Big Law Life

In this episode, I tackle a critical question for many partners - how to tell when your firm no longer values you and what steps you should take next. I've seen too many strong, capable partners blindsided by subtle shifts that signal declining influence, reduced credit, and a fading role in firm strategy. Drawing from my own experience as a BigLaw partner mentoring and managing other partners, as well as serving on executive and other firm leadership committees, I walk through six clear warning signs, from being left out of key decisions to watching your client relationships being reassigned without input. I also share practical ways to assess your standing, gather data, and take deliberate steps, either to reassert your value internally or to plan a confident move elsewhere. At a Glance: 00:00 Introduction and why this topic is difficult for many partners to face 02:14 Sign #1: You're no longer invited to key meetings or included in major firm decisions 03:00 Real-world example of a partner sidelined after years of practice growth 03:46 How to reassert your relevance and get back in the room 04:05 Sign #2: Your clients are being shared or reassigned without your consent 05:41 How to document your client contributions and credit 06:27 Sign #3: Declining origination credit or compensation without clear explanation 07:37 What early questions to ask to prevent surprises at comp time 08:54 How to use firm metrics to track and present your value 09:15 Sign #4: Your practice isn't being supported with people, budget, or visibility 10:12 How to connect your requests to firm goals and growth priorities 11:24 Sign #5: Your internal visibility and influence are fading 11:50 How to rebuild influence through mentoring and collaboration 12:14 Sign #6: You're doing heavy administrative work with little reward 13:34 Setting boundaries around internal service work and when to pull back 15:12 How to assess your data objectively and start reclaiming or rebuilding value 16:29 Preparing to have candid conversations with leadership 17:21 Knowing when it's time to test the market and plan your exit 18:09 The bottom line: clarity is not failure, it's power Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

Most lawyers can recite their firm's PEP number, but few truly understand what it measures, how their day-to-day actions affect it, or how it affects them (even if they are a non-eequity partner). In this episode, I explain why PEP is often misunderstood, the hidden levers that drive it, and what partners need to know about how it can broadly impact all attorneys across the firm. From billing and collections to leverage ratios, capital contributions, and distribution timing, I break down what really impacts profitability and what that means for both equity and non-equity partners. I also share practical steps to become financially savvy inside your firm, strengthen your influence, and plan ahead for the realities of partner cash flow and tax obligations. At a Glance: 00:00 Introduction and overview of why PEP matters for partners 02:17 What PEP actually measures and how it's calculated 03:31 Why new partners misunderstand PEP as guaranteed income 04:26 The misconception that billing more always leads to earning more 05:19 How margin and leverage, not volume, drive profitability 06:18 How accounting rules and firm policies affect profit definitions 07:14 Why realization and collections are critical to firm profitability 08:06 How capital contributions and working capital impact partner cash flow 09:26 What delayed distributions mean for tax and personal finance planning 11:09 Example showing how rising revenue can still reduce PEP 12:38 The ripple effect of declining PEP on both equity and non-equity partners 13:27 More metrics each partner should track: RPL, leverage, realization, and contribution margin 15:36 How to apply financial knowledge to strengthen your position 16:23 The importance of understanding your firm's leverage and margin model 17:15 Managing your own cash flow, reserves, and quarterly taxes 17:38 Why mastering firm economics builds long-term influence and stability 18:07 The bottom line: understanding the business of law is essential for partner success Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

When you've spent years building trust with a partner who once championed your career, it can be deeply unsettling when they suddenly stop giving you work, exclude you from client calls, or even fail to support your partnership candidacy. I've seen this happen often in BigLaw. It's painful, hard to understand, and often tough to find a way to move forward without that support. In this episode, I explain the structural, economic, and political reasons that drive this kind of behavior, and the concrete steps you can take to protect your career, your client relationships, and your reputation within your BigLaw firm. I also share how to recognize early warning signs, document your value, and rebuild momentum through new mentors, visibility, and business development efforts. At a Glance: 00:00 Introduction and the reality of losing a mentor partner's support 02:12 The first signs of a deliberate cutoff and how to recognize the shift 03:40 Structural reasons behind the change, including billable pressure and firm economics 05:26 How your mentor may fear losing client credit or control as you become more visible 06:45 Why mentors can begin to see protégés as competitors rather than allies 08:24 The emotional impact of losing your mentor, and how to separate feelings from facts 09:54 Protecting your hours and finding alternate work streams 11:03 Documenting every contribution and communicating it effectively 12:52 How to prepare for a difficult conversation with your mentor partner 14:35 Turning insights into a strategy for next steps 15:48 Expanding mentorship, sponsorship, and visibility 16:23 When and how to escalate the issue if needed 19:52 Steps to rebuild relationships and regain career stability 23:25 Why losing a mentor can become a turning point for independence Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

Today, the road to partnership involves more than billing hours and producing great work. It's also now about more than business development, firm economics, and client relationships. A new factor also driving advancement is artificial intelligence. AI is already reshaping research, diligence, drafting, and reporting. In addition, it compresses tasks that once justified entire teams of associates. That means the old BigLaw pyramid model is under pressure, and the skills firms now look for in future partners are shifting rapidly. In this episode, I walk through what partnership track lawyers need to know about AI's impact on the profession, how to use it strategically in your practice, and how to position yourself as indispensable to both clients and your firm. At a Glance: 00:00 Introduction and why AI is changing the partnership track 01:20 How AI is replacing work once handled by junior associates and large diligence teams 02:45 The decline of the BigLaw pyramid in the age of AI and the new calculus for partnership success 03:12 Why firms prioritize high-value, complex matters that AI cannot commoditize 04:18 How associates can leverage their need to expand expertise in AI to seek early exposure to client calls, strategy meetings, and negotiations 04:44 Using AI tools on low-risk tasks and showing measurable client outcomes 05:10 Leading multidisciplinary teams that now include data scientists and technologists 06:30 Demonstrating client judgment in AI-assisted work by asking "Would I trust this outcome if I were the client?" 07:25 Joining firm AI committees and pilots to gain visibility and credibility 08:17 Shifts in client expectations: efficiency, cost transparency, and outcome-based fees 09:45 The lawyer's edge: spotting risks that AI misses and proving strategic value 11:01 Rewriting your career narrative for the AI era: from hard worker to AI-enabled strategist 12:05 Freeing time for business development by leveraging AI efficiencies 12:50 Tracking and sharing metrics on time saved, cost savings, and improved margins 13:54 How AI enables more volume, fewer write-offs, and stronger profitability 14:42 Why AI should be seen as an accelerator, not a competitor 15:21 What firms will value most over the next decade: legal judgment, client impact, and tech fluency Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

If you have built your BigLaw career around a thriving regulatory or enforcement practice, you know how difficult it can be for you and your practice when that work suddenly isn't there. One month you are buried in nvestigations motivated by government inquiries or merger reviews, and the next your phone goes quiet because enforcement priorities shifted, agency budgets got cut, or a new administration has redirected resources. It is unsettling, especially when your brand, reputation and and client base are tied to that flow of work. In this episode, I walk through the reality of what it can feel like and what to do when your once-busy enforcement and regulatory practice slows. I share how to distinguish between cyclical downturns and structural changes that reshape a practice like this long term, and share some specific examples across areas such as FCPA, antitrust, and privacy to illustrate how BigLaw attorneys can pivot effectively. I also outline practical steps to stay visible with clients as well as inside your firm so that even when the billable work is not there, your value and future opportunities are. At a Glance: 00:00 Introduction need to navigate BigLaw downturns in regulatory and enforcement work 01:20 When busy practices suddenly dry up: regulatory shifts and enforcement changes 02:14 How external forces such as politics, budgets, and agency leadership reshape your practice overnight 03:03 Early warning signs that your work is slowing down in these areas 03:37 The emotional impact: anxiety, uncertainty, and fear of career derailment 04:08 Diagnosing cyclical vs. structural downturns with concrete indicators 05:16 Why this distinction matters for your long-term career strategy 05:39 Examples of temporary pivots that kept practices alive (FCPA, antitrust, GDPR, privacy) 07:04 How lawyers can broaden their practices to adapt to structural changes 08:08 The importance of proactive client communication, including with "good news" updates 09:37 What to do when billable hours stall: seeking work across departments and staying visible 10:41 Positioning yourself as a thought leader through articles, CLEs, and conferences 11:29 Documenting outreach, cross-practice contributions, and client loyalty for firm leadership 12:21 Demonstrating cross-practice value: aligning with busier groups inside your firm 13:30 How client loyalty and referrals strengthen your standing even in slow periods 13:58 Reframing your practice to be less narrowly defined by one enforcement area 14:27 How one partner survived cuts by documenting value and broadening expertise 15:16 Long-game mindset: showing your firm that you are indispensable beyond billable hours Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

Collaboration can feel like a buzzword that doesn't align with how law firms actually reward people. Hours and origination credit often outweigh teamwork, and silos, competition, and fee pressures make working together seem like an uphill battle. But here's the truth: collaboration isn't optional if you want to grow in BigLaw. Clients expect seamless service across firms and practices, and internally within your firm, collaboration expands your visibility, strengthens trust, and opens doors to opportunities might never get on your own. In this episode, I break down the real obstacles that make collaboration so difficult and share practical strategies for overcoming them. I cover traps like silos, credit battles, and disorganized matter management, and I explain how clarifying roles, overcommunicating, and sharing credit generously can transform how you're perceived by clients and colleagues. I also share real stories, both successes and failures, that show exactly what's at stake when collaboration works and when it doesn't. At a Glance: 00:00 Why collaboration is rarely rewarded in BigLaw but is still essential to success 01:20 How client expectations drive the need for cross-practice teamwork 03:17 Why silos, competition, and fee pressure derail collaboration 04:52 Common traps: "eat what you kill," clashing work styles, and version chaos 06:32 Practical strategies: clarify roles, align early, and use firm tools effectively 07:26 How overcommunication early prevents wasted time and turf wars later 08:11 Adapting to partner preferences and sharing credit generously 09:34 Soft skills that make collaboration work: listening, empathy, and conflict resolution 11:04 Case study: how a global deal team aligned as "one voice" and won repeat business 12:17 Late-night collaboration between associates that built goodwill with a client 13:15 A cautionary tale of poor version control that damaged client trust and associate morale 14:26 Why collaboration is not optional, it's critical to reputation, client service, and career growth Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

One of the toughest parts of BigLaw life is dealing with unclear or contradictory instructions. Partners often send cryptic emails, clients can be vague, and deadlines shift without explanation. You can waste hours second-guessing what a partner really wants. Or you can get smart about how to deal with ambiguity and recognize that mastering it is part of the job in BigLaw. In this episode, I share the practical strategies you can use to navigate those moments, from clarifying vague assignments without pestering, to using timeboxing and judgment calls when no direction is available. I also explain how to read a partner's "ambiguity profile" so you can adapt to their style and avoid unnecessary frustration. At a Glance: 00:00 Why ambiguity is built into BigLaw and why clear instructions are the exception rather than the rule 01:20 How partner communication shortcuts and client vagueness create trickle-down uncertainty 02:39 Common scenarios such as three-sentence emails, vague quick overviews, and missing context 03:51 Four practical tools to navigate unclear assignments: clarify, timebox, skeleton outlines, and judgment 05:07 Examples of clarifying questions that suggest options and avoid over delivering 06:11 Why timeboxing prevents wasted hours and misaligned deep dives 06:38 Using a one pager or outline to confirm direction before investing too much time 07:30 When judgment is the only option and how to demonstrate initiative with uncertain asks 08:53 Reframing ambiguity as an opportunity to show judgment rather than a test of failure 10:19 Why forward progress matters more than perfection in firm culture 11:19 Understanding a partner's ambiguity profile and adapting to different supervision styles 12:40 Practical tactics for working with partners who do not respond, do not realize they are vague, or want independence 13:22 Why ambiguity is normal in BigLaw and how associates who thrive are those who navigate it 14:05 Final advice: treat ambiguity like a puzzle, not a problem Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

Profitability is a word that makes many lawyers cringe. We know firms measure it, but the methods and metrics often feel murky—or worse, toxic to firm culture. Still, ignoring profitability is not an option if you want to succeed and thrive in BigLaw. In this episode, I break down what profitability really means inside large firms, why it's far more than just gross billings, and how to take control of the numbers that impact your compensation, partnership prospects, and long-term career. From cost structures and volume to realization and collections, I share how firms evaluate lawyers and practices, and the concrete steps you can take to ensure you're seen as a profitable and valuable member of your firm. At a Glance: 00:00 Why profitability is uncomfortable for many lawyers but unavoidable in firm evaluations 01:20 Why profitability metrics can feel toxic and how firms define them in different ways 02:39 Revenue versus profitability—why $5 million billed doesn't mean $5 million in profit 03:59 Partner cost per revenue dollar and how staffing models impact profitability 05:10 High-volume, lower-margin practices versus high-margin, resource-intensive matters 07:11 Comparing a $15 million practice with 15% margin to an $8 million practice with 30% margin 08:12 Why collections matter more than billings if the firm isn't getting paid 08:41 Understanding your standard rate, average billed rate, and why the gap matters 10:06 Realization rate explained with examples and what your firm expects from you 12:38 Collections as the true test of profitability and what firms conclude about lawyers who can't collect 14:18 The risks of unreliable clients, poor billing practices, or weak client control 15:28 How cost allocations and overhead factor into your profitability picture 16:22 Using dashboards, financial analysts, and legal operations pros to understand your data 17:13 Asking the right questions of CFOs and practice leaders to align with benchmarks 17:36 Why profitability is multi-dimensional and how to shift the conversation from toxic to strategic Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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

Strategic planning often feels like corporate jargon that doesn't belong in law firms. Yet without a clear plan, too many lawyers end up chasing random opportunities, wasting time, and missing the clients and matters best suited to help them succeed with building their practice and their business. In this episode, I talk with Sheri Palomaki, Director of Practice Operations at K&L Gates [Energy, Infrastructure, Resources] about why strategic planning is a critical skill for lawyers today, what makes it so difficult in our environment, and how attorneys in BigLaw can use practical tools like SWOT analysis, SMART goals, and accountability partners to align priorities with results. If you've ever wondered how to turn priorities like "bring in more clients" into real progress, this conversation will give you a concrete path forward. At a Glance: 00:00 Why strategy feels elusive for lawyers but is essential to your practice 01:20 Framing why strategic planning matters for lawyers and practice leaders 03:29 Sheri's career path from practicing at Skadden to law firm operations and strategic planning, and how that shaped her perspective 05:21 Why law firms resist planning: cash-basis financials, partnership politics, and individual achievement culture 08:17 The dartboard and football analogies: why random wins aren't a strategy 10:04 The trap of setting too many priorities and why 2-3 is the sweet spot 12:15 Using SWOT analysis effectively and avoiding the problem of one partner speaking for everyone 14:04 Turning priorities into SMART goals and why specificity matters 16:27 How to avoid chasing the wrong kinds of clients by segmenting your long tail 18:29 Fitness and sports analogies: daily actions, not lofty goals, drive results 21:12 Guarding against shiny object syndrome and staying intentional about shifts 23:10 How recurring accountability meetings and role assignments keep execution on track 25:02 The "accelerator program" model for training rising partners in business development 26:12 First steps: finding an accountability partner and communicating priorities Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here! For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. Learn more about Sheri Palomaki and Legal Value Network LinkedIn:https://www.linkedin.com/in/sheripalomaki/ https://www.legalvaluenetwork.com/ 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

Navigating business development in a large law firm can feel like a solo journey. Lawyers often lack sufficient marketing support, leading to frustration in lead generation and outreach. The discussion introduces practical strategies, like building repeatable habits and leveraging external platforms for visibility. Effective communication of achievements helps garner support from leadership. Personal branding and proactive marketing are emphasized as keys to thriving in a competitive environment, even when resources are limited.