A decade of experience but no more secures Capital’s top legal partnership roles
Ten years is the magic number for lawyers looking to be made partner in top law firms in London and the Midlands, but opportunities close once this milestone is passed
Lawyers in the capital must have on average ten years’ experience to be made a partner within their respective firms, but those with much more tend to be overlooked for promotion. According to the latest research from legal recruitment specialists, Origin Legal, 111 partners were announced within London’s combined top 20 firms, with 80% of those boasting between nine and thirteen years’ experience.
Origin profiled the qualification dates and practice area across London firms, including the Magic Circle, West End firms as well as the Midlands. The research highlights that qualifiers in 2006 were the biggest group to be made partner in 2016, but also showed that the gap for promotion is slim as those who are going to make partner, are likely to have done so by the time they hit twelve years’ experience within the industry.
The sector with the best opportunity for progression is Corporate Finance/Banking which accounted for 60% of partners in the Magic Circle and 39% in the rest of London. Unsurprisingly, just 1% of solicitors were made partner within the Magic Circle in 2016, this rose to 1.2% throughout the rest of London, 1.6% in the West End and opportunities are almost double with 1.79% of solicitors achieving promotion across the Midlands.
Rupert Haxell, Owner at Origin Legal, believes the research throws up some ‘hugely interesting’ statistics around career progression for legal professionals, saying: “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.”
For further information about the data or Origin Legal, then please contact Kate Field
Email [email protected] or call 01206 765544.