Big Law Life #64:How to Evaluate a Practice Group Before Making a Lateral Move
In today’s episode, I explore one of the most critical yet overlooked aspects of making a lateral move as a partner in Big Law: evaluating your future practice group before making the jump. A firm’s overall reputation and financials matter, but your day-to-day success and satisfaction will depend significantly upon how your specific group operates.
I break down six essential questions every lateral partner should ask before accepting an offer -- from understanding how the group influences origination credit, to internal competition and management of clients, to evaluating whether the firm’s business development support for the group is effective and well-thought out. Whether you’re considering a move or advising colleagues who are, this episode provides the practical insights you need to make an informed decision and avoid costly surprises.
At a Glance:
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00:00 Introduction to Big Law Life and why evaluating your practice group is critical before making a lateral move
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01:20 The difference between assessing a firm’s overall reputation vs. understanding your day-to-day practice group experience
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02:48 Why lateral partner candidates often overlook key questions about their future practice group
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04:07 Question 1: Does the practice group complement your skills, or will you be competing for the same work?
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06:13 How to assess internal competition and potential conflicts over key clients
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07:12 Question 2: Are you joining an established team or expected to build a practice from scratch?
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08:37 How firms vary in their willingness to support lateral partners in hiring associates and expanding their teams
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10:06 Question 3: How does the practice group pitch and win new clients?
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11:37 The warning signs of a dysfunctional business development strategy
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13:09 Question 4: How much influence does the practice group leader have over compensation and evaluations?
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14:29 Why some groups have more control over partner resources and career progression than others
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15:30 Question 5: Does the practice group quietly enforce unwritten rules that contradict firm policies?
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16:51 Real world examples of practice groups ignoring firm policies on leave, origination credit, and compensation
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17:48 Question 6: How does this firm’s approach compare to competitors and industry best practices?
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19:14 Why understanding your practice group’s internal operations is so critical
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20:05 Closing thoughts: Doing your due diligence before making a lateral move to ensure long-term success
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Show notes: https://www.lauraterrell.com/podcast