#76: Entering or Re-entering BigLaw as a Lateral Partner: What Experienced Lawyers Can Overlook
Release Date: 06/11/2025
#105: Cringe-Free BigLaw Goals for Associates in the New Year
Big Law Life
As the year closes, I'm focusing in this episode on BigLaw goals for associates without resorting to platitudes, firm retreat slogans, or vague resolutions that quietly collapse by February. After years as an equity partner in BigLaw, I’ve seen that the associates who actually move forward are not the ones making dramatic promises to work less, do everything better, or reinvent themselves overnight. Instead, the associates who most often make progress are the ones who focus on taking smaller, actionable steps in specific, visible ways that compound inside a system that is in many ways beyond...
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#104: BigLaw Partnership Timing: What Actually Controls When You Make Partner
Big Law Life
If you are a senior associate staring at year seven, eight, or nine and trying to decode whether you are “behind,” I want you to hear this clearly: your timeline is not controlled by your work ethic or your reviews. In this episode, I break down why partnership timing is driven by structural economics inside your firm, not individual merit. We walk through the forces that actually move or stop the process, including practice group capacity, leverage ratios, PEP pressure, capital constraints, succession bottlenecks, client portability, and internal power dynamics. I also give...
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#103: The Mid-Career BigLaw Partner Crossroad - Should You Stay or Make a Lateral Move?
Big Law Life
Mid-career partners can begin quietly wondering whether they should stay where they are or explore a move. This isn’t driven by crisis or failure. It’s driven by subtle shifts, such as declining energy for a platform that once fit well, strategy drift inside the firm, client relationships that feel different, or internal politics that have grown wearisome. Yet most partners stall making a decision because they don’t want to make the wrong call and the ambiguity keeps them stuck. In today’s episode, I walk through the five stages I see that partners typically move through when...
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#102: The Most Dangerous Time in BigLaw - What Mid-Senior Associates Should Be Thinking About
Big Law Life
After years as a partner inside global law firms, I’ve seen one stage of a BigLaw career quietly determine everything that comes after it. It isn’t the first year, when everyone expects some struggle and a lot of learning. And it isn’t partnership, when you've reached that tier and are now working to build your book of business and establish your role in that space. The most dangerous stage is the mid to senior associate years. Years four through seven are where many lawyers stall without realizing it. They’re billing hard, getting strong reviews, and hearing they’re “doing...
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#101: The Seven Billable Hour Pitfalls That Hold BigLaw Associates Back
Big Law Life
After years as a partner in global firms, I’ve watched countless associates struggle with the billable hour for reasons that have nothing to do with their talent or work ethic. What often derails them are avoidable habits: reconstructing time at the end of the month, underbilling to appear efficient, overlawyering simple assignments, taking on too much work at once, relying on one partner for all their hours, failing to bill fully legitimate work, and assuming non-billable hours will meaningfully count toward their annual target. In this episode, I walk through the seven most common pitfalls...
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#100: What 100 Episodes Reveal About BigLaw: Career Realities, Recurring Challenges, and Industry Shifts
Big Law Life
After over two decades in BigLaw, I’ve seen just how rare it is to find candid, practical conversations about what life in a large firm is really like. That’s why reaching the 100-episode milestone of Big Law Life feels so significant. In this special episode, I step out from behind my usual role behind the microphone and reflect on the real stories, hidden challenges, and universal themes that have surfaced over the past hundred conversations. I share why I started this podcast, what continues to surprise me, which episodes unexpectedly struck a chord with lawyers across firms, and...
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#99: When Partnership Doesn’t Mean Control: How BigLaw’s Structure Can Limit Your Autonomy and What You Can Do About It
Big Law Life
In this episode, I tackle one of the most persistent myths inside BigLaw: that partnership guarantees freedom. After years of billing, grinding through deal cycles, and fighting for promotion, most lawyers expect partnership to mean finally having more control over clients, staffing, and schedules. But as I explain, the modern BigLaw firm operates much more like a global corporation than the old-school partnership many lawyers imagined as they were working their way towards becoming a partner in their firm. Centralized management, committees, client teams, centralized staffing, and internal...
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#98: Inside Your BigLaw Firm’s Different Measures of Profitability - And How They Affect You
Big Law Life
In this episode, I take a closer look at a topic that many BigLaw lawyers misunderstand: profitability. Most partners focus on the firm’s overall “profits per equity partner” (PEP), but that number tells only part of the story. There are other profitability numbers - internal, often unseen analyses that many attorneys don't focus on but in fact shape how practices and partners are viewed, rewarded, and resourced. I explain how these shadow numbers differ from the publicly announced firm metrics, how factors like leverage, write-offs, and politics distort perceptions of profitability, and...
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#97: The Biggest Mistakes BigLaw Attorneys Make in Business Development
Big Law Life
In this episode, I tackle one of the most common frustrations I hear from partners and senior associates: why business development efforts so often fail to produce consistent, meaningful client work. From my own years as a BigLaw partner and now as a coach, I’ve seen too many capable lawyers equate effort with results, attending conferences, posting on LinkedIn, and taking endless coffee meetings only to find their pipeline still flat a year later. In this episode, I break down the five most common reasons business development efforts stall: lack of focus, inconsistent systems,...
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#96: When Your BigLaw Firm Stops Valuing You: Signs Partners Often Miss
Big Law Life
In this episode, I tackle a critical question for many partners - how to tell when your firm no longer values you and what steps you should take next. I’ve seen too many strong, capable partners blindsided by subtle shifts that signal declining influence, reduced credit, and a fading role in firm strategy. Drawing from my own experience as a BigLaw partner mentoring and managing other partners, as well as serving on executive and other firm leadership committees, I walk through six clear warning signs, from being left out of key decisions to watching your client relationships being...
info_outlineMaking the decision to pivot to or re-entering Big Law after time in a smaller practice—whether solo or at a boutique firm—is not a decision to make lightly. In this episode, I lay out what every experienced attorney should evaluate before making the leap to a large firm. From navigating equity status, benefits and health insurance costs, to understanding the real expectations around origination credit, profitability metrics, and collaboration—you’ll hear what questions to ask and areas to do your due diligence on now to avoid misalignment later.
I also cover what internal resources to ask about and people to meet with before your first day, and how to set yourself up for success in your first year, particularly if business development support is limited. If you’re an experienced practitioner considering a move to Big Law, this episode will help you think through what you need to know before you sign.
At a Glance:
00:00 Why this episode matters for returning or first-time Big Law partners
01:20 Common motivations for moving to Big Law from solo or small-firm practice
02:07 Equity vs. non-equity partner status—what to clarify and why it varies
03:07 Key comp variables: point charts, bonus eligibility, and guaranteed years
04:16 What solo and small-firm lawyers may overlook about health and retirement costs
05:08 Capital contributions, K-1s vs. W-2s, and hidden costs you should ask about
06:22 What firms are really hiring you to do—it may not be to help with someone else’s book
07:17 Why low-rate clients may become an issue, even if you bring a full pipeline
07:39 Metrics that matter in Big Law—what you’ll be evaluated on annually
08:03 The illusion of collaboration—why many firms still operate in silos
08:45 What to do if you’re expected to originate work immediately
09:05 Why you need to meet practice management, pricing, and BD leaders before signing
09:49 Understanding what the platform really offers—and where it may fall short
10:39 You will be held accountable for profitability—ask who’s helping you deliver
11:05 Don’t assume resources will be available when you arrive—get clarity in advance
11:26 Why you need a marketing and BD plan in place before day one
12:14 Smart strategies for integrating internally and externally
12:35 What your BD budget should include—and how to advocate for it
12:59 Why assuming flexibility or financial support will be there without a solid plan
13:27 The value of engaging internal BDs to champion your strategy
13:51 Final reminders: the questions to ask, the pitfalls to avoid, and how to make the right move
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Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting?
Here are ways to reach out to her:
laura@lauraterrell.com
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Show notes: https://www.lauraterrell.com/podcast