Attorneys who get a counteroffer after resigning face a big career choice. A new guide from BCG Attorney Search offers help with that decision.
The Attorney Counteroffer Playbook helps lawyers decide whether to stay or join another firm.
The guide covers pay, partnership, clients, firm culture, and career growth.
Learn more from this guide: Best Markets for Private Equity Lawyers Outside New York Pay, Deal Flow, and Partnership Upside
Counteroffers Can Change Plans
A counteroffer can change an attorney’s plans fast.
A firm may offer more money after a lawyer gives notice. It may also offer a new title or a faster path to partnership.
However, more money may not solve the real reason for leaving.
Attorneys should first ask why they began their job search.
For example, the issue may be poor firm culture. It may also be weak support, poor work, or limited growth.
If these problems remain, a pay raise may only offer a short-term fix.
Look Beyond Salary
The guide tells lawyers to review the full offer.
Salary matters. However, it is not the only factor.
Attorneys should review bonuses and future pay. They should also look at client work and partnership chances.
Furthermore, lawyers should compare the offer with the new firm’s offer.
The details also matter. A firm may promise a faster path to partnership. Attorneys should ask when that path will begin.
They should also ask what they must do to qualify.
Getting key promises in writing can provide more clarity.
Partnership Can Affect the Decision
A counteroffer may be more important for senior associates near partnership.
Staying can help an attorney keep current clients. It can also avoid starting the partnership process again.
However, lawyers should confirm that the firm supports their plans.
They should ask about the partnership timeline. They should also ask about key goals and leadership support.
Future pay should also be clear.
These answers can help attorneys make a better choice.
When Leaving May Be Better
A higher salary cannot fix every career problem.
For example, an attorney may want to leave because the practice area has little growth.
Leadership problems may also play a role.
The firm’s future plans may also differ from the lawyer’s goals.
Therefore, attorneys should think about the future.
A new firm may offer better work or stronger clients. It may also provide more room to grow.
Compare Both Firms
Lawyers should compare their current firm with the new firm.
Key areas include:
- Salary and bonuses
- Partnership chances
- Client opportunities
- Practice-area growth
- Mentorship
- Leadership support
- Firm stability
- Career growth
Attorneys should also get key promises in writing.
This can reduce confusion later.
A Guide for Legal Professionals
The Attorney Counteroffer Playbook gives lawyers a simple way to review a counteroffer.
The guide can help attorneys avoid a rushed choice.
Ultimately, lawyers should look beyond a higher salary. They should ask which firm offers the better career path.
A counteroffer can be useful. However, attorneys should ask one key question.
Does the offer fix the reason they wanted to leave?
If the answer is no, moving forward may still be the better choice.
Learn more from this guide: Best Markets for Private Equity Lawyers Outside New York Pay, Deal Flow, and Partnership Upside
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