Excerpt:
“The law firm paradigm is shifting,” says Andy Branham, manager of the Memphis office of Counsel on Call, a legal services placement firm. “The business model is not holding up that well.”
At the same time, Branham says many of today’s law school graduates are coming out less motivated about becoming partners in firms. They want more flexibility and have different motivations, he says, such as working for themselves, for smaller firms, in corporate jobs or jobs with more flexibility.
Without younger partners to help support and grow practices — combined with senior partners working longer — the resulting effect is a toxic brew with the potential for poisoning the profession.
“It’s very much in flux,” Branham says of the partnership structure industry-wide. “Everything is very dynamic right now.”
At the same time, Branham says many of today’s law school graduates are coming out less motivated about becoming partners in firms. They want more flexibility and have different motivations, he says, such as working for themselves, for smaller firms, in corporate jobs or jobs with more flexibility.
Without younger partners to help support and grow practices — combined with senior partners working longer — the resulting effect is a toxic brew with the potential for poisoning the profession.
“It’s very much in flux,” Branham says of the partnership structure industry-wide. “Everything is very dynamic right now.”
Click to read the rest of "Law firm partners practicing longer can create problems for associates" (Memphis Business Journal).
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