Following a hiring frenzy which saw firms onboarding from the bottom up with unrelenting pace and eyewatering salaries, it seems the curve has now peaked. With potential stormy waters on the horizon for law firms, the legal hiring market has been met with some turbulence over the past few months.
Whilst it is no surprise that firms have become a lot more strategic given the volume of hiring last year, the struggle to attract quality talent remains prevalent. Market data shows there were 1,137 lateral moves into AM Law 100 firms in the London market in 2021 and 1,513 lateral moves into the Lawyer Top 50 firms in 2021 across all associate levels and practice groups, accounting for around 17% of the London market.
