Big Law Life

In today’s episode, we bring back Erin Sears, Vice President at Garrison, a top legal recruiting firm, in Part 2 of our conversation to unpack some of the things many lawyers would like to understand about the recruiting process. Today we are focusing specifically on the transitions of partner candidates and government attorneys into new roles.  At a glance: 01:20 - Working with an outside recruiter 01:40 - Expectations from a partner candidate 02:02 - The importance of a portable book of business 03:04 - strategic hires and the role of experience 03:32 - Differences in partner roles and expectations 04:13 - Identifying potential for growth at another firm 05:57 - The value of a network in recruiting 11:15 - Challenges for government attorneys moving to private practice 30:32 - Market trends and demand in Washington, D.C. in 2024   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  Ways to reach Erin Sears LinkedIn: https://www.linkedin.com/in/erinsearslegalsearch esears@g-s.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 

In this episode, we tackle the critical yet often misunderstood role of legal recruiters in shaping your career trajectory. From finding the right recruiter to negotiating the leap to a new firm, we unveil insider strategies for lawyers aiming to navigate the competitive landscape of big law firms. Join us as we explore how engaging with recruiters can be a game-changer in your legal career, with exclusive insights from Erin Sears, Vice President with Garrison, a top legal recruiter. Whether you're actively contemplating a move or just curious about the market, this episode is your roadmap to understanding the nuanced dynamics of legal recruitment and how to leverage them for your career advancement.   At a glance… [00:01:42] Laura discusses frequent questions about working with recruiters for lawyers considering moving to a private law firm. [00:02:08] Erin Sears, Vice President at Garrison, shares her extensive background in law and transition to legal recruiting. [00:05:11] Ideal timing for lawyers to engage with recruiters, highlighting the importance of starting early in one’s career. [00:08:20] Advice on choosing the right recruiter, emphasizing recommendations from professional networks and doing due diligence on the recruiter’s professionalism and track record. [00:10:46] Red flags to watch for when dealing with recruiters, such as incorrect practice area identification and overly aggressive behavior. [00:14:03] Benefits of working with a recruiter versus making independent lateral moves, including managing the application process, timing, and negotiations. [00:19:18] How recruiters assist in the negotiation process, and the value of having a recruiter advocate for the candidate. [00:22:08] Honesty in recruiter-candidate relationships about the feasibility of certain law firm moves based on the market and the candidate's qualifications. [00:28:24] Ensuring confidentiality during the job search process and the steps recruiters take to protect their candidates' privacy.   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  Ways to reach Erin Sears LinkedIn: https://www.linkedin.com/in/erinsearslegalsearch esears@g-s.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 

Receiving a not-so-great evaluation can be a shock to the system. In today’s episode, I share practical strategies to help manage and leverage difficult feedback to effectively receive, interpret, and act on this information in a way that propels your career forward.  At a glance… 00:01:20 - Challenges of receiving evaluations in diverse law firm cultures. 00:03:01 - Strategies for effectively managing and responding to feedback. 00:06:09 - Importance of reflection and asking for specific feedback to improve performance. 00:07:20 - Navigating vague feedback and seeking clarity for professional development. 00:09:21 - Discussing career aspirations and obtaining actionable steps for advancement. 00:14:12 - Significance of acting on feedback and the continuous pursuit of improvement. 00:17:04 - Summary of key strategies for managing evaluation feedback in law firms.   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  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 

Understanding the business of law in BigLaw firms is critical, as I initially shared with you in Episode #3 – and in this episode I’m talking about some additional metrics - leverage and utilization rates - that need to be part of your practice management toolkit. And follow along as I discuss "The Truth About the Billable Hour" A few takeaways …  Understanding Leverage: Leverage is important in your firm, but it has to be efficient in practice. The key is getting that pyramid to work so that lawyers at each level are able to maximize their billing and efficiency. The Dynamics of Growing Equity Partner v. Income Partner Ranks: How your firm approaches equity vs. income partner growth matters a lot for how your firm manages profitability, the ability to advance to partnership earlier in your career, and expectations for originating business. What Utilization Rates Mean for You: Monitoring your utilization rate can help firms see how well they are maximizing attorneys’ time, but they can also help individual attorneys see more clearly just how many billable and non-billable hours are needed from you in a day. Utilization rates are also a great tool for self-assessment in aligning with firm expectations and managing personal workload/work-life balance. At a glance… - 00:00:32 - 00:00:50: The importance of understanding law firm culture and the business side of legal practice.0 - 00:01:46 - 00:05:18: Introduction of leverage and effective leverage in law firms, highlighting their impact on firm profitability and individual lawyers. - 00:05:18 - 00:07:26: Trends in the partnership model, including the rise of income partners alongside equity partners. - 00:07:26 - 00:09:17: The implications of firm profitability and leverage for non-partner lawyers. - 00:09:17 - 00:11:31: Exploration of the utilization metric, its calculation, and its importance for individual lawyers. - 00:11:32 - 00:13:49: Detailed analysis of billable vs. non-billable hours and their impact on lawyers' work-life balance. - 00:13:49 - 00:19:43: Strategies for managing non-billable hours and improving work efficiency.   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!   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/   

In today’s episode, I’m joined by Savaria Harris, formerly a partner with Kirkland & Ellis and DLA Piper, who subsequently made a move to become an in-house legal advisor, first as Vice President in the legal department at Johnson & Johnson, and now as Associate General Counsel and Director for Health Care Compliance at Amazon. We discuss why she decided to move from a partner role in BigLaw to working in-house, and what she found to be key to making that move successfully. Savaria also shares how her business-focused interests have impacted her legal career, and why giving back and making a difference is important to her. She also talks about her experience as a co-founder of the Unlocked Foundation, a 501(c)(3) focused on empowering women to close the wealth gap in their own lives. Savaria offers valuable advice for lawyers considering a similar path to make a pivot from private practice to in-house, and her experience provides a unique perspective on staying business-focused as a way to increase your influence.   A Few Takeaways… 1. Openness to New Roles: Savaria advises lawyers to remain open to new opportunities, highlighting the importance of keeping an active profile on platforms like LinkedIn.   2. Proximity to Business Operations: For those transitioning in-house, choosing roles that are close to core business operations can be essential for career growth.   3. Adaptability and Interpersonal Skills: Success in in-house roles often hinges on the ability to adapt and effectively collaborate with diverse teams.   4. Viewing Career Changes Positively: Savaria suggests seeing career moves as a part of personal and professional development, rather than as a reaction to negative circumstances.   At a glance… - 00:02:48: Insights into the transition from law firm to in-house roles. - 00:04:51: Savaria's experiences at Kirkland & Ellis, DLA Piper, and Johnson & Johnson. - 00:10:21: Choosing between litigation and regulatory roles. - 00:14:03: Adapting to new roles and skill sets. - 00:16:07: Transition to Amazon; networking and career development tips. - 00:20:29: Importance of a comprehensive professional profile. - 00:22:31: Qualities needed for transitioning from Biglaw to in-house. - 00:32:03: Savaria's involvement with Unlocked, focusing on the women's wealth gap. - 00:37:31: Alignment of personal values with professional roles. - 00:41:28: Strategies for job interviews in legal roles. - 00:44:28: Maintaining and enhancing a professional brand.   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  Ways to reach Savaria Harris and Laura Terrell Savaria Harris LinkedIn: https://www.linkedin.com/in/savaria-harris-3030822a The Unlocked Foundation: https://www.experienceunlocked.com/   Laura Terrell www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/

In today’s episode, I’m joined by Jessica Medina, who graduated from Columbia Law School in 2004 as a single mom of twins with over $200,000 in student loans, and went straight to work at a BigLaw firm. After eight years in private practice, she switched roles and became Senior Counsel at the Division of Enforcement with the US Securities and Exchange Commission. She left that role to work in the financial industry in a different way and is now an Accredited Financial Counselor who teaches other lawyers how to use their money to finance their dream lives. In today’s conversation, Jessica shares her personal journey and professional insights, offering invaluable guidance for lawyers who have the pressures of BigLaw life, are paying student loans, and generating a high income, but want to achieve financial stability and freedom.     A Few Takeaways… 1. Be Intentional with Career and Financial Choices: Understand why you are in your current position and align your actions with your long-term goals. This means making strategic decisions about lifestyle and finances to avoid getting trapped in a situation that doesn't align with your future aspirations.   2. Understand the Impact of Lifestyle on Finances: Many lawyers spend on convenience due to time constraints, which can lead to unintentional financial strain. Being mindful about where your money goes, especially as your salary increases, so that you can prevent unnecessary financial stress.   3. Prepare for Career Transitions with Financial Planning: If you're considering a shift in your career, especially one that might result in lower income, it's crucial to prepare financially. This might involve downsizing or re-evaluating your spending to make the transition smoother.   4. Seek Professional Guidance for Financial Management: Many lawyers lack formal education in personal finance management. Seeking advice from financial professionals can provide clarity, help in developing a comprehensive plan for managing debt (like student loans), and aid in aligning your spending with your life priorities.   At a glance… - [00:04:21 - 00:05:40]: Jessica’s journey from law to financial counseling and the challenges faced. - [00:06:02 - 00:06:44]: Financial mismanagement among lawyers. - [00:14:39 - 00:15:19]: Emotional and financial challenges of leaving the legal profession. - [00:16:57 - 00:17:41]:  How lifestyle choices impact financial freedom for attorneys. - [00:22:44 - 00:23:37]: Common financial mistakes by lawyers. - [00:31:37 - 00:32:31]: Exploring the benefits available to attorneys and their impact on personal finance. - [00:39:24 - 00:40:28]: Final advice for lawyers considering career transitions and the importance of intentional financial planning.   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  Ways to reach Jessica Medina and Laura Terrell Jessica Medina https://www.jessicamedinallc.com/ https://linkedin.com/in/jessicamedinallc jessica@jessicamedinallc.com Laura Terrell www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/

Former business development professional Christie Bilbrey shares insights on personal branding for attorneys in big law firms. Topics include building media relationships, leveraging social media, content creation, and securing speaking engagements. Learn how to distinguish yourself in a competitive legal landscape.

Greg Lambert and Marlene Gebauer discuss legal technology and innovation in the evolving landscape of legal industry. They explore the role of AI in transforming legal practices, AI's impact on legal strategy and decision-making, and the security and ethical challenges of AI in law.

In this episode, I explore the journey to achieving partnership in big law firms, shedding light on the complexities and strategies required to navigate this process. I guide you through the intricate maze of big law firm dynamics, expectations, and strategies for making partner. Dive into real-life stories, gain insights into firm politics, and learn practical tips to help pave your path to partnership. A few takeaways… Strategic Planning and Firm Culture Understanding: Making partner is not just about legal expertise, it's also about aligning your career strategy with the firm's culture and business objectives. Understanding the firm’s values, power structures, and strategic goals enables you to tailor your approach to work, relationships, and professional development, ensuring you're not just a legal expert but a valuable asset aligned with the firm's vision. Building a Strong Internal Network: Finding the most effective path to partnership requires more than just hard work. You need to cultivate mentors and sponsors, seek advocates among senior, influential partners, and create a broad base of support. These steps help you gaininvaluable guidance, internal referrals, and advocacy for you when it’s time for partnership consideration. Financial Acumen and Firm Economics: A deep understanding of law firm economics, and knowing how you match up against the firm’s metrics is vital in the pursuit of partnership. This involves comprehending how your work contributes to the firm’s bottom line, understanding billing, client acquisition, and retention strategies, and being able to effectively manage and generate revenue. Partners are not just legal practitioners; they are business leaders who contribute to the firm's financial health and strategic direction. This episode at a glance… [00:01:20-00:03:20]: Misconceptions and changing expectations in the path to partnership [00:03:20-00:04:44]: The importance of understanding firm culture and economics for success [00:04:44-00:06:29]: Building broad support within the firm and the complexities of internal politics [00:06:29-00:07:41]: Insights on market demands, client expectations, and adapting to the firm's strategic goals [00:07:41-00:08:28]: The impact of firm’s hiring and promotion strategies on partnership prospects [00:08:28-00:10:35]: Real-life examples and case studies from Laura’s coaching experiences [00:10:35-00:12:49]: Understanding financial metrics and profitability in law firms [00:12:49-00:14:44]: Evaluating one’s own financial and business contributions to the firm [00:14:44-00:16:28]: Building relationships and advocacy within the firm for partnership support [00:16:28-00:18:34]: Overcoming challenges and potential opposition within the firm [00:18:34-00:21:26]: Strategy, planning, and early preparation for partnership candidacy [00:21:26-00:23:57]: The importance of feedback and client input   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week! Follow now!  Ways to reach Laura Terrell www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/

It's vital for legal professionals to comprehend the details of law firm economics and the impact they have on their success. In this episode of Big Law Life, I interview Keith Maziarek, Director of Pricing and Legal Project Management at Katten Muchin Rosenman, on how to maximize value for profitable service delivery.   Keith has over 22 years of business management experience within the legal service industry and serves as a board member and officer of the Legal Value Network, a member-driven industry group dedicated to reshaping the legal service delivery model.   Keith and I discuss the genesis of strategic pricing that stemmed from the financial crisis when clients demanded better discipline in outside counsel spend, and the journey from there to the business and metric-focused approach today in the law firm industry. Ongoing tracking, budgeting, and adjustments correlate directly with the economic health of law firms, reinforcing the significance of utilizing a data-driven approach. A few takeaways … Applying data analysis and strategic decision making, firms can efficiently align pricing strategies with client parameters and budget constraints. It's not just about defining billing rates, but also about being aware of the market dynamics, understanding client expectations, and delivering value to drive profitability. Legal professionals need to evolve beyond the traditional skill set taught in law school to succeed in today's challenging legal industry. Tools such as benchmarking prove invaluable to understanding market rates and ensuring fair compensation for expertise. By leveraging financial acumen and understanding the business side of law, legal professionals can negotiate from a position of strength, assuring both profitability and value delivery to the client. Embrace a collaborative approach to pricing and project management in the legal industry for increased efficiency and client-centric solutions. This episode at glance …  00:08:37 - Evolving Role of Pricing and Project Management 00:09:56 - Building Trust and Relationships 00:12:06 - Maturing Relationships through Pricing and Project Management 00:18:02 - Challenges in Navigating Pricing and Project Management 00:22:29 - Understanding Economic Value for the Client 00:23:58 - Shifting the Conversation on Pricing 00:24:12 - Client Billing Practices 00:24:29 - Negotiating discounts and business value 00:25:47 - Economic value and pricing 00:28:36 - Benchmarking and negotiation 00:32:37 - Setting billing rates and profitability 00:34:45 - Key advice for attorneys 00:36:15 - Legal Value Network Membership Benefits 00:37:18 - Internal Training and Leveraging Resources 00:39:34 - Learning Opportunities and Thought Leadership 00:41:13 - Simplifying Complex Metrics   Rate, Review, & Follow on Apple Podcasts 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. 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! A new episode releases every week!. Follow now! Ways to reach Keith Maziarek www.legalvaluenetwork.comLinkedIn: https://www.linkedin.com/company/legal-value-network/ LinkedIn: https://www.linkedin.com/in/keithmaziarek/  Ways to reach Laura Terrell www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/