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Sometimes it’s not about running from something, but running toward something better. Define what growth looks like for you before you jump.
I just gave my two weeks at my firm and will be starting at my new position in a few weeks.
For me there were multiple reasons.
First, pay was a driving factor. I was at an AmLaw 150 firm that paid significantly under market and I wanted to be paid more. I jumped to an AmLaw 50 firm that paid market.
The other major market was the type of work I was doing and what that meant for my future. I had joined the firm believing I would practice in one area, but instead got pigeonholed into a practice area I didn’t like (insurance defense). I didn’t like the practice area for multiple reasons: (1) meaningless, repetitive case work, (2) bad clients, and (3) very low rates. I started to think hard about my future and realized that if I stayed at my firm, I would be stuck being an ID attorney my whole career. That was a worst case scenario for two reasons: (1) I hated the practice area, and (2) absolutely zero room for future career and salary growth due to the ridiculously low rates for that practice area.
So if you even have an inkling that you may not like the work you do or it may not offer much in the way of career advancement, I think it’s worth considering lateraling.
Also, if you are thinking about lateraling, I would do it by your 5th year (maybe 6th year). The most in demand laterals are 3-5 years. And it becomes exponentially more difficult to move to a firm you want to be at if you wait later.