A low-growth market and pressure on rate increases have fostered a lateral hiring boom as firms look to add revenue by acquiring new talent, practices and geographic footholds.
The lateral activity that in years past has been largely consolidated in the first quarter of the year has trickled all the way down to the fourth quarter as several Pennsylvania firms have made significant hires in recent weeks. But many say they expect a brief slowdown for the rest of the year as partners fall back to the traditional notion of waiting to receive their year-end bonuses before switching firms.
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