Credit: lchumpitaz/stock.adobe.com Frenzy in the Lateral Market Obscures Hidden Concerns
Even firms that have been net winners in the current war for associate talent have lost alarming numbers of associates to other firms. Clearly, something deeper is occurring that firms must address.
March 07, 2022 at 08:53 AM
10 minute read
The legal market for lateral talent is at a fever pitch. Six figure signing bonuses for mid- to senior-level associates have become commonplace. Veteran observers of the vicissitudes of the legal market believe it is not sustainable. It is fair to ask what will happen when the pace falls back to earth. Layoffs come with a significant risk of reputational damage for law firms. Yet carrying underutilized associates comes at a significant cost to profits.
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