Bloomberg Law
Feb. 25, 2021, 10:01 AM

Surging in Big Cities, Lateral Hiring Is a Hunt for Higher Rates

Roy Strom
Roy Strom

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. This week, we look at the cities and practices where lateral hiring is surging, and why. Sign up to receive this column in your inbox on Thursday mornings.

Last week, I wrote about how the richest firms—even Cravath—were doing a lot more lateral hiring early in the year. The surge comes after a year of nearly unprecedented profit growth driven by slashed expenses, hot Wall Street-fueled practices, and partners billing more time in response to panicked clients.

That column caught the ...

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