Why did you put yourself on the market in the first place? Were you were passed over for a promotion or you just don’t fit in? Does the money change things? Will the issues of the past continue to be a problem?
During this pandemic . . .
Don’t just put your toe in the water. Law school doesn’t prepare you for how to manage your career. They don’t teach you how to strategically position yourself in an ever-changing marketplace.
“Do your research. Dig into the company’s financial health to assess job security. Look at where its funding comes from, and make sure the projects you’ll be working on seem stable. Don’t lose sight of the long-term. Remember your career goals. Will this help you get there? Is the opportunity likely to come up again in the months to come?”
— Rachel Feintzeig, Work Life Balance writer for the Wall Street Journal, Do You Dare Switch Jobs in the Coronavirus Economy.
Should I stay or should I go?
Layoffs were commonplace in the legal industry during the Great Recession. For now, large firms are opting to cut pay, reduce hours and furlough lawyers. Law firms specializing in family, housing and criminal law have been hardest hit due to local government offices being closed. Many firms are asking for more lateral associates and staff.
Counteroffers are up.
Interviewing and getting offers is not the way to negotiate a better compensation package. It’s a career killer. What you don’t want to do is create an environment of mistrust. You don’t want to put your career in jeopardy.
Your reputation at the firm will never be the same. There will always be a question of your loyalty. They simply will not trust you anymore.
Accepting a counteroffer is likely to damage your relationship with your current firm. Think about it, you just told your firm you are leaving and are now only staying because they threw some money at you.
“In my over twenty years as a legal recruiter, accepting the counteroffer results in being pushed out the door 85 to 90% of the time. The candidate is either let go for someone less expensive, or the promises made did not pan out. About 3- 6 months after the counteroffer is accepted, I get a call.” – Shari Davidson, President of On Balance Search Consultants.
Shari Davidson – “On Balance Search focuses on Law Firm – M&A, Lateral Partner & Associates and Succession Planning. It’s all about monetizing your book of business and planning so you and your firm can be prepared for the future.”
Ready to start you search? Visit OnBalanceSearch.com to schedule a consultation.
About On Balance Search Consultants
On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.
Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.
Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.
Please note that the content of this blog does not constitute legal advice and is only intended for the educational purpose of the reader. Please consult your legal counsel for specifics regarding your specific circumstances and the laws in your states pertaining to social media and any legal restrictions regarding the law.