After 10 years of experience in your firm, you’ve gained invaluable experience, built a strong network with clients and colleagues who can rely on your professional advice and you have made a lasting impact in your firms culture and operations. At this stage, you may be tethering on the idea of becoming a partner within your firm. A life-long ambition for many in the legal landscape, the stage which represents success in your legal career.
Typically, to advance to partnership a lawyer needs 10+ PQE experience, so if you’re debating whether to progress into partnership, having those internal discussions to make your career goals known would be a good idea now.
Partnership brings an increased recognition and reward, but you need to fully understand the potential implications and pros and cons when deciding whether it is a step which is right for you.
To make the next step a little bit easier, we have broken down the main responsibilities and requirements it takes to become a Partnership of a firm, and whether these stages are suitable and align with your career plans.
Guidance on how to secure a partnership
Network
Becoming a partner is a crucial and important role, so getting your face out there is important as people need to know you as someone who isn’t scared of leadership or putting themselves out there. You won’t become a partner by lurking in the shadows and hiding behind your other colleagues.
You should be building up a strong and extensive professional network, as showing that you can retain a strong relationship with previous clients and external peers shows emotional intelligence and build a business development.
Stand out from the crowd
Start building up and showcasing your value to set yourself up for the many roles and responsibilities that accompany this heavy role.
Make yourself known for exceeding expectations, and going above and beyond to surpass targets and be the voice which juniors and other colleagues turn to for support, advice and guidance.
To be considered a valuable candidate for a partnership role, you must encompass these key skills required of partners:
- Management
- Industry awareness
- Leadership skills
- Being an avid team player
- Empathy and open to help others
Partner responsibilities
The level of responsibilities all depend on the size and management of the firm, as partners become more senior it is likely that their influence and responsibilities increase.
Specific obligations will vary depending on each partner role in each firm. In the smaller firms, the responsibilities include heading specific internal functions of the firm such as IT, HR and marketing.
Other roles could include taking on department head roles with responsibilities for the growth of the department, technical development and people recruitment.
Typically, partner responsibilities include:
- Handling the firm’s strategy: Setting the firm’s strategic direction including financial planning, expansion strategies, and hiring.
- Building the client portfolio: Partners are expected to build client portfolios, secure new business, and maintain existing client relationships.
- Mentorship & Training: Partners are responsible for training and conducting performance evaluations for associates and trainees.
If you are considering becoming a partner, you need to build a portable client base, demonstrate leadership and develop a niche specialisation. Alongside building strong internal relationships, find mentors, and make your partnership ambitions known early.
For more in-depth guidance on how to take your first steps into partnership, speak with one of our experienced legal recruiters, who can match you with possible partner positions tailored to your needs and skills: https://www.craconsultants.com/
