In today’s episode, I break down the nuances of the counsel role in Big Law—what it really means, how it differs across firms, and whether it can be a stepping stone to partnership or a career dead-end. I address the biggest challenges lawyers face when considering a counsel position, including unclear compensation structures, lack of business development credit, and the evolving role of non-equity partners. If you're thinking about a counsel position—whether as a promotion or a lateral move—this episode will help you ask the right questions to ensure it aligns with your career goals.
At a Glance:
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0:00 Introduction: The evolving role of counsel in Big Law and why it varies across firms
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1:20 Lack of a clear definition: Why counsel roles differ significantly between firms
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2:06 Counsel as contract attorneys: How some firms use the role to retain talent without long-term commitments
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3:07 Counsel as a path to partnership: When the role is a stepping stone versus a permanent position
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4:23 Key questions to ask: Understanding firm expectations before accepting a counsel offer
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5:16 Business development expectations: Whether counsels receive credit or budget for generating clients
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7:23 Compensation uncertainty: How salary and bonus structures for counsels differ from associates and partners
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9:02 When a counsel role makes sense: Strategic reasons for choosing counsel over partner or associate positions
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12:00 The changing landscape: How the rise of non-equity partners is reshaping the counsel role
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www.lauraterrell.com
laura@lauraterrell.com
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Show notes: https://www.lauraterrell.com/podcast
Big Law Life