INQUIRY:   Should I leave my current business-oriented law firm and seek a partner-level role at a new firm that focuses on general, professional and product liability litigation defense (which are my areas of practice) where the legal fees are generally paid by insurance carriers? 

I am a partner in a litigation practice within a multi-practice law firm that has a business/commercial focus inclusive of a large transactional component and supporting commercial litigation practice.  The billing rates for most of the firm's practices are higher than the rates that I bill to my clients (generally insurance carriers), so I'm often pressed by management to increase my rates, and to reject work that is deemed by management to be at rates that are incompatible with the firm's strategies. Meanwhile I'm pressed by my clients to reduce my rates, otherwise they may seek out attorneys to service them at lower rates.

 

RESPONSE:

At the outset, you must ponder the extent of the benefits you are receiving at your current law firm and your job security there.  Some things to consider:

  • Do you value the corporate culture and environment?
     
  • Are you receiving work from other attorneys in the firm for which you are adequately compensated?
     
  • Does the firm provide assistance in marketing your services?
     
  • Is there any cross-marketing with the other practice groups that accrues to your benefit?
     
  • Do you believe your compensation is in line with other attorneys at your firm who are billing a similar number of hours?
     
  • Do you believe that your relationship with the firm is vulnerable? 

If your cumulative and weighted responses (based upon the areas of concern that are most important to you) are negative, you should consider alternatives to your current employment.  Bear in mind that exploring alternatives to your current employment (by considering various business models, cultures, and work environments) helps you crystalize issues and solutions for personal and professional growth and happiness..

The fundamental question:  Where do you see the best value to you now and into the future?

Written by Lawrence D. Dicker, Founder and National Managing Director of The Knight Consulting Group Ltd.

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