Law firm leaders say they haven’t necessarily shifted their criteria for associates to make partner, but the recession may have an indirect effect on associates’ ability to make that big step.
A jump in the number of new partners specializing in tax and public finance proves that when it comes to partnership, the supporting players of Missouri’s largest law firms can still get their due — eventually.
New partners at Missouri firms are finding themselves more alone. Missouri’s largest law firms promoted 16 percent fewer people than they did for 2010. And that’s after a 26 percent drop from the year before.
Lawyers at large law firms usually get their first glimpses of detailed and comprehensive firm financial data when becoming partner, after seven to nine years as an associate. Understanding the information can help new partners understand their new obligations as stakeholders in the firm, lawyers say.