All around and across the United States of America, you’ll find law firms of different sizes, classes and experience levels. You’ll also find that when a lawyer or attorney joins the firm, it doesn’t mean that they are tied into that particular firm for the rest of their professional career. In fact, generally speaking, many of these lawyers and attorneys will end up leaving their current firm at one point or another. Take Kirkland & Ellis for example, though they are a widely recognized firm who has been headed by Jonathan Bunge in the past, they too will lose an attorney from time to time due to competition from another firm. But why is there so much competition between firms, especially those in the Chicago area? To gain a little insight, let’s take a look below.
Why would a lawyer leave one firm for another?
There are a few different reasons why a lawyer may decide to leave one firm for another, whether the new firm is close by or requires a move to a different city or state. The main reason is, simply put, money. When a firm tries to lure a lawyer onto their team, generally they do so with the promise of a higher yearly income and sometimes even more, the promise of a higher title within the company. Let’s face it, money talks. Other reasons include family life and personal goals. Sometimes, one firm is better suited over the other due to location. If a lawyer has a family whom is looking to move to another part of the country, it makes sense to then find another firm to work for within that area of interest.
What causes competition between law firms?
Because of the high volume of professional lawyers and attorneys out in the job market today, law firms will fight to have the best of the best, particularly those with a wide range of experience and years on their resume. So, if one firm views a lawyer in another firm as a growing star, they may feel compelled to try to ‘poach’ them and have that person join their team instead. This way the new firm will be credited with that particular lawyer’s wins as well, thus creating a better reputation for the firm as a whole.
Should you leave one firm for another?
This really all depends on your personal life and your professional life. If you feel that you are moving up within your current firm and are acquiring all the cases you want, generally there is no need to switch firms. This is because the longer you stay at one firm, the more likely you are to win larger cases to add to your resume due to your senior states. Then again, if another firm is eyeing you and offering you a better benefit package coupled with a larger salary, it may make complete sense to switch companies.
Because like the cases you’ll work on, each reason for leaving a firm and starting over at a new one is different, you’ll find that there are lots of different angles to look at before making your end decision. The best way to start off however, is to understand why there is competition between Chicago law firms, as well as many others throughout the United States.