Reasons to Consider a Lateral Move

Despite reporting that they’re happy with their respective law firms, many junior and midlevel associates move employers for positive career progression. Every attorney has their own reasons for making a career switch, but some of the most common are:

• Shifting Practice Focus
  • Are you a litigator but you’d like more or less exposure to white collar work, commercial litigation, securities litigation, or perhaps international arbitration?
  • Are you getting pigeonholed into a specialty too early on? You’re in a general corporate pool but you’d like to specialize in M&A or funds work? Or you’re a securitization lawyer who’d prefer a general corporate practice?
  • Are you a capital markets lawyer who works almost entirely with foreign clients but you would like to get more experience with U.S. domestic/registered issuers?
  • Is the partner you work with retiring or switching firms and you’ll be pushed into taking on a different focus?
  • Keep in mind that it’s very difficult to switch practice areas entirely, but you may be able to change your main focus or switch from a specific practice to a more general one or visa versa. This may require taking a step back in class year. But if a firm asks you to do so, it’s generally only in your best interest, as you are then reviewed against people with a similar body of work in that practice.
• Increased Responsibility
  • Is your firm’s culture too hierarchical?
  • Do you feel like you’re floating by under the radar and you just want a do-over, a clean slate? You’d be surprised how many associates at top firms fit into this category.
• Client Contact
  • Every firm has a different outlook on associate involvement in client development. Certain top tier firms with primarily institutional clients do a less than stellar job at training associates in the art of business development and client development. These firms may offer great opportunities for junior associates, but as you progress in your career, you may be a better fit in a firm with a more entrepreneurial culture. Think firms with mid-market clients here.
• Different Industry Focus
  • Would you prefer to work less with financial institutions and more with other companies?
  • Would you prefer a better mix of issuer/bank or lender/borrower work?
  • Would you prefer a group that works with more emerging companies and tech-focused clients?
  • Would you prefer to be working with smaller clients?
  • Would you like more exposure to clients in the entertainment or sports industries?
  • Would you like more exposure to international clients?
  • Would you like to know that you could picture yourself moving in-house with at least some of the clients you work with?
• Cultural Preference
  • Is the overall culture of your firm or group a poor fit for you?
  • Does your group or firm lack diversity or a proactive approach to encouraging minority hiring and retention?
  • Is there even just one partner in the group who doesn’t like you, killing any chance you may have for eventual promotion? Again, this is a common and wise reason for a “clean slate.”
• Better Partnership Prospects
  • Has your group promoted any associates to partner in recent years?
  • Has your group recently promoted too many associates to partner, such that the junior partnership ranks are fully saturated already?
  • For litigators, has your group promoted associates to partner or do they hire directly from the government (USAO, DOJ) to fill their partner ranks?
  • Do you have a mentor who’s willing to go to bat for you when it comes to the firm’s partnership decisions? Is this mentor still going to be around when you’re up for partner? Is your mentor well situated in the firm (i.e., on the executive committee, etc.)?
  • Once you’re passed up for partnership, it may be too late to find the right home. Unless you have a portable book of business, most firms will likely see you as too senior for their needs.
• Partnership Alternatives 
  • Not everyone wants to make partner. You may prefer to move into a role where you are not on partner track and there is no assumption of up-or-out. You could theoretically stay indefinitely.
• Access to In-House Opportunities
  • Some associates ask, “Well why would I move firms now if I ultimately just want to go in-house?” Ask yourself:
    • Are you getting the right substantive work to prepare you for your ideal in-house or government job?
    • Could you move to a more prestigious firm and better your chances for the right in-house or government opportunity?
    • Can I see myself staying at my current firm for a few more years until the right non-firm position comes along? Keep in mind that finding the right in-house fit is not always easy. The government has frequent hiring freezes. You may not want to be at a firm forever, but you should consider moving to a place where you could at least see yourself happy (and not being asked to leave) in the medium-term until that dream job comes along.
• Geographic Moves
  • Do you prefer to move to a new market for more exposure to certain substantive work, clients or industries? For example, only certain markets have strong regulatory, capital markets, or executive compensation groups. Only certain markets have a significant number of teach clients.
  • Does your current firm not have an office in the city you’re moving to?
  • Is your current firm refusing to transfer you? Sometimes it’s just too politically sensitive and partners’ hands are tied.
• Higher Compensation
  • You may be able to move from a firm that pays below market to a firm that pays market salaries. And a small group of firms is known to pay above-market bonuses. Longer term, better partnership prospects may offer higher future compensation.
• Looking for Something Smaller
  • Would you prefer a home where:
    • The hours may be more sustainable?
    • You are happier working in a smaller team and feeling more ownership of projects?
    • There is less up-or-out pressure?
    • You can take on more responsibility and run cases at a more junior level?
    • You are generally working on less document-intensive matters?