Recruiters say retirement surge is forcing law firms to think strategically about attracting partners
The demand for lateral partner hires remains strong in Canada's competitive legal market. Multiple legal consultants and industry leaders told Canadian Lawyer that this trend is partly driven by what they call the “big retire” – a generational shift occurring across major law firms as senior partners exit the profession.
Recruiters agree that for a match between a law firm and a lateral partner or senior associate to be considered “made in heaven,” both sides need to have their expectations met.
Legal recruiters Michaela Krell and Warren Smith offer a dual perspective on what makes a placement successful. For firms, it’s about a portable book of business and the right experience. For partners, it’s about autonomy, support, and proper compensation.
According to Krell, national director at the legal recruitment firm Life After Law, partners who make lateral moves need a strong book of business, few previous moves, and a practice that aligns with the firm they are moving to.
An associate move, she says, is more dependent on the needs of the firm looking to hire.
The most in-demand candidates, she says, fit a specific profile: senior enough to step into big shoes, portable enough to bring their book of business, and early enough in their career to justify long-term investment.
Ideally, the new partner is in their 40s, with a solid client roster in a transferable practice area such as corporate or commercial litigation. Coming from a well-regarded firm with a stable career trajectory – minimal job-hopping – and potentially the ability to bring an associate or two could make them the perfect candidate, she adds.
“This would be a partner from a renowned firm – typically a national/international firm or prestigious boutique firm – with a seven-figure book, 75 percent or more of which is portable. This will open many doors,” Krell says.
However, even with a strong book of business, firms must consider how much of that work will follow the partner to their new role.
“A million-dollar book at one firm is not always that value at another firm, depending on the partner's hourly rates,” Krell says.
Large firms usually charge higher hourly rates, so if the partner moves to a smaller firm with lower rates, this number could be lower – for the same work done. That opens the question of whether the new firm has the resources to properly support the client.
Conversely, if a partner moves to a larger firm with higher rates, clients may not be willing – or able – to pay more. “The book will be a lot smaller if the clients do not follow,” Krell says.
Another critical factor Krell highlights is job stability.
“Jumping around is probably the number one red flag we see in making a lateral move. The more moves a lawyer has made, the harder it can be to make a change,” she says.
The best advice she can give: Minimize your moves to the extent possible.
While firms are evaluating candidates, candidates are equally assessing firms. According to legal consultant Warren Smith, three themes emerge in almost every conversation he has with lateral partners considering a move: autonomy, access to resources, and compensation.
“Remember: autonomy means different things to different people,” Smith says.
For some, autonomy means the freedom to manage their practice without interference. For others, it’s about having a seat at the table when key firm decisions are made. What matters most, he says, is ensuring that the firm’s definition of autonomy aligns with the partner’s.
Without that alignment, even a well-intentioned move can end up feeling restrictive.
The second factor is access to resources. This refers to whether senior lawyers have what they need to grow their practices. Just like autonomy, there needs to be a clear match between the partner’s expectations and what the firm can offer.
Whether the need is for marketing support or the ability to hire an associate quickly, Smith encourages lawyers to clarify these expectations early in the process.
“Support shouldn’t just exist on paper – it should move your practice forward.”
Lastly, Smith emphasizes the importance of compensation alignment – not just the numbers, but also how compensation is distributed.
Partners want a platform where the best version of their practice is also the version the firm values most, he says.
“There is no sense being a high personal producer in a firm where originations alone drive rewards.”
Smith emphasizes that partners should regularly revisit their needs and motivations.
He adds that partners who want to move first must answer a simple question: What is this chapter of their lives about?
That often verifies whether the move makes sense, or if “the paragraph is in alignment with the chapter," as Smith puts it.
A helpful technique he recommends is to look at the situation through an external lens.
He asks lawyers how they would advise their best friend if they came with their current situation.
“People are much better at evaluating other people's situations than their own – personal bias and fear can get in the way of honest assessment."
