Why Law Firm Attorneys With More than Five Years of Experience Need to Think About Getting Portable Business Now

 

Harrison Barnes

If you are a senior associate, of counsel, or partner, how important is portable business when making a move to another law firm? Most junior to mid-level associates are told to concentrate on developing their skill sets so they can become great attorneys. So, you put your head down, do good work, learn from the senior associates and partners, get good year-end reviews, and you feel you are learning and growing as an attorney. Before you know it, you're a senior associate, respected by your peers and performing well on all work given to you. From this point, there are three things that can happen if you want to stay in a law firm environment: (1) you leave your firm, (2) you are promoted to of counsel at your present firm, or (3) you become a partner at your present firm. We will analyze whether portable business is important in all three scenarios.

Senior Associates
Depending on the region of the country and the size of the firm, a senior associate can range from 6-12 years of experience in a particular practice area. If you are a senior associate, you are probably trying to make partner at your present firm. If partnership is important to you and you believe down the road you're not going to make partner at your present firm, you should think about leaving your firm immediately. Depending on your practice area, you should still have some marketability and be able to move to another firm. For example, senior corporate M&A, commercial real estate, and finance associates are all in demand as of today. However, if you are a seventh-year litigation associate without business, it may be difficult for you to move firms depending on the region of the country. Most firms do not like taking older associates without business. Although you have more experience than your younger counterparts, there are a couple of reasons why the move may be a difficult one.

Generally speaking, firms do not like to hire senior-level associates because the firm's current senior-level associates become a little uneasy. Some of the questions the senior-level associates start asking themselves and others are as follows: Why do we need another senior associate? Are they bringing this person in to replace me? Is this person going to make partner before I do? Am I even going to make partner?

This causes a strain on the current senior associates; and in some cases, they may leave their firms for other firms. The partners in the group get upset because the most trusted and relied upon associates in the group start to leave. The second reason is due to law firm economics. Firms would rather just give the work to a mid-level associate because they can bill the mid-level associate at a lower rate, thus making their clients happy. As a result, the firms are mainly looking for associates with 2-5 years of experience.

So what do you do if you are a senior-level associate without business in a slow practice area? You should start exploring your options. You can stay at your current firm for as long as you can and hope that you get promoted to the title of counsel, move to a smaller firm where your expertise and skill are valuable assets, or move to an in-house position.

Of Counsel
If you are an of counsel-level attorney at your present firm, you probably have a unique skill set that the firm values. If you do not have portable business and you want to relocate geographically or leave your firm for another, it will probably be very difficult to find a position unless you move to a firm that needs your specific skill set. In this case, the firm may have a lot of existing business in your particular practice area and would like someone with your expertise to assist with firm clients and their legal matters. However, in most cases, for economic reasons, most firms would rather hire a mid-level or senior-level associate rather than an of counsel. Although you may have an easier time in some cases than partners to move firms because your salary expectations are probably lower than those of partners, it still may be a difficult road.

Partners
A partner with significant portable business can usually move to any region of the country or any law firm of his/her choice. He/She is a commodity. And even if a firm is not looking for that partner's particular practice area, if he/she can start a practice, in cases where there is synergy with the rest of the firm, the firm will welcome the partner and the business with open arms.

When a partner does not have portable business, there are a few situations where the partner can move firms: (1) the partner has been very successful over his/her career and has established an outstanding reputation in the legal community, and the firm would like to start a practice or would like a prestigious partner on its roster; (2) the partner has shown in the past that he/she has been able to build a book of business, but because of a host of reasons, he/she does not have much portable business at the moment, but still has potential to grow his/her business; or (3) the partner has a specific expertise or knowledge in an area of the law that the new law firm would like to acquire to assist with its existing client base. Generally speaking, beyond these situations, it is going to be very difficult for a partner to move without portable business. Today, most law firms are trying to stay lean and hire partners who are able to bring business.
 

• See The Four Types of Attorneys: The Finder, Minder, Binder and Grinder for more information.

If you are a good attorney and have portable business, you will be in the driver's seat of your career. If you are a good attorney and do not develop business as a senior associate, of counsel, or partner, you still have some options. It's just a matter of finding the right fit. In all cases, you should consult a legal recruiter to help you transition from your current firm. The legal recruiter may be able to present you to his/her clients in the best light possible and therefore open the door where normally it may be closed.

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About Harrison Barnes

Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.

With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.

Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.

Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.

One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.

One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.

Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.

In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.

Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.

In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.

About BCG Attorney Search

BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.