JOB INSIGHTS
Partner - Legal
LAST UPDATED 05 Aug 2022
30 active jobs

The role of legal partners today

 

As one of the most senior roles, partners at a law firm serve as directors and core leaders of their industry. As lawyers can choose to specialise in diverse fields, becoming a partner at a law firm can be a dynamic and rewarding on-site or remote job. Legal partners own a share of the company they work in, typically alongside other partners in their respective fields. In this way, they oversee day-to-day operations and works to ensure that all departments within the firm work effectively.

Additionally, legal partners maintain their relationships built with clients over time and continue to practice law. Aside from typical legal duties, legal partners help create financial goals for the firm and similar targets that will grow company profitability. In so doing, legal partners can ensure that any novel policy drafted in the firm abides by legal and compliance frameworks.

 

Types of legal partnerships

 

A dream legal job for many, becoming a partner at a law firm is no easy feat. It requires many years of valuable work experience and a dedication to the speciality you’ve chosen. In a law firm, there are two main types of partnerships you can pursue:

  • A general partnership: whereby each owner of the firm shares an equal responsibility in managing company transactions. Every owner works together to ensure smooth business operations, as they’re all accountable for one another’s mishaps. As this partnership necessitates collaboration, such contracts to join one are lengthy and detailed, so that everyone understands the stakes involved.
  • A limited liability partnership (LLP): in contrast to a general partnership, in an LLP every owner is responsible for their individual actions. For example, if one partner is settling a dispute with a client, it is their responsibility to do so effectively. That’s not to say that owners do not collaborate—in fact, they serve more as supporters and help each other out from time to time.

Aside from the above partnerships, such a job in Malta or elsewhere can be diverse in terms of equity status. A partner with equity is someone who earns revenue not just through an annual income, but also directly from the company’s payroll. This revenue is then shared among all equity partners. Equity partners can also choose to invest in the company and increase their shares in the hopes of gaining a higher return long-term. Considering this, non-equity partners do not share the same benefits and instead earns a fixed annual salary.

 

Duties and responsibilities of legal partners

 

Legal partners combine their various interpersonal skills with leadership responsibilities in overseeing and supervising diverse internal processes. With this in mind, partners are able to effectively develop strategies and monitor progress over time. Whilst their specific duties and responsibilities will differ depending on the organisation’s size and industry, commonalities between them include:

  • Analyse and interpret financial transactions of a law firm,
  • Develop strategies to improve business revenue,
  • Adapt and construct policies that help improve company operations,
  • Be an active role-model for peers in the law firm through leadership,
  • Coach and train legal associates on how to meet client needs whilst adhering to company protocols,
  • Maintain positive rapport with external relationships, including clients,
  • Represent and market the law firm to uphold a positive reputation in the market, and
  • Work to resolve any issues that arise in the organisation alongside other partners.

Overall, the legal partner job in Malta or elsewhere can be highly dynamic, for these individuals work with numerous personnel to ensure smooth business operations. Their role is integral within organisations and the demand for talent in this area is increasing, especially as organisations adopt novel technologies and means to conduct everyday tasks. 

 

Salary expectations 

 

The demand for legal partners is rapidly increasing, leading the career with fast-paced growth capabilities alongside impressive salary raises. The Castille Salary Survey is based on the average gross basic salary ranges we have seen offered in the local market over the last 12 months. This survey is updated quarterly, remaining representative of current market trends.  

For a global perspective, it is worth keeping in mind that sources vary and are subject to change with time. Considering these variances, salaries for legal partner jobs consistently reflect an average salary ranging from $110,000 to $200,000 a year. These numbers vary according to level of experience, specialisation, and other associated living costs.

 

Education and qualifications of legal partners

 

Like many on-site or remote jobs, the career trajectory for legal partners is a lengthy and committed one. Prospective lawyers must generally pass law school and external examinations in order to obtain their warrant to practice law. Then, you should begin your work experience as an associate at a law firm—entering the competitive feat of many associates wanting the same achievements as you. Becoming a partner does require the traditional educational background of a lawyer, and then requires a speciality.

As you enter the workforce and begin building your repertoire of clients, you can continue to gain experience and build positive client relations. Then, it’s time to specialise. You can observe the speciality achieved by partners in your current firm or find an area you’re interested in. Any additional qualifications you can gain in the domain chosen is a bonus to employers and displays your commitment to the field. 

It's worth noting that albeit your educational background is important to achieve, becoming a legal partner requires more than good qualifications. You need to build a positive reputation among your professional network and succeed in taking on cases. To help you achieve partnership, you can also look at mentorship opportunities with somebody who has similar interests to you.

 

Trending technologies and skill sets 

 

As a collaborative job, it’s no wonder that legal partners gain their skills in ones such as communication and problem-solving. In working with various office functions, other trending technologies and skill sets include:

  • Leadership: partners provide guidance in business planning and evaluate decision-making related to strategies that ensure company growth, alongside supervising teams and departments to reach goals.
  • Communication: partners communicate and collaborate with internal and external parties of a business. Communication skills are vital to ensure employees, stakeholders, and other senior management members understand the reasoning involved with certain business decisions.
  • Financial planning: as individuals who understand the inner workings of the business, legal partners are responsible for ensuring a company continues to positively succeed, and this means having a greater understanding of short- and long-term investment planning.
  • Marketing: upholding a positive reputation for the firm requires thoughtful relationship building and client retention.
  • Business acumen: although legal skills are a given in this on-site or remote job, legal partners must also comprise an impressive skill set related to industry knowledge and business planning. This is so partners can analyse both legal and business-related issues to best serve clients whilst increasing company revenue.

The above illustrates the general skills of such a job that is focused around supporting business professionals whilst ensuring internal structures operate well. They understand current business objectives and help amend these during shifting workplace trends. 

 

Career prospects as a legal partner

 

Legal partners typically work in various office environments, including a work from home job. They collaborate with diverse personnel frequently and facilitate internal and external communications. The consistent use of valuable hard and soft skills employed by the legal partner is transferable across organisations, meaning these individuals are able to work in diverse workplace settings.

For jobseekers interested in pursuing a career path as a legal partner, individuals should work to gain valuable work experience in any preferred industry. Applicants must consider their area of specialisation thoughtfully and apply for jobs that are relevant. Legal partners can continue to improve their strategic and soft skills through independent learning and keeping up with workplace affairs.

 

Begin your legal partner career today with Castille 

 

Now that you’ve critically assessed what working as a legal partner is about and whether it is right for you, you are able to kickstart your career in this ever-growing field. As technology and the workforce continues to rapidly advance, the role of a legal partner remains a career suitable for the long-haul.

Tags
Partner - Legal
chaticon