Now that many Big Law firms have matched Cravath, Swaine & Moore’s associate pay scale, announced late last month, numerous recruiters and legal industry leaders wonder what the result of inflated associate compensation will be if demand drops off from an unprecedented 2021.

Recruiters and law firm consultants say the current legal talent market continues to be active for associate and partner placements as they relocate upon collecting their bonuses. However, many say there are signs that firms are reining in the freewheeling spending on talent that characterized 2021 recruitment at its height.

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