A surge in client demand and shortage of lawyers to meet it prompted large U.S. firms to roll out multiple bonuses, boost base salaries, and find creative ways to stand out from the competition
. Several legal recruiters and industry experts said they’ve never seen such a fierce war for associate and partner talent, and they expect the red-hot hiring market to carry on well into 2022.
“I don’t see things slowing down at all,” said Kate Reder Sheikh, a recruiter with Major, Lindsey & Africa, noting that law firm partners have told her that deal work continues to flow in while litigation is picking up after a pandemic slowdown. “All the soft indicators we look at are suggesting that the current market will continue.
According to data from Decipher Competitive Intelligence, associate moves between U.S. law firms were up 51% in 2021 over the average from the previous four years. Nearly 14,000 associates had jumped firms by mid-December of this year, up from fewer than 9,300 in 2020. Every major legal market saw double-digit growth in associate moves over the previous four-year average, though Miami, Chicago, New York, and Los Angeles were particularly active, Decipher found. Partner moves were also up 8% nationwide over the previous four-year average.
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