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Partnership: Not necessarily a long road at Mallesons

For many law firm associates the journey to partner can be long and arduous. On top of a six to eight year minimum wait period at most firms, during the GFC associates at some large firms had to postpone their progression by a year due to economic hardship. US firm Weil Gotshal, alongside other big names including Paul Weiss and Milbank, Tweed, Hadley & McCloy, have also recently announced smaller class sizes for 2010, stating that they had put too many forward in 2009.

In addition, economic considerations are just one of many factors used in promoting partners: "It's not as if the economy is doing X, and so we're looking to make partners in Y because of that," said James Brandt, managing partner of Latham & Watkins’ New York office. Latham & Watkins made 22 partnership appointments firm-wide in 2010, down just one on last year.

Mallesons is one firm which has addressed the concerns associates have about maintaining their enthusiasm during the wait to become partner. It has listened to its associates and examined the market. The process to become partner once selected has been cut from two years down to one. “Unlike other firms, we did have a two year process, but you’ve got to look at what’s going on with the larger international firms and we have made changes accordingly,” said David Bateson, partner with Mallesons Hong Kong office. He added that the firm needed to keep up to date with the rest of the market.

 

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