As we approach the end of the year and look ahead to 2024, law firms and legal talent alike will be considering what the New Year holds for them. The starting point for all will be the same – what is the lay of the land after the ups and downs of 2023? The answer, however, will not be the same for any two single lawyers or law firms, and neither will it be for any two legal markets they may be operating in.
The lateral hiring market in the U.S. has perhaps been a tale of two halves. Demand for lawyers was significantly down for the first half of 2023 compared to 2022, and especially in the first quarter.