Keep the champagne on ice

It’s been promotions mayhem this week and the subject has been dominating Lawyer News Daily. Judging by the immense amount of hits these stories are getting, they’ve struck a chord. So, as we head in to the Easter holidays, here’s one more for the road.

Clifford Chance brought forward its announcement, which was expected next week, such was the stampede of acceptances from the firm’s kind offers of partnership.

Normally there’s a few stragglers dilly-dallying over that difficult question: “So, do I really want to be a partner at Clifford Chance?”

Both Clifford Chance and Lovells announced huge crops of promotions, which mirrors the general trend. But is this a kneejerk reaction to the good times?

Just as firms are struggling at certain levels because they failed to recruit enough trainees during the recession, will we see a swathe of partners getting the boot when the market dips? Our guess is a big fat ‘yes’.