what is a senior partner in a law firm

1 year ago 48
Nature

A senior partner is a high-level position, usually in a law, accounting, consultancy or financial services firm, thats established as a legal co-owner of the firm. In law firms, partners are primarily those senior lawyers who are responsible for generating the firm's revenue. They are highly ranked positions, traditionally indicating co-ownership of a partnership in which the partners were entitled to a share of the profits. Senior partners are tenured employees with a proven track record who have brought in a lot of profit for the firm. They are responsible for implementing corporate decisions alongside the senior management that would benefit the company's performance to achieve. Senior partners are usually in charge of managing the firm and making important decisions. They handle very important people and are expected to be the best people to win the case. Senior partners are also often the selling point of the firm, meaning that they have already made a name for themselves that the firm can bring in clients using their name. Becoming a partner is considered a significant career milestone.