Securities Docket - Ask a Recruiter: How to Prepare for a Law Firm Job Search

Weekly Career and Market Insight for Securities Docket Readers from Macrae recruiter Rachel Nonaka, Managing Director in Washington, D.C.

Your first task is to emotionally commit yourself to exploring other options. This is the hardest – and often the longest – part of the process. On average, the candidates I’ve worked with first began thinking about a move more than a year prior to our first meeting – and it’s common for a few months (or longer) to pass before they’re ready to take concrete steps toward entering the job market. In your journey from “I’d like a change” to “Hire me!”, you’ll benefit from candid discussions with people you trust, such as your partner and best friend to a colleague who has recently made a similar move.

Talk to recruiters, too. Get referrals from friends, reply to the email a headhunter sent you six months ago and/or do some Googling to find partner-level legal recruiters in your market and practice area. Speak with several to find one you connect with and can check in with routinely as you gear up to hit “go.” 

When you’re ready, I suggest taking a close look at any ethical issues that could arise in a move. If you’re at a law firm, consult an ethics attorney about the specific terms of your partnership agreement and how to maintain your ethical obligations to your clients through a transition. In the government? Talk to your agency’s ethics office about any recusal obligations you have during the job process and any practicing or appearing “time out” you may be subject to as a result of moving from a senior government role into private practice.

The next step is to prep your submission documents. Update your resume, web bio and LinkedIn. All should be technically perfect, accurate and up to date. (Tough love moment: If your LinkedIn profile pic is more than 10 years old, it sadly does not meet these standards.)

You’ll also need to confidentially share a raft of information with your recruiter that details your key clients, current billable rate, hours worked over the last three years, originations for this time period, and estimates on your portable book of business. Don’t be scared by that last one! The estimates are just this; law firms understand that you can’t guarantee that your clients will follow you and that you are ethically prohibited from soliciting them in advance of giving notice of resignation. Your recruiter will use this information to craft cover letters (ahem, emails) to your target firms.

Do you also need to draft and submit a business plan? Potentially. At Macrae, we strongly advise all government candidates seeking partner positions to do so, and we recommend that attorneys moving from in-house positions to firms also share a plan.

Now, about those target firms….how do you identify them?

Your recruiter should have a good sense of where your experience and expertise is likely to be in demand at any point in time, and where you’ll be a good cultural and personality fit as well. But there’s a lot more to consider.

If you’re in the government, would you prefer to join a firm with an existing practice in your space or build and lead a new practice? If you’re currently at a law firm, focus on the firms that solve the problems you have with your current platform. Client conflicts? Seek out firms that are currently representing your largest clients in different areas, as this could be an opportunity to cross-sell your practices. Stay away from firms that represent your clients’ main competitors. Have your clients begun balking at a recent rate increase implemented by your current firm? A move to a firm with different rate structures and billables might alleviate that pain-point. If you feel your compensation isn’t cutting it any longer, look at firms that reported higher earnings in 2023 and/or higher Profits Per Partner (PPP).

Stay tuned, because next week we’ll get to the exciting part: your official market launch and beyond!

Have a question for me to tackle? Send a note to Rachel.Nonaka@macrae.com. No names or other identifying information will appear. If you’d like to have a confidential discussion about your career trajectory and current market opportunities, click here.