The Foster Group Featured in Law.com on Positioning Yourself for a Lateral Move
/Texas Takeaways: Preparation is Key to Positioning Yourself for a Lateral Move
Michelle Foster and her colleagues at The Foster Group, a boutique legal recruiting agency, are helping legal professionals increase their salaries and positioning within law firms.
It’s an annual rite of spring to see if the grass really is greener on the other side. We may even get the urge to “talk to some folks in the industry,” or “send out a couple of resumes,” but too often, if we don’t get a nibble, we’re likely to resign ourselves to simply staying put, because it’s easier than changing jobs.
This time is different though, because staying put means leaving money on the table and missing out on the prospect for advancement, says Michelle Foster, founding and managing partner of legal recruiting firm The Foster Group.
Texas Lawyer spoke recently with Foster and her colleagues about how legal professionals are increasing their salaries and positioning within law firms by taking advantage of the changes that are occurring in the legal market.
What’s going on in the market that makes this a good time to make a move?
Drew Foster, Managing Director: There are two main drivers as I see it. The first being a substantial increase in the demand for legal services, partially fueled by the complex legal issues/questions brought on by the pandemic and partially driven by the frothy deal market. The second being the way in which law firms are hiring attorneys. This used to be a highly standardized process of a set amount of in-person meetings, for a specific office and group. Over the past 2+ years we’ve worked under a totally different set of circumstances. The process has moved to a virtual one and perhaps more importantly, law firms are thinking in new ways about how to staff legal teams and hire talent. If a firm can hire an A+ private equity attorney in Atlanta despite not having an office there, many will look into ways to make it work, whereas historically, it would have been a non-starter. All this translates to heightened levels of opportunities for attorneys to move their careers forward in real and significant ways and many are taking advantage of that prospect. The market has been very robust, and so we are finding that there are more opportunities for attorneys to make a move that will help them advance their careers. Due to client demand, firms are able to move more quickly than in past years, and also provide attorneys with more flexibility in a variety of ways.
How can a legal recruiter help attorneys in their upward mobility?
Elaine Oh, Managing Director: Working with a seasoned legal recruiter enables an attorney to gain additional insights into specific firms, practice groups, and the overall legal hiring market. Oftentimes, a seasoned recruiter will have a direct channel to the hiring partners and managing partners, enabling them to gain additional insights that they can share with their candidates, on a firm’s strategic goals, priorities and internal structure, among other things.
Drew Foster, Managing Director: Legal recruiters can be helpful because they can provide knowledge that attorneys need to make informed decisions. They provide entrée to many of the top firms and their decision-makers. They may also provide the advocacy needed to successfully manage and work through a months-long hiring process that tends to have complex nuances. Lastly, they can develop a market strategy that is tailored to each individual which almost always results in strong offers with law firms that provide the best platform and support for an individual’s practice.
What questions should attorneys be asking their legal recruiters when they are looking to make a move?
Elaine Oh, Managing Director: Attorneys should ask their legal recruiter what type of market and opportunities they focus on, the typical candidate they work with, and ensure they are working with a recruiter that is well-informed and in tune with the legal market.
What should attorneys be doing while they are preparing to make their move?
Elaine Oh, Managing Director: Attorneys should consider what their short-term and long-term career goals are. Are they looking to make partner one day, while currently an associate? Are they ultimately looking to go in-house? Giving serious thought to their career goals enables the legal recruiter to guide them accordingly in the market, and identify opportunities that will help them achieve their career goals.
Is there anything else you have observed or would recommend?
Michelle Foster, Founder and Managing Partner: Getting candidates prepared for their meetings and talking them through the questions they should expect are key for recruiters getting attorneys a new, better job, or a promotion at their current one. Before it comes time to do the lateral partner questionnaire (LPQ), recruiters should take the time to carefully review the documents with their candidates and explain the nuances. This will help insure that the lateral partner is complete and capable of putting their best foot forward.