While 2023 witnessed a noticeable decline in associate lateral moves, dropping by 66% in the first quarter compared to the same period in 2022, this shift reflects a more nuanced legal hiring environment rather than a downturn. The legal market is adjusting after the unprecedented activity of the previous years, with total lateral moves still surpassing pre-pandemic levels. Specifically, there were 15,109 lateral moves in the third quarter of 2023, compared to the peaks of 2021 and 2022. This suggests a market adjusting to a new normal, rather than a significant decline.
Certain legal practice areas have demonstrated consistent demand, defying broader market trends. These include labor and employment, data privacy and cybersecurity, restructuring, intellectual property, and litigation. This sustained demand aligns with ongoing economic recovery and changes in legal service needs, presenting promising avenues for lawyers in these specialties.
#legal-industri #lateral-attorney-mov #partner-mov #regional-growth #practice-area #demand #economic-recoveri #specialti
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