There are many reasons you may consider leaving your current firm to embark on a new phase in your law career. Numerous factors are involved in attaining your professional goals. How do you know if it’s time to make a change? Here are some fundamental elements to consider and questions to ask yourself if you’ve begun thinking about a move.
As a professional service provider, your clients are your lifeblood and they will be a primary consideration for a move. When you have a solid book of business, but you feel like another platform would serve your clients more effectively, think about how the change might benefit them.
- Could a move help you better serve your clients?
- Would it allow you to offer more services to your clients?
- Is your current platform hindering you from garnering new clients?
- Would a move offer more cross-marketing opportunities?
- Would a new firm help you leverage your list of clients to your colleagues and vice versa?
- Is your platform thought of as a strong platform for the type of law that you practice?
Another crucial factor to consider when making a change is your own career advancement. If your current firm is plagued by bad leadership and you are eager to take on more responsibility and facilitate your own growth, then the time may be now for a move. Here are some additional factors to consider as you reflect on your options.
- Will the new opportunity allow you to move into a leadership position?
- Are you currently under another partner’s shadow?
- Are you eager to help solve a problem or fill a need at another firm where you can advance to a higher level?
- Would you like to lead an entire practice group or the local office of a national firm?
Next, let’s talk about money. There’s no getting around it – money is a powerful motivator when making a move. If your current firm has high overhead and is skimping on its compensation packages you are wise to consider your options. It can be incredibly dispiriting to wait on the promise of better compensation that is always on the horizon but never comes to fruition. The “dangling carrot” isn’t a good incentive for those attorneys who are working hard and bringing in business for the firm.
- Does the new firm offer incentive-based compensation? Success should be rewarded and incentive-based compensation packages are great way to do that.
- Does the firm have an open compensation or is it closed?
- Is their compensation plan for partners fair?
- Does the overhead that the firm incurs match what they are providing you in return?
- Is there a system of residual income from partners who no longer produce?
Other aspects of the firm to examine are its stability and culture as well as its leadership. If your current firm has high turnover and not enough business, then it’s not a stable place to be. It’s critical to match the leadership style within a firm to your own communication and productivity style. If you are looking to advance, be sure that the new firm fosters a culture where everyone has a voice and their input is valued.
- Does the firm’s leadership inspire action?
- Is there a balance between involvement and individual freedom?
- Does the firm suffer from a culture of cronyism?
- Does the culture foster growth and contribution?
- Do you believe in the direction that the firm is taking?
Take the time to reflect on these factors when you consider leaving your current firm. These will help you know if it’s time to make a change and launch into the next phase of your law career to attain the challenge and reward you are looking for.
Are you looking for a new opportunity?
We assist attorneys in building their brand, building their practice, and finding fulfilling, lucrative work. We partner with some of the best law firms in the country and have great success stories of the attorneys we have placed. If you are considering a change, contact us to talk about your options and discover more about how we can help you to maximize your professional opportunities.