Leverage For Lawyers

Posted by Elizabeth Zelinka

As a former Big Law corporate lawyer, I can confirm that a significant amount of associate energy inside of Big Law is spent discussing “exit strategies.”  From almost day one, there is an acknowledgement among young lawyers that only a small percentage of the incoming lawyers will stay beyond even a few years, and then a smaller percentage still will stay to become a partner.  Of course, the longer one stays, the harder it is to imagine leaving—the combination of high pay and job security can be increasingly compelling over time. 

That brings me back to exit strategies.  Nearly every Big Law lawyer knows that an exit strategy is critical, and yet for most, that’s about as far as they get.  With the recent dramatic shift that is occurring in Big Law, it now seems imperative to create one.  In essence, it is wiser to be ready to jump than to be pushed without a plan in place. 

But it perhaps seems harder than ever to craft an exit strategy.  Some of the more obvious options (go in-house, work for the government, teach law school) are truly out of reach for the foreseeable future.  While this might sound like fairly terrible news, the truth is that every accomplished Big Law lawyer can still create a solid exit strategy.  It is a process of stepping back and thinking creatively about what value you bring to the world outside of legal practice.  The possible answers to that question are nearly limitless. 

The real trick to it all is timing—it is much more powerful to create an exit strategy before you need it.  As Louis Pasteur said, “chance favors the prepared mind.”

Elizabeth Zelinka is a Consultant and Career Strategist with Zelinka & Prince Search Partners.  She can be reached through her website at www.zpsearchpartners.com.

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