Should I Stay or Should I Go: What Should Partners Do When Their Firm Merges with Another Firm?

   

Harrison Barnes

Jumping forward to the year 2014-15, law firms mergers are still going on, and have actually increased since 2008-2009, with 82 U.S. law firm mergers happening in 2014 (and only 53 mergers happening in 2009), according to Altman Weil. Some of the biggest mergers to take place in 2014-15 (according to Altman Weil) include Locke Lord with Edwards Wildman, Squire Sanders with Patton Boggs, and Buchanan Ingersoll & Rooney with Fowler White Boggs.

No matter how many mergers are going on in a given year, the merging of two firms is a complicated process that causes a whole host of issues for the attorneys at the merged firm. These changes include those to firm policies and procedures, issues with conflicts, changes in the culture and values of the firm and changes to the management, among others. New opportunities may arise as well, including new cross selling opportunities that come with the addition of new firm clients. For many partners, the merging of their firm with another firm requires them to think long and hard about whether to stay at the merged firm or look for a new home. No matter how long you have been with your firm, deciding whether to ride out the merger or jump ship can be very difficult. Below are some questions and considerations to think about before making such a decision.


What will the firm look like after the changes are complete, and will I like what I see?

In general, if a firm is in financial trouble and entertaining a merger with another firm, it will be forced to trim its ranks of associates (and maybe even partners) prior to the merger. Such action will inevitably change the culture of the affected practice groups, and it may have a direct effect on the way the firm provides legal services to its clients. Additionally, once the word gets out that the firm is planning to merge, there will be partners and associates who jump ship immediately, not wanting to ''deal'' with the changes that come with a merger. This attrition can affect the morale of the firm and can lead to an overall feeling at the firm that things are not going well, despite what the numbers say.

Once the firm has merged, it is likely to look quite different. More attrition is likely to occur. Moreover, if you are at a small to midsized firm that is merging with a larger, multi-office firm, the original firm may be completely swallowed up by the larger firm, leaving you with an essentially unrecognizable, new firm. Depending on how you look at it, this can be a good thing or a bad thing. Either way, it is up to you to determine if you want to stay and ride out the changes or leave for something else new and different.

Will the culture and values that attracted me to my law firm in the first place still exist post-merger?

Almost any lawyer will tell you that in choosing his or her firm, he or she considered the culture of the office and the values of the attorneys. These cultural norms and values are not likely to be written, but they come through in the actions of the attorneys and the goals of the firm. Does the firm value one's personal life or believe that it ''owns'' the attorneys in the office? Whatever the culture of the firm you joined, it is likely to change after a merger. After all, no two firms have the exact same culture, so the combination is bound to cause changes in the values of the firm. If the changes are minor, the environment may remain similar to that of the firm before the merger and staying with the merged firm may be the answer.

However, if the merger results in new management with new ideas that run contrary to your values, then staying at the merged firm may present all sorts of problems. For example, if your firm placed an emphasis on creating a friendly and welcoming working atmosphere for its attorneys, and then merges with a firm that focuses only on the billable hour and places no value on the atmosphere of the firm, then staying may not be the best option for you.

Will I have a place at the firm once the changes are made or merger is complete?

Many partners, especially at the senior level, are involved in the management of the firm. Some may head up individual departments, while others serve on the management and/or executive committees. For many partners, this part of their practice is as fulfilling, if not more so, than the actual practice of law. When two firms merge, it is inevitable that there will be some changes to the management. After all, the combination of the individual departments necessitates that the merged firm pick one of the two department heads to run the newly combined department. Similarly, there can only be so many people on the management committee of the new firm.

Unfortunately, if a partner is with a smaller firm that is being eaten by a larger one, the larger firm is likely to take the majority of the management committee and department head positions, leaving those from the smaller firm with less involvement. And this change may take place without the input and/or approval of all of the partners, thereby leaving many partners unhappy and further motivated to leave the firm.

Will I run into issues with conflicts?

Conflicts are a major issue with every law firm merger. What happens if the firm with which your current firm plans to merge represents a major client whose interests conflict with a major client of the other firm? Usually, one firm will have to withdraw from representation of their client so that the merged firm can continue to represent the other client. What happens if that client is yours, thereby resulting in a loss of business to you? This may serve as a motivator to leave the firm and find a new firm where you can avoid the issue of conflicts.

Will there be new cross selling opportunities at the newly merged firm?

The flipside to the issue of conflicting client interests is the potential cross selling opportunities that come with a newly merged firm. Merging the firms and clients may provide partners with new opportunities to cross sell their legal expertise to the clients of the other firm, thereby resulting in an increase in business for the partner and firm. If this is a real possibility for you, it may be a strong reason to remain with the merged firm.

Am I too old to make a lateral move?

While you may feel too old to make a lateral move, the short answer to the above question is that you are never too old to make a lateral move. While some partners may feel as if firms discriminate on the basis of age, it is much more likely that the firm will turn down a potential lateral based on the size (or lack thereof) of the partner's book of business. Think of it this way: firms exist to make money, so no matter how old you are and how close you are to retirement, if bringing a partner into the firm is going to be profitable for the firm, even for a short period of time, then a firm is likely to do so. Moreover, some firms may jump at the chance to hire older partners in hopes that they will pass their large books of business down to other firm partners when they retire.

Do I have enough portable business to make a lateral move?

This is a difficult question to answer. In this economy, it goes without saying that the more business you have, the more attractive you will be to a new firm. After all, many firms are struggling, and the addition of a partner who brings in $4 million of business a year will only help the firm's bottom line. However, not all is lost if you don't have a multi-million dollar book of business. While more common in a flourishing economy, there are still firms with busy practice areas and a need for partners (with minimal books of business) to take the load off of the current attorneys in the group.

Moreover, there are firms that will take on partners with smaller books of business, especially if that partner has serious potential for growing this book and/or is willing to be compensated at a lower rate than he or she would otherwise be if they had a larger book of business. Believe it or not, there are many partners out there who ultimately decide to make a lateral move for reasons other than salary. Many of these individuals would gladly trade a percentage of their compensation for other benefits from a new firm (better culture, quality of life, more management opportunities, good quality people with which to work, etc.).

Make no mistake, portable business is very important—likely the most important factor for firms considering whether to hire a lateral partner, but there are opportunities out there for partners with smaller books of business. Consequently, do not assume that you are stuck at your current firm exclusively because you have less than $1 million worth of portable business.

Am I ready and willing to start over at a new firm?

This is a question that comes from within. Do you have the energy and desire to start over at a new place of employment? Are you ready to embrace a new way of doing things, new faces, new policies and procedures, and new opportunities? If the answer is yes, then moving from the newly merged firm may be a good choice for you. However, if there are things about the new firm that you do not care for but at the same time you cannot imagine leaving what is left of your original firm to start from scratch, then riding out the merger may be the best option. Moving firms, no matter how successful and experience you are, can be a difficult transition, which should not be done without careful consideration.


About Harrison Barnes

No legal recruiter in the United States has placed more attorneys at top law firms across every practice area than Harrison Barnes. His unmatched expertise, industry connections, and proven placement strategies have made him the most influential legal career advisor for attorneys seeking success in Big Law, elite boutiques, mid-sized firms, small firms, firms in the largest and smallest markets, and in over 350 separate practice areas.

A Reach Unlike Any Other Legal Recruiter

Most legal recruiters focus only on placing attorneys in large markets or specific practice areas, but Harrison places attorneys at all levels, in all practice areas, and in all locations-from the most prestigious firms in New York, Los Angeles, and Washington, D.C., to small and mid-sized firms in rural markets. Every week, he successfully places attorneys not only in high-demand practice areas like corporate and litigation but also in niche and less commonly recruited areas such as:

• Immigration Law
• Workers Compensation
• Insurance
• Family Law
• Trust and Estate
• Municipal law
• And many more...

This breadth of placements is unheard of in the legal recruiting industry and is a testament to his extraordinary ability to connect attorneys with the right firms, regardless of market size or practice area.

Proven Success at All Levels

With over 25 years of experience, Harrison has successfully placed attorneys at over 1,000 law firms, including:

• Top Am Law 100 firms such including Sullivan and Cromwell, and almost every AmLaw 100 and AmLaw 200 law firm.
• Elite boutique firms with specialized practices
• Mid-sized firms looking to expand their practice areas
• Growing firms in small and rural markets

He has also placed hundreds of law firm partners and has worked on firm and practice area mergers, helping law firms strategically grow their teams.

Unmatched Commitment to Attorney Success - The Story of BCG Attorney Search

Harrison Barnes is not just the most effective legal recruiter in the country, he is also the founder of BCG Attorney Search, a recruiting powerhouse that has helped thousands of attorneys transform their careers. His vision for BCG goes beyond just job placement; it is built on a mission to provide attorneys with opportunities they would never have access to otherwise. Unlike traditional recruiting firms, BCG Attorney Search operates as a career partner, not just a placement service. The firm's unparalleled resources, including a team of over 150 employees, enable it to offer customized job searches, direct outreach to firms, and market intelligence that no other legal recruiting service provides. Attorneys working with Harrison and BCG gain access to hidden opportunities, real-time insights on firm hiring trends, and guidance from a team that truly understands the legal market. You can read more about how BCG Attorney Search revolutionizes legal recruiting here: The Story of BCG Attorney Search and What We Do for You.

The Most Trusted Career Advisor for Attorneys

Harrison's legal career insights are the most widely followed in the profession.

• His articles on BCG Search alone are read by over 150,000 attorneys per month, making his guidance the most sought-after in the legal field. Read his latest insights here.
• He has conducted hundreds of hours of career development webinars, available here: Harrison Barnes Webinar Replays.
• His placement success is unmatched-see examples here: Harrison Barnes' Attorney Placements.
• He has created numerous comprehensive career development courses, including BigLaw Breakthrough, designed to help attorneys land positions at elite law firms.

Submit Your Resume to Work with Harrison Barnes

If you are serious about advancing your legal career and want access to the most sought-after law firm opportunities, Harrison Barnes is the most powerful recruiter to have on your side.

Submit your resume today to start working with him: Submit Resume Here

With an unmatched track record of success, a vast team of over 150 dedicated employees, and a reach into every market and practice area, Harrison Barnes is the recruiter who makes career transformations happen and has the talent and resources behind him to make this happen.

A Relentless Commitment to Attorney Success

Unlike most recruiters who work with only a narrow subset of attorneys, Harrison Barnes works with lawyers at all stages of their careers, from junior associates to senior partners, in every practice area imaginable. His placements are not limited to only those with "elite" credentials-he has helped thousands of attorneys, including those who thought it was impossible to move firms, find their next great opportunity.

Harrison's work is backed by a team of over 150 professionals who work around the clock to uncover hidden job opportunities at law firms across the country. His team:

• Finds and creates job openings that aren't publicly listed, giving attorneys access to exclusive opportunities.
• Works closely with candidates to ensure their resumes and applications stand out.
• Provides ongoing guidance and career coaching to help attorneys navigate interviews, negotiations, and transitions successfully.

This level of dedicated support is unmatched in the legal recruiting industry.

A Legal Recruiter Who Changes Lives

Harrison believes that every attorney-no matter their background, law school, or previous experience-has the potential to find success in the right law firm environment. Many attorneys come to him feeling stuck in their careers, underpaid, or unsure of their next steps. Through his unique ability to identify the right opportunities, he helps attorneys transform their careers in ways they never thought possible.

He has worked with:

• Attorneys making below-market salaries who went on to double or triple their earnings at new firms.
• Senior attorneys who believed they were "too experienced" to make a move and found better roles with firms eager for their expertise.
• Attorneys in small or remote markets who assumed they had no options-only to be placed at strong firms they never knew existed.
• Partners looking for a better platform or more autonomy who successfully transitioned to firms where they could grow their practice.

For attorneys who think their options are limited, Harrison Barnes has proven time and time again that opportunities exist-often in places they never expected.

Submit Your Resume Today - Start Your Career Transformation

If you want to explore new career opportunities, Harrison Barnes and BCG Attorney Search are your best resources. Whether you are looking for a BigLaw position, a boutique firm, or a move to a better work environment, Harrison's expertise will help you take control of your future.

Submit Your Resume Here to get started with Harrison Barnes today.

Harrison's reach, experience, and proven results make him the best legal recruiter in the industry. Don't settle for an average recruiter-work with the one who has changed the careers of thousands of attorneys and can do the same for you.

About BCG Attorney Search

BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.