| Topic Name: |
What if I don't make Partner? |
| Message Name: |
too open ended |
| Date Posted: |
08/28/2001 |
| In Reply To: |
Is it true that we will take significant cuts in salary after failing to make partner about 7 years as an associate? What happens to those who don't make partner? Do they get MBA's?
Is it wiser to join small/midsized firms that pay less but offer greater job security?
What kind of salary can one expect to make if they join a small/midsized firm after 8 years of experience. What are the chances of making partner at this firm, and what kind of pay do they offer as a partner? |
| Message: |
Lawyers who don't make partner by the "expected" year
(7 in some firms, 10 in others, there's no one standard for all people in all firms), go to another firm. Usually, large firm lawyers go to a smaller firm, but not always--it has to do with skill sets and business generation ability. Salary for associates at small firms can range from the same at large firms to much less than large firms.
Similarly, partner income can range from much more than large firms to much less.
Small/midsized firms do not necessarily offer more or less job security than large firms--it just depends on the firm and the situation. Most who don't make partner at large firms end up getting into a partnership at a small firm, and do fine. Some who don't make partner, or (as once in a while happens, and which is in some ways worse) those who make partner but then don't have the originations to stay
in the firm and are laid off,
have a really hard time.
It really all comes to which firm you join, how well you do there, what practice skills you build there.
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