Study: Millennials Want to Make Partner on Own Track

Source: The Indiana Lawyer

By Olivia Covington, The Indiana Lawyer

Across the U.S. workforce, millennial workers now make up the largest pool of available employees, outpacing the retiring baby boom generation that had dominated the market. Though baby boomers and millennials have grown up in different decades, a common thread runs through both generations: the goal of becoming partner.

According to a study recently released by Major Lindsey & Africa and Above the Law, roughly 44 percent of millennial law firm attorneys surveyed said they hope to someday make partner, either at the firm they’re currently with or at another firm. That result came as a surprise to Major Lindsey & Africa partners who, like many older attorneys, bought into the assumption that the law’s youngest employees were exploring options off the traditional partner track.

Ru Bhatt, managing director of Major Lindsey & Africa’s Associate Practice Group, said the perception in recent years has been that millennials pursuing a career in the law prefer to become in-house counsel, a position that is often desirable because of its more flexible hours. John Trimble, a partner at Lewis Wagner LLP in Indianapolis, agreed, and noted that because of the flexibility in-house counsel positions offer, law firms are no longer competing with each other for associates, but rather with in-house opportunities.

But according to the survey, just 18.75 percent of respondents indicated they saw themselves working as in-house counsel 10 years down the road, compared to the 43.64 percent who want to make partner.

“(The results) are the opposite of what the perception is out there,” said Michelle Fivel, a partner in the Major Lindsey & Africa’s Associate Practice Group. “It’s very eye-opening.”

 

Read more of this article at The Indiana Lawyer.

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