Lawyers: What Would It Take for You to Leave Your Firm?
Tariq Sheikh
Connecting Top Lawyers with Premier Law Firms | "The Sports Agent" For The Legal Elite | For Partners + Team Moves
Introduction
As we stand on the cusp of 2025, the legal market continues its rapid evolution, challenging long-held assumptions about what it means to practice law at the highest levels. Though the concept of “firm loyalty” remains a cornerstone of many practitioners’ careers, the forces shaping the industry now demand a more fluid, forward-looking approach. Partners who, not too long ago, viewed longevity in a single institution as the mark of professional success increasingly recognize that platforms must continually adapt to remain competitive and meet client expectations.
This shift is evident in the accelerating rates of lateral movement among partners in the Am Law 100, Magic Circle, and other leading law firms worldwide. Market volatility, disruptive technology, and shifting client demands have become fixtures of the legal landscape. Where once a partner’s brand may have been inextricably linked to their firm, today’s clients focus on individual expertise, responsiveness, and creative problem-solving—criteria that transcend the walls of any single organization.
In many senses, the legal sector entered the 2020s with a fresh perspective but faced immediate global challenges. Although the heights of the COVID-19 pandemic are behind us, its impact reverberates throughout how, where, and when lawyers work. Remote and hybrid models that were once the exception have become the norm, allowing attorneys to serve clients efficiently without the traditional barriers of geography or rigid office culture. This transformation has opened the door for partners to explore a wider range of opportunities, from global mega-firms to hyper-specialized boutiques, without fear of losing client relationships that are now more portable than ever.
Against this backdrop, even the most steadfast, institutionally minded partners may find themselves asking a critical question: “Is my current firm truly equipped to support the next phase of my career?” The factors prompting this introspection are as varied as the partners themselves. Perhaps compensation structures no longer align with one’s contributions. Maybe technological resources or marketing budgets lag behind client expectations. Or perhaps leadership changes indicate a strategic pivot that leaves a partner’s primary practice area under-resourced and undervalued.
This near-2025 marketplace is not merely about the ability to negotiate a higher paycheck (though that remains a significant motivator). Instead, it increasingly revolves around access to cutting-edge tools, leadership opportunities, and alignment with a broader strategic vision. Forward-thinking partners want to ensure that their firms can accommodate new or expanding practice areas—whether it be ESG (Environmental, Social, and Governance) compliance, emerging fields like blockchain and cryptocurrency, or highly regulated sectors such as digital health and biotech. Clients, for their part, demand more specialized and proactive counsel, often with real-time advice powered by advanced data analytics.
Where does this leave partners who are re-evaluating their future? As the pace of partner mobility continues to accelerate, the question “What would it take for you to leave your firm?” has never been more relevant. It is a query that compels partners to examine three core drivers: compensation (or simply “money”), firm support for practice development, and control over one’s professional destiny. Each driver embodies a complex set of considerations. Taken together, they form the framework that a partner should use to assess whether a move—or, conversely, staying put—best serves their interests and those of their clients.
This article delves deeply into that decision-making matrix. We will begin by outlining the principal factors that motivate partners to contemplate leaving their current firms, followed by an exploration of why proactively “taking the temperature” of the market can significantly benefit those partners who are open-minded about change. Next, we will discuss how a thoughtful, discreet approach—especially when guided by a trusted recruiter—can yield a smoother transition and more favorable outcomes. Finally, we will examine the unique dynamics at play as we inch toward 2025, highlighting why this is a particularly auspicious time to entertain new possibilities.
If you have ever caught yourself thinking, “Could I be doing more elsewhere?” or “Am I earning what I’m truly worth?” this conversation aims to help you clarify your options. The legal industry’s fluidity need not be seen as a disruption but as an opportunity—to evolve, to ascend, and to align your practice with the platform and colleagues that best suit your ambitions. In the end, the goal is not to fuel rampant lateral hiring for its own sake, but to empower individual partners to make strategic, well-informed decisions about where they can most effectively serve clients and achieve professional fulfillment.
Section 1: The Key Drivers Behind Partner Moves
1.1 Money
Compensation remains one of the most straightforward but powerful considerations for any lateral partner. Even as many firms experiment with new methods of setting partner pay, the primary tension usually revolves around whether a partner’s financial reward is commensurate with their effort and the revenue they bring to the firm. This is especially pertinent in late 2024 heading into 2025, as a renewed “talent war” has spurred some firms to offer eye-catching packages to attract top performers.
The term “money,” however, can oversimplify the conversation. Compensation is not just about base salaries or drawings; it also encompasses bonuses, capital contributions, profit-sharing percentages, and short-term guarantees. Firms eager to secure marquee laterals might extend multi-year guarantees, which appeal to partners who want to mitigate the uncertainty often tied to a new environment. Conversely, an “eat-what-you-kill” or purely merit-based model can entice entrepreneurial partners who believe they can out-earn lockstep systems by controlling their own destiny.
Recent surveys of Am Law 100 and major regional firms show that average profits per equity partner (PPEP) continue to climb, with some top-tier firms surpassing $5 million PPEP. While not all partners will land at such lofty heights, these figures highlight the upward pressures on compensation. From a partner’s perspective, the key question becomes how well your current firm’s payout structure reflects the value you deliver. If you have built a robust practice, but internal politics or outdated compensation formulas prevent you from reaching your financial potential, you may sense an urgency to explore the market. In a high-demand area—such as cybersecurity, technology transactions, or private equity—under-compensation feels especially keen because competing firms might pay significantly more for your specialized expertise.
At the same time, “money” can be symptomatic of deeper organizational issues. A partner who feels undervalued from a compensation standpoint might also be dealing with a lack of professional respect. If your efforts to cross-sell or mentor associates go unnoticed—or if your client relationships are taken for granted—these frustrations often interweave with financial dissatisfaction. Sometimes, the intangible factors become just as important as the pay itself. In other words, financial considerations can serve as both a catalyst and a bellwether of broader misalignments between partner and firm.
1.2 Support
A firm’s capacity (and willingness) to support its partners’ practices has become an increasingly decisive factor in late 2024 and early 2025. Law firms today face sophisticated, tech-savvy clients who demand both specialized expertise and efficient service delivery. Partners need robust infrastructure, advanced research tools, a well-staffed team, and a culture that encourages cross-departmental synergy. When this support is lacking, a partner’s best-laid plans can quickly fizzle.
The technology realm provides a striking example. Firms that adopted cutting-edge artificial intelligence (AI) tools for due diligence, contract review, and litigation analytics during the past few years have positioned themselves to streamline large-scale projects and offer more competitive fee structures. They also stand out to clients who value innovation and cost savings. Partners whose firms have not kept pace with these developments may find themselves at a disadvantage, struggling to compete on high-stakes deals or complex litigation that require sophisticated data analysis or secure client portals. The mismatch can hinder partners who are otherwise well-positioned to capture more market share in a rapidly evolving legal sector.
Marketing and business development support also play a critical role. Although many partners bring in their own clients, growing and retaining those relationships is rarely a solo endeavor. Modern marketing efforts increasingly call for dedicated teams armed with data analytics, social media strategies, and refined branding initiatives. Firms that excel here can expand a partner’s client base through cross-selling, well-orchestrated industry events, or targeted campaigns that position them as thought leaders in their practice areas. Without this level of support, partners face the uphill task of wearing too many hats—managing full client workloads while performing advanced marketing functions on their own.
Lastly, partner integration and leadership buy-in are integral parts of “support.” If you transition to a new firm and find yourself siloed, or worse, competing with entrenched groups that guard client relationships, the initial excitement of higher compensation might wane quickly. Conversely, if the firm’s leadership invests time and resources in integrating lateral hires—introducing them to firm clients, embedding them in relevant committees, and coordinating joint pitches—you are far likelier to thrive. Support, then, is a holistic concept, encompassing everything from the firm’s technological sophistication to its cultural willingness to champion the success of new arrivals.
1.3 Control Over the Future
Perhaps the most personal driver behind partner moves is the desire for autonomy and self-determination—what we might call “control over the future.” By the time a lawyer reaches partnership, they have typically spent a decade or more building professional credibility, cultivating client relationships, and honing their areas of expertise. At this stage, the question becomes whether the firm’s governance, business model, and strategic direction allow the partner the freedom to leverage these hard-earned assets optimally.
For many partners, control translates into input on firm leadership decisions, such as who chairs committees or how practice groups are structured. Others prioritize the ability to chart their own path with regard to billing arrangements, alternative fee proposals, or the ability to launch new practice lines. Succession planning, too, can loom large—particularly as we head into the mid-2020s and see a generational changing of the guard. Established partners want confidence that their firm will perpetuate their legacy, support their associates, and care for longstanding client relationships well into the future.
Meanwhile, some partners relish an entrepreneurial approach. Boutique firms, for instance, often grant considerable autonomy in terms of how partners market themselves, manage client relationships, or distribute profits. For lawyers who crave independence and a startup-like environment, this can be a compelling draw. Conversely, large global firms might offer top-tier prestige but impose layers of bureaucracy that could dampen a partner’s ability to innovate quickly.
In sum, the triad of money, support, and control underscores most partner moves. Each factor carries nuanced sub-concerns that reflect a partner’s specific context—such as practice area demands, client portfolio size, or even personal lifestyle considerations. The better you understand these drivers, the more empowered you are to make informed, strategic decisions about whether (and when) to consider leaving your firm.
Section 2: The Value of Exploring the Market
2.1 Proactive vs. Reactive Approaches
Despite the legal sector’s growing acceptance of partner mobility, many attorneys remain hesitant to test the waters unless they’re feeling acute discomfort at their current firm. That hesitancy can lead to reactive decision-making. In a reactive scenario, a partner might initiate a lateral search only when frustration with compensation hits a peak, or when a significant client threatens to leave unless the partner moves to a more resource-rich platform. Such rushed exploration leaves little room for due diligence, often forcing partners to accept offers that solve an immediate problem but fail to align with broader career aspirations.
By contrast, a proactive approach involves periodic—and discreet—market check-ins, even (or especially) when you feel content at your current firm. This strategy mirrors how businesses conduct routine audits to ensure operational efficiency. A partner who stays informed about compensation benchmarks, new firm launches, and practice area expansions can weigh the pros and cons of their present situation against viable alternatives. From this standpoint, exploring the market does not necessarily commit you to a move. Rather, it informs you about what is out there, how you compare, and whether your firm truly remains your best fit.
A proactive exploration may reinforce your decision to remain put. But in other cases, it can open your eyes to value propositions you never knew existed—firms offering advanced marketing resources for your niche practice, better cross-selling potential, or geographical expansion that aligns with your client base. This knowledge, in turn, can either be leveraged internally (to negotiate better terms or additional support) or externally (to find a platform that truly suits your goals).
2.2 Opportunity Cost of Staying Static
Opportunity cost is a concept borrowed from economics, referring to the benefits you miss out on by choosing one option over another. In a legal context, the “option” in question is usually staying at your current firm. While many partners hesitate to uproot themselves due to convenience or loyalty, the cost of staying put can accumulate over time if the firm no longer serves as an optimal platform.
From a purely financial standpoint, a partner who remains at a firm that underpays relative to the market can lose out on millions of dollars over a decade—money that could have been reinvested, saved, or used to diversify a financial portfolio. From a professional development angle, being tethered to a firm with limited resources or a weak brand in your specialty can prevent you from capitalizing on surging demand in a hot practice area. You also risk losing talented associates who seek more dynamic environments, further weakening your capacity to service new clients.
Opportunity cost isn’t merely a numbers game; it also includes intangible factors like prestige, growth potential, and client synergies. A partner stuck at a stagnant firm might watch less-experienced attorneys gain rapid prominence at more agile firms. Over time, these missed chances—whether measured in lost billings or lost recognition—can cumulatively impede your career trajectory. By the time you finally decide to move, your star may have dimmed relative to peers who seized prime opportunities earlier.
2.3 Confidential and Insight-Driven Exploration
One of the most common reasons partners shy away from exploring the market is the fear of exposure. In a relationship-driven industry like law, reputational risk looms large. Nobody wants rumors swirling about their potential move before they’ve even spoken to another firm. This is precisely why a confidential, insight-driven approach is paramount.
Working with a discreet recruiter or a trusted mentor in the field can help you gather vital information without broadcasting your intentions. These professionals can provide granular details about prospective firms, including cultural nuances, practice group performance, and strategic growth plans that may never make it into press releases. By anonymizing initial inquiries—disclosing your credentials and practice specifics without revealing your identity—recruiters can gauge interest from firms and vet potential fits. You, the partner, can then engage in more formal discussions only if the preliminary signals are promising.
An insight-driven process also delves beneath the surface to assess less obvious factors that might impact your satisfaction at a new firm. Will you be required to relocate, or is remote work an option for your practice group? How does the firm handle marketing budgets, and who controls them? What is the environment for female or diverse partners? These considerations may not always be evident from a firm’s website or standard pitch materials, making confidential inquiries indispensable for a well-rounded evaluation.
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Section 3: No-Pressure Representation
3.1 The Benefits of a Discreet Recruiter
Not all recruiters are created equal. In an industry as specialized and relationship-driven as BigLaw, the best recruiters operate with a keen sense of discretion, an extensive network, and a partner-focused mindset. They do not blast out partner resumes to countless firms; instead, they act as your personalized career advisor, learning about your ambitions, style, client mix, and ideal firm attributes before making any moves.
A discreet recruiter also knows how to maintain anonymity during early market exploration. This includes engaging in broad-level conversations—“If a partner with X million in portable business focusing on life sciences transactions were to move, would your firm be interested?”—without revealing the partner’s name. Only once the target firm expresses genuine interest, and the partner agrees to proceed, do identities come into play. This approach spares you from appearing “on the market” to your own colleagues or other prospective firms prematurely.
Additionally, an exceptional recruiter provides a candid, data-rich view of the market. They will share compensation ranges, partnership track complexities, the firm’s lateral success track record, and whether cultural tensions exist that could affect your integration. This information is rarely found in public sources, underscoring the value of having a well-connected intermediary.
3.2 Success Stories: Smooth Transitions Through Informed Analysis
Stories abound of partners who have executed seamless moves with minimal disruption—often thanks to a methodical, low-pressure approach. Take, for example, a senior intellectual property (IP) partner who found that her multinational firm lacked the specialized focus her biotech clients demanded. Through a discreet recruiting process, she identified a mid-sized, IP-centric firm that provided the scientific backgrounds, marketing budgets, and global alliances she needed. In less than six months, she made the move, bringing her top-tier client base with her. Key to her success was the recruiter’s thorough market analysis, which narrowed her options from a dozen potential suitors to just two that truly aligned with her needs.
In another instance, a real estate partner in a secondary market sought a platform with stronger national reach as commercial developments in his region were being spearheaded by out-of-state investors. With the help of an experienced recruiter, he opened dialogues with several regional and national firms. Ultimately, he chose a regional powerhouse known for real estate deals, precisely because they shared a strategic vision for geographic expansion. The transition was free of the panic often associated with lateral moves; client introductions were staged carefully, and he benefited from immediate cross-selling opportunities in the firm’s finance and tax departments.
These anecdotes illustrate how vital data, timing, and strategic matchmaking can be in realizing a partner’s full potential. Indeed, the difference between a chaotic lateral shift and a well-executed one often comes down to whether you have the right information at the right time—and a support system that respects your pace rather than rushing you into a decision.
3.3 A Partner-Centric Process
Critically, a no-pressure representation model places the partner’s well-being at the forefront. This means you do not feel hounded by constant follow-ups or artificially urgent timelines. Instead, the recruiter or advisor respects that you have an ongoing practice to manage and clients to serve. Their role is to support, not to push.
Underpinning this partner-centric philosophy is the understanding that each partner’s aspirations are unique. Some prioritize short-term earnings growth, while others care more about building a legacy within a specialized practice. Some want a brand that opens global doors, while others seek a boutique environment that grants them day-to-day autonomy. A thoughtful recruiter asks the right questions, listens carefully, and tailors recommendations to match those distinct objectives.
In essence, no-pressure representation ensures you have the space to deliberate and weigh all factors—financial, professional, and personal—before making a decision. It is a process that echoes the way many lawyers approach client matters: methodical, cautious, and grounded in evidence. By taking that same approach to your career, you improve your odds of finding a platform where you can flourish for years to come.
Section 4: Why the Time is Now
4.1 Current Market Opportunities
As 2025 nears, the legal industry is in a period of significant flux and expansion. Many firms, having weathered the shocks of the early 2020s, are now casting a broader net to capture market share in growth sectors—like fintech, life sciences, climate transition, and cross-border transactional work. With general counsel offices becoming more discerning about which outside firms they engage, the competition for legal talent is fierce. Law firms recognize that bringing on an experienced, well-connected partner can be the key to securing relationships with Fortune 500 and emerging companies alike.
This environment spells opportunity for lateral candidates who can demonstrate a substantial book of business or specialized expertise. Simply put, your skill set and relationships have tangible worth in a market hungry for new revenue streams. Firms seeking to bolster a given practice area may allocate sizable onboarding budgets to attract the right individual or team. They might also fast-track lateral hires into firm leadership, ensuring you have both the title and the influence to shape the direction of your practice group.
Moreover, the increasingly global nature of commerce necessitates that law firms maintain strong presences in multiple jurisdictions. As a result, the appetite for lateral movement extends beyond the traditional major markets of New York and London. Partners in places like Austin, Miami, Dubai, and Singapore may find themselves courted by out-of-region firms eyeing expansion. This trend can be especially appealing for partners who prefer not to uproot their family or lifestyle yet still crave a national or international platform.
4.2 Demand for Lateral Moves
Quantitative data on lateral partner hiring supports the narrative that movement remains robust. Industry analysts predict that the final quarter of 2024 and first quarter of 2025 will see a surge in lateral activity, driven by healthy profits at many major firms and renewed confidence in global economic growth. This wave of hiring is not restricted to the Am Law 50; mid-sized firms, boutique practices, and even virtual law firms are all in play, each offering a unique value proposition.
Companies have grown more willing to “follow the partner,” recognizing that trusted counsel is less about the name on the firm’s letterhead and more about the individual lawyer’s skill, judgment, and personal rapport. As a result, clients rarely object to lateral moves—provided the transition is handled with care and does not disrupt ongoing matters. That assurance emboldens partners to explore new platforms without the fear that clients will jump ship.
If you operate within a high-demand field—say, you handle data protection compliance or manage large-scale patent portfolios—your market power grows exponentially. In some cases, partners who excel in these areas receive multiple overtures and must weigh competing offers that vary in terms of compensation structure, firm governance, and marketing resources. The abundance of choice can be exciting, but it also underscores the importance of approaching lateral negotiations with a clear sense of your priorities.
4.3 Shifts in Firm Priorities
Since the early 2020s, law firms have been forced to rethink old paradigms, from compensation committees to how they deliver value to clients. Many are reorienting their practice group allocations, diverting resources toward booming sectors such as ESG, cybersecurity, cross-border M&A, and alternative dispute resolution. This realignment often involves firm leadership making tough choices about which practice areas to elevate and which to de-emphasize. Partners whose specialties do not align with emerging strategic plans may feel left behind, spurring them to consider firms that are more receptive—or proactively encouraging—of their area of focus.
At the same time, the pandemic-induced shift to flexible working arrangements has lingered. Many partners and clients alike value a balanced hybrid approach that accommodates remote meetings, asynchronous communication, and cloud-based collaboration. Firms that embrace this flexibility tend to attract partners who prize work-life integration and the ability to hire talent from broader geographies. On the flip side, firms clinging to rigid, office-centric models sometimes struggle to retain attorneys who have grown accustomed to greater autonomy and geographic mobility.
All these shifts combine to create a perfect storm of opportunity for partners who are open-minded and willing to reevaluate where they can best position themselves for the second half of the decade. Whether your priority is better tech infrastructure, progressive client-service models, or a robust firm culture that supports your growth, the market is teeming with options that simply did not exist a few short years ago.
4.4 Potential Risks of Waiting Too Long
Despite the wealth of opportunities, there are also risks in waiting too long to test the market. The first is competition from other laterals. Prime positions at the most sought-after firms often fill quickly, especially if the firm has a strategic imperative to develop a particular practice area. If you linger on the sidelines, the firm that once might have offered you a leadership position could fill that need with another talented partner.
The second risk relates to timing your move when your practice is at its pinnacle. If you wait until your practice begins to wane—or until a key client leaves—your negotiating leverage decreases. Firms are keenly aware of a partner’s client list and revenue track record; moving while you’re still on an upward trajectory can help secure more favorable compensation, better integration support, and even potential equity stakes if the new firm operates that way.
Third, staying in a suboptimal situation too long can take a personal toll—on your energy, your professional happiness, and potentially on your client relationships. It is no secret that a partner’s mindset has an enormous impact on client service. A partner who feels stuck or undervalued is unlikely to dedicate the same enthusiasm to existing matters or new business pitches as someone who feels empowered and recognized by their firm.
Conclusion: Let’s Talk
As we approach 2025, the question “What would it take for you to leave your firm?” resonates more powerfully than ever. The legal industry’s competitive landscape, combined with transformative trends in technology and client expectations, has elevated the stakes for law firm partners evaluating their current platforms. The triad of financial gain, robust practice support, and increased control over one’s professional future provides a useful framework to determine whether your firm can keep pace with your aspirations—or if the time has come to find a better-suited environment.
By examining these factors thoughtfully, you position yourself to act from a place of knowledge rather than urgency or desperation. Whether you ultimately choose to stay put and negotiate better terms or embark on a new journey at another firm, the key is to ground your decision in accurate, up-to-date market intelligence. No-pressure representation by a skilled recruiter or advisor can equip you with all the necessary data—ranging from compensation benchmarks to firm cultures—so that any transition you make is both strategic and seamless.
Reiterating the Benefits
Close with an Invitation The legal market’s fluidity at the threshold of 2025 means opportunity abounds for partners willing to explore. If you have ever entertained the idea that you could achieve more on a different stage, consider initiating a discreet, no-obligation conversation. No names, no pressure—simply a chance to gauge whether your current environment is the best fit for the road ahead.
If any part of this resonates with you, let’s talk. Message me here or connect via email. Think of this as due diligence for your career—akin to the careful fact-finding you do for your clients. In the best-case scenario, you discover fresh possibilities that align with your ambitions. In the worst case, you confirm that you are already in an ideal spot. Either way, you emerge better informed and better prepared to navigate the evolving legal landscape.
Remember, you have worked too hard, built too many relationships, and honed too many skills to settle for a platform that no longer meets your needs. By embracing the question “What would it take for me to leave my firm?” you empower yourself to shape your future rather than letting external circumstances shape it for you. The timing could not be more opportune. The path forward—whether it is at your current firm or elsewhere—is yours to define.
Research Analyst - International Arbitration
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