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When a lawyer “makes partner,” they transition from being an employee of the firm who is paid a salary to become a part-owner of the firm and share in the firm’s profits and liabilities. This is what many conclude when they think of making partner, but what does it really mean to be a partner…
Do you really want to make partner? Making partner is the ultimate career milestone that many employees at law firms and investment banks strive for, but it’s not as lavish as it seems. To show you both sides of the golden coin, here is the true cost of making partner. What ‘making partner’ meant 20…
When lawyers make partner they transition from an employee of the firm to a self-employed individual who owns a share in the firm. This means that the way they get paid is very different. To address the question “how do law partners get paid?” here is a quick breakdown of how the compensation system works….
How much does a partner at a big law firm make? It’s a question that many of us have wondered but it’s, by no means, an easy one to answer. Law firms are private entities, allowing them to keep salaries and compensation figures under wraps which they chalk down to privacy concerns and not wanting…
Lawyer burnout affects hundreds of attorneys and paralegals worldwide. Why? This is because of stressful schedules, long work hours, and high-pressure in the law industry. There are also the factors of character traits such as perfectionism and pessimism that are prevalent among many lawyers. This article explores how much of an issue anxiety and burnout…
When you think about networking, I bet you think about going OUT to an event, where you shake hands and meet strangers OR trying to do something on LinkedIN. Over the years. many partners have told me that the number one reason why professionals like you find your careers stalling is that you neglect your…
Naturally, as you get sales in the door, make connections and foster business relationships, your clients only want to speak to you. When they have a request or when things go wrong, they call you to sort them out. The problem with this? Client management eats into your time. As your time is better spent…
To make partner in your law firm, accountancy or consulting firm, you will have to win clients and grow your own book of business. You will also have to let go of clients. I know this sounds crazy but as you start winning bigger and better clients, at some point you will need to hand…
Interruptions kill our productivity; they take away our focus and wreak havoc on our motivation. You may think that interruptions are an inevitable part of work-life that you can’t do anything about, especially if it’s an interruption from a client, but that’s just not true. Here is how to manage and minimise constant interruptions from…
Whether you’re a junior accountant about to do your first busy season or an established accountant employed in practice with years of experience, the audit silly season or the self-assessment personal tax preparation madness can knock the best of employees off their feet. With multiple clients, a never-ending workload, and long hours at the office,…
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