How do partners get to the knowledge level they are at? It seems like the quality of training in younger associates is very poor.

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You can learn an astounding amount just from exposure to the deal/litigation cycle and working out issues. The reality is that every client issue is unique. The foundational principles are the same, and seeing them over and over again will drill them into your brain. Enough laps around the track and you'll learn how to put the building blocks together into a solution to whatever problem you come up against.

Also, it helps to have someone on your team that's way smarter than you.

likesmart

Exactly. I’m very inexperienced with purchase agreements, but I’m a motherfucking rockstar at things like NDAs and diligence, negotiating NDAs alone against partners at other firms, and running a diligence team with basically zero supervision on multi-billion dollar deals.

Why am I so good at those and yet so trash at purchase agreements? Because I’ve done an absolute fuck ton of diligence, and my firm has a program where we do tons and tons and tons of NDAs starting from year 1, so I’ve done hundreds by now. I was not good at either of those things when I started, now I’m legit awesome at them. It’s just reps reps reps.

Hopefully, as I get more and more reps on deals where I’m deep in the purchase agreement and higher level structuring issues and all that other fun stuff the partners are good at, I’ll become good at those things too. Right now I’m not, but people tell me that the process to get good is the exact same as what I’ve done to get good at those other things already.

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Survivorship bias. You're comparing the associates who succeeded and were elevated with associates, many of whom will transition out of law firms or law completely.

(Also I kinda disagree with the premise. lots of partners aren't that smart)

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Your parenthetical is spot on.

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Survivorship bias. Smarter associates pick up things quicker, last longer and sponge in more information through time / practice / training

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Self initiative and digging in. Also build a solid rapport with those senior to you so you can bounce ideas off of them, but show that you've done some homework first before going in blind. I really appreciate when an associate comes to me and demonstrates that they've done some work to formulate where their questions are coming from and not looking to be spoon fed. It shows me that they have initiative

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A3 and A4 are also spot on

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Bingo

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