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<blockquote data-quote="Daniel Boden" data-source="post: 10948" data-attributes="member: 487"><p>Hi all,</p><p></p><p>Here's my summary for this week - enjoy!</p><p></p><p><strong><u><em>The Lawyer</em>: What does it take to make partner? (26 April 2019)</u></strong></p><p><strong><u></u></strong></p><p><u>Introduction</u></p><p>In this article, <em>The Lawyer</em> analyses the considerations that every associate should consider if they wish to make partner at a city law firm.</p><p></p><p><u>Article</u></p><p>The article begins by offering 6 reasons or issues that go into a lawyer making partner.</p><p></p><p>Firstly, <strong>politics</strong>. From a partner's or a practice group's point of view, the ability to put forward successful candidates is largely down to political clout and profitable practices. Ultimately, because of the limited resource of partnership equity, there is a lot of competition amongst partners and therefore candidates but the ones that are successful are put forward by those individuals or practice groups who have a significant influence in the firm. Potential candidates should, therefore, look to build a large network of allies and be visible across the firm from as early a stage as possible, in order to offer themselves the best chance of success.</p><p></p><p>Secondly, <strong>personality</strong>. Since there are so many different types of people who are partners at law firms, it is hard to pinpoint an exact personality trait that would give a candidate an edge in the selection process. However, the author proposes that a strong level of emotional intelligence is what sets the elite apart from there contemporaries. Those lawyers who are natural leaders, excellent communicators and listeners and who are always supportive and available to their team are the ones who tend to flourish as partners. For this reason, the author surmises that emotional intelligence is perhaps more important than intellectual and technical expertise, as those who are promoted without emotional intelligence will ultimately fail in a law firm partnership.</p><p></p><p>Thirdly, <strong>economics</strong>. It goes without saying that those associates who are nominated by partners in the most financially profitable practice groups will have a much greater chance of being made up to partner. Moreover, if the nominee has a consistent track record of billing well and bringing in a good amount of business to the firm, then he/she will again have a much greater chance of success.</p><p></p><p>Fourthly, <strong>vision</strong>. Partnership candidates must demonstrate that they can think like a partner and can create a succinct and profitable vision for the future. This can be either short, medium or long-term and must ensure that their vision meets the targets the law firm has for them, be it economically or from a business development point of view. The nominee must have clear goals and ambitions with clear evidence of a plan as to how he/she will carry out his/her vision in a successful and realistic manner.</p><p></p><p>Fifthly, <strong>values</strong>. The firm's values, strategy and culture will also play a part in partnership decisions. Whilst not always obvious during the selection process, any candidate with a good level of emotional intelligence will understand these issues such as diversity, practice area focus etc. Other factors such as how the firm will allocate its resources are also worthy of mention here.</p><p></p><p>Sixthly and lastly, <strong>luck</strong>. However strong a candidate could look on paper, things out of their control such as a recession or a downturn in the candidate's practice area could prevent them from becoming a partner. Therefore, the author advises partnership-seeking associates to effectively have a back-up plan in that they will have a 'major' focus area which will be the key part of their legal practice which bills very well and allows them to be visible throughout the firm, whilst at the same time having a 'minor' focus. This secondary focus will allow the candidate to gain more exposure in the firm and allow them to generate more financial profits if needed in case of a recession for instance.</p></blockquote><p></p>
[QUOTE="Daniel Boden, post: 10948, member: 487"] Hi all, Here's my summary for this week - enjoy! [B][U][I]The Lawyer[/I]: What does it take to make partner? (26 April 2019) [/U][/B] [U]Introduction[/U] In this article, [I]The Lawyer[/I] analyses the considerations that every associate should consider if they wish to make partner at a city law firm. [U]Article[/U] The article begins by offering 6 reasons or issues that go into a lawyer making partner. Firstly, [B]politics[/B]. From a partner's or a practice group's point of view, the ability to put forward successful candidates is largely down to political clout and profitable practices. Ultimately, because of the limited resource of partnership equity, there is a lot of competition amongst partners and therefore candidates but the ones that are successful are put forward by those individuals or practice groups who have a significant influence in the firm. Potential candidates should, therefore, look to build a large network of allies and be visible across the firm from as early a stage as possible, in order to offer themselves the best chance of success. Secondly, [B]personality[/B]. Since there are so many different types of people who are partners at law firms, it is hard to pinpoint an exact personality trait that would give a candidate an edge in the selection process. However, the author proposes that a strong level of emotional intelligence is what sets the elite apart from there contemporaries. Those lawyers who are natural leaders, excellent communicators and listeners and who are always supportive and available to their team are the ones who tend to flourish as partners. For this reason, the author surmises that emotional intelligence is perhaps more important than intellectual and technical expertise, as those who are promoted without emotional intelligence will ultimately fail in a law firm partnership. Thirdly, [B]economics[/B]. It goes without saying that those associates who are nominated by partners in the most financially profitable practice groups will have a much greater chance of being made up to partner. Moreover, if the nominee has a consistent track record of billing well and bringing in a good amount of business to the firm, then he/she will again have a much greater chance of success. Fourthly, [B]vision[/B]. Partnership candidates must demonstrate that they can think like a partner and can create a succinct and profitable vision for the future. This can be either short, medium or long-term and must ensure that their vision meets the targets the law firm has for them, be it economically or from a business development point of view. The nominee must have clear goals and ambitions with clear evidence of a plan as to how he/she will carry out his/her vision in a successful and realistic manner. Fifthly, [B]values[/B]. The firm's values, strategy and culture will also play a part in partnership decisions. Whilst not always obvious during the selection process, any candidate with a good level of emotional intelligence will understand these issues such as diversity, practice area focus etc. Other factors such as how the firm will allocate its resources are also worthy of mention here. Sixthly and lastly, [B]luck[/B]. However strong a candidate could look on paper, things out of their control such as a recession or a downturn in the candidate's practice area could prevent them from becoming a partner. Therefore, the author advises partnership-seeking associates to effectively have a back-up plan in that they will have a 'major' focus area which will be the key part of their legal practice which bills very well and allows them to be visible throughout the firm, whilst at the same time having a 'minor' focus. This secondary focus will allow the candidate to gain more exposure in the firm and allow them to generate more financial profits if needed in case of a recession for instance. [/QUOTE]
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