'$20 million is the new benchmark in London’: the City’s top headhunter on the law firm partner hiring frenzy, why firms are paying millions and how the rules of partnership are changing
In today’s episode, we sit down with Scott Gibson, one of the City’s top headhunters and co-founder of elite partner-level recruitment firm Edwards Gibson.
With 25 years in the game, Gibson has seen it all - and according to him, the market is crazier than ever.
We discuss what’s driving the hottest law firm partner transfer market in years, why elite firms are paying eye-watering sums, which practice areas are in hottest demand and how the rules of partnership are changing.
Scott also reveals what law firms are looking for in lateral hires and gives his advice for associates and junior partners looking to make their mark.
Chapters
00:00 Introduction to Scott and His Career Path
02:03 Current State of the City Talent Market
06:11 The Impact of US Law Firms on the Market
09:59 High-Profile Partner Moves and Their Implications
14:07 The Economics Behind Law Firm Investments
17:58 What Law Firms Look for in Lateral Hires
21:54 Impact on firms outside the Magic Circle
26:13 Ageism and Retirement in Law Firms
30:53 The Pension Dilemma in Law Firms
32:42 Capital Contributions and Partner Exits
36:31 Navigating Guaranteed Compensation
38:30 The Role of Headhunters in Law Firm Recruitment
46:07 The Partner Hiring Process
55:20 Career Advice for Aspiring Partners
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Non-Billable is an email newsletter and media company for modern legal professionals, brought to you by a small team of former City lawyers and finance professionals.
Visit our website: https://www.nonbillable.co.uk/
The Non-Billable Podcast
The Non-Billable Podcast takes UK legal professionals beyond the billable hour, bringing you interviews with top lawyers, law firm leaders, industry experts and legal tech innovators to uncover actionable insights on the business of law, career growth and the future of the industry.
Hosted by Oliver Attinger, a former finance lawyer at a leading City law firm with in-house experience at an investment bank - now asking the questions he wished he had when he was practising.
Brought to you by Non-Billable, the go-to newsletter for City lawyers, in-house counsel, and legal professionals.
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