While everyone’s route to partner in a Big 4, Magic Circle or Mid-Tier firm is different, there are four main routes to making partner. In this blog post I share an exclusive extract from the 2nd edition of ‘How to make partner and still have a life’ (Click here for a free sample chapter) and explore why you should consider one of the four routes, the lateral route to partnership, if you are considering making partner in a Big 4, Magic Circle or Mid-Tier firm.
The lateral route to partnership
The lateral route to partnership has become more common in recent years. Most firms expect that they will need to regularly augment their talent pool with experienced hires from outside the firm. This happens where the firm hasn’t been able to develop their own talent in a particular specialism, or the firm chooses to bring in an experienced hire for strategic reasons, eg the experienced hire brings with them a valuable client portfolio. You will need to seriously think about choosing this route to partnership if:
- your route to partnership within your firm is blocked by more senior members of your practice area who will make partner before you, and, in all probability, significantly slow your career progression;
- your personal values are clashing with the firm’s values;
- you are not excited by the thought of spending the whole of your career with your current firm;
- you feel as if your face doesn’t fit within your firm;
- you’ve had some personality conflicts within influential parts of the firm and believe that people will block your way;
- you feel as if you won’t be able to achieve all your life goals if you make partner within your current firm;
- you are not excited and passionate about your firm’s clients and likely future clients;
- your firm is experiencing financial difficulties and growth of the firm is looking very unlikely;
- your firm has many partners within your particular specialism, none of whom is likely to leave or retire in the short or medium term;
- you want variety, to experience work in more than one firm before making partner.
To find out why you should consider the other 3 routes to partner, read chapter 3 of How to make partner and still have a life’