Michael A. Frattone managing partner with Kleinbard.
It’s no secret that lateral movement in law firms has increased over the last five years, with more partners willing to move between competing firms. In fact, the National Association for Law Placement (NALP) reported lateral hiring of associates was up by about 22% in 2018. This momentum is expected to continue—a 2019 survey by Citi, cited by the ABA Journal, noted 61% of firm leaders expect to grow their equity partnerships in the next two years through lateral hires and promotions.
The increase in lateral traffic can be attributed to several environmental and economic factors, and also mirrors the evolution of firms and shifts in the overall legal landscape.
