Want to get this daily news briefing by email? Here’s the sign-up.


GROWTH WITHOUT EXPANSION -  The Big Law lateral market has been red hot all year. But, as Law.com’s Andrew Maloney reports, lawyer head count still has not spiked dramatically. To the contrary, it’s remained flat, and even decreased in some segments, as the end of Q3 nears. What’s happening? Counterintuitive as that may seem, it’s important to remember that lateral hiring is not a zero-sum game. “If we go and hire 10 partners, it’s very likely we will have lost a similar amount of partners,” said recruiter Scott Yaccarino of Empire Search Partners. “And the winner of the game is going to be the people who add better talent than they’re losing, right? If we’re trying to increase profitability and grow the business, we want to add people who do that going forward, and we’re going to be OK losing people who drag that down.” So while it’s true that Big Law leaders said they wanted to double down on lateral additions in 2021, Yaccarino pointed out that “[w]hat the firms probably never said, or most of them never said, was ‘our goal is to increase head count.’”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]