(312) 781-9000
01 Nov

Important Factors Affecting Partner Lateral Moves

by: Astor Professional Search

When is the best time for partners to make a lateral move? According to a report released by ALM Intelligence, the most important factors in making a successful lateral move include time of year, stage in a partner’s career, and whether the move is to a firm with a higher or lower PPP.

Legal, signature and contract with people planning on documents for partnership

ALM Intelligence journalist, Hugh Simons, notes “fall seems to be the time of year to start exploring seriously so that you can move early in the new year.” According to the report, early in the year moves are more common and more successful with 35 percent of moves occurring in the first quarter compared to 15 percent in the fourth quarter.

A second aspect of timing is the stage of career at which a partner decides to move. Data from the report revealed lateral success rate is highest for movers in their 50s. The last factor affecting lateral success included whether the move was to a firm with a higher or lower PPP. The data revealed that retention was higher for moves made to higher PPP firms.

“The key takeaway for law firm leaders is more fundamental than the dynamics of lateral partner moves. Rather it is to observe that PPP is not just a reflection of performance; it is also, and more importantly, a critical determinant of competitive strength. Ultimately, as the best lawyers go, the best clients follow – competition for the strongest partners is competition for the great clients that underlie a firm’s long-term strength and vitality,” Hugh Simons notes.

See the full report and article on The American Lawyer.

Contact Bill Sugarman for more information.

author-bio-image author-bio-image
William Sugarman

William Sugarman is the president and founder of Astor Professional Search. He engages in the successful placement of attorneys with local, regional, and international law firms and corporations. Bill’s extensive legal and business development experience give Astor an edge over other legal recruiters nationwide. At the cornerstone of Bill’s strategic philosophy is providing the highest level of personalized attention to his clients and attorney candidates. This is also a key factor that separates Astor from other legal search firms, and it consistently delivers legal placements year after year.

Years of Experience: More than 20 years

Share it here
Related Posts
17 Nov Legal Industry Adds Nearly 5,000 Jobs in Six Straight Month of Gains, Report Finds
Legal Industry Adds Nearly 5,000 Jobs in Six St...

The American Lawyer reports that the legal industry added nearly 5,000 jobs last month, marking the sixth straight month of job gain...

14 Sep Managing Partner Compensation Expectations in a Record Financial Year
Managing Partner Compensation Expectations in a...

How do successful leaders and firms manage their compensation expectations in a record financial year? A recent article by The Ameri...

22 May Law Firm Optimism Up as Pressures Remain on Rates, Survey Finds
Law Firm Optimism Up as Pressures Remain on Rat...

Legal industry professionals say prospects for their future legal business look bright, but cite pricing pressures and cybersecurity...