As we come into some lovely summer weather (sort of!) I wanted to talk about the final part of the recent Lexis Nexis survey of associates and senior associates.
Career progression was stated as both a reason for staying and a reason for leaving at the same level – 36% of people in each instance saw it as a driver to go or a motivator to stay.
This month: Are you looking for Career progression?
The report was very much focused around what this means, in a world where partnership is not always seen as the end goal. 25% of associates wanted to be a partner at their current firm within 5 years, 26% wanted to be promoted, only 7% wanted to stay in the same role. So, of people wishing to remain it is still clear that the vast majority need to be on an upward trajectory to fulfil their ambitions.
Firms have addressed this in various way, creating roles of legal director, managing associates, principle associates etc. What I hear from people is that they want to be recognised for their years of experience, for what they can bring to the table, but that they don’t all want to lead people, manage people or take on all the other responsibilities of partnership.
It is a unique system in law where so many ambitious people are put together, sometimes problems will occur as everyone strives for the “top spot”. As is often the case the start of a rewarding career is to understand your own motivators.
What do you want and why? What are the realities of your life, your time, your energy. The report used phrases like ‘disloyal lawyers’ moving roles and ‘are half of all associates happy merely coasting in their careers?’. But what if lawyers are just wanting a role that works for them, something where they can enjoy the work they do and the life they have at the same time?
Disloyal = choosing a role that is right for them according to their own criteria, not that of their current firm
Coasting = choosing not to take on all the pressures of partnership in order to sustain a healthy balance
So long as 25% of associates want to be a partner in the next 5 years then surely that is enough of the profession to supply the leaders and mangers of the future? If it was 75% wanting the top job, then we would all need to run for cover!
Underneath all the figures about who wants partnership, not to be forgotten are the others – 13% not sure what they want in the next 5 years. 4% moving in house (in the market it feels like this number is higher when I talk to people!) 3% leaving law, 4% going freelance. Added altogether there are 25% of associates and senior associates who don’t want to remain in private practice. So, if one in 4 of your colleagues is ready to leave then the profession needs to make sure they are bringing in all the new, enthusiastic talent they can to replace that quarter of your firm and provide growth.
Whatever your career plans get in touch to talk them through and understand your options within the market as well as within your current firm.
Feel free to book a time to talk in my diary, pick up the phone or reply to this email to discuss any aspect of your legal career.
