What’s Left in Your Wallet?

We are each born with a deposit in our bank accounts.
The deposit is TIME!

We don’t know how big the deposit is, but we do know that each day there is a debit from the account. Awareness of this should embolden each of us to spend our deposit wisely and consciously, in both our personal and professional lives.

When it comes to the precious time you spend at work, it is a deliberate, fully thought-out professional life that maximizes our potential for success and fulfillment.

Don’t delay examining your career and your current employment situation. Ask yourself: Am I spending my time wisely? Am I happy? Am I appreciated? Does my current position satisfy my intellectual, emotional and economic goals?

We cannot redeposit time poorly spent, nor can we “go backwards” and recover wasted time. Our careers take up an incredible amount of our deposited time, so it is very important that our careers be meaningful to each of us.

Contact me via email at lwiesenthal@cmwsearch.com to talk about spending your personal deposit of time with joy and wisdom.

You Love Your Firm, But Your Practice and Compensation are Stuck

“I respect and enjoy my partners but my personal practice is not growing at the firm.”
— Too many attorneys

As a legal recruiter I have often heard from attorneys who find themselves in this very quandary.  This is a tough situation especially if you feel guilty about considering a move.  At the same time it may be impossible to grow your practice if you stay put.

My advice in this situation is dependent on whether you are generating your own work and how important it is to you to have your own clients. These are important considerations from the perspectives of both compensation and personal fulfillment. If your compensation is dependent on your personal generation of revenues, then it is important to identify a platform that is conducive to the continued growth of your practice.

As you search for that platform, keep in mind that there may be another firm out there that has already invested in your practice area, with resulting synergies that can propel your practice to a new level.  Engaging with such a firm will facilitate growing your practice and will result in enhanced compensation and ultimately great personal and professional satisfaction.  You may naturally grow into a leadership role as a result.

In order to achieve your goals it is important to develop a relationship with a trusted advisor who understands the market. Create a partnership so that you can stay abreast of opportunities that are worth your time to consider.

Consider this road map to guide your analysis:

  1. Am I the only (or one of a very few) partner(s) in my practice area at the firm (in my office)?
  2. Do I generate most of my own work?
  3. Do other partners need my expertise?
  4. Am I invited to joint pitches for clients of the firm?
  5. When I analyze my “numbers”, are my billable hours directly relatable to my originated clients?
  6. Does my compensation directly relate to my client originated revenues?
  7. I think I could generate more work and develop more clients if the platform was deeper within my expertise?
  8. I think I have a desire to grow my practice, increase my compensation and my exposure within my industry?

Now please take one more moment and give us, CMW Legal Search, a call to discuss the market as it relates specifically to your stated goals!  Our number is (212) 328-6180.

Success = Opportunity + Skills

Matching the right opportunity with your well-developed and specific skills is the key to a successful and rewarding career.  That sounds easy, right?  However, the truth is that it takes bravery and an openness to the market.

If you are unhappy with your current position because you are not challenged, or you feel unappreciated, or there isn’t a clear path for advancement, get to know your market!  If you feel that your best attributes (i.e. specific expertise in a discreet practice area, business development) are not being rewarded or realized, you owe it to yourself to understand if your highest potential can be realized on a different platform.

I recently worked with someone who was a non-equity partner at a small firm with unpredictable profitability. Although this attorney was highly regarded, she was frustrated that there was no room in the group for a new equity partner. Therefore, her professional growth and compensation were capped. I presented an opportunity within a high profile group in a profitable firm. This opportunity was precisely suited to her skill set and it resulted in an immediate and positive career advancement, including compensation, status and professional growth. The group in the new firm “needed” her and therefore the compensation and status reflected that need.

Take control of your career and your potential. Call a trusted recruiter to know your market. Most importantly, be open to an opportunity that feels right and speaks to your personal advancement and then take the leap. Trust yourself and your skills!

Rock Out (without the Rocks)

Enjoy office holiday celebrations and stay on partner track. Three pointers a senior associate should follow.

  1. Alcohol is not your friend. Stick to one drink on the rocks and then switch to seltzer or water with a twist.
  2. Every conversation is meaningful. Because you are being evaluated to join the partnership, the reality is that you need to be aware of your interactions. Each conversation could be your final one before the “vote.” Keep it appropriate and relevant to work.
  3. Don’t stay too late and don’t attend the after-party. Leave the party on a high (natural) note and as a non-memorable attendee. The memories that you should be creating on the path to partnership should relate to your legal accomplishments not “dancing on the table.”

Happy Holidays!

© 2017 Corrao Miller Wiesenthal Legal Search Consultants, Inc.