Leverage For Lawyers

Posted by Elizabeth Zelinka

WilmerHale’s announcement yesterday that certain senior-level lawyers should begin to seek other positions is nothing new in the world of Big Law.  The announcement is no more than a formal confirmation that the firm plans to execute on its “up or out” policy—and nearly every AmLaw 100 firm has such a policy, whether formal or not. 

So on the one hand, this is not big news.  On the other hand, the idea that all of these senior-level lawyers are going to find great opportunities by the Fall (and thanks for the big “heads up”) is pure fiction.  The job market for Big Law lawyers is—to put it plainly—horrible. 

This entire situation, recession aside, highlights the need (which has always been there) of Big Law lawyers to work on exit planning from early on in their careers.  The whole system of Big Law is based on the assumption that 90% of incoming lawyers will not stay beyond a certain point.  Given that, it is only wise for Big Law lawyers to have an exit strategy in development at least as early as the mid-level stage of their careers. 

As a lawyer who made the exit from Big Law, I can tell you that a strategy is key to making the whole thing work.  For most of us, “life after a Big Law” is a reality we must eventually confront.  My advice—do not confront it blindly.

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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