A study conducted by legal recruiter Origin Legal has concluded that, on average, it takes about 10 years for a lawyer to make partner at their City firm. Of the 111 lawyers at Top 20 London firms surveyed by Origin, 80 per cent of them had been invited to the partnership with between nine and 13 years’ post-qualification experience (PQE). Of those lawyers who made partner at a City outfit this year, only 13 per cent had fewer than nine years’ PQE. Reaching the top is as difficult as ever, with only 1 per cent of lawyers from Magic Circle firms making partner this year. However, percentages climbed slightly higher for firms London-wide (1.2 per cent), West End firms (1.6 per cent) and Midlands firms (1.8 per cent).
Preferred specialisms
Origin Legal’s study also uncovered which specialisms help fast-track lawyers to the upper echelons of their firm. Unsurprisingly, corporate and finance were identified as the areas with the ‘best opportunity for progression’ to the partnership, together accounting for 66 per cent of this years’ promotions in the Magic Circle and 33 per cent London-wide.
Limited opportunities 12 years’ PQE
Research conducted by industry publication found that at least 42 per cent of junior lawyers still hold out hope for joining their firm’s partnership one day, despite many feeling that the advancement model is outdated. Origin Legal’s research might be of concern to those who still aspire to make partner, given the miniscule numbers who are accepted each year and the slim capacity for advancement after the typical promotion ‘threshold’ has passed. Origin Legal owner Rupert Haxell explained: ‘The decade of experience needed to achieve a partnership role is not a big surprise, but the lack of opportunities after twelve years, especially within the Magic Circle, highlights how those in this situation need to be seriously considering their next move and quickly.’
Sources: Legal Cheek; The Lawyer
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