LATIN LAWYER | Year-end partner promotions at LatAm firms fall to pre-pandemic levels

Lexington Consultants contributes in the Latin Lawyer research on year-end partner promotions in Latin America which fell by 33%.

Globally we are seeing a resetting. Margin pressure and rising delivery costs mean much closer scrutiny of partner contribution and profitability. Promotion is becoming more deliberate - moving away from “time served” towards broader, tighter criteria, including the ability to build and sustain key client relationships - not just technical skills.

There’s also a post-Covid correction. Firms expanded their equity partnership ranks for good reasons. Ensuring recently promoted partners are performing is taking time before advancing the next cohort.

Hence, the drop in promotions is less about short-term headwinds and more about recalibration - justified caution and a cyclical reset.

The real challenge now? Managing the promotion pipeline with honesty and openness - clearly explaining what is required in order to become partner and by when. There are excellent candidates. Easy to say - harder in practice!!

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