It’s a common belief that as a lawyer’s skillset advances, so too will their career. While mastery in legal expertise plays a significant part in hiring and promotion decisions, another element may carry more weight over time: business development. According to Above the Law, the quantity of work a lawyer generates throughout their tenure could heavily influence various career-altering decisions.
For associate-level attorneys at a law firm, business development often doesn’t hold the same importance. With their primary role being to bill hours, partners generally do not anticipate these associates to bring in work. Yet should an associate succeed in generating business, it doesn’t go unnoticed. Many firms reward such efforts with origination bonuses, recognizing that client acquisition isn’t typically part of the job description for an associate attorney.
With increased experience, the partners’ expectations rise. They start anticipating associates to bring in work, especially if they wish for promotion to partner level. While lack of business development does not necessarily hinder consideration for counsel roles, managers would certainly expect business generation from those associates aspiring to make it to partnership.
Business development not only signals the presence of additional skillsets that are crucial to firm management but also demonstrates the lawyer’s indispensability. Attorneys showing significant business growth may be promoted to partners to thwart the possibility of them seeking opportunities elsewhere. After all, legal acumen holds little value if the firm lacks work to execute; therefore business development plays an essential role in partnership considerations at many law firms.
As attorneys ascend through their careers, the ability to develop business only grows in importance. Job postings for partners typically require candidates to bring a certain amount of work along with them. Firm management is generally reluctant to divide revenue with those who don’t contribute to its origination, making business development a vital component of lateral partnership recruiting. Absence of business makes it difficult for more senior lawyers to transition later in their careers, especially when their salary expectations aren’t consistent with the potential income they could generate.
Business development also plays a significant role in firm politics, sometimes being the sole reason behind appointments to executive committee positions or firm managing partner roles. Moreover, the revenue generators in a law firm usually prevail in internal disputes regarding the firm’s future course because their abilities to generate business make them more valuable.
Unfortunately, the skill of business development is not something attorneys learn in law school, and for many, this learning doesn’t happen on the job either. Yet, the impact it can have on a lawyer’s career path potentially outweighs their legal skills. Therefore, attorneys should seize all opportunities for learning business development skills. It transforms their career trajectory by enabling them to have portable business later in their career when hiring and promotion decisions hinge on this fundamental aspect.