Paths to Partnership Getting Longer
The fast track to partnership may not be as fast as it used to be. We did a quick survey of our clients to check on what the party line was for the length of partnership tracks. Last year when we did the small survey, we found that, overwhelmingly, firms were saying the track was “7 to 9 years” and many firms said that even six years was possible. In our recent survey, the typical response was “eight years.” Not a single firm responded with a period of less than eight years and one-third of the firms said that most candidates make partner in a
period longer than eight years. While this is an unscientific survey, it is supported by a recent study by the Texas Lawyer which found that among associates promoted to partner on January 1, 2004, 43% graduated from law school in 1993 or earlier. Only 19% made partner in less than 8 years. The big exception is Jenkens & Gilchrist where the track is only seven years. In Washington, firms are increasing the use of “Counsel” as a stepping stone to partnership.

At Wilmer Cutler & Pickering, associates are considered for Counsel at 6 ½ years and come up for partnership consideration two years later. At Hogan & Hartson, associates become eligible for a “special” partnership level at 7 years with future promotion to full partnership on an unspecified track. Hogan uses the Counsel position for associates who are doing well but are not ready for partnership. The average seems to be consideration for Counsel or nonequity
partnership at 8 ½ years and consideration for equity partnership three years later.

Getting the Message?
NALP has recommended shortening the time period in which students must respond to law firm offers. This has been a long standing concern for recruiters as top students refuse to decide among offers until the deadline, making it difficult for firms to make offers to second tier students. The recommended rules will allow students to hold up to five offers until September 15th, four until October 1st and three until October 15th. The reaction of most recruiters we’ve talked to is that the rules are so Byzantine that the change makes little difference.

Cut-Rate Corporate Legal Services
We recently heard about two firms that are pursuing discounted rate strategies. In San Francisco, Silicon Counsel, a new law firm serving the tech community is touting partner rates of $200 to $250 per hour, roughly one-third of large firm rates. Detroit’s Dykema Gosset acquired a 78-attorney firm in Chicago and intends to bill at $300 to $325 per hour.

Legal Resource Group LLC specializes in serving the executive and administrative recruiting needs of law firms. We maintain the largest data base of law firm executive and Administrative staff in the world.  This allows us to immediately identify the very best candidates. We find the best people, complete searches faster and have extremely reasonable fees. For further information, visit our website at www.LRGLLC.com , contact us by e-mail at inquiries@LRGLLC.com or by phone at 1-800-688-4147.