Lateral Partner Questionnaire (LPQ) Development
Climbing the ranks in a law firm often requires you to develop an LPQ that justifies your salary expectations. The quality of your LPQ is especially important if you’re aiming for a promotion or looking to join a new firm.
To succeed, you’ll need to clearly outline your goals, including the clients you expect to retain, the type of work you’ll handle, and the revenue you anticipate generating. A well-structured LPQ can help persuade a potential employer to invest in you.
If you’re considering a move to a new firm and need assistance with your LPQ, Interlink’s consultants have unmatched experience in the legal industry. We’ll work with you to define your goals, ambitions, and strategies to help turn your vision into reality.
To learn more about how we can support your LPQ development, contact our team of specialists today for a confidential consultation.
Developing aN LPQ
Creating a Lateral Partner Questionnaire (LPQ) is not just an abstract exercise - it’s a critical step in advancing your legal career. Getting it right is essential to achieving your professional goals. We have helped numerous Partners and Senior Attorneys craft LPQs that have successfully positioned them for career growth.
We believe that a strong LPQ designed for transitioning between law firms should include these eight key elements:
- Personal Profile: A summary of your career to date, key accomplishments, financial performance, and current billing rate.
- Target Market Details: A breakdown of the market opportunities you’re pursuing, including potential clients and referral sources.
- Market Understanding: A demonstration of your knowledge of the industry, including key competitors, market trends, challenges, and emerging opportunities.
- Value Proposition: A clear articulation of what you bring to the table and how you plan to deliver results.
- Business Development Plans: Insights into your ongoing and upcoming matters, referral relationships, and expected business volume.
- Cross-Referral Opportunities: An outline of any synergies you’ve identified that could benefit the firm once you join.
- Support Requirements: A description of the resources you’ll need to execute your plan successfully, such as team members you intend to bring along.
- Financial Forecast: A projected revenue outlook for the first three years, along with estimated costs the firm may need to cover and your expected compensation.
How Interlink Talent Solutions Can Help
We follow a structured, well-defined process to ensure that your LPQ includes everything necessary to help you achieve your career goals. Our approach begins with an in-depth analysis of your practice, where we address key questions such as:
- Can you summarize, in just a few sentences, the value you will bring to a new firm?
- Where does your business originate? Is it diversified, or are you dependent on one or two key clients?
- What new clients have you built profitable relationships with?
- What are your billing rates, and will they align with a new firm’s expectations?
- Have your clients generated revenue for other practices within your current firm?
- Would you want to bring key Partners and Associates with you?
- What potential challenges could arise if you were to transition to a new firm?
A thorough analysis of your current practice - especially the portability of your business - will form the foundation of your LPQ and will likely be subject to the most scrutiny. That’s why it’s crucial to present your case with clarity and confidence.
With our strong relationships and direct access to decision-makers at top law firms worldwide, we can also help ensure that your LPQ aligns with your target firm’s strategic objectives.
Why Interlink?
As the preferred legal recruitment agency for Senior Attorneys and Partners globally, you can trust that we have your best interests at heart. Here’s why top legal professionals choose to work with us:
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Extensive Connections
Our strong relationships with law firm decision-makers give us early insights into firm growth strategies - keeping you ahead of the competition.
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Complete confidentiality
We recognize that, after careful consideration, the right opportunity may not always be available. Regardless of the outcome, we operate with the highest level of discretion to protect your current position.
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Personalized Approach
We take the time to understand your motivations, career ambitions, and personal preferences to match you with the right firm and culture. You tell us what you’re looking for, and we’ll ensure you’re positioned for success.
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Unmatched Drive & Dedication
We are deeply committed to helping you secure the right Partner role. With a combination of ambition and sincerity, we work tirelessly to craft an LPQ that positions you as an invaluable investment for your next firm.
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