Lateral Link

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Katherine Hagman is a Director at Lateral Link where she places associates and partners throughout Chicago and the Midwest. She was a Corporate Recruiter in-house for one of Chicago’s fastest growing companies, and has several years of experience placing attorneys at Chicago law firms and companies. Katherine graduated magna cum laude from the University of Illinois at Urbana-Champaign and received her J.D. from Suffolk University Law School in Boston.

“We’re hiring!” it says. While intrigued by the opportunity, you are not really sure if you should consider a job change at the moment. You are happy where you are and so it just doesn’t feel like the “right time.” After all, they are nice to me here. It’s not so bad. It’s probably not any better across the street. Then again, maybe it doesn’t hurt to look. You can’t decide what to do!

While it is good to trust your gut, there are concrete elements that are going to be very valuable for your career trajectory as an attorney. For the sake of this article, let’s assume you are happy in your job and that if you weren’t, you would work on fixing that or move on.

I’ve been working with lawyers on their careers for the past seven years and it can be hard to really put your finger on whether or not you’re at the right place. This can change over time and it’s more or less a moving target.

I’ve created this quiz to help you take the temperature of your current job and to help you see if you need to think about moving somewhere warmer. Keep reading below for a breakdown of each question…

double red triangle arrows Continue reading “Taking The Temperature Of Your Career”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Abby Gordon is a Director with Lateral Link’s New York office. Abby works with attorney candidates on law firm and in-house searches, primarily in New York, Boston, and Europe. Prior to joining Lateral Link, Abby spent seven years as a corporate associate with Cleary Gottlieb, focusing on capital markets transactions for Latin American clients in New York and for the last five years for European clients in Paris. A native of Boston, Abby holds a J.D., cum laude, from Georgetown University Law Center and a B.A. in government and romance languages, magna cum laude, from Dartmouth College. Abby also worked with the International Rescue Committee as a Fulbright Scholar in Madrid, Spain. She is a member of the New York Bar and is fluent in French and Spanish (and dabbles in Portuguese and Italian).

In the first part of this series, I discussed picking the right practice area and picking the right firm to optimize your opportunities for working overseas.

In this second part of the series, I will touch on the importance of language skills for various regions and practice areas. I will then discuss the potential downsides and sacrifices involved in working overseas for a portion of your career. Finally, I will talk about what you can be doing now to best position yourself for a move overseas….

double red triangle arrows Continue reading “Planning For A Legal Career Overseas (Part II): Language Skills, Caveats, And What You Can Be Doing Now”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Abby Gordon is a Director with Lateral Link’s New York office. Abby works with attorney candidates on law firm and in-house searches, primarily in New York, Boston, and Europe. Prior to joining Lateral Link, Abby spent seven years as a corporate associate with Cleary Gottlieb, focusing on capital markets transactions for Latin American clients in New York and for the last five years for European clients in Paris. A native of Boston, Abby holds a J.D., cum laude, from Georgetown University Law Center and a B.A. in government and romance languages, magna cum laude, from Dartmouth College. Abby also worked with the International Rescue Committee as a Fulbright Scholar in Madrid, Spain. She is a member of the New York Bar and is fluent in French and Spanish (and dabbles in Portuguese and Italian).

If one of your career or personal goals is to work as a U.S. lawyer overseas, you need to start preparing and positioning yourself very early on. In this two-part series, I will first discuss picking the right practice area and picking the right firm to optimize your opportunities for working overseas, keeping geographical considerations in mind.

In the second part of this series, I will discuss the importance of language skills for various regions and practice areas. I will touch on the potential downsides and sacrifices involved in working overseas for a portion of your career. Finally, I will talk about what you can be doing now to best position yourself for a move overseas….

double red triangle arrows Continue reading “Planning For A Legal Career Overseas (Part I): Picking The Right Practice Area And The Right Firm”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

The average tenure for a Biglaw partner is 5.2 years. 5.2 years! If your last lateral move coincided with the death of Michael Jackson, then there is a strong likelihood that you will be on the move again soon. To those outside of the legal world there is a general incredulity as to why attorneys move so often and whether firms are really that different. But alas the Am Law 200 is not a stamp of approval and the quality of Am Law firms greatly varies (and does not linearly correlate to Am Law ranking).

There are a multitude of reasons that attorneys leave and the entirety cannot be covered by a single list, but here are the most popular reasons why attorneys make lateral moves…

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Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

The “Legal” world versus the “legal” world. The actual practice of law versus the construction of practices and firms. These are diametrically different disciplines, and while the demand for “Legal” work influences the “legal” world phenomenon of lateral hiring, many other market conditions dictate demand and compensation for partners.

Partners are often sequestered from the tedious details of the lateral market and, consequently, they often undersell themselves to firms and subsequently become underpaid. If you’re a partner looking to make a move, here are 5 beginner’s tips to maximize your lateral partner compensation package:

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Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Abby Gordon is a Director at Lateral Link, focusing on law firm and in-house searches, primarily in the New York region, Boston, and Paris.

I was a paralegal before law school. I took four years between undergrad and law school, so I knew a herd of practicing lawyers when I was still applying to law school. I thought I had a leg up on everyone; I thought I had it all figured out. But in hindsight, I realize that there was a lot I did not know — not in law school and not as I made my way through seven years as an associate with a top international law firm.

Now as a legal recruiter, I see associates making the same mistakes over and over. I wish law schools would do a better job of preparing students for the practicalities of the legal industry and not just teach the substance of the law. But until they do, here is my list of key points to understand and mistakes to avoid…

double red triangle arrows Continue reading “25 Things All Young Lawyers Should Know In Order To Not Screw Up Their Legal Careers”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

Home to 80 degree Januaries, the lateral market has been equally hot in L.A. to start the year. The first six weeks of the year showed unmistakable improvement over last year and even bested 2012. The national lateral market is up 43% while the Los Angeles market is up 126% from 2013. Lateral Link alone is currently working with over 200 partners with aggregated practices north of $250,000,000.

The strong Los Angeles trend is highlighted by the recent move of John Shaffer into Quinn Emanuel’s bankruptcy practice. Shaffer, one of the nation’s preeminent restructuring lawyers, should bolster an already stacked Quinn Emmanuel office.  Winston also just picked up two prominent partners, Eva Davis from Kirkland and Dan Passage from Bingham.   Last, but not least, John Gatti left Stroock for Manatt.   I predict a dozen or more significant moves over the next few months in Los Angeles alone….

double red triangle arrows Continue reading “The 2014 Lateral Partner Market Seems To Be On The Rise, Especially In Los Angeles”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

A good recruiter can identify window-shoppers. We are all tempted to do it. You walk down Rodeo Drive and on your left, the polished chassis of a Bugatti Veyron catches your eye and on your right, the muted silver of Lamborghini Veneno flickers in the sun. A Lamborghini or Bugatti would more than satiate most people, but the titans of Biglaw are always chasing that elusive Maybach Exelero and in the process, they may at the same time alienate top-tier “Lamborghini” lawyers.

This condition is endemic to some of the top Am Law 100 law firms. Despite their massive push for expansion, many firms are still hesitant to bring in outstanding lateral candidates. The process is also torturous for the candidates who go through multiple rounds of interviews before they are finally turned away for bill rate concerns or potential conflicts, not even mentioning the opportunity costs of time for everyone involved in the process…

double red triangle arrows Continue reading “Don’t Let Firms Window-Shop Your Résumé And Book Of Business”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Scott Hodes is a Principal in Lateral Link’s South Eastern office. He utilizes his experience as a former partner to help partners and associates make lateral leaps in the Florida and Atlanta markets.

With the new year upon us, we look back at an exciting 2013 as we have witnessed a resurgence in the legal industry after enduring a rocky time during the recent recession. As economic and labor market conditions improve, many firms are seeing sustained signs of growth, especially in the South Florida market.

As evidence of this growth trend, one need not look any further than Miami-based Akerman Senterfitt, now known as Akerman LLP. With more than 550 lawyers and government affairs professionals, Akerman recently became the largest law firm in South Florida based on number of attorneys, eclipsing Greenberg Traurig. Akerman reported its third consecutive year of growth, with record gross revenues of $297.5 million and net income of $109.3 million for the 2013 fiscal year. From January 1, 2013, to date, 65 attorneys, including 19 partners, have lateraled in to the firm. During that same time period, only seven attorneys departed the firm.

double red triangle arrows Continue reading “Sunny Days Forecasted For Florida Market”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

What can we expect for the first quarter of 2014 in terms of the lateral partner market? As I have detailed before, the market is generally volatile and the rate of change of each month and quarter from year to year is difficult to predict. In our calculations, the number of lateral movements in December accounts for less than 20% of the variation in lateral movements in January. However, on average there are 2.4 times as many moves in January as there are in the previous December (but this ratio is subject to much volatility).

Let’s look at some data:

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