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Enhancing Lateral Partner Opportunities and Compensation
You are a partner in a law firm and you have decided to make a lateral move. You want it to be the right move to a better platform. Where do you start and how do you maximize the likelihood of a successful outcome? The lateral candidate process differs among firms and candidates. But the more you are prepared to answer and ask questions, the greater the likelihood this next move will be an optimal one for you and the firm you are joining. Consider the approach detailed below regarding the research, preparation and vetting activities associated with a lateral partner move.
Starting the Process
Begin your process by evaluating your current firm. Make a list of what is attractive about — and lacking in — your firm's platform. Next, develop a chart containing a list of “must-haves” in a new firm, and add the names of firms whose platforms appear to provide what your practice needs. At this stage, it can be beneficial to enlist the help of a trusted adviser such as a close colleague or an attorney-search consultant with deep knowledge of the local market.
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