Macfarlanes adds new 'senior solicitor' rank to career track
Macfarlanes has introduced a senior solicitor rank for its up-and-coming lawyers, with associates with at least six years' post-qualification experience eligible to make the grade. The UK top 50 firm's first senior solicitors are set to be promoted next year, with candidates nominated by practice heads. Those associates already involved in activities such as training, mentoring and business development will be among those to be considered first for promotion.
October 25, 2010 at 07:07 AM
2 minute read
Macfarlanes has introduced a senior solicitor rank for its up-and-coming lawyers, with associates with at least six years' post-qualification experience eligible to make the grade.
The UK top 50 firm's first senior solicitors are set to be promoted next year, with candidates nominated by practice heads. Those associates already involved in activities such as training, mentoring and business development will be among those to be considered first for promotion.
However, the firm said the new position will not be linked with additional remuneration and insisted that it will not become a compulsory career step in the route to partnership.
Banking head Julian Howard, who is set to become Macfarlanes' new managing partner on 1 January, said that assistants will be able to leapfrog into the partnership without becoming senior solicitors first. He also ruled out either a higher base salary or additional bonus pool for those taking on the position.
Howard said: "We have been thinking about doing this for some time, acknowledging the more serious role that associates play. The nomination process has just kicked off but there is no fixed deadline."
He added: "We don't envisage this role a requirement before making partner. Given the nature of the role it is likely to be for the better-paid associates anyway, but just because they become a senior solicitor it will not automatically entitle them to an increase in basic salary."
News of the new rank comes after Macfarlanes made up three lawyers to partnership across the last two promotion rounds combined, with pensions lawyer Camilla Barry joining the partnership in 2010 and tax lawyer Damien Crossley and finance lawyer Andrew Perkins promoted in 2009.
During the 2009-10 financial year Macfarlanes saw turnover drop by 2% to £92.4m, while profits per equity partner (PEP) declined by 4.5% from £744,000 to £710,000.
- Related briefing: The path to partnership – how to make partner at your firm (or another)
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