M&A activity in 2021 has been remarkable. Records for value and volume, SPACs, IPOs and large deals fall on a monthly basis. While no one thinks this pace will continue in perpetuity, there is some dissonance on the level of drop-off we might see by year's end.

But drop-off or not, firms will continue to race to get mid- and senior-level associates, experts say. 

Earlier this week, the new co-head of Mayer Brown's U.S. M&A practice Martha McGarry said that she feels "momentum is strong" on the deal front, and fully expects the low interest rates of the Federal Reserve to fuel PE activity in the deal space.