In a rapidly changing legal environment, what does it take to ‘make partner’? Are hours billed or cases won still the key criteria? Or does today’s aspiring partner need to offer more than mere legal brilliance?
It’s an interesting time for the legal profession and no doubt a challenging one. Mergers, consolidation and pricing pressures are changing the shape of the industry and forcing firms to become more innovative and efficient.
Dib Lawyers chief executive Simon Mouatt says the traditional pathway to a successful and rewarding legal career, a summer clerkship in a major firm, is no longer the norm in an environment of tightened conditions. But competition shouldn’t be a deterrent to pursuing a career in law.
“Don’t get me wrong,” Mouatt says. “It is a dream worth striving for if you are prepared to do the hard work and take the risk of your bid not paying off.”
Surry Partners director Maged Jebeile says economic uncertainty has placed a lot of pressure on legal practices and the goal posts are shifting.
“We’re starting to see greater client focus on value for money, efficiency and specialised areas of skill,” he says.
Jebeile says lawyers looking to have a long and fulfilling career in the legal profession must set goals to establish a clear career direction.
Becoming a partner
While billable hours will always be relevant to operations, the focus for law firms is shifting. There is now greater emphasis on the business and professional skills needed for practice development, running efficient operations, adaptability to market conditions and developing new revenue streams.
Jebeile says a focused plan for professional development in key market areas, in addition to achieving long-term goals such as specialist accreditation, is essential.
“Utilise every marketing opportunity to expand your circles and networks. Identify your areas of specialty and promote your expertise within the profession through, for example, writing journal articles or case studies, demonstrating your expertise.”
Jebeile also suggests attending a practice development course with a focus on entering into partnership within the relevant size of your firm.
“These short courses offer a great insight into the role and expectation of partners and the driving forces within practice management.”
Mouatt emphasises the importance of knowledge and management skills, business development and leadership.
“Today’s legal partner needs to focus on business development as much as practicing law,” he says. “Partners are expected to have moved from a legal technician into a ‘rainmaker’ who is continuously developing new revenue streams into the business.
“To achieve this, today’s partner needs to be an accomplished networker who seeks to create long-term relationships with current and potential clients.”