Making the decision to leave your law firm is never an easy one, but so far in 2021, 450 partners in New York have lateraled to new firms within the Am Law 200—an increase from 296 for the same timeframe in 2020. These partners made the strategic decision to take this important step in advancing their careers after many months of forethought, research and discussion. A lateral move is never a quick decision or one to make on a whim. To successfully transition from one firm to another, you need to lay the groundwork early.

The Before

Moving to a new firm begins with a strong, well-considered business plan. The plan should comprehensively describe your practice, noteworthy experience, the relevant market, and specific client and other potential business relationships. A well-crafted business plan becomes a lens through which your potential partners view you. It demonstrates your professional and business savvy, inspires confidence, illustrates potential synergies for future cross-marketing opportunities, and helps establish a foundation for critical incoming compensation discussions. A good recruiter will guide you through the process, beginning with a thoughtful exploration of your practice, business relationships, and professional and personal objectives. Your recruiter should also furnish you tried-and-true templates of plans that have worked and provide a framework for your own unique narrative.