<p>It seems that it takes at least 7 years to become a partner at a law firm. My question is that does everyone that sticks around that long get promoted to partner? what are the requirements that partners look for in future partners?</p>
<p>No, not everyone who sticks around that long will make partner. In fact, the majority will not. At many firms, there is now a two-tiered partnership structure, where many, who the firm wishes to stick around, will become non-equity partners (still salaried employees, though usually with a very generous salary), destined to remain non-equity partners for the long term, while a very few others will become equity partners, sharing in the profits of the firm. Sometimes, a non-equity partner will be invited to join the equity partnership at some point in the future. Additionally, the partnership track at many firms has stretched from 7 to 10 years or more. Even then, you may become only a non-equity partner, if you are offered a position as a "partner" at all.</p>
<p>Firms are looking for a lot of things in potential partners -- intelligence, thorough knowledge of the law, quickness, common sense, solid client relationships, a good business sense, stability (in both your personal and professional life) and, in the case of big firms, absolute dedication to the firm and your work. Rainmaking ability is not to be underestimated, and at many firms, is an absolute prerequisite to joining the partnership ranks. In terms of numbers, look at it this way: at the very largest law firms, 100-200 associates might start at the firm as first year associates. By the time associates reach their eighth year (the first year when most associates are up for consideration for partner), there will only be maybe 15 or so of those original 100-200 remaining, plus maybe a few laterals, due to attrition and as a result of reviews where someone was asked to leave or told that that associate was not on the partner track. (By the way, though it is kept quiet, it is not at all unusual for associates to be asked to leave a firm. They are usually given transition time to find a new job so as not to blemish their resumes.) In a very good year, perhaps 10 or so associates will be invited to join the partnership -- less at some firms. Off of the top of my head, I'm thinking of three big NYC-based firms that made 7, 7 and 5 new partners last year. </p>
<p>Remember, another obstacle to the partnership is that if you "come up" for partnership in a bad economic year, or if your practice group has a lot of partners (or a bad partner:associate ratio), you may just not make it despite your sterling qualifications. It's up and out at most law firms -- meaning that you either make partner or you leave. This has been softened a bit in recent years with the non-equity partnership track, but it still holds true in many cases and it is harsh.</p>
<p>hmm... you mentioned the example of 15 being left over, so what you're saying that a person would have to remain at a firm for the full duration to be considered for partner? or can someone say with 5 years of legal experience be hired and then be considered for partner in about 2 or 3 years?</p>
<p>if one does not make partner say after 8 or 9 years, what would the attorney do? remain an associate for the remain of his/her career?</p>
<p>Your grammar needs serious work funnyman. I got a headache reading your post. If you are that sloppy--even while on a casual internet discussion board--I suspect being in a field as meticulous as law might not be the right choice for you.</p>
<p>Lawyers have a high rate of attrition at top corporate firms. Over half will find out they are not cut out for the long hours and pursue other careers. Many leave the profession altogether. Many others will be put on a non-partner track. There is only so much profit to go around and those who are chosen to be partners have to be consistently adding to the value of the firm. </p>
<p>It's quite simple: if you have among the highest billable hours in the firm and have the ability to maintain and continuously attract new clients firm, you will have a good chance of making partner. </p>
<p>Many do not have what it takes. Many more are merely unlucky along the way: perhaps the economy is in a recession when they are up for partnership or maybe their mentor in the firm just has a personality clash with them. Whatever the reason, becoming a partner in a law firm is certainly not something you should stake everything on.</p>
<p>There are many other careers that can be pursued with a law degree and a few years experience in a respectable law firm. For example, I know of two assistant GM's for a major baseball team that have law degrees. They have expertise concerning the rules and regulations concerning their sport than their colleagues and are thus more attractive employees. One of the more common career routes is to become in-house counsel for a corporation should you fail to make partner.</p>
<p>There are many options for those who are dedicated, even with a law degree from a podunk law school, but you have to vigorously pursue them. For the most part though, being a partner in a big law firm is the most lucrative career path, and all these other career choices will make less.</p>
<p>I apologize for my grammar. I have no interest in becoming a lawyer. I was simply curious.</p>
<p>Calm down Shiboing, we have no need for pedantry on this board. </p>
<p>Let those devoid of grammatical transgressions hurl the first stone:</p>
<p>
[quote]
It's quite simple: if you have among the highest billable hours in the firm and have the ability to maintain and continuously attract new clients firm, you will have a good chance of making partner.
[/quote]
</p>
<p>I kid, I kid. But, there is no need to deride someone who is perfectly coherent, simply because their syntax does not rival your own.</p>
<p>that hurt calipharius! now you're saying he/she is better than me? :) :rolleyes:</p>
<p>Hey! I said you were perfectly coherent!</p>
<p>funnyman, you asked whether it is possible to have 5 years of legal experience, leave their original law firm, join a new law firm and then make partner at that new law firm, correct?</p>
<p>Sure, it's possible. The problem is that you are then competing for partnership from a pool of people who have been at the firm longer than you, who have been in the trenches and can share "war stories" with colleagues at the new firm, who have developed close relationships that may not only garner them votes in the partnership selection process, but also in getting plum assignments, and who have proven themselves over time. You will always be a bit of an outsider at the new firm, and while you may make partner, it would be easier for an equally qualified attorney who started at your new firm to do so. Sometimes, someone from a very prestigious law firm (in NYC, such as Wachtell, S&C, Cravath or Davis Polk) will lateral over to a new (usually less prestigious and profitable) law firm as a sixth or seventh year associate with a tacit agreement that that lateral attorney will make partner in a given number of years (usually no less than 2-3 years). </p>
<p>There are law firms out there who typically name as partners only "homegrown" associates (Cravath and S&C come to mind), so if you didn't start at that firm, you are out of the running from the outset. It will be interesting to see if these practices change at all in light of the slightly increased number of lateral attorneys now working at these firms.</p>
<p>bake brownies for your dept every friday</p>
<p>So what do the majority of people do if they don't make partner? Is it an exaggeration what people say about either making partner or having to leave and deal with auto accidents at a private practice?</p>
<p>If television has taught us anything, it’s that a person can sleep his way to the top of any firm (with hilarious and often outlandish outcomes)! :)</p>
<p>Shiboing Boing, your grammar is not much better than funnyman’s. In your first sentence you forgot a comma although you were directly addressing funnyman. I know this post is from four years ago but it just really annoyed me.</p>
<p>LOL way to resurrect a 4 year old post</p>
<p>Once one has worked at a law firm for 7 or 8 years and is offered a partnership is there a financial obligation which must be paid by the new partner in order to become a partner or is the time that he gave to the firm considered his consideration? What is the usual percentage of ownership in the partnership? Does it change over time?</p>
<p>Hi, I read your message with great interest, I am wandering whether you might assist, I need step by step career path for someone who has graduated from law school. Thanks</p>