Signs I will make partner? Forum

[Anonymous User]

Do firms ever bring on summer associates with an eye on them one day taking over a particular partner's book of business? In other words, how far into the future do firms plan partnership transitions? Is the recruitment mainly done by way of mid-level laterals or is it possible it can be done 7-10 years out?

[polareagle]

Do firms ever bring on summer associates with an eye on them one day taking over a particular partner's book of business? In other words, how far into the future do firms plan partnership transitions? Is the recruitment mainly done by way of mid-level laterals or is it possible it can be done 7-10 years out?

No. No firm is planning that far in advance (nor could they, given changing market conditions and the unpredictability of when a partner will retire/defect to another firm or a client will be lost).

That being said, there are a few firms (e.g., Cravath, Wachtell, Williams & Connolly, Susman) that rarely if ever hire lateral partners or senior associates, so to some extent they are populating their future partner classes with their summer (/ post-clerkship) hiring. But even these firms (which are the exception rather than the rule) are not planning for individual summers to take over positions for individual partners--that's fantasy.

[thisismytlsuername]

Do firms ever bring on summer associates with an eye on them one day taking over a particular partner's book of business? In other words, how far into the future do firms plan partnership transitions? Is the recruitment mainly done by way of mid-level laterals or is it possible it can be done 7-10 years out?

Literal lol. "Wow, that summer was so impressive that we need to give him a full time offer so that in 10 years when Randy Mastro starts to transition out we can hand him Randy's book!"

[hdr]

Do firms ever bring on summer associates with an eye on them one day taking over a particular partner's book of business? In other words, how far into the future do firms plan partnership transitions? Is the recruitment mainly done by way of mid-level laterals or is it possible it can be done 7-10 years out?

LOL

[Anonymous User]

I'm a junior lit partner (equity) in a significant market, also in the V30. Dropped by TLS tonight for the first time in a long time, and this post looks like the best place I can add value.

If you're a rising 7th year, this is the perfect time to out yourself as wanting to make partner and have a frank conversation with your mentors. You don't need to ask what the odds are of making partner or whether you are "partner track," at least not using those words. But here are the related questions to which you need and deserve the answers after putting in as many as 6+ years for them:
- Do your mentors perceive a business case in the upcoming 2-3 years for a new, homegrown partner?
- What can you do to strengthen your level of internal support for partnership (e.g., broader experience with more types of litigation tasks (esp. deep depo, hearing, trial experience); range of partners you've worked with; spread of clients; involvement in business development; etc.)
- What might be the biggest challenges to your partnership candidacy and are there steps you can take to overcome them (which will depend on whether those challenges are internal to you or external to the firm, the market, the economy, etc.)
- Can they shed any insight on why there has been no homegrown promotion for a long time, and do they think that is likely to change.
- What role (if any) does a "book of business" play in the decision to promote an associate to partner? (Largely a question for one-tier firms; for a two-tier partnership, the book of business will be a chief factor in moving you into the equity tier.) What I mean when I imply that lack of a significant book of business may not be a dealbreaker for a one-tier firm is that many firms are pragmatic about the idea that litigation attorneys in years 9-12 are not often going to be at the top of the pleading in large, bet the company litigation in which partners and senior associates bill four figures per hour (which is the type of litigation V30s focus on these days.) So they are prepared to promote based on the potential for downstream business generation rather than insisting that you have 1-5M in portable business to make partner.

You should not feel presumptuous about asking these questions, nor should you dance around them (and if your firm thinks you should, there's something off-kilter there.) If the answers plainly indicate you should lateral, you will want to do so ASAP since it becomes much harder to lateral as a senior associate than a midlevel (firms are reluctant to take lateral seniors both because they don't want to demoralize their own homegrown partnership candidates and because there can be a perception that if you are trying to lateral as a senior, something must have gone wrong at your prior firm (like your being told you won't make partner).)

FWIW, here's how the signaling/dialogue worked for me with my firm (we have a nine year track):

I told my firm that I wanted to make partner at the start of my sixth year. I was concerned I was being presumptuous, and they were surprised by the declaration/seemed to think it was a little early to have the conversation. But they indulged me and laid out what I needed to do if I wanted to make partner. It was good guidance: I took notes on the conversation and referenced them throughout my associate years. By early seventh year, several partner mentors were openly (but informally) messaging me that things looked promising if I kept doing what I was doing. By the start of my eighth year, the formal guidance from the firm was that I was viewed as a strong candidate if all continued to go well, and they were prepared to invest in me as to certain opportunities reserved for partner-track seniors. By the start of my ninth year, the formal messaging was, your candidacy is extremely strong, and this is almost certainly going to happen unless something goes seriously sideways this year. I was notified of the promotion in the late fall of my ninth year.

Hope this is helpful, and good luck.

OP here. This is quite helpful. Thank you. I will do this immediately following my upcoming eval (provides it’s at the same level as the others have been).