Post on 14-Dec-2015
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Setting Career Goals
Keith EtheringtonLaw Society Council Member for Solicitors Practising Civil Litigation
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Routes to Partnership
Once upon a time….
Private practice, in-house, government
But from 2011 Alternative Business Structures – “Tesco Law”
Entirely new regime
Other threats:
Jackson report – funding access to justice may affect the viability of many firms
Completely new Solicitors Code of Conduct built upon the idea of “outcomes focussed regulation”
Professor Stephen Mayson predicts that by 2017 3,000 of the 8,500 firms with fewer than 10 partners will cease to exist
Should this still be a goal?
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First question to ask
This can no longer be assumed
What are the firms main profit areas?
Are these area likely to be the target of bulk providers?
E.g. conveyancing, accident claims, wills & probate
Is the firm heavily reliant on legal aid or a single client?
How old are the partners? Are you their exit strategy?
Should you choose owning equity in an old structure or seeking senior involvement in new structures?
What are the chances of this firm being around in the future?
+The brave new world of ABS
Variety of business models: partnership, LLP, Ltd Co
Legal disciplinary partnerships – mixed lawyers
LDPs – some non-lawyers
Externally funded legal services businesses
Multi disciplinary practices (MDPs)
+Considerations before joining a business
Risk of personal liability to managers
Tax position for managers
Disclosure of financial information
Perceptions of staff, clients and others
+Risk
Why do partnerships still exist?
Worst of all business models
Insurance protects against most risks, but not:
Discrimination claims
Reputational damage
Operational failures
Strategic risks
+New opportunities with ABS
Benefits of large corporations
Decent pensions
Proper maternity/paternity leave
Management, performance and salary structure
More chance of specialisation
+Personal career planning
Partnership once seen as end of career planning
Treadmill of exams school, university, post-grad
Diligently attain partnership but then what?
30-40 years working life left after that
+If owning the equity is your goal
Associate – 4/5 years
3-4 years as an associate
then salaried
perhaps fixed share equity partner
Positioning yourself to succeed
+Current market
Economic Factors
The Disciplines
Transactional Litigation
- Co/Co/Property/Banking - Commercial Litigation
- Insolvency/Employment - PI
Private Client Niche
- Wills/Probate/Tax & Trusts - Tax/Construction
- Conveyancing - Pensions/Planning/Environmental
+Where are the opportunities?
Firm Type
National/City/US firm
Mid Tier/Niche
New office opening
High Street
Firm Size v Remuneration
Location
Move for the opportunity?
+Practical Tips - Billing and competency assumed
What makes you stand out?
Niche specialism
Work winning
Managing key client relationships
Building a team
Training/mentoring role
Cross referrals
Secondments
+Marketing What does this mean?
Marketing at your level with clients
Arranging dinners/drinks evenings, sports events
Local networking groups
Chamber of Commerce
C&I Group, AWS, JLD
Industry events, breakfast meetings
Publish articles in legal journals
Internal update bulletins/know-how
Delivering legal update seminars to clients
+Your personal plan
Marketing/work winning - see above
Technical skills
Skills set-niche v generalist
Billing and chargeable hours
Feedback from appraisals/Advice/mentoring from partners
Administration i.e. WIP and general firm wide procedures
Internal/external profile
Training/mentoring junior fee earners
Your firm’s partnership criteria (if published)
+Moving to another firm for partnership
Move with a view to becoming a partner – analyse risk
Consider profile of practice
Location change
Client following – you v your firm - where is loyalty?
Replacement
+Benchmarking
Create a plan
Set milestones
Review regularly to assess achievements
Be prepared to change focus
Expect to work hard as competition fierce
Don’t give up
+Other options to private practice
Many opportunities in national and local government
Solicitors in the armed forces
Working in house for a large corporation
Charity legal departments
Judiciary
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What type of judge?
•District Judge (Civil)
•District Judge (Criminal)
•Circuit Judge?
•How many more?
+Judicial Positions
Assistant Judge Advocates General
Costs Judges
District Judges (Civil and Criminal)
Employment Judges
First tier tribunal judges (Social Entitlement Chamber, Education and Social Care Chamber and tax Chamber)
Immigration Judges
Coroners
And more than 30 others
+Judicial Salaries 2009/10
District Judge, Tribunal Judge £102,921
Circuit Judge, Regional Chair of ET £128,296
President, Employment Tribunal £138,548
High Court Judge £172,753
Lord Justice of Appeal £196,707
Lord Chief Justice £239,845
+Fee paid Judges
Deputy District Judges etc
Important first step before obtaining a full time position
20 days sitting per year
£468 per day
+Key skills
1. Intellectual capacity
High level of expertise in your chosen area or profession
Ability quickly to absorb and analyse information
Appropriate knowledge of the law and its underlying principles, or the ability to acquire this knowledge where necessary
+Key skills
2. Personal qualities
Integrity and independence of mind
Sound judgment
Decisiveness and objectivity
Ability and willingness to learn and develop professionally
3. An ability to understand and deal fairly
Ability to treat everyone with respect and sensitivity whatever their background
Willingness to listen with patience and courtesy
+Key Skills
4. Authority and communication skills
Ability to explain the procedure and any decisions reached clearly and succinctly to all those involved
Ability to inspire respect and confidence
Ability to maintain authority when challenged
5. Efficiency
Ability to work at speed and under pressure
Ability to organise time effectively and produce clear reasoned judgments expeditiously
Ability to work constructively with others (including leadership and managerial skills where appropriate)
+Evidencing the criteria
Keep a diary of key cases
Voluntary work or other non-legal activity
Have a date in mind when you will start the application process
Judicial shadowing
Notes of making difficult decisions
+Application process
Application form with three referees
Written closed book exam
Two closed book role plays
Interview with three panel members
Scouting for Boys
It’s a book not a criminal offence!
Created the Scout movement 100 years ago.
• BP in scouting stands for
BE PREPARED!BE PREPARED!
+What is an elevator speech?
• An American concept
• Concise communication designed to be delivered in the time it takes a lift to travel from the top to the bottom floors of a building
+As versatile as a Swiss Army knife
Networking events
Careers fairs
Speaking to potential employers
If you are in a lift with someone important
Focussing your mind on your key objectives and successes in your organisation
It can be used in many situations:
+How long should it be?
Wide variation between experts
Minimum 20 seconds
Maximum two minutes
No reason why you can’t employ both
Use a short as a soundbite
Then use the long one once you’ve attracted interest
+Format of the soundbite• Start with “a hook”
Your first statement should require the listener to ask a question in return
Avoid the tacky or corny
Witty is good
+Example
Hi, my name is Tom and I turn dreams into reality
How do you do that?
I’m a wedding planner for high income couples working with elite status hotels across the world
+It may sound cheesy but…
It immediately demonstrates self confidence and self belief
In the UK it is unusual and so will make you stand out from the crowd
It opens the door to a pitch about what you are trying to achieve and how the other may be able to help you
+Full elevator speech
About 200 - 300 words
Dozens of examples on the internet
Know your enemy!
If you want a job explain how you will make more profit than current employees
If you want sponsorship emphasise the return on the “investment.”
The listener is likely to be thinking “What’s in it for me?” So make it plain.
Structure
Depends on what you are pitching for
If you are looking for a pay rise:
Who am I?
Why am I worth the extra money?
What will the firm’s return be?
Why am I different to other employees?
Things not to say
I’m skint
You gave Jane more so I should get the same
I want a new car
Because I’ll go somewhere else (they might just let you)
Any other sob story
What’s your USP?
Unique selling proposition
Why are you the best in your department?
What would the firm lose if you left?
Why are you more profitable?
Which client are with the firm because of you?
Which major cases have you won?
+Structure for a job seeker
Who am I?
Who are the target employers?
Define THE employer
What need or issue does the employer face?
Identify yourself in terms of job function
What do you contribute?
Prioritize the benefits THEN
Identify the SINGLE compelling reason for the employer to hire you
Knockout blow
Develop a statement of the primary differentiation of yourself
The SINGLE most important thing that sets you apart from the competition
+Do’s and Don’ts
Do’s:
Sound effortless / conversational
Rewrite your speech to remove odd words or clumsy phrasing
Practice
Be confident and enthusiastic
Maintain eye contact
Stop if the listener is bored/not listening
End with an action request: business card / interview appointment
Be short
+Don’ts
Be shy
Ramble / waffle
Rush
Focus on yourself
Let it end with the listener thinking “So what?”
Forget to update your speech regularly
Sound monotone
Go on and on and on and on
STAND UP, SPEAK UP, SHUT UP
+Benefits
If you are talking to a sponsor or potential employer this is obvious
Use as a team building exercise
Underline existing committee job descriptions to give the individual confidence in their role
Transferable skill: useful for commercial breakfast meetings
Baden Powell said be prepared
Be positive
Be passionate
Be potent
Just not
Pathetic
Petulant
Or perspiring