Want A Big Signing Bonus With Your Biglaw Lateral Move? Not In This Economy...
Is this the beginning of the end for Biglaw's robust search for talent?
The demand for associates no longer exceeds supply. So it only makes sense that firms are not as eager to hire remote attorneys, and offers are not going to have to be as aggressive.
— Summer Eberhard, a recruiter at Major Lindsey & Africa, commenting on the slowdown of the law firm associate hiring market, in an interview with Bloomberg Law. While associates were once able to command large signing bonuses and exclusive perks upon joining a new firm, Eberhard said that she’s had to bring some associates down a peg or two when it came to their expectations. “I haven’t seen a lot of pushback,” she said. “Associates are seeing firsthand in their firms that work has slowed.” Katherine Loanzon, managing director at legal headhunting firm Kinney Recruiting, also spoke to Bloomberg about the lateral hiring scene right now. “The market has taken a complete 180 from last year,” she said.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
