Portable business still rules, but firms now weigh client concentration and practice fit as heavily as book size.
Lateral partner hiring remains one of the main ways firms grow revenue. What has changed is how closely firms look at the business behind the number.
Hiring committees now ask for client-by-client histories, realization rates and how many relationships are truly institutional versus personal. Partners who can show a spread of clients across several years move fastest.
Our advice: prepare a clear, honest business plan before your first meeting. It shortens diligence and gives you leverage on guarantees.