Business Partner Magazine Feature on "The Power of Change - Real-Life Examples of Ways Attorneys Advance Their Careers by Making a Change"
/The Power of Change - Real-Life Examples of Ways Attorneys Advance Their Careers by Making a Change
The Victorian novelist Mary Ann Evans made a case for the power of change when she said, “It is never too late to be what you might have been." In today’s world, Evans’s words can serve as powerful advice for attorneys who find themselves stuck in positions that are not professionally or financially satisfying.
“There are attorneys who have the talent to have a stand-out career but are stuck in the role of a worker bee,” explains Michelle Foster, Managing Partner of The Foster Group. “They have the skills and the energy to be a leader, but they are stymied in a support role year after year and never given the opportunity to achieve their potential and increase their earnings.”
Oftentimes, an attorney is trapped in a Counsel or Non-Equity Partner role at a firm which will not make them a partner. This can be for a wide variety of reasons internal to that firm, oftentimes political, tied to a firm’s profits per partner, or reflective of the strategic emphasis of the firm, but not truly reflective of the attorney’s potential. Once the attorney tests the market with a knowledgeable recruiter, they will find that there are many opportunities for them to move into a partner role. This is important not only for their self-esteem but also for their ability to build a practice (for which a partner title is useful) as well as for purposes of compensation.
The Foster Group is a legal recruiting firm that provides attorneys with a full range of services designed to help them take their careers to the next level. With decades of experience helping both attorneys and firms, the team at The Foster Group has the knowledge needed to navigate the legal market and make the right connections.
“We pride ourselves on a career-counseling approach that focuses on fully understanding an attorney’s goals and providing strategic guidance on how to achieve them,” Michelle explains. Our expertise, coupled with the long-standing relationships we have with Senior Management at top law firms, allows us to supply attorneys with the granular and often overlooked details regarding firms, their culture, and the opportunities that are available. Our approach empowers attorneys to identify and secure changes that make a significant difference in their careers.”
Finding a position that matches your potential
The example of a worker bee stuck in a support role is one of many Foster offers of attorneys who can benefit from the advocacy, insights, and connections legal recruiters can provide. Others include attorneys who work for boutique firms specializing in one area, limiting the type of clients and matters the attorney can originate - therefore requiring them to farm out work in practice areas that their firm does not handle, which can be particularly frustrating to an attorney working to grow their practice - and attorneys who work for smaller firms where work is less sophisticated and billing rates are lower.
Working for a firm where billing rates are too high and where attorneys are required to raise their rates each year, can also be limiting in the area of career growth.
“In some cases, firms only want the ‘choicest work’ from the ‘choicest clients,’ which typically involves higher billing rates, “ Michelle says. “This also limits the type of clients an attorney can bring in. Moving to a firm with greater rate flexibility empowers an attorney to bring in a broader range of clients and work, which allows them to grow their practice and increase their compensation.”
Michelle recently worked with an entrepreneurial attorney whose earning potential was limited because the Senior Partners at his firm were taking all of the credit for client originations. With the help of The Foster Group, the attorney was able to move to a bigger firm, get credit for his originations, and raise his rates. The move put him in a leadership role that came with commensurate compensation.
“It’s common to see attorneys who are the day-to-day person working with clients, maintaining relationships, and even forming friendships, but who lose the lion’s share of the origination credit to a senior partner, “shares Drew Foster, Managing Director at The Foster Group. “In a situation like that, making a move to a new firm brings about considerable change for the better.”
Knowing when it is time to make a change
Limitations in the area of compensation will often serve as the impetus for change. However, other factors can come into play. For example, an attorney may feel compelled to look for employment elsewhere if their firm announces strategic goals that are at odds with the attorney’s primary practice. Other issues that may trigger the desire for a change are not having the support staff needed to work efficiently or not being provided with mentorship that can help guide growth. Internal policies or other administrative dysfunction can sometimes leave an attorney feeling de-energized and unhappy with their present position.
Whatever the situation, turning to a recruitment firm is the next step in making the change that can advance an attorney’s career.
“We’ve been building strong relationships with top firms for more than 25 years, placing countless attorneys, often in leadership positions, who effectively supported the strategic goals of the firm while also advancing their own careers,” Michelle explains. “As a result, those who turn to us can have confidence that we will get them a close look from the right people at the right firms.”