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Gen Z lawyers do not want to make partner. Why is that? So according to a new report by Lexix Nexus
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25% of legal associates do not want to make partnership at the same law firm they're currently working at
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within the next five years. Now the majority of these legal associates is quoted by the survey state
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that the reason why is because of work-life balance. So what is a partnership? Now law firms are
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structured a little bit differently than most businesses that you would think of, in meaning that when people make partner, they actually pay their money and their physical equity
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into the law firm and then they watch that sort of generate and get into more business
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When legal associates are quoting, they don't want the workaholic lifestyle, they're not
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wrong. To be a partner at a big law firm in the city, you are working long hours, you are not
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having holidays, you're at your client's demands, and not only that, you also have to bring in
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business. It is a very, very tough, long job that's very noteworthy, but it does come with
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the complexes the fact that you won see your family as much as someone who works a normal job So this is what the new generation don really want for themselves Now the majority of the senior leaders quoted in this survey
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see the fact that they already knew this given the fact that this atmosphere going on in the law firm and they can see it
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So what has actually been done about the fact that this generation don't want to go off and be as partners as much as the previous generation of it
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Well law firms are now coming up with new structures such as creating a legal director role
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And instead of your traditional role going up to be partner, you'll go up and be a legal director
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where you'll have the sort of same responsibilities, not as extreme as being a partner
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Now, you don't get the same benefits as the partner does, but you also don't have the same pressures
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So they're trying to do this nice balance of, you're not quite a partner
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but you're also still getting a promotion. But is this doable? The traditional route does need partners
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in order for a firm to grow. So time will tell if this actually pays off
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or will the firm's have to come up with a different idea. So we at City and would like to know
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do you want to climb up the corporate ladder or would you prefer work-life balance
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