Up, Out, Wait or Quit: Associates Weigh in on Staying and Leaving their Firms

Tantalizing, treacherous, business development fears and the Prize. This is how associates describe making partner. It’s a high-stakes game where the outcome is binary — make partner or face an undefined future.

A few firms are publicly downplaying junior associates’ importance. The reality is law firms need strong senior associates — and these come from junior associates. At the same time — the time to partner is getting longer. This creates an intriguing paradox where retaining talented associates is both critical and harder than ever.

Our latest survey of over 560 associates reveals insights into how many associates are on their way out the door and how many plan to stick it out:

• 12.8% have one foot out the door

They are actively looking and taking the steps they need to either change firms or change paths.

• 45.6% are leaning towards a departure

They haven’t fully made up their mind — but partnership is not shining bright.

• 9.6% are leaning towards partnership

Their hesitation lies in concerns about work-life balance and not fully understanding what they would be getting into.

• 32% are heading for partnership

They may not know the secret sauce to get there — but they are convinced they have it. They plan to be partners — it’s the only path they want to take.

Ease the Deepest Concern for Those Wanting Partnership

Nurture those associates you want to keep — the associates who want to make partner are deeply concerned about how they will deal with the business development responsibilities. Training them in the early stages makes them feel more engaged — alleviates their biggest concern — and boosts business development skills and culture throughout the firm.

Boost Retention — And Turn Future Alumni into Clients

Develop a placement program for associates who don’t want to stay. Help them find plum jobs with clients and other firms of a different size who can be referral sources. Carving out future alumni career paths is a proven business development tool — adopted long ago by Kirkland & Ellis. And almost all those thinking about a departure want to go in-house.

Knowing who’s leaving gives you an edge in planning, recruiting, and business development. It also helps retention. Associates appreciate the extra understanding and investment — they turn into associates you want to keep — and ones who end up not just staying — but thriving.