December 1, 2006
Law Firms are Adding Alternatives to Partnership
If you don’t keep up with the other side of the pond, you may be unaware of the growing movement to offer career alternatives other than partnership—or, as an additional step, lengthening the time required to become a partner.
The November 20 issues of The Lawyer.com reported that London-based Berwin Leighton Paisner (BLP) will now offer 'Associate Director' positions as an alternative to partnership. BLP has 600 attorneys and 170 partners. According to the The Lawyer.com, the new associate directors will be tied to the firm's profitability but without a direct share in the equity. BLP emphasizes that associate directors, while continuing their role as lawyers, assume a management role in one or more of the following areas: operational, client relationship, people development, know-how and training, or financial management.
I’m not crazy about the title ‘Associate Director;’ it feels a little too British for me. But I have to say that once we have taken the step to identify the law firm as a legal service business, the partnership model begins to look outdated and cumbersome. It limits growth, impedes survivability, and imposes a high price for success on those who must admit new members to the top.
While the U.S. is not ready to separate law firm ownership from those in the profession, law firms would do well to find a way to separate career success from the rights and obligations of ownership.
Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris® products and services for increasing law firm performance and partner income, go to www.Juris.com.
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Filed under HR by Tom Collins