Leading law firms have promoted a record number of young lawyers and say the current crop could have a shorter wait to ‘made up’ as a partner.
It even surpassed the 504 promoted in 2019, a figure that was hailed as a bumper crop post the Hayne royal commission.
Senior associates typically have had around six years’ post-graduate experience. It can take much longer to progress further, with the average time to become partner blowing out from 10-12 years to 15 years over the past decade.convinced law firms they can no longer afford to hold young lawyers backAdrian Tembel, the chief executive partner of Thomson Geer since 2009, said the explosion of mid-level lawyers and faster promotion times was a combination of cyclical and long-term factors.
“If you are progressing fast in a competitive market, and you’re a mid-level lawyer, you’re less tolerant of opaqueness – and quite frankly not being given promotions, or income increases,” he said. “I think probably people are made up a bit earlier these days. They want to understand the career path and are a bit less patient, so maybe the cycle is to make people senior associates as a fourth or fifth-year not a sixth or seventh-year [lawyer],” he said.
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