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BCG Attorney Search
BCG Attorney Search Articles Section

• Identity Crisis: Law Firms' Stringent Vetting of Partner Candidates Reaches a New Level
  Having spent the past week vetting resumes from partner candidates who are exploring the market, something from my college days keeps coming to mind. It's a play called 'dentity Crisis by Christopher Durang. One of the core moments within such play is a dialogue between the character Jane and her psychiatrist, Summers:
• Standing Out from the Crowd: A Former In-house Attorney's Perspective on the Role of Effective Outside Counsel
  In these crazy economic times, companies of all shapes and sizes are exploring ways to minimize their operating expenses and overhead costs in order to avoid being the next Lehman Brothers. One of the first costs to be cut and/or minimized is outside legal fees. As a result, partners are rightfully concerned about their relationships with both existing clients as well as prospective clients and how to best solidify and foster those relationships. In my experience as a former in-house attorney at a well-respected private equity/investment management company, I have utilized the services of numerous law firms, some of which were very effective in their duties as outside counsel while others were, unfortunately, not as much. This article addresses several different, and relatively simple, ways in which outside counsel can demonstrate their worth to a client that can help them stand out from the crowd and solidify that relationship.
• Making Rain: Ingredients for Success
  What is the secret to building a book of business? Why do some partners succeed in developing work while others, who appear to have everything going for them, are unable to get off the ground? The intangible factors are very important. They include self-discipline, gumption, interpersonal finesse, and a willingness to risk. Setting aside the intangibles and issues that vary from firm to firm, such as billing rates and how matters are credited, to begin the focus has to be on a number of core ingredients that are required and need to be adjusted on an ongoing basis:
• Strengthening Your Book of Business in a Weakening Economy
  In difficult economic times, the knee-jerk reaction of many partners is to hunker down and hold on for dear life to the clients they already have. Smart partners, however, will use the weakening economy as a stepping stone to increase their books of business — perhaps dramatically — by deepening personal and business relationships with existing clients and, more importantly, seizing upon opportunities with new clients. These partners will emerge from the economic slowdown atop the heap, while the overly-cautious partners will miss critical opportunities to grow their client bases.
• Attention All Partners: Help Me Help You
  There seems to be some debate, so let me settle the issue: I do not read minds. The recruiters at BCG are all talented people blessed with an enormous array of gifts, but, sadly, they lack that particular talent as well. At least the last time I checked.
• Transition Tips for Partners Changing Firms
  Departures from a law firm are complicated for any attorney, but for a partner the details can be quite intricate. Please note: First and foremost, the interests of your clients should be absolutely paramount. Consultation with existing ABA and state bar guidelines on firm transition is suggested.
• Choosing a Recruiter for Your Lateral Partner Search
  In this challenging economy, lateral associate hiring is down overall while there is an active market for lateral partners with portable books of business. Partners have different needs and objectives than their associate job-hunting counterparts. As a lateral partner, it is important to retain a recruiter who understands these specific needs and can manage your expectations accordingly. A job search can be stressful but the right recruiter can alleviate many concerns throughout the process. Over the past decade, many partners have come to BCG Attorney Search looking for a new home for their practice and we have been happy to work with them.
• Making a Lateral Move as a Partner: Questions to Ask in these Uncertain Economic Times
  Unless you practice law under a large, windowless rock, you are well aware that the economy is in turmoil. With this comes a decrease in lateral associate hiring, a drastic reduction in the number of in-house opportunities for lawyers, and a general sense of panic for most of us. However, one positive change we are seeing is the increase in lateral partner recruiting by law firms around the country. These uncertain economic times have led many top law firms across the country to try to bolster their partner ranks by taking advantage of the talented (and lucrative) partners on the market.
• BCG's Top 10 Reasons Partners Should Move During a Recession
  Lateral partner hiring is resilient in even the worst economic conditions. Thus, despite the current credit crunch, lateral partner hiring has increased nationwide and firms are continuing to supplement their ranks with partners with business. Partners with business should evaluate their current firm's status and determine whether it is a good time to make a strategic move. Why would any partner decide to move in such a tumultuous legal market? There are a number of good reasons partners should consider moving to another firm in an economic downturn.
• Two-Tier or Not Two-Tier? The Equity Partnership Dichotomy
  One of the most pronounced trends among the nation's top law firms in the past 10 years is that most firms — the overwhelming majority of firms — are two-tiered partnerships. A decade ago, 80 percent of the 100 largest law firms in the United States were single tier equity partnerships. Now 80 percent are two-tiered partnerships (see, e.g., '''De-equity' Stirring Big-Firm Partner Ranks'' by Dick Dahl for Lawyers USA, August 27, 2007). Although the importance of retaining a single-tiered partnership may seem diminished given the groundswell in favor of promoting non-equity partners, there are still important considerations in choosing between a one- or two-tiered partnership.
• The Top Five Objections Partners Give to Preparing a Business Plan — Overruled!
  I am a recruiter who believes that every candidate (partners and associates alike) should have a game plan. It's like my favorite football team — the USC Trojans. Every week, Pete Carroll and his staff develop a game plan that is tailored to the opponent of the week. It's all about undertaking the proper level of preparation that will eventually lead to success.
• The Second-Best Way for a Law Firm Partner to Do Business Development
  Let me get this out of the way: the very best way for an attorney to acquire business is through relationships. This would include family, friends, and family friends. As a young attorney placement recruiter, I placed a visit to the Beverly Hills office of Finley, Kumble, Manley et al. based in NYC. Marshal Manley was the resident partner in charge. I met with him in his beautiful, spacious office there on Wilshire Boulevard in Beverly Hills. His office and his demeanor reminded me of the movie Wall Street with Michael Douglas. During our brief meeting, I said to Mr. Manley: ''Mr. Manley, what does it take for an associate to make partner at your firm?'' Marshal Manley said: ''Ted, tell who his father is!''
• Age vs. Experience Discrimination
  Due to the economic crisis, I have been spending a lot of time on the phone with outstanding lawyers who have been left in desperate situations. Many of these attorneys, from junior associates to senior partners, come from top law firms and have excellent academic credentials. The tone of the conversation is one of desperation and frustration. Perhaps the most frustrated are the senior and partner-level attorneys who have a wealth of experience to bring to the table, but have not had any success getting a firm to talk to them. These candidates are disgusted because their willingness to be flexible and take a hit in title or class year in order to make a move is rejected.
• Partners, Be Bold!
  ''Fortune Favors the Bold!'' Quoted more often than followed, Virgil's immortal phrase rings truer now than ever as a source of inspiration — and as a challenge. In Vi