Am a senior associate in a very small market - but at #1 firm here.
Recently got scouted by another top local firm to join as a junior/non-equity partner.
Money is more or less the same.
The decision is complicated primarily because I plan to move to NYC in about 1-2 years.
And I'm hoping to be able to get a job at Biglaw.
(1) Wouldn't it be easier to lateral to biglaw if you are still associate?
(2) If I take this offer, by the time I try to move to NYC firm, I'd have been to 5 different jobs already. Maybe 4 and 5 isn't that much different but maybe it is?
Should I take this junior partner offer? Forum
Forum rules
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
-
Anonymous User
- Posts: 432111
- Joined: Tue Aug 11, 2009 9:32 am
-
Best
- Posts: 72
- Joined: Mon Aug 19, 2019 9:56 am
Re: Should I take this junior partner offer?
I assume you don't have a book of business or, if you did, they wouldn't follow your move to NYC?
-
notinbiglaw
- Posts: 280
- Joined: Thu Jul 25, 2019 9:05 am
Re: Should I take this junior partner offer?
Since you're planning to move to NYC... wouldn't having "partner" on your resume be rather helpful? I spitballing here but that's what I am seeing? I honestly don't know anything about lateralling at that level given the circumstances.
-
LaLiLuLeLo
- Posts: 949
- Joined: Wed Jun 08, 2016 11:54 am
Re: Should I take this junior partner offer?
Probably the opposite if OP doesn’t have a book or a small one. If you come in as an associate you can have 1-3 years of ramp to make partner. Coming directly in as partner would require at least some book of business and the firm would have to get comfortable that OP would grow the book.notinbiglaw wrote:Since you're planning to move to NYC... wouldn't having "partner" on your resume be rather helpful? I spitballing here but that's what I am seeing? I honestly don't know anything about lateralling at that level given the circumstances.
-
Anonymous User
- Posts: 432111
- Joined: Tue Aug 11, 2009 9:32 am
Re: Should I take this junior partner offer?
OP here.LaLiLuLeLo wrote: Probably the opposite if OP doesn’t have a book or a small one.
No big book yet and def wont follow me to NYC. That said even if I take this partner offer am not looking to lateral as a partner.
In other words, I am wondering whether I have a better shot to join as associate or counsel if I am a partner willing to lower down (at least in title) as opposed to an associate lateralling as associate.
How would that be perceived?
Will I be more marketable/employable ad an associate?
Want to continue reading?
Register now to search topics and post comments!
Absolutely FREE!
Already a member? Login
-
Anonymous User
- Posts: 432111
- Joined: Tue Aug 11, 2009 9:32 am
Re: Should I take this junior partner offer?
I think it would be a red flag to some firms. They’d probably wonder why a partner is okay settling for an associate role.
Also, I’ve seen partners go to real biglaw as counsel, but these are usually people with significant books ($1m+). A couple of partners from my current firm had bigger books but they had to become of counsel/counsel at the V10 they went to because their books weren’t big enough. However, I think they still earned what they were making at my firm as partners (around $1m), so the trade off was good.
However, this may very well depend on what you consider biglaw.
There are plenty of lower AmLaw firms with significant numbers of nonequity partners with almost no book. If you don’t mind these positions, being a partner already may help. I think these firms probably pay their nonequity partners $300-400k. At my old firm, the only requirement to make nonequity partner was that you have the potential to bring in business or generate enough hours.
But if you want real biglaw, being an associate may be helpful for lateral purposes.
Edit: more info.
Also, I’ve seen partners go to real biglaw as counsel, but these are usually people with significant books ($1m+). A couple of partners from my current firm had bigger books but they had to become of counsel/counsel at the V10 they went to because their books weren’t big enough. However, I think they still earned what they were making at my firm as partners (around $1m), so the trade off was good.
However, this may very well depend on what you consider biglaw.
There are plenty of lower AmLaw firms with significant numbers of nonequity partners with almost no book. If you don’t mind these positions, being a partner already may help. I think these firms probably pay their nonequity partners $300-400k. At my old firm, the only requirement to make nonequity partner was that you have the potential to bring in business or generate enough hours.
But if you want real biglaw, being an associate may be helpful for lateral purposes.
Edit: more info.
-
Anonymous User
- Posts: 432111
- Joined: Tue Aug 11, 2009 9:32 am
Re: Should I take this junior partner offer?
I can’t see how this would be a bad move. It is going to be difficult to lateral into NYC biglaw as a senior associate - usually firms just reach up the chain and pull down senior associates from more prestigious firms. As a partner you will have a little more optionality and a better opportunity to sell yourself as someone other partners have chosen to rely upon.
Also depends on practice area - are you a specialist or is it more generic M+A/litigation? If a specialist, you might have a greater opportunity to come in as a NE partner or counsel.
Also depends on practice area - are you a specialist or is it more generic M+A/litigation? If a specialist, you might have a greater opportunity to come in as a NE partner or counsel.
-
justanotherlurker
- Posts: 86
- Joined: Wed Feb 08, 2012 7:11 pm
Re: Should I take this junior partner offer?
I think we need to know more about your plan to move to NYC biglaw.
Would you be offering to take a substantial class year cut to make the transition? Are you a generalist (litigation? corporate?) or a specialist of some sort? Do you have ties to NYC biglaw firms? Clerkships? Government experience?
With what we know now, and without a book of business, I think the path to NYC biglaw is extremely uncertain.
That all said, would the title of partner provide you with anything (skills, networking opportunities, business development opportunities) that the other firm would not?
Would you be offering to take a substantial class year cut to make the transition? Are you a generalist (litigation? corporate?) or a specialist of some sort? Do you have ties to NYC biglaw firms? Clerkships? Government experience?
With what we know now, and without a book of business, I think the path to NYC biglaw is extremely uncertain.
That all said, would the title of partner provide you with anything (skills, networking opportunities, business development opportunities) that the other firm would not?
