In today’s episode, I dive into the realities of becoming a partner at a large firm. I outline the financial, managerial, and personal factors every lawyer should consider before pursuing partnership. As I explain, partnership comes with certain not-so-easy financial realities, heavy business development demands, and the need to be willing to navigate the firm dynamics and internal politics that often come with the title. If you’re a lawyer considering working towards partner, this episode offers some critical points for you to evaluate.

At a Glance:

• 00:00: Introduction by Laura Terrell: From equity partner to executive coach

• 00:32: The lack of a roadmap in law school for success in large law firms

• 01:20: Considering partnership: What aspiring partners need to think about

• 02:44: Financial realities: From income partners to equity partners

• 05:38: Equity partners and the risks of inconsistent payments

• 07:18: The firm’s culture: How partnership can change dynamics and expectations

• 09:16: Business development expectations and the runway for growth

• 12:30: The workload: Managing administrative tasks, client work, and business development

• 14:19: Personal life and partnership: Balancing professional demands with personal priorities

• 15:20: Key questions to ask yourself before pursuing partnership

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Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:

www.lauraterrell.com 

laura@lauraterrell.com  

LinkedIn: https://www.linkedin.com/in/lauralterrell/ 

Instagram: https://www.instagram.com/lauraterrellcoaching/ 

Show notes: https://www.lauraterrell.com/podcast