Every time a firm cuts pay or does something that associates perceive as crappy, people hop on Above the Law and claim that they will be leaving said firm at the earliest opportunity.
Then other, meaner commenters hop on and say: “Leave? You can’t leave. Nobody is hiring. Mwahahahahahaha.” After reading those comments, presumably the associates who want to leave go home, cry, and take a Xanax.
But when we speak to recruiters, here and there, they report that the lateral market is picking up. According to The Recorder, recruiters expect that things will pick up even more in the New Year:
After a rough 2009 for most firms, partners are busy behind the scenes checking out their options, according to a couple of recruiters we checked in with.
“Anybody who has been waiting to make a move will be ready once they know where the numbers are,” said recruiter Stacy Miller Azcarate. “I have so many people who have said, ‘I’m going to call you in January.'”
Yay?
Who is planning on moving? Details after the jump.
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The Recorder reports that the lateral market will loosen up … for partners:
In 2009, recruiter Avis Caravello said many partners were jockeying to make sure they were paid what they deserved.
“The focus on the compensation, ‘If I don’t get X,’ was really heightened this year, because there’s less to go around,” she said.
“This is a busier time than typical for this time of year,” she said. “Some people definitely know now. They have a pretty good idea of their comp. I wouldn’t want to be a chairman at most firms this year, they are really trying to keep everyone happy and keep everyone in place.”
Oh, to be a Biglaw partner with a portable book of business. It must be nice.
But how are things shaping up for the plebeians who also want to maximize their earning potential? There cannot be an exodus if there is nowhere for the people to go.
We’ve heard rumors that one firm in particular, one firm that conducted significant layoffs early in 2009, has been hitting the lateral associate market very hard.
What have you been hearing? Are there lateral hire announcements sitting in your interoffice mailbox? Let us know, if you work at a good place, there are a lot of talented associates out there who might be interested.
Recruiters Predict Busy Year in Lateral Market [The Recorder]