They position the obstacles to that as "the perfect storm." Of course, that means that upward mobility will continue to be blocked for junior members of law firms. Here is the article.
Those obstacles are as familiar to us as the cliché of the "perfect storm. They include:
This can be bad news for both partners who want to stop working and associates who want the income and status of partnership.
Partners may wind up like so many other Baby Boomers and members of Generation X. They will have to struggle to remain employed, on a full-time or semi-retirement basis. If their firm has a mandatory retirement age, then they could pivot to one which doesn't or work at another firm on a contract basis.
As for associates, they might have to figure out the most productive way to play the lateral game or join with others blocked in mobility and open a boutique specializing in a marketable niche.
No surprise, more of my communications assignments in financial services deal with funding retirement. Financial advisors needing marketing communications assistance can contact me, Jane Genova, at email@example.com for a complimentary consultation on their own opportunities and pain points.