Navigating Your Partner-Level Transition

Making a lateral move as a partner is one of the most significant decisions in your legal career. Unlike associate moves, partner transitions involve complex considerations around portable business, compensation structures, strategic fit, and long-term growth potential. This FAQ addresses the most common questions we hear from partners exploring lateral opportunities. For questions about the lateral associate recruiting process, check out our associate FAQ.

Understanding the Partner Recruiting Process

How does partner recruiting differ from associate recruiting?

Partner recruiting is fundamentally different in scope, complexity, and timeline. While associate moves focus primarily on experience and credentials, partner moves center on strategic fit, business portability, practice synergies, and revenue potential. The process involves more stakeholders — you'll typically meet with management committee members, practice group leaders, and sometimes the entire partnership. Due diligence is significantly more extensive, including detailed financial analysis, client conflict checks, and business plan evaluation.

What are the main steps in the partner lateral process?

The process typically begins with a confidential conversation with us to discuss your practice, motivations, and target opportunities. Next comes strategic positioning — developing your Lateral Partner Business Plan and gathering the financial data you'll need. Then we will make targeted submissions to firms that align with your practice and goals. Initial meetings follow, usually with the office managing partner or practice group leader. If there's mutual interest, you'll complete a Lateral Partner Questionnaire (LPQ) and proceed to deeper due diligence and additional meetings with firm leadership. The firm will run conflicts checks and verify your business representations. Finally, you'll receive and negotiate an offer, clear final conflicts, and plan your transition.

Every partner process is slightly different, depending on the firm, practice area, and market. Throughout, we serve as your strategist, advisor, and negotiator.

How long does the process typically take?

Partner moves can happen remarkably quickly or take several months, depending on various factors. The accelerated timeline — as short as 4–6 weeks — is increasingly common in today's market, especially compared to pre-pandemic timelines of 4–6 months. However, several factors can extend the process: complex conflicts checks, group moves involving multiple partners, need for partnership votes, or situations requiring careful strategic planning.

If you're coming from the government or in-house and building a practice from scratch rather than transitioning a portable book of business, expect a longer evaluation period. The key is being prepared with your materials before you start so you can move quickly when the right opportunity presents itself.

The Lateral Partner Business Plan

What is a Lateral Partner Business Plan and why do I need one?

A Lateral Partner Business Plan is a strategic document that tells the story of your practice — where you've been, where you are, and where you're going. Unlike the LPQ, which is primarily a data collection tool that the new firm will provide, the Lateral Partner Business Plan is your opportunity to make your case for why a firm should hire you and how you'll succeed on their platform. It demonstrates your business acumen, strategic thinking, and growth potential. The Lateral Partner Business Plan should articulate your practice areas and specializations, your track record of business development, your key client relationships and why they're likely to follow you, your competitive advantages in the market, and most importantly, your vision for growth at the new firm. Think of it as marrying your past performance with your future potential, showing specifically how the new platform will enable you to expand and enhance your practice.

When should I prepare my Lateral Partner Business Plan?

Prepare your business plan before you begin interviewing, even if you're just exploring the market. Having it ready serves multiple purposes: it forces you to think strategically about your practice and what you really want from a move, it enables you to move quickly when opportunities arise, and it helps us position you effectively to firms.

You should never submit a generic business plan to multiple firms. The Lateral Partner Business Plan must be tailored to each specific opportunity, demonstrating how that particular firm's platform, resources, client base, and geographic reach will enable your growth. You'll refine and customize your business plan based on what you learn during initial conversations with each firm. Start with a strong foundation that outlines your practice comprehensively, then adapt it to highlight the specific synergies with each target firm. We will help you draft your Lateral Partner Business Plan — including providing any templates and editing suggestions as you go through the process.

What should be included in my Lateral Partner Business Plan?

An effective Lateral Partner Business Plan typically includes several key sections. Start with a practice overview that describes your areas of focus with specific breakdowns (for example, "40% M&A, 30% private equity, 20% corporate governance, 10% securities"). Include your practice development history — your origination track record, key clients, billing rates, and business development activities. Highlight your accomplishments, whether that's high-profile matters, industry recognition, or thought leadership.

The critical section is your growth strategy: specifically, how will the new firm's platform enable you to retain existing clients, expand work with current clients, attract new clients, and enter new markets or practice areas? Include concrete examples: if the firm has a Mexico City office and you have clients with Latin American operations, explain how you'll leverage that platform to capture work you're currently losing. Be specific about cross-selling opportunities, geographic expansion, and practice development initiatives. Address any potential concerns upfront — if there's something that needs explaining, control the narrative rather than leaving it to speculation.

How detailed should my Lateral Partner Business Plan be?

The level of detail depends on your circumstances and where you are in the process. For partners with substantial portable business (generally $2M+), the Lateral Partner Business Plan can be relatively concise, because the numbers speak for themselves and firms primarily want to understand retention likelihood and growth potential. For partners with developing books, government attorneys, or in-house counsel transitioning to private practice, a more detailed plan is essential to demonstrate your vision and potential.

Ultimately, the Lateral Partner Business Plan should be detailed enough to answer the firm's key questions: What business will follow you? Why will it follow you? How will you grow it? Focus on being substantive rather than lengthy, and remember that you'll have opportunities to elaborate in person during meetings.

What's the difference between a Lateral Partner Business Plan and a Lateral Partner Questionnaire (LPQ)?

The Lateral Partner Business Plan and LPQ serve different purposes and are complementary, not redundant. The business plan is a strategic narrative document that tells your story, makes your case, and articulates your vision. It's forward-looking and persuasive. The LPQ is a due diligence tool that collects specific data points for the firm to verify and analyze. It's backward-looking and factual.

Think of the Lateral Partner Business Plan as your pitch and the LPQ as your proof. The business plan explains why you're a great fit and how you'll succeed; the LPQ provides the granular financial and biographical data the firm needs to complete its due diligence and structure an offer. You'll typically provide a Lateral Partner Business Plan early in the process (often with your initial submission or after first meetings), while the LPQ comes later once serious interest has been established.

The Lateral Partner Questionnaire (LPQ)

What is the LPQ and when will I need to complete it?

The Lateral Partner Questionnaire is a detailed form that firms use to conduct due diligence on lateral partner candidates. While there's no universal standard LPQ (despite industry efforts to create one), most firms request similar information: biographical data including your complete employment history and bar admissions, economic data covering 3–5 years of originations, collections, billing rates, realization rates, billable hours, and compensation, detailed client information (including which clients are likely to follow you and which matters you originated versus worked on), and disclosure questions about malpractice claims, disciplinary issues, conflicts of interest, and other potential red flags.

Firms typically request the LPQ midway through the interview process — after initial meetings have established mutual interest but before making an offer. Some firms bifurcate the LPQ, requesting basic information early and more sensitive details later when an offer is imminent.

How should I approach completing the LPQ?

Complete the LPQ thoroughly, accurately, and promptly. Firms view your LPQ responsiveness as a signal of your interest level and professionalism. Be honest and straightforward — never exaggerate your numbers or client portability. Firms will verify your representations, and overstating your business is the fastest way to torpedo your credibility and your candidacy. That said, don't undersell yourself either. If the new firm's platform will genuinely enable you to grow your practice, articulate that potential. If there are gaps or irregularities in your billing history (perhaps due to a major matter concluding or personal circumstances), explain them clearly. Add supplementary pages if needed to clarify how your current firm calculates data differently from the target firm.

Remember: you already have all this information about your practice. Completing the LPQ is simply organizing and presenting it. Partners who delay or resist completing LPQs often lose opportunities to more responsive candidates.

What if I can't get the financial data from my firm without raising suspicions?

This is a common challenge, and there are strategies to navigate it. The best approach is to gather this information routinely throughout your career, not just when you're considering a move. Request annual reports on your billings and collections broken down by client and matter, framing it as tracking your own productivity and business development efforts. Most firms provide this data regularly without question. Keep these reports in a safe place at home (never at your office or on firm systems).

If you haven't been collecting this data and need it now, you may be able to request it as part of year-end review preparations or business planning exercises. Some firms' systems allow partners to access this data themselves through client development or financial reporting portals. However, never provide copies of your firm's proprietary data, printouts, or reports directly to a prospective employer — this creates legal and ethical issues. Transfer only the relevant numbers to the LPQ that you complete yourself.

Can I use the same LPQ for multiple firms?

While different firms have different LPQ formats, much of the core information remains the same. The industry has developed a Universal Lateral Partner Questionnaire (U-LPQ) through NALSC (National Association of Legal Search Consultants) to streamline this process, and an increasing number of firms accept it. If you're interviewing with multiple firms, completing the U-LPQ once can save significant time. However, some firms still use their own proprietary forms with specific questions or formats. We can help you determine which firms accept the U-LPQ and which require their own form. Even if you need to complete multiple LPQs, having gathered the data once makes subsequent forms much easier.

What are firms really looking for in the LPQ?

Firms are assessing several key factors through the LPQ. First, can you cover your own compensation and overhead? Firms typically expect a partner to generate 2.5–3x their compensation to cover overhead and contribute to firm profitability. Second, which clients will actually follow you? Firms distinguish between "portable business" (clients with high likelihood of following you) and "potential business" (clients you work with but may not control). Third, are there any red flags? The LPQ surfaces potential issues like malpractice claims, disciplinary matters, financial problems, or conflicts that could derail your candidacy. Fourth, do the numbers support your representations? Firms will verify that your business plan and interview discussions align with your actual financial performance. Finally, do you have growth potential? Firms aren't just buying your current book — they're investing in your future trajectory.

Portable Book of Business

How important is a portable book of business?

The importance of portable business varies significantly across firms, but it's a central consideration for most. Within the AmLaw 200, only a handful of firms place minimal emphasis on portable business — typically large institutional firms with lockstep compensation or firms with very stable, long-standing client relationships. At the other extreme, a small number of firms focus almost exclusively on portable business as their primary growth strategy. But the vast majority fall somewhere in between, viewing portable business as one important factor among many in a holistic assessment of strategic fit.

What exactly is "portable business" and how is it different from my total book?

Portable business is the revenue you can reasonably expect to bring with you to a new firm, as distinguished from your total billings at your current firm. The distinction is crucial because not all of your current work will follow you. Portable business typically includes clients where you're the relationship partner and primary contact, matters you originated and control, work where clients hire you personally rather than your firm, and relationships strong enough that clients will follow you despite any disruption. Non-portable business includes firm institutional clients who use your services but have relationships with multiple partners, work you handle as a service partner but didn't originate, clients with strong ties to your current firm's brand or platform, and matters where conflicts or other factors will likely prevent the client from moving.

A common mistake is overstating portability in your Lateral Partner Business Plan. Firms expect some attrition — typically partners bring 60–80% of their projected portable business, with higher retention rates for true client originators and lower rates for service partners.

How do I determine which of my clients will follow me?

Evaluating client portability requires honest self-assessment. Ask yourself: Am I the originating partner with the primary client relationship, or am I a service partner on someone else's client? Would the client follow me if I left, or are they loyal to my firm's brand, platform, or other partners? Have I discussed contingencies or next steps with key clients (carefully and appropriately)? Does the client need capabilities that only my current firm can provide, or could they get equivalent service at my new firm? Do client conflicts at the new firm prevent the work from following?

Be realistic: sophisticated firms will probe these questions extensively, and overstating portability will damage your credibility. When in doubt, be conservative in your estimates and clearly distinguish between "highly portable" and "potentially portable" clients.

What if I don't have a substantial portable book yet?

Not every successful lateral partner move requires a multi-million dollar book. Several scenarios can work even without substantial portable business: younger partners (especially those 2–5 years into partnership) with demonstrated origination trajectory and growth potential can be attractive if they're building books strategically. Partners in high-demand practice areas where firms are trying to establish or expand practices may be evaluated more on expertise than current portables. Government attorneys or in-house counsel with valuable relationships, expertise, and business development potential can successfully transition if they can articulate a credible path to building a practice.

The key in these situations is demonstrating potential: show concrete business development plans, identify specific client targets and how you'll pursue them, leverage your professional network and industry relationships, and articulate realistic revenue projections with clear strategies to achieve them.

What's a realistic expectation for how much business I'll retain after moving?

Industry data and experience suggest that partners typically retain 60–80% of their projected portable business after a lateral move, with significant variation based on individual circumstances. Strong originators with deep personal client relationships often retain 80–90% or more. Service partners or those with less established relationships might see retention rates of 50–60%.

Build some cushion into your projections — if you tell a firm you're bringing $3M and you actually bring $1.8M, you've failed to meet expectations even if that's a respectable retention rate. Better to project conservatively and exceed expectations than to overpromise and underdeliver.

Evaluating Opportunities

How do I know if a firm is the right fit?

Evaluating firm fit requires looking beyond surface-level factors like prestige and compensation to assess strategic alignment:

  • Platform and resources: Does the firm have the geographic reach, practice capabilities, and infrastructure to support your clients?
  • Compensation structure: Is it lockstep, formula-based, or pure eat-what-you-kill? How does the firm's model align with your practice?
  • Partnership culture: How do partners collaborate versus compete? What's the approach to origination credit and matter staffing?
  • Client conflicts: Will conflicts prevent you from representing key clients or pursuing target industries?
  • Financial health: What's their debt load, capital contribution history, and revenue trajectory?
  • Practice group strength: Are you joining a robust practice with strong leadership, or being hired to build something from scratch?
  • Long-term prospects: What's the partner turnover rate? How does the firm support partner development and succession?

How should I evaluate a firm's compensation structure?

Understanding compensation structures is essential because they fundamentally affect your earning potential and practice development incentives:

  • Lockstep systems provide compensation based primarily on seniority or class year. These tend to promote collegiality and collaboration but may not reward significant business development as directly.
  • Formula-based systems use specific metrics (originations, billings, collections, hours) weighted according to a mathematical formula. These are more transparent but can create internal competition.
  • Eat-what-you-kill systems compensate partners primarily based on their business generation. These maximize individual incentive but can discourage collaboration.
  • Modified systems may blend elements — perhaps a base determined by class year with performance adjustments.

When evaluating a firm's system, ask: How does your book size and practice type fit their model? Also consider the spread between highest and lowest paid partners — a 15:1 spread suggests very different dynamics than a 3:1 spread.

Confidentiality and Timing

How do I maintain confidentiality during a partner search?

Confidentiality is even more critical for partners than associates because your departure could trigger client concerns, associate departures, and firm counter-moves. Schedule meetings during vacations, holidays, or out-of-office time when possible. Be extremely selective about who you tell — resist the urge to confide in partners you trust, as information spreads quickly. Use personal devices and email for all search-related communications, never firm systems. Be cautious with LinkedIn updates, CLE topics, or other public activities that might signal you're exploring options.

When should I tell my current firm I'm leaving?

Do not tell your current firm until you have a written offer, have accepted it, and have cleared conflicts and partnership approval at the new firm. Even if you have excellent relationships with your partners, informing them prematurely can trigger several negative outcomes: they may marginalize you immediately, limiting your access to clients and matters; they may preemptively contact clients to undermine your relationships; or they may make retention overtures that complicate your decision.

What's the best time of year to make a lateral move?

Unlike associate recruiting, partner recruiting happens year-round as firms identify strategic needs. Late summer through fall (September–November) tends to be active as firms plan for the coming year. Late winter through spring (February–May) sees increased activity as partners evaluate their year-end compensation. The "best" time is when the right opportunity aligns with your readiness — don't wait for perfect timing or you may miss the right move.

Compensation and Offers

How is lateral partner compensation typically structured?

Lateral partner compensation packages vary significantly but most include several common components:

  • Base compensation or draw is your regular periodic compensation, which may be guaranteed for an initial period (typically 1–2 years) or subject to adjustment based on performance.
  • Origination or performance bonuses are additional compensation based on your business generation, often calculated annually.
  • Capital contribution is your investment in the partnership, required for equity partners, which you'll typically pay over time and get back upon departure.

Many firms also offer signing bonuses or forgivable loans to help with the transition, often tied to remaining with the firm for a specified period. The key is understanding the total economics: What's guaranteed versus at-risk? What are the total costs versus the total compensation?

Can I negotiate my offer, and what's negotiable?

Yes, you can and should negotiate when appropriate. At lockstep or highly structured firms, base compensation may not be flexible, but signing bonuses, guarantee periods, capital contribution payment schedules, and moving packages may be. At formula-based or eat-what-you-kill firms, there's often more flexibility in base compensation, origination percentage, and bonus calculation methods. Other potentially negotiable terms include title (equity versus non-equity), associate allocations, office space, business development budget, and non-compete provisions.

Special Situations

What if I want to move with a group of partners?

Group moves can be tremendously successful but require exceptional coordination and discretion. Confidentiality becomes more challenging with each additional person involved. Business plan alignment is critical — everyone's financials, client portability, and expectations must be thoroughly vetted. Timing coordination is essential since deals can fall apart if some partners get cold feet or receive counteroffers. If there is a group of partners you would like to bring with you on your search, let us know and we can discuss immediate next steps.

I'm coming from the government or in-house — can I make a lateral move to a law firm partnership?

Absolutely, though the process differs from firm-to-firm transitions. Law firms increasingly value partners with government or in-house experience for regulatory expertise, agency relationships, name recognition, and fresh perspectives. The challenge is that you likely don't have traditional "portable business" to point to. Instead, focus your Lateral Partner Business Plan on relationship capital, subject matter expertise, business development strategy, and how your experience creates unique value. Many successful laterals from government and in-house start with somewhat longer guarantee periods (2–3 years) to provide runway for practice development.

Should I accept a counter-offer from my current firm?

Generally, accepting a counter-offer is not advisable. Studies show that 70–80% of partners who accept counter-offers end up leaving within 18 months anyway. The fundamental issues that prompted you to explore opportunities typically don't go away. Moreover, accepting a counter-offer can damage your market reputation — firms will likely be hesitant to invest time in you again if you use offers as leverage.

Final Thoughts

Making a lateral move as a partner is complex, high-stakes, and potentially career-defining. The partners who navigate lateral moves most successfully are clear about their motivations and goals, realistic about their portable business and market value, thorough in evaluating opportunities, and strategic in their approach rather than reactive.

Whether you're actively exploring opportunities, contemplating whether it's time for a change, or simply want to understand the market, invest the time to do it right. Each move should be a strategic step forward in your professional journey, not just a reaction to immediate frustrations. Choose wisely, prepare thoroughly, and make moves that genuinely advance your practice and career.

If you have questions not addressed here or would like to discuss your specific situation confidentially, we're here to help.