>I worked in BIGLAW for my first few years out of law school. The most senior partners – the guys who had clients – worked reasonable hours. i.e. they left by 5:00 or so, if they came in at all.</p>
<p>I concede that it may be different at other law firms. Although I am skeptical that a true rainmaker has to work long hours. Why would he? It’s not like they’re going to fire him because he didn’t bill enough hours. If his clients are happy and he’s generating substantial revenue for the firm, why would anyone care if he leaves at 5:00 every day?</p>
<p>Besides, work is a bit like romance: The person with the power in a relationship is the one who can walk away from it.</p>
<p>Anyway, the main point is that at most BIGLAW firms, the life of a junior partner is not an easy one. He is still expected to bill hours; he has more senior partners breathing down his neck; he can’t “walk” so easily; and often he is expected to start developing business. The last part bears special mention. It’s really difficult to land the sort of clients who are willing to pay BIGLAW hourly rates. And in private practice, it’s really difficult to have any kind of job security and autonomy without having your own clients.</p>
<p>I agree most with Sallyawp. I don’t know any partners leaving at 5pm unless it is for a client event. I also think client retention has become far more competitive since you were probably in biglaw, lskinner. Every firm and their dog opens branch offices in every major market and they are all after your clients. There really is no taking any client for granted like there may have been in the old days, so the rainmakers have to stay on the ball. As for the bifurcation between rainmakers and service partners in terms of billable hours, however, it remains all too true. A friend of mine, an HLS grad and quite senior, just billed a 250 hour month----in December. Thank God I was able to retire early!</p>
<p>I stopped by the office of my of my law school classmates once, and noticed he had a plaque on his wall that said, “Charter Member, 300 Club.” He explained that one of his colleagues had given it to him as a joke after he billed 300 hours in a single month.</p>
<p>Sadly, that is quite common in New York. As for my friend, I do think a 250 month is the exception rather than the rule at his level, but he’s a trial lawyer. It’s a crazy business when you are going to trial.</p>
<p>Things have changed significantly at big law firms (at least in NYC) in the last 10 to 15 years. For example, today, underproductive partners are asked to leave the partnership with some regularity. That was not the case a decade ago. Underproductive partners might have received a smaller share of the profit pie, but as long as they were harmless (didn’t hurt the reputation of the firm), they were generally allowed to linger. In addition, non-equity partnership has become a much larger piece of the partnership picture. </p>
<p>In my opinion, generally, big firm partnership today is a much more cutthroat business than it was a decade ago.</p>
<p>^^^This basically sums it up for most big firms. If you’re a partner you’re responsible for not only keeping current clients happy but also generating an expected amount of new business to grow the firm (in the past some partners just got by ‘servicing’ some existing clients). </p>
<p>If you can accomplish that by 5pm every day then yes you can go hit the golf course for a few holes after work. </p>
<p>In reality that essentially never happens and especially given that there are far more firms/lawyers looking for clients than there are clients looking for lawyers these days. …and those clients you do get now want you to do twice as much work for half the price.</p>
<p>These days it’s essentially bring in results or get out (because there are scores of people in the wings waiting for your spot) and that equals long hours. It’s no longer the “tenured” cushy position that many envision in their minds.</p>
<p>I thought this wouldn’t be the case for Wall Street firms, since most have lockstep for partnership too. But I suppose the times have changed in that regard too?</p>
<p>Lockstep partnership changed a long time ago. I don’t know any firms at which you will automatically make partner as long as you hang around and put in your time. The exception is when you have a very powerful partner who can’t live without you.</p>
<p>That’s not at all what I mean. I’m talking about partnership compensation, where the amount of money you’re paid is based on seniority rather than how much business you bring in.</p>
<p>Any form of lockstep compensation for partners is long gone at most firms. There is probably less differentiation in the early years of partnership, but the differences can become quite pronounced by the 5-10 year mark. As noted earlier, unproductive partners may be carried for a couple of years, but they are soon encouraged to leave. It’s all “What have you done for me lately?” these days.</p>