Nick Pappas’ Post

I've been curious about the legal hiring trends over the last 5 years and how the pandemic impacted attorney lateral hiring starting in 2020 and in subsequent years. Here's the story... The chart below shows the number of attorney moves across the country by quarter each year. I included 2019 to see where things were before the pandemic. Understandably, lateral hiring between Q1-Q3 of 2020 took a nosedive with things starting to pick up again in Q4 of that year as candidates and firms were adjusting to the new reality. From the beginning of 2021 to the first half of 2022, we saw a huge hiring spree of lateral attorneys with firms being super busy both in the corporate and litigation practice areas. Then, there was a market correction. It appeared that hiring started to cool down in the second half of 2022 and into 2023 with many firms laying off attorneys (as we heard in the news). As many legal market pundits predicted, 2023 saw lateral hiring rates return closer to the pre-pandemic period. I'm curious to see how 2024 turns out. I'm hopeful that we'll see an upward trajectory. If you're interested in learning more about the lateral hiring market, reach out to me here or at randall.yee@lhh.com. Let's schedule time to talk about your career goals! #lateralhiring #attorneys #lawyers #marketintelligence #careersearch #newjob Team: Tiffany Ambrose, Esq. Meagan McKinstry, Esq. Marisa Agganis Emily Lam, Esq Emily Chamberlin, esq. Data from Firm Prospects

It's a 2 way street. Every now and then, you get a candidate that teaches you a thing or 2! At times, I called him demanding. But damn, he pushed me out of my comfort zone and I'm a better recruiter today than I was before. Litigation boutiques are my specialty in TX. I thought I knew it all. I had placed at almost every lit boutique in Dallas & Houston except Susman, Quinn and Gibbs. My candidate's questions made me dig deep into my client's hiring data, attrition data, and every TX LawBook article under the sun. The questions weren't typical - nothing about hours, comp or in the office mandates. They were well thought out: Do the associates really take depos? How many times did they go to trial last year? The year before? Are the trials in TX or national? Can they guarantee me a trial in the first year? Is it 1 partner going to trial over and over or are multiple attorneys going to trial? If it doesn't work out, what are the real exit opportunities? What are the reputations of these firms in TX? What is the pecking order? Coming from Big Law, what are the resources at ABC lit boutique? What is the percentage of contingency fee work? What are the growth plans at ABC firm? What does partnership look like? What does it mean to be a partner at ABC firm? It was a long relationship. We met every litigation boutique in TX for multiple interviews. We had multiple offers. Unicorn candidate but the hardest placement I've had in a while in terms of time spent. What is worth it? Absolutely! He got the best job for his needs. I now know how many times every boutique went to trial in the last 5 years! Yea, easy placements are great. But it's the hard placements that make us truly great recruiters.

Q1 2024 Lateral Hires Report for California Associates: 657; Partner 223; Counsel 229 Total hires: 1109* As the charts below demonstrate, litigators were the most in-demand lawyers in Q1 followed by labor and employment, corporate, IP, real estate, trusts and estate, and bankruptcy, tax, and insurance. These numbers are an improvement on Q1 2023 and Q4 2023. Additionally, thanks to the data mining by Adam Oliver, we know that firms in California have opened more searches compared to previous quarters, suggesting a bullish trend in lateral hiring for the rest of 2024. Firms are getting busier, especially the corporate groups, and now they’re looking to bring on new talent to address the excess demand. Firms are starting to increase the pace of hiring for top candidates but we are still seeing some firms move at a glacial pace, often losing out to other firms who move faster. If you're looking to make a move this summer, it's a good time to get the process started. To discuss the market, email me (npappas@laterallink.com), DM me, or drop a comment below. #lawyers #lawyers #jobs *Data provided by Leopard Solutions

𝗚𝗹𝗼𝗯𝗮𝗹 𝗛𝗶𝗿𝗶𝗻𝗴 𝗧𝗿𝗲𝗻𝗱𝘀 𝗳𝗼𝗿 𝗔𝗺𝗟𝗮𝘄 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗮𝗻𝗱 𝗣𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: The legal industry rebounded from a difficult 2022 to post gains in virtually every measurable financial and operational metric. Gross revenue was up 6.8% to a new collective all-time high of $139.7 billion in 2023. Revenue per lawyer (RPL) increased by 4.9% to $1.21 million, and profits per lawyer rose by 6.2% to $517,821. 𝗧𝗮𝗹𝗲𝗻𝘁 𝗪𝗮𝗿𝘀: Between 2021 and the end of 2022, Am Law 200 firms hired over 3,600 new partners. Firms like Latham & Watkins, and Kirkland & Ellis have been particularly active in recruiting lateral hires. 𝗚𝗲𝗼𝗴𝗿𝗮𝗽𝗵𝗶𝗰𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: New York, Washington, D.C., and London remained the most active markets for partner hires. However, emerging legal hubs such as Salt Lake City, Nashville, and Austin exceeded 10% of all Am Law 200 partners in each market, indicating growth in these regions. 𝗚𝗲𝗻𝗱𝗲𝗿 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀: Men accounted for seven out of every ten partner hires. Notably, 78% of all women partner hires were made by Am Law 100 firms, demonstrating a potential focus on diversity and inclusion within these top-tier organizations. 𝗢𝗽𝘁𝗶𝗺𝗶𝘀𝗺 𝗶𝗻 𝗟𝗮𝘁𝗲𝗿𝗮𝗹 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲 𝗛𝗶𝗿𝗶𝗻𝗴: While there was a 20% year-over-year decrease in lateral associate hiring by Am Law 200 firms in 2022, there is optimism that this trend will rebound. The legal industry is dynamic and cyclical, and it’s anticipated that firms will ramp up their associate hiring efforts as they continue to fill expertise gaps and ramp up competitive advantages. 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗗𝗲𝗺𝗮𝗻𝗱: A recent Q2 2023 report by Thompson Reuters Law Firm Financial Index (LFFI) revealed a 1.5% demand increase for legal services. For market discussions or interests in lateral moves, direct message or email to cole.evarts@sonderconsultants.com for a confidential conversation. #legalmarket #hiringtrends #legalcareers

"What is the market looking like for hiring right now?" is probably the most common question I get from candidates on a daily basis. While it does change to some degree with the economy of course, my answer always includes the caveat that it really depends on your practice area. Even in economic downturns, there are some practices that thrive. During normal times - hiring is still cyclical. One month corporate attorneys are in demand and the next there are only a few corporate roles but litigation roles are abundant. Moral of the story? Develop an ongoing relationship with a recruiter that knows the market and can keep tabs on your practice area and help you to strike when the iron is hot! Message me or email me at aford@voylegal.com to discuss what's happening in the market for your practice.

Lateral Hiring Insights: November 2023 Recap Surprisingly, lateral hiring in November 2023 held steady, nearly identical to 2022, with 1,570 hires compared to 1,582. Despite a drop from the 2021 frenzy, this figure remained robust. In 2021, there were 2,509 lateral hires. Firm Prospects, LLC provided the data, we use their intelligence to track lateral hires nationally and by city! Breakdown of November 2023 Hires Nationally: Total Hires: 1,570 (National) Partners: 238 Counsel: 192 Associates: 1,010 Other: 130 Practice Areas (Top 5 Nationally): Litigation: 757 Corporate: 155 Labor & Employment: 137 Insurance: 85 Intellectual Property (IP): 82 November 2023 City-Specific Insights (Associates Only):  Houston Associates Law Firm Moves: 45  Dallas Associates Law Firm Moves: 25 Austin Associates Law Firm Moves: 9 As we enter 2024, the legal landscape remains dynamic. Will lateral hiring trends persist, or will new patterns emerge?

📈 Partner Lateral Moves Surge While Associate Moves Lag: Insights from Decipher Investigative Intelligence. The American Lawyer published an article this morning taking a deep dive into lateral movement data comparing Q2 in 2022 and 2023 - here is the summary: 🚀 Partner lateral moves were almost at a historic high in Q2 2023, with 1,265 moves, just 4% below Q2 2022's record. However, associate lateral moves declined by 43% compared to the previous year. Overall lateral moves in the U.S. were down 41% year-to-date, largely due to fewer associate moves. 💼 Litigation, trusts and estates, and labor and employment partners saw the most movement, possibly due to pent-up demand from previous years. Most major legal markets saw a decrease in partner moves, except for some secondary markets like Nashville and Charlotte, which experienced significant growth. 🌐 Secondary markets like San Diego, Charlotte, and Phoenix saw mild growth in associate hiring, but no geographic market showed an increase in lateral associate hiring in Q2 compared to the previous year. 💼 For associates, all practice areas fell short of 2023 hiring levels. However, litigation, labor & employment, real estate, and bankruptcy practices showed slight improvements compared to the six-year average. 📈 There is optimism about the balance of the year, with a potential surge in demand for certain midlevel associates due to the "COVID talent gap." The legal industry on a whole is experiencing shifts in lateral moves as firms reshape their workforce and adapt to changing market demands. #LegalIndustryTrends #LateralMoves 🚀📊

Are “opportunistic” lateral partner hires a smart way for a law firm to grow? While it is safer to expand practices with the firm’s strategic plan in mind, building around strengths, sometimes firms are presented with an attractive opportunistic hire. Don’t get distracted by every shiny new thing that comes your way, however. Firms must be careful when expanding into a new practice area, industry sector, or geographic area if it doesn’t already have some expertise there. Rather than blindly following trends, it should carefully consider whether the move makes sense for the firm’s particular circumstances. There are challenges to predicting future profitability for a new practice area, but the firm must ask: Will premium work become commoditized over time? How will future regulation affect the practice? Are there other barriers to profitability? The target firm also must beware of diluting the firm’s brand by trying to be all things to all people and turning off partners who will leave for perceived better management and profitability. How can a law firm weed out the wheat from the chaff when it comes to a possible opportunistic lateral partner hire? #lawjobs #legaljobs #legalrecruiting #lateralpartner #partnerrecruiting For more insights into job search strategies, the legal industry, and the California legal job market, follow SeltzerFontaine LLC, and connect with me and ring the 🔔 at Valerie Fontaine.

Congratulations to my candidate who accepted an offer to join a boutique firm in their niche practice area!! This candidate has been wanting to make a move from BigLaw to a smaller firm with a lower billable hour requirement for some time now. I was able to source the perfect UNPOSTED role for this candidate! It's a win for the candidate and the firm! Lately I've been working with a number of boutique and mid-sized firms that are GROWING like crazy! If you're in the search for a new role, please consider regional, mid-sized, and boutique firms. These firms can also have sophisticated practices and be leaders in their field. Often the benefits at these firms such as remote work policy or billable hour requirements outpace those offered at BigLaw! Curious? Use my booking link ☝ to schedule time for a confidential conversation, or email me at Barbara.Thompson@lhh.com #legal #recruiter #biglaw #lawjobs #lawfirmjobs #lawfirm #legalrecruiting #lawyers #careeropportunities #attorney #lawyer #biglawjobs #legaljobs #careeropportunities #lateralmove #lateral #interview #offer

Are “opportunistic” lateral partner hires a smart way for a law firm to grow? While it is safer to expand practices with the firm’s strategic plan in mind, building around strengths, sometimes firms are presented with an attractive opportunistic hire. Don’t get distracted by every shiny new thing that comes your way, however. Firms must be careful when expanding into a new practice area, industry sector, or geographic area if it doesn’t already have some expertise there. Rather than blindly following trends, it should carefully consider whether the move makes sense for the firm’s particular circumstances. There are challenges to predicting future profitability for a new practice area, but the firm must ask: Will premium work become commoditized over time? How will future regulation affect the practice? Are there other barriers to profitability? The target firm also must beware of diluting the firm’s brand by trying to be all things to all people and turning off partners who will leave for perceived better management and profitability. How can a law firm weed out the wheat from the chaff when it comes to a possible opportunistic lateral partner hire? #lawjobs #legaljobs #legalrecruiting #lateralpartner #partnerrecruiting For more insights into job search strategies, the legal industry, and the California legal job market, follow SeltzerFontaine LLC, and connect with me and ring the 🔔 at Valerie Fontaine.