In today’s talent war, law firms have turned partner recruiting into a dedicated professional task, often with entire teams controlling a purse of millions of dollars. The average law firm budget for hiring lateral partners is now more than $4 million, and a majority of firms expect lateral hiring to be the primary driver of their growth in 2025, according to a new report.

While it appears more firms than ever are entertaining mergers, 54% of firms believe lateral hiring will be the main engine of growth this year, said the report and survey, by Leopard Solutions. And, as partner pay enters “a whole different world,” firms have stockpiled an average of about $4.17 million for lateral recruiting alone, with the median around $2 million, according to the same study.