Game Theory - Making Partner in Law Firms and More

"Who you are up against in the years surrounding your year is almost one of the biggest determinations." - Response to post on Fishbowl Big Law about making partner in a law firm, March 29, 2023. Here is the thread.

It turns out that there are no stand-alone absolutes. Even if the lawyer hoping to become partner is a rock star, that's still no guarantee. Along with that dazzler there could be other homegrown or lateral lawyers with more wattage. Get It: What matters a lot is who you are up against. All those junior lawyers saluted on websites for participation in important legal matters may turn out to not be shoo-ins for partnership. 

It was hailed as seminal when in Spring of 2020 Paul Weiss launched a Sustainability - ESG practice. No other law firms had done that, even though already the changing values imposed on businesses were triggering upheaval, ranging from the C-Suite to the boardroom. Paul Weiss had bypassed the usual competitive context by being a first-adopter. Later when other firms created their ESG practices those didn’t have the same newsworthy outcomes.

This goes back to game theory. One fundamental is to assess the competition. For example, you are making a high-profile presentation at an industry conference. You don't prepare that in isolation. Instead you dig around about what the other presenters will be hitting on. And how. Are they using gee-whiz graphics? Will you come across as lazy if you don't also incorporate provocative visual material? That's exactly why forms of insider information are so important in strategy. Why are X, Y, and Z doing?

Of course, this applies to not only careers in law. The brilliant scholar going after a tenure-track teaching job in the Ivy League might not get anywhere if there is a glut of that kind in a particular year or years. The obvious question is: What's the market like? Game theory also plays a major role in when and how to put your house up for sale. What else is out there and at what price?

So much of my career coaching practice winds up dealing with timing. The when, for instance, of trying to exit a job or a career path depends on myriad other factors in addition to the professionals' credentials. Right now with a glut in the labor market in so many categories it's often wise to just stay put. It could be downright reckless to ignore the competitive forces. 

Where are you in how you make your living? Or in your job search? Intuitive career coaching offers you a new way to go about it. Take advantage of a complimentary consultation. Schedule an appointment with Jane Genova (janegenova374@gmail.com)

Genova and Associates also provides Human Resources communications, ranging from white papers to thought-leadership articles. You will differentiate yourself from the competition. Please contact janegenova374@gmail.com or text 203-468-8579.