Big Law Life
On Big Law Life, Laura Terrell and her guests discuss the strategies, steps, relationships and communications you need to navigate the world of large global and national law firms, from the perspective of lawyers, business and legal professionals, in-house counsel, and others with experience working in and around this environment. Laura dives into what you want to know about BigLaw but didn’t learn in law school and what wasn’t covered in your law firm orientation. To learn more about how she works with attorneys and to access her blog and resources, go to www.lauraterrell.com
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#70: Navigating a Down Market as a BigLaw Attorney
04/30/2025
#70: Navigating a Down Market as a BigLaw Attorney
In today’s episode, I’m diving into how to stay strategic when the legal market slows or your practice area begins to shrink. These shifts are inevitable in any long-term legal career but how you respond can define your next chapter. I walk through how to assess whether you’re facing a temporary dip or a deeper structural change, and how to use that insight to proactively adapt. Whether you’re exploring a pivot within your firm, aiming to future-proof your practice, or quietly preparing for a move, this episode gives you a clear roadmap to act with confidence rather than panic. I also cover how to show up visibly at your firm, deepen your network, and identify overlooked opportunities that can make you indispensable, even when work is light. At a Glance: 00:00 Introduction and and why downturns are a critical moment to take strategic control of your career 01:20 How market slowdowns expose firm and practice vulnerabilities 03:02 Recognizing whether your practice decline is cyclical or structural—and how to respond 05:08 Pivoting within your firm: cross-training, lateral moves, and internal repositioning 07:22 Rebranding your skill set to meet evolving client and market needs 09:18 Staying valuable through client development, visibility, and strategic connections 11:10 Preparing your network and materials in case of a job search 13:14 Staying engaged and billable when work is light 15:15 Following firm economics and identifying growth opportunities 16:50 Evaluating whether to stay or go—and setting yourself up for the next move 17:56 Final thoughts on planning proactively instead of reacting to firm decisions Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#69: Stuck at Your Law Firm? How to Stay Strategic Until You Can Move
04/23/2025
#69: Stuck at Your Law Firm? How to Stay Strategic Until You Can Move
In today’s episode, I talk about something many lawyers experience but rarely discuss: what to do when you’re ready to leave your law firm, but you haven’t yet found the right opportunity. Maybe the market’s slow. Maybe your book isn’t portable. Or maybe nothing else feels like the right fit yet. Regardless, being stuck in limbo is frustrating—and it can quickly tank your motivation, reputation, and future options if you’re not intentional. I share what to focus on now, even if you’re in survival mode, to preserve your professional standing and prepare for your next move. From managing your mindset to making sure your materials are airtight, I break down how to keep moving forward while you're still inside a firm that no longer feels right. You’ll hear actionable steps you can take to maintain credibility, boost visibility, build momentum, and avoid some costly mistakes. At a Glance: 00:00 Introduction to Big Law Life and today’s episode 01:20 Feeling stuck when lateral options are limited 02:01 Why quiet quitting can backfire—and how to stay visible 02:44 How to maintain professionalism even when motivation dips 03:23 Risks of falling into the complaints trap 04:10 Why it's better to leave on your terms—not the firm’s 04:47 Leveraging downtime to prep your pitch to future firms 05:09 Specific ways to sharpen legal knowledge and market positioning 06:11 How tech innovation can become a strategic edge 06:34 Start tracking feedback, wins, and achievements now 07:29 Prepping for a move by activating your network 08:01 Tips for handling outreach and keeping conversations discreet 09:20 Managing recruiters and setting clear expectations 10:31 Resume, firm bio, and LinkedIn cleanup essentials 11:53 Finding meaning and control when your current work feels flat 12:20 Using pro bono and internal initiatives to add value and visibility 13:00 Thought leadership and LinkedIn as personal branding tools 13:48 How outside interests can help with burnout and breakthroughs 14:41 Staying ready for the next wave—and why mindset matters Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#68: Five Misunderstandings That Hold Back Lawyers in Big Law
04/16/2025
#68: Five Misunderstandings That Hold Back Lawyers in Big Law
In this episode, I share the top five misconceptions I see lawyers make—even the most brilliant ones—about working in Big law firms. These aren’t just abstract ideas. They’re real misunderstandings that I’ve seen derail careers, slow down progress, and create unnecessary frustration for talented attorneys. Whether you're aiming for equity partnership or trying to better understand the business side of firm life, this episode will help you avoid common pitfalls and make smarter decisions. I unpack why revenue doesn’t automatically equal profit, why strong legal skills alone won’t win you clients, and why firm culture matters more than many attorneys realize. I also challenge the assumption that every client is worth keeping and share the overlooked business and interpersonal skills that set successful lawyers apart. At a Glance: 00:00 Introduction to Big Law Life 01:20 The five biggest misconceptions lawyers make about firm life 02:41 Why revenue does not equal profit—and how high billables can still hurt the bottom line 04:31 Real-world examples of high-revenue, low-profit partners losing firm support 04:57 Why legal talent alone won’t win clients—and what actually builds lasting relationships 06:21 Personal branding: Why your firm’s bio isn’t enough 07:44 If you avoid business development, firm life may not be for you 08:28 Firm culture isn’t the same everywhere—key differences that impact your daily work 09:50 What leadership structures say about your firm’s values 11:03 Not every client is a good client—and how to assess whether to let them go 12:02 What non-paying and discount-demanding clients cost you 13:01 When long-term loyalty no longer makes financial sense 14:09 If your client puts your ethics at risk, they’re not worth keeping 14:29 Great legal and business skills aren’t enough—you also need leadership and relationship management 15:38 Why strategic planning, delegation, and feedback matter just as much 16:26 Law firms now train lawyers on client business issues—because clients expect it 16:54 Your internal reputation isn’t just about legal wins—it’s about how people feel working with you Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#67: Even More Questions Associates Are Asking About BigLaw
04/09/2025
#67: Even More Questions Associates Are Asking About BigLaw
In today’s episode, I discuss more of the pressing questions and challenges that associates in BigLaw frequently face, including how much you should be checking in when you're out on vacation; how much face time is enough; what to consider before requesting a transfer to another office; and whether you should stay in your law firm if you're less than thrilled with life in BigLaw after less than a year. At a Glance: 00:00 Introduction: Big Law Associate Advice 01:19 Should you check emails while on vacation? 03:25 Why even a 5-minute daily check-in matters 03:52 How often should you be in the office? 05:18 Matching your office presence to your career goals 06:29 What to consider before requesting an office transfer 07:20 Personal vs. professional reasons for switching offices 08:17 Managing office transfer logistics and stakeholder buy-in 09:55 Who pays for relocation—and what bar requirements matter 11:21 Should you stay in Big Law if you’re unhappy a few months in? 12:19 Distinguishing tough adjustments from toxic environments 13:14 Why staying a year or more improves future options 14:06 What you’re learning—even when it doesn’t feel like it 15:17 Big Law as training ground: why it’s still worth it Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#66: The 2025 Legal Industry Outlook: Key Trends from Gretta Rusanow of Citi’s Law Firm Group Advisory Services
04/02/2025
#66: The 2025 Legal Industry Outlook: Key Trends from Gretta Rusanow of Citi’s Law Firm Group Advisory Services
In today’s episode, I sit down with Gretta Rusanow, Head of Law Firm Group Advisory Services for Citi Global Wealth at Work, to break down the findings of the 2025 Citi Hildebrandt Client Advisory. This annual report is one of the most closely watched analyses in the legal industry, providing insights on market trends, firm growth strategies, and the evolving business model of law firms. We explore some of the biggest challenges and opportunities law firms are facing, including the slow but inevitable adoption of generative AI, shifting leverage models, the expansion of non-equity partner tiers, and how firms are approaching lateral hiring in an increasingly competitive market. If you’re a law firm leader, an aspiring partner, or simply want to stay ahead of where the legal industry is headed, this episode is packed with valuable insights. At a Glance: 00:00 Introduction: The Future of Big Law 01:20 Overview of the Citi Hildebrandt Client Advisory and its influence on law firm strategy 04:03 How law firms are responding to generative AI and why spending remains low 08:20 The challenge of recouping AI investment costs while maintaining profitability 10:46 How AI may reshape associate leverage models and impact billing structures 16:07 The role of lateral partner hiring and why success rates remain modest 20:56 The rise of the non-equity partner tier and its impact on law firm economics 27:21 The risks of an overgrown income partner tier and how firms can manage it effectively 30:51 Growth markets and law firm consolidation trends in 2025 A Few Takeaways: Generative AI Adoption Is Slow, But Inevitable: Despite all the buzz, law firms spent less than 1% of their revenue on generative AI tools in 2023. Firms are still in the assessment phase, but large-scale investment is coming. Those that successfully integrate AI will need to balance efficiency gains with sustainable billing models. Leverage Models Will Shift, But Not Disappear: While AI may reduce the need for first- and second-year associates to perform certain tasks, firms are more likely to reshape their leverage models than abandon them. Many firms expect a shift toward mid-level and senior associates who can refine AI-generated work rather than a dramatic cut in junior hiring. Lateral Hiring Is a Gamble: The success rate of lateral hires remains low, with many firms finding that promised books of business don’t always materialize. Firms that succeed in lateral hiring have rigorous integration strategies, ensuring new partners are fully embedded in firm culture and client relationships. The Non-Equity Partner Tier Is Expanding for Retention: More firms are embracing the income partner model as a way to retain senior associates who might otherwise leave. While this strategy can strengthen talent pipelines, firms must carefully manage this tier to avoid the inefficiencies seen in past decades. Market Consolidation Is Expected to Continue: The cost of running a law firm is rising, from AI investments to partner compensation. In an environment of modest demand growth, firms will increasingly turn to mergers and strategic consolidation to remain competitive, particularly in high-cost legal markets like New York, California, and London. Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Gretta Rusanow: 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: [email protected] LinkedIn: Instagram: Show notes:
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#65: Winning the Credit Origination Battle - Strategies for Big Law Partners
03/26/2025
#65: Winning the Credit Origination Battle - Strategies for Big Law Partners
In this episode, I break down the key issues surrounding origination credit, how firms allocate it, and the strategies you need to advocate for your fair share. Whether you’re an equity partner, a non-equity partner, or a rising attorney thinking about your future, this discussion provides essential insights to help you navigate the often opaque world of credit allocation. Origination credit is one of the most critical factors determining compensation, recognition, and career advancement in Big Law—but many lawyers don’t fully understand how it works until they hit roadblocks. I explore the different models firms use, the impact of origination credit on client relationships, and how to handle situations where credit is unfairly withheld. You’ll also hear about practical approaches for protecting your interests and ensuring that your contributions are recognized. At a Glance: 00:00 Introduction: Why origination credit matters 01:20 The key role of origination credit in compensation and promotion 02:30 How firms allocate credit and why policies are often vague 05:15 Strategies for partners to claim and negotiate origination credit 07:30 How firms use multiple client numbers to distribute credit 09:10 When to escalate disputes over credit allocation 12:00 Should you ask clients to intervene on your behalf? 14:05 The risks of firms failing to update credit allocation policies Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#64:How to Evaluate a Practice Group Before Making a Lateral Move
03/19/2025
#64:How to Evaluate a Practice Group Before Making a Lateral Move
In today’s episode, I explore one of the most critical yet overlooked aspects of making a lateral move as a partner in Big Law: evaluating your future practice group before making the jump. A firm’s overall reputation and financials matter, but your day-to-day success and satisfaction will depend significantly upon how your specific group operates. I break down six essential questions every lateral partner should ask before accepting an offer -- from understanding how the group influences origination credit, to internal competition and management of clients, to evaluating whether the firm’s business development support for the group is effective and well-thought out. Whether you’re considering a move or advising colleagues who are, this episode provides the practical insights you need to make an informed decision and avoid costly surprises. At a Glance: 00:00 Introduction to Big Law Life and why evaluating your practice group is critical before making a lateral move 01:20 The difference between assessing a firm’s overall reputation vs. understanding your day-to-day practice group experience 02:48 Why lateral partner candidates often overlook key questions about their future practice group 04:07 Question 1: Does the practice group complement your skills, or will you be competing for the same work? 06:13 How to assess internal competition and potential conflicts over key clients 07:12 Question 2: Are you joining an established team or expected to build a practice from scratch? 08:37 How firms vary in their willingness to support lateral partners in hiring associates and expanding their teams 10:06 Question 3: How does the practice group pitch and win new clients? 11:37 The warning signs of a dysfunctional business development strategy 13:09 Question 4: How much influence does the practice group leader have over compensation and evaluations? 14:29 Why some groups have more control over partner resources and career progression than others 15:30 Question 5: Does the practice group quietly enforce unwritten rules that contradict firm policies? 16:51 Real world examples of practice groups ignoring firm policies on leave, origination credit, and compensation 17:48 Question 6: How does this firm’s approach compare to competitors and industry best practices? 19:14 Why understanding your practice group’s internal operations is so critical 20:05 Closing thoughts: Doing your due diligence before making a lateral move to ensure long-term success Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#63: How to Identify Good Mentors in BigLaw
03/12/2025
#63: How to Identify Good Mentors in BigLaw
In today’s episode, I dive into one of the most common challenges for lawyers in large law firms—finding the right mentor. It's a common problem as formal mentoring programs may fall short of providing meaningful guidance, it can be hard to find mentors with the time to really connect with you, and figuring out who is best to help you navigate the particular hurdles you're facing in your work life isn't always clear. In this episode discuss how to identify the potential mentors both inside and outside your firm, how to approach them, and how to cultivate a valuable, long-term mentoring relationship. Whether you’re looking for guidance on firm politics, client relationships, or business development, identifying the right kind of mentor is truly important. I share practical strategies for seeking out mentors who can provide specific, actionable advice—no vague career tips or generic feedback. If you’ve ever struggled to find someone who truly supports your professional growth, this episode will give you a roadmap for making those crucial connections. At a Glance: 00:00 Introduction to Big Law Life and how to approach mentoring in Big Law 01:20 Why formal mentoring programs often fall short 02:08 How to identify lawyers who could be strong mentors 03:39 The importance of observing how senior lawyers communicate, give feedback, and handle client relationships 05:18 Learning from lawyers who explain complex concepts clearly and concisely 06:34 Don’t limit yourself. Mentors don’t have to look like you or share your background 07:25 Building an organic relationship instead of asking outright for mentorship 09:07 Making yourself available and showing initiative in seeking mentorship 10:40 Why a single mentor may not meet all your needs & the importance of building a network of mentors 12:15 The value of external mentors and non-lawyer advisors 14:10 How to approach busy lawyers and ask for guidance without overstepping 15:32 Maintaining and nurturing your mentor relationships over time 17:02 How to stay visible to your mentor without becoming a burden 18:24 A strategic approach to checking in with mentors and keeping them engaged 19:08 Acknowledging and appreciating your mentor’s time and contributions 19:39 Why recognizing your mentor’s help strengthens the relationship 20:05 Closing thoughts on the importance of mentorship in Big Law Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#62: Key Signs It’s Time for An Associate to Leave Their Law Firm
03/05/2025
#62: Key Signs It’s Time for An Associate to Leave Their Law Firm
In today’s episode, I tackle one of the biggest questions associates in large law firms often wrestle with -- when is it time to leave your firm? Some of the key signals that indicate it might be time to start looking elsewhere include when you're struggling to meet your billable hours with no sign of that changing, losing a key partner champion that could help make or break your future at the firm, struggling on the path to partnership or promotion, or seeing troubling shifts in firm culture or compensation. I also discuss how to time a departure strategically, including how to navigate bonuses and negotiations when making a move. If you’re debating whether to stay or go, this episode offers a clear framework to help you make an informed decision. At a Glance: 00:00 Introduction to Big Law Life and today’s topic 01:20 The most common reasons associates consider leaving 02:00 Struggling to meet billable hours: when it’s a personal issue vs. a firm-wide problem 04:14 Why prolonged slow periods (9-12 months) can put your career at risk 04:37 Losing a key partner advocate and how it affects your career trajectory 06:04 When your path to partnership stalls and no one can give you a clear answer why 07:44 Undercompensation as a red flag for firm instability 09:05 Cultural shifts that signal it may be time to leave 11:15 How and when to time your exit strategically 12:17 Final thoughts on evaluating your options before making a move Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#61: Why Even Great Lawyers Still Fail to Make Partner
02/26/2025
#61: Why Even Great Lawyers Still Fail to Make Partner
In today’s episode, I break down why even highly skilled, well-regarded lawyers can still fail to make partner—and what you can do to avoid that fate. If you’ve been getting great reviews, meeting your billable targets, and even bringing in business but still aren’t seeing a clear path to partnership, you’re not alone. I’ve served on partnership committees and evaluated countless candidates, and I’ve seen three common reasons why some lawyers don’t make the cut. From understanding the financial and structural realities of your firm, to identifying the right advocates, to assessing whether your firm is truly the right fit, this episode covers what you need to be thinking about now if you want to successfully navigate the partnership process. At a Glance: 00:00 Introduction – Why Big Law Life exists and what law school doesn’t teach you 01:20 The frustrating reality: Why talented, high-performing associates can still fail to make partner 03:03 The first critical factor: Understanding your firm’s financials, structure, and business needs 06:00 Why great lawyering isn’t enough—you need to offer something the firm needs right now 06:43 The second critical factor: You need internal advocates, and one key partner to guide you through the process 09:09 How to find the right person to help you—and why the partner you work with most closely might not be the one 11:11 The third critical factor: When failing to make partner has nothing to do with you and everything to do with your firm 12:37 Why some firms have an unspoken “type” that makes partnership harder for certain lawyers 14:29 Key questions to ask yourself before committing to partnership at your firm 15:15 Final thoughts on strategically crafting your path to partnership Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#60: How Junior Partners Can Compete for Work and Clients
02/19/2025
#60: How Junior Partners Can Compete for Work and Clients
In today’s episode, I discuss how junior partners in large law firms can differentiate themselves within their firms and the broader market. Many newly minted partners find themselves competing against more experienced colleagues for work and visibility. I explore strategies for carving out a niche, leveraging unique skills beyond legal expertise, and actively marketing yourself both internally and externally. From highlighting non-traditional strengths like financial management and team leadership to optimizing your law firm bio and LinkedIn presence, I provide actionable insights to help lawyers build their brand and position themselves for long-term success. At a Glance: 0:00 Introduction – Challenges junior partners face in standing out internally and externally 1:20 Why senior attorneys often get priority for work 2:57 Identifying what made you a partner and leveraging it 5:06 Using AI, cannabis law, and other niches to stand out 7:15 Management and budgeting can set you apart 9:02 Positioning yourself as indispensable within the firm 10:45 Using LinkedIn and branding to gain visibility 12:30 How most lawyers miss opportunities to highlight strengths 14:15 Getting credit for your contributions when the firm doesn’t 16:40 Using LinkedIn and Substack to showcase expertise 18:55 Posting insights to build credibility 21:30 The value of self-promotion and differentiation Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#59: Choose How Many Hours You Bill: Steptoe’s New Associate Compensation Model with Kate Cappaert
02/12/2025
#59: Choose How Many Hours You Bill: Steptoe’s New Associate Compensation Model with Kate Cappaert
In today’s episode, I sit down with Kate Cappaert, a partner in the Intellectual Property group at Steptoe. We discuss a major shift in Steptoe’s associate compensation—one that gives lawyers more control over their careers and work-life balance. Steptoe’s new model allows associates to choose from three different billable hour targets, with corresponding salary levels, providing a level of flexibility rarely seen in Big Law. We explore how this model was developed, the firm’s commitment to maintaining an open dialogue with associates, and what it means for career progression, partnership considerations, and recruiting. Kate, who serves as chair of Steptoe’s Professional Development Committee, shares insights into how the firm designed this initiative to address long-standing concerns from associates while ensuring that firm goals and client service standards remain intact. At a Glance: 0:00 Introduction: The shift in associate compensation that led Steptoe to rethink the billable hour model 1:20 A unique approach: Why Steptoe introduced three billable hour targets and how they work 2:57 The firm’s motivation: What associates wanted and how this model addresses their concerns 5:06 Flexibility with structure: How the tiered approach allows associates to adjust their hours annually 7:15 First-year associates: Why they start with a standard target before choosing a path 9:02 Moving across tiers: How associates can adjust their billable targets over time 10:45 Impact on partnership: Whether choosing a lower tier affects promotion prospects 12:30 Compensation considerations: How salary and bonuses are structured within this model 14:15 Partner perspectives: How firm leadership responded to this shift in associate compensation 16:40 Recruiting implications: How this new model is shaping lateral hiring and on-campus recruiting 18:55 Training integration: How non-billable training hours are factored into the new compensation model 21:30 Looking ahead: How Steptoe will evaluate the success of this approach in 2025 Article describing Steptoe’s associate compensation program: Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Kate Cappaert: 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: [email protected] LinkedIn: Instagram: Show notes:
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#58: Should You Take a Counsel Role In BigLaw? Critical Questions to Ask First
02/05/2025
#58: Should You Take a Counsel Role In BigLaw? Critical Questions to Ask First
In today’s episode, I break down the nuances of the counsel role in Big Law—what it really means, how it differs across firms, and whether it can be a stepping stone to partnership or a career dead-end. I address the biggest challenges lawyers face when considering a counsel position, including unclear compensation structures, lack of business development credit, and the evolving role of non-equity partners. If you're thinking about a counsel position—whether as a promotion or a lateral move—this episode will help you ask the right questions to ensure it aligns with your career goals. At a Glance: 0:00 Introduction: The evolving role of counsel in Big Law and why it varies across firms 1:20 Lack of a clear definition: Why counsel roles differ significantly between firms 2:06 Counsel as contract attorneys: How some firms use the role to retain talent without long-term commitments 3:07 Counsel as a path to partnership: When the role is a stepping stone versus a permanent position 4:23 Key questions to ask: Understanding firm expectations before accepting a counsel offer 5:16 Business development expectations: Whether counsels receive credit or budget for generating clients 7:23 Compensation uncertainty: How salary and bonus structures for counsels differ from associates and partners 9:02 When a counsel role makes sense: Strategic reasons for choosing counsel over partner or associate positions 12:00 The changing landscape: How the rise of non-equity partners is reshaping the counsel role Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#57: How Law Firms Can Build Stronger Partners Through Training - with Latham & Watkins’ Andrew Clark
01/29/2025
#57: How Law Firms Can Build Stronger Partners Through Training - with Latham & Watkins’ Andrew Clark
In today’s episode, I talk with Andrew Clark, a partner with Latham & Watkins and the global chair of the firm's Training and Career Enhancement Committee. Andrew shares how Latham develops its partners and other lawyers through a structured and comprehensive training program that evolves at every stage of their career. From preparing new partners for leadership roles to equipping junior partners to deepen their client relationships and build their practices, Andrew gives us an inside look at how Latham is setting up its attorneys for long-term success. We also discuss the unique role of business professionals in shaping law firm training and the firm’s work in training its lawyers to leverage generative AI. At a Glance: 0:00 Introduction: Andrew discusses ongoing training for partners beyond when they are promoted into their partner roles 1:20 Importance of partner development: Preparing for leadership and client management 2:24 Andrew’s career journey: From Latham’s London office to leading global training initiatives 4:02 Partner involvement in firm management and training programs 6:01 Multi-stage partner training: New Partner Academy and Junior Partner Development Retreat 9:17 Financial literacy and business development: Preparing partners for understand client needs and demands 12:13 Integrating lateral partners: Communicating and strengthening understanding of firm culture through structured training 14:28 Rainmaker panel: Insights into business development from partners who role-play a simulated client pitch 18:27 Contributions of business professionals: Elevating law firm training programs to include education and support from business and training experts in the firm 21:53 External experts in training: Lessons from outside speakers, including military leaders and others 24:57 Generational shifts: Adapting training for Gen Z attorneys 30:01 Latham’s AI Academy: Preparing lawyers for the future of legal practice Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Andrew Clark: Link to more information Latham & Watkins’ lawyer development and training: 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: [email protected] LinkedIn: Instagram: Show notes:
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#56: Navigating Difficult Client Relationships in Big Law
01/22/2025
#56: Navigating Difficult Client Relationships in Big Law
One of the most challenging aspects of legal practice is managing difficult client relationships in a high-stakes environment. In today's episode I'll share how to navigate the tough moments when you may be struggling to work with clients that can frustrate your attempts to engage and deliver your best work. At a Glance: 0:00 Introduction: Managing client expectations and setting boundaries 1:20 Common frustrations in client relationships: The stress of meeting high demands and client conflicts 2:43 The importance of engagement letters and billing guidelines in setting client expectations 5:22 Addressing surprise costs: Transparent communication about fee changes 6:21 Staying professional under client criticism: Shifting focus to facts over emotions 8:21 Case study: Escalating client issues when partners are unresponsive 10:12 Listening to difficult clients: Understanding their frustrations beyond the surface 13:17 Knowing when to withdraw from challenging client relationships 14:29 Helping clients navigate their own internal organizational challenges 16:11 Building trust by aligning legal strategies with business concerns Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#55: Balancing Professional Development with Client Work
01/15/2025
#55: Balancing Professional Development with Client Work
In today’s episode, I share practical strategies for staying current in the ever-changing legal landscape, even when billable hours and client demands dominate your schedule. I discuss how to create a system for digesting critical legal updates, leveraging firm and external resources for professional development, and connecting with colleagues to maximize learning opportunities. Whether it’s identifying efficient ways to track industry news or tapping into events and partnerships to expand expertise, this episode offers actionable advice for lawyers aiming to maintain their edge in large law firms. At a Glance: 0:00 Introduction: Why professional development is critical for lawyers at every stage 0:23 The challenge of balancing professional growth with the demands of big law 2:03 Efficient ways to audit and organize legal updates in your practice area 3:23 Using competitor resources and external publications for legal insights 4:26 Broadening your knowledge through business and industry news 5:35 Leveraging webinars and hybrid conferences to keep learning accessible 7:00 Maximizing value from bar associations and local events 7:45 Opportunities in internal firm-sponsored events and panels 8:47 Collaborating with colleagues to streamline learning and share expertise 10:19 Building relationships with senior colleagues for mentorship and mutual growth 12:12 Final thoughts on balancing professional development with client demands Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#54: Specialization v. Broader Practice: Navigating Career Paths for Associates in BigLaw
01/08/2025
#54: Specialization v. Broader Practice: Navigating Career Paths for Associates in BigLaw
In today’s episode, I dive into one of the most important decisions lawyers in large law firms face: whether to specialize in a specific practice area or maintain a broader portfolio of work. Drawing from my own experiences and years of coaching attorneys, I discuss how to assess the benefits and risks of specialization, navigate the expectations of your firm, and balance developing expertise with building a resilient and adaptable skill set. I share real-world examples of lawyers who have successfully crafted their careers by understanding when to focus and when to broaden their practice, offering actionable advice for associates and partners alike. Whether you’re starting your career, planning a lateral move, or considering a pivot, this episode provides practical strategies for standing out in Big Law. At a Glance: 0:00 Introduction to today’s focus on specialization and flexibility 1:20 The question of broad versus specialized practice areas 2:05 Identifying your short- and long-term career goals 2:48 Early trial experience: balancing courtroom skills with specialization 3:32 Choosing the right firm and practice area to advance your expertise 5:12 How to differentiate yourself within competitive practice groups 6:49 The importance of maintaining a broader skill set for market resilience 7:57 Why firms value adaptability in associates and partners 9:09 Pivoting into high-demand areas like healthcare law 9:30 Understanding the concept of "legal athletes" in in-house roles 11:27 Broader skills essential to success: management and budgeting 12:18 Final thoughts on balancing specialization and flexibility Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#53: Take Control of Your Career in the New Year
01/01/2025
#53: Take Control of Your Career in the New Year
In today’s episode, I examine strategies to help lawyers navigate a successful start to the new year in large law firms, touching on topics such as avoiding time traps, setting achievable goals, and maintaining work-life balance. I share real-world examples, actionable steps, and personal insights to address challenges unique to the legal profession, including managing non-billable tasks and actively shaping your career path. If you’re looking to step into the new year with intention and clarity, this episode offers practical advice to make the most of your time and energy. At a Glance: 0:00 Introduction to today’s focus on starting the new year strong 02:02 The importance of avoiding last year’s mistakes and saying “no” 03:13 Prioritize meaningful opportunities and balance workload effectively 04:10 Move forward from past setbacks and focus on future plans 05:24 Set actionable priorities for the year with specific goals 06:24 Engage with your network strategically to grow client relationships 08:15 Proactively meet new colleagues and build internal connections 09:18 Set a timeline for your professional goals and sticking to it 10:41 Use trackers and schedule to stay accountable and avoid frustration 11:07 Take ownership of your career path and seek better opportunities 12:14 Avoid passivity and actively shape your work experience 13:04 Identify changes to move forward when feeling stuck 14:16 Assess physical and mental health to maintain balance 15:07 Build better rest habits to improve focus and productivity 16:28 Encouragement for the new year and ways to connect Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#52: New BigLaw Partners: Use a Tracker to Build Stronger Client Relationships in Big Law
12/25/2024
#52: New BigLaw Partners: Use a Tracker to Build Stronger Client Relationships in Big Law
In today’s episode, I explore the practical side of building and maintaining client relationships as a partner in Big Law. I discuss why a structured approach to business development is crucial and how a simple tracker can help you stay on top of key contacts, follow-ups, and next steps. I share actionable advice on how to confidently ask clients for work and how to keep relationships vibrant and productive, even with long-standing contacts or those you haven’t reached out to in a while. At a Glance: 0:00 Introduction: Recap of last episode and today’s focus on tracking client outreach and asking for work 2:14 The importance of regular follow-ups and tailoring outreach frequency 3:26 Why business development often fails: The need for a structured tracker 6:01 Personalizing follow-ups: Adding shared interests to strengthen connections 8:15 Reconnecting with dormant contacts: Tips for restarting relationships effectively 9:16 Following up on RFPs: How to stay proactive without seeming desperate 11:14 Scheduling regular tracker reviews to refine your outreach strategy 14:15 Asking clients directly for work: Building confidence and structuring the conversation 17:20 Aligning with client needs: Honest discussions about opportunities and adjustments 18:23 Closing thoughts: Sustaining relationships and preview of next steps in client development Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] Download tracker here: LinkedIn: Instagram: Show notes:
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#51: New BigLaw Partners: Business Development Strategies
12/18/2024
#51: New BigLaw Partners: Business Development Strategies
In today’s episode, I discuss the practical steps and strategies for new Big Law partners to successfully develop their own clients. From creating a concise and compelling personal brand to cultivating meaningful professional relationships, I share actionable advice for building visibility both inside and outside the firm. Additionally, I address how to approach cross-marketing opportunities, foster client trust through long-term engagement, and manage outreach efforts strategically. These insights will help you not only grow your practice but also shape a fulfilling and sustainable career in Big Law. At a Glance: 0:00 Introduction to today’s topic: Developing your own clients as a new partner 1:20 Why client origination matters for control and career satisfaction 3:00 Creating a defined personal brand in 2-3 sentences 6:52 How to expand your brand and convey unique strengths 7:12 Building visibility inside your firm: Tactics for reintroducing yourself 9:10 Success through cross-marketing and collaboration with other practice groups 10:40 The importance of relationships over transactions in client development 13:28 How authentic connections and shared interests strengthen networks 14:13 Finding opportunities outside traditional legal circles 16:16 Managing follow-ups: Frequency, tiers of outreach, and knowing when to scale back 18:15 Why long-term flexibility in relationships matters 19:08 Preview of next episode: Tracking client development progress Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#50: New BigLaw Partners: Key Priorities for Success
12/11/2024
#50: New BigLaw Partners: Key Priorities for Success
In today’s episode, I delve into essential strategies for lawyers stepping into a partnership role in large law firms. From building a book of business and managing the financial responsibilities of partnership to fostering internal and external relationships, I provide actionable advice to help you thrive in your new role. Whether you're navigating client origination, financial metrics, or internal dynamics, this episode is packed with practical steps and insights to set you up for long-term success. At a Glance: 00:00 - Introduction to Big Law Life and navigating the challenges of becoming a new partner in Big Law 01:20 - Congratulations on becoming a partner; now what? 01:38 - The importance of building your own client base early in your partnership 03:39 - Gaining control of your work early on in your partnership 04:30 - Learning the financial metrics that firms evaluate for partner success 05:54 - Tips for understanding and improving realization rates and billing processes 07:10 - Navigating varying expectations for junior versus senior partners 08:36 - Personal financial planning as a new partner, including tax considerations 09:44 - Preparing for irregular income and potential capital contributions 10:30 - The importance of internal relationship-building within the partnership 11:28 - How to craft a personal brand and elevator pitch as a new partner 12:21 - Asking and seeking to understand the value your fellow partners bring to the firm Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#49: Big Law Associate Year-End Checklist for Success
12/04/2024
#49: Big Law Associate Year-End Checklist for Success
In today’s episode, I tackle the critical steps associates in large law firms should take to close out the year effectively. From navigating mandatory trainings and pro bono commitments to planning for professional growth in the upcoming year, I provide specific, actionable advice to ensure you finish the year strong and position yourself for success in the months ahead. I also discuss the nuances of firm culture, from handling leave requests during the holiday season to expressing gratitude to colleagues and supervisors in ways that strengthen relationships. At a Glance: 00:00 - Introduction to Big Law Life and why year-end is a pivotal time for associates in Big Law 00:20 - The importance of meeting billable hour goals and mandatory requirements 01:45 - Strategies to complete overlooked tasks like trainings and pro bono work 02:40 - How to approach holiday leave requests and ensure smooth coordination 04:23 - Staying accessible during holidays and managing team expectations 05:17 - Recognizing and appreciating colleagues and supervisors at year-end 07:10 - Personalized client outreach: Going beyond standard holiday cards 07:30 - Planning for conferences, training, and firm-approved growth opportunities 08:12 - Turning feedback into actionable career development plans 10:12 - Advocating for opportunities: Avoiding the common pitfall of waiting 11:39 - Setting goals and creating a tracker for accountability in the new year 13:18 - Closing the year with momentum and preparing for a fresh start Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#48: New BigLaw Partners: Essential Mindset Shifts from Associate to Partner
11/27/2024
#48: New BigLaw Partners: Essential Mindset Shifts from Associate to Partner
In today’s episode, I discuss critical mindset shifts necessary for transitioning into a partnership role at a large law firm. I cover everything from securing and justifying business development budgets, to managing challenging relationships with fellow partners, and re-evaluating your career trajectory as you establish yourself in this demanding role. Drawing from personal insights and coaching experiences, I provide actionable strategies for navigating these challenges and achieving long-term success as a partner. At a Glance: 00:00 Introduction to Big Law Life and today’s episode 00:20 Celebrating the milestone of making partner 01:10 The crucial mindset shift from associate to partner 02:30 How to approach business development funding as a new partner 05:00 Maximizing ROI on firm-sponsored travel and conferences 07:15 Understanding firm protocols for budget allocations 08:40 Balancing conflicts with fellow partners 11:30 Managing your practice and pivoting when necessary 15:00 The ongoing pressures of business development as a partner 16:30 Final advice on maintaining adaptability as a partner Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#47: Strategies for Thriving Through Law Firm Mergers
11/20/2024
#47: Strategies for Thriving Through Law Firm Mergers
In this episode, I delve into the challenges lawyers encounter when their firms go through mergers. Drawing from my experience as an equity partner in global firms, I discuss the often-overlooked aspects of these transitions, such as managing new technology systems, navigating office relocations, embracing new branding, and adapting to shifts in leadership. I also touch on the practical steps lawyers can take to protect client relationships, manage origination credits, and align with the evolving firm culture. My goal in this episode is to give you actionable strategies for staying ahead and safeguarding your career when major changes come your way. At a Glance: 00:00 - Introduction to today’s episode 01:20 - Overview of recent law firm mergers and their impact on market power 02:14 - Initial changes post-merger: technology, office location, branding, and leadership shifts 04:16 - Navigating new office space dynamics and hot desking 05:03 - Challenges with firm rebranding and identity alignment 05:30 - Leadership restructuring and its implications for legal teams 06:12 - The importance of assessing fit within the newly merged culture 07:24 - Evaluating potential downsizing in business and legal operations roles 09:02 - Staying informed through firm meetings and assessing post-merger shifts 09:55 - Managing client conflicts and ethical considerations during mergers 11:01 - Risks and considerations for equity partners under new firm structures 12:43 - Complexities of multinational firm mergers and compensation variances 14:29 - Opportunities for career growth and new business in merged firms 15:04 - Building connections with new colleagues and collaborating effectively 16:17 - Retaining origination credit and client relationship management 18:12 - Client insights into new colleagues: building trusted alliances 19:02 - Proactive strategies for adapting to the evolving firm landscape Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#46: Key Client Insights Your BigLaw Competitors Are Missing
11/13/2024
#46: Key Client Insights Your BigLaw Competitors Are Missing
In today’s episode, I’m diving into the essential questions lawyers in large law firms should be asking their clients to strengthen relationships, retain business, and gain a deeper understanding of client expectations. I’ll share how law firms often miss out on valuable client feedback and provide a practical roadmap to get candid insights on everything from hiring processes to building meaningful connections and staying competitive in the legal landscape. Through specific examples, I’ll guide you on how to position yourself as a trusted advisor and invaluable partner to your clients. At a Glance: 00:00 - Introduction to today’s episode 01:20 - Insights from a recent conference on client-centric practices 02:08 - Understanding a client’s process for selecting outside counsel 03:11 - How assumptions about client selection can harm relationships 04:12 - Exploring various bidding processes in client hiring 05:17 - Importance of postmortem discussions, whether hired or not 06:28 - Address the fear of client feedback as a growth tool 07:13 - Bring in business professionals to gather client feedback 08:18 - Frame questions to learn about competitors constructively 09:17 - Essential factors beyond legal skills clients look for 10:21 - Be prepared for potential negative client feedback 11:07 - Recognize specific client needs that may exclude certain firms 11:30 - Final thoughts on feedback as a tool for improving client relationships Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#45: BigLaw Insights from AmLaw Reporter Andrew Maloney
11/06/2024
#45: BigLaw Insights from AmLaw Reporter Andrew Maloney
In today’s episode, I dive into the significant trends and challenges shaping big law as we approach the end of 2024. Joining me is Andrew Maloney, a journalist at The American Lawyer who covers the economics and industry shifts impacting our profession. We discuss the rise of business-minded strategies within law firms, focusing on key topics like partner compensation trends, mergers, and the evolution of firm culture. Andrew shares his insights on how these developments are changing the landscape and what we might expect as we move into 2025. From the dynamics of cross-border mergers to the impact of non-equity tiers on firm profitability, this episode is full of valuable perspectives on what’s next in big law. At a Glance: 0:00 - Introduction to today’s guest, Andrew Maloney 1:20 - Reflecting on the rapid changes in the legal industry in 2024 2:19 - Andrew’s path to legal journalism and focus on the business of law 8:09 - Emergence of the “business of law” and its impact on firm dynamics 12:05 - Major legal industry stories of 2024: top compensation trends and lateral moves 14:51 - Increased competition among top law firms and strategic expansions 15:52 - 2024 trends in law firm mergers and how they’re reshaping firms 19:05 - Laura’s reflections on post-merger outcomes and growth sustainability 22:44 - Case study: Chicago as an evolving legal market 26:04 - Predicting significant trends in 2025 28:09 - How upcoming elections may affect law firm talent acquisition and attrition 31:05 - New emphasis on the non-equity partner model as a profitability strategy 32:54 - Closing thoughts and a look ahead into 2025’s legal landscape Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Andrew Maloney: 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: [email protected] LinkedIn: Instagram: Show notes:
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#44: Helping BigLaw Attorneys Navigate the Business Side of Their Law Firms
10/30/2024
#44: Helping BigLaw Attorneys Navigate the Business Side of Their Law Firms
In today’s episode, I discuss some essential steps and common challenges that arise when attorneys in large law firms get frustrated in dealing with the business and financial side of their practices, and what their firms expect from them in that regard. We’ll explore why some lawyers resist engaging with financial aspects of the practice, how business professionals can better support lawyers, and discuss actionable ways to foster more cohesive teamwork within the law firm. At a Glance: 00:00 – Introduction to the episode 01:20 – Importance of collaboration between attorneys and business professionals 02:10 – How financial considerations have become critical for law firms’ success 04:04 – Why attorneys can resist engaging on business and financial considerations 07:07 – Potential impediments to business collaboration 11:15 – How assumptions around client expectations can misalign firm and client interests 13:10 – Breaking down financial and client billing requirements in a mutually beneficial way for clients and law firms 15:26 – Enhancing the collaboration of business professionals and legal professionals to assist in law firm profitability and success Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#43: Avoiding BigLaw Mistakes in Business Development
10/23/2024
#43: Avoiding BigLaw Mistakes in Business Development
Today’s episode focuses on business development challenges faced by both new and seasoned partners at large law firms. I provide practical strategies to help you define your unique value proposition, target effective marketing efforts, and seek client feedback. You’ll find out how to address common pitfalls, such as spreading yourself too thin, failing to personalize follow-ups, and how to turn a past misstep into an opportunity for new business. At a Glance: 00:00 – Introduction to the episode 01:20 – Business development challenges faced by partners in large firms 02:07 – Defining unique expertise and avoiding the “jack of all trades” approach 03:23 – Finding a niche and standing out in a saturated market 05:10 – Evaluating the ROI of business development activities 06:17 – Personalizing marketing efforts and outreach for maximum impact 08:22 – Importance of follow-ups in deepening client connections 09:18 – Seeking client feedback and addressing past missteps 10:43 – Soliciting qualitative feedback beyond standard client surveys 12:19 – Evolving nature of business development for lawyers Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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#42: Value-Based Billing Strategies for Law Firms with Justin Ergler
10/16/2024
#42: Value-Based Billing Strategies for Law Firms with Justin Ergler
In today’s episode, I am joined by Justin Ergler, a globally recognized thought leader in legal operations and legal procurement. We discuss the evolving role of business professionals in the legal industry and how value-based billing models are reshaping the traditional law firm structure. With a global legal industry valued at $1 trillion, Justin shares his insights on alternative fee arrangements, the importance of building strong client-firm relationships, and how legal departments and law firms can optimize value while maintaining profitability. The episode offers practical advice for lawyers navigating the intersection of law and business, providing specific strategies to improve client service and communication. At a Glance: 00:00 – Introduction and Justin Ergler’s Background 00:02 – The Evolving Role of Business Professionals in Legal Operations 00:05 – The Billable Hour: Exploring Alternatives and Addressing Concerns 00:10 – Case Studies: How Alternative Fee Arrangements Work in High-Stakes Matters 00:14 – Trust and Transparency: Building Strong Client-Firm Relationships 00:17 – Communicating Rate Increases: The Importance of Tailored Approaches 00:22 – Understanding Client Needs: Business-Side Conversations with Law Firms 00:28 – The Legal Value Network: Elevating Business Practices in Law 00:36 – Closing Thoughts and How to Learn More About Legal Value Network Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Justin Ergler: 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: [email protected] LinkedIn: Instagram: Show notes:
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#41: How Associates Can Avoid Derailing Their BigLaw Careers
10/09/2024
#41: How Associates Can Avoid Derailing Their BigLaw Careers
In today’s episode, I address a critical issue that many associates in large law firms face—identifying and managing warning signs in their law firm careers before it’s too late. I outline practical strategies to help associates understand what firms expect and how to recognize when they may be at risk, including getting ahead of the issue of low billable hours, handling situations where there is insufficient work in your office or practice group, and the dangers of poor communication and accountability. At a Glance: 00:32 – Why law firms don’t provide roadmaps for associates and the need for self-awareness 01:20 – Early warning signs when associates are on the verge of trouble 02:34 – The importance of meeting billable hours and avoiding over-reliance on non-billable work 03:38 – Responding to work opportunities during vacation when billable hours are low 04:34 – Struggling to find work? Here’s what to consider 05:15 – Feedback: Why associates should proactively seek it from partners 06:14 – The challenge of working in a slow office and potential solutions 08:11 – When your practice group is slow: Short-term vs. long-term impacts 10:00 – Seniority issues: When associates outgrow their niche and how to pivot 11:45 – Administrative issues, timekeeping, and office presence: Why they matter 14:05 – Vanishing acts: The importance of communication and accountability Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law. For Apple Podcasts, , scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast ! For Spotify, on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. 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: [email protected] LinkedIn: Instagram: Show notes:
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