Law firm lateral hiring took a nosedive last year, with associates bearing the brunt of the slowdown in demand from corporate clients.
Lateral hiring fell by 35% across all lawyers ranks over the year, according to a new report by the National Association for Law Placement. Associate hires plunged by 43%, while partner moves declined by 10%, NALP found.
The downturn marks the second consecutive year in which law firm recruiting has tightened, following a pandemic era surge in demand. Slowing demand has forced several major law firms to lay off lawyers and staff and scale back recruiting targets.
“The ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.