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 ...