A common situation we see as legal recruiters is law firm partners looking to make a change for the wrong reasons. You may not expect to hear this from a headhunter but most of the candidates we speak with about moving to a new firm, say they are not satisfied with their present firm. However, when we ask further questions, we usually find that they haven't drilled deeply into their problems or tried to improve what they don't like at their current firm. That seems to be the case even more so now compared to the past few years. There is significant competition for partners right now and they are being wooed with generous offers of compensation and other support to build their practice. However, if you're thinking of a move, before you take the leap, we recommend that you consider the questions discussed in this article and how you may be able to get what you want by influencing your current firm to make changes. If you don't succeed, then you're still better armed with the knowledge of exactly what you want from a new firm.

Why Are Law Firm Partners Changing Firms?

Last year, demand and rates for legal services increased significantly over 2020 and reached new highs compared to the 2010s. Thomson Reuters' third quarter Peer Monitor Index reported that on average, legal demand was up 4.4% over 2020, while rates were up 3.7%. However, some of the good news was negated by rising legal expenses driven largely by high salaries in the war for talent. Many attorneys are taking advantage of the hiring frenzy to move to a new firm or in-house position.