Big Law Life #39: Are You Sure You Want to Be a BigLaw Partner?
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:
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00:00: Introduction by Laura Terrell: From equity partner to executive coach
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00:32: The lack of a roadmap in law school for success in large law firms
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01:20: Considering partnership: What aspiring partners need to think about
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02:44: Financial realities: From income partners to equity partners
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05:38: Equity partners and the risks of inconsistent payments
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07:18: The firm’s culture: How partnership can change dynamics and expectations
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09:16: Business development expectations and the runway for growth
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12:30: The workload: Managing administrative tasks, client work, and business development
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14:19: Personal life and partnership: Balancing professional demands with personal priorities
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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:
laura@lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast