The Lateral Partner Process
Whether you have moved laterally before or never moved in your career, the lateral process is rewarding and exciting. Fear usually keeps most partners from beginning the process because of not knowing what to expect. At the Lion Group, we empathize and walk our candidates through this process with care and professionalism.
The time commitment varies from firm to firm, but generally this process can take 3 months, sometimes 9 months and 30 days is the exception.
Here are the steps:
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Recruiter Prospect and Partner Permission
In this industry a recruiter typically approaches a partner candidate with firm options and opportunities. The partner assesses and chooses who to talk to and grants the chosen recruiter permission to release agreed and understood information. It is most advantageous to approach at least 3 firms when starting out. Partner candidates lean toward one firm at a time, and this can prolong the Lateral Process and hinder their ability to gauge the market and compare offers. Bottom line: This process requires a time commitment so best to make the most of it in the shortest amount of time. The type of information initially released is as follows:
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Portable book of business (Actual estimated future business generation from a current client)
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Bill Rate (Both stated and actual)
The recruiter will also share noteworthy information about the candidate and their education background typically from the candidate’s web bio.
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Initial contact with the prospect firm(s)
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Firm brings partner candidate to meet strategic partners in the office
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Firm has candidate complete partner questionnaire
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Candidate meets executive leadership
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Offer given
At The Lion Group, we will walk the partner candidate through this process with confidentiality and excellence. Guiding the partner through what to expect, we give our candidates peace of mind.
Let us assist you in the lateral process and we will fill you in all the details of steps 1 through 6 and have you on your way to the next step of your career.
