In a surprising development in law firm world, senior associates are suddenly in high demand — a real change from even a year ago. We all recognize that associates become more valuable as they gain experience and climb law firm ladders, but this is something different. Now senior associates are especially sought after outside their firms as laterals, according to an article in the American Lawyer earlier this week.
Being the subject of lateral hiring changes the game for associates. It puts experienced associates at the heart of the bargaining process like never before. An associate recruiter at Major, Lindsey & Africa, as quoted in the American Lawyer and reported by Above the Law, attributes this market shift to the the lack of training for associates during the pandemic, which has created a need at firms for associates with transferable skills. Firms are desperate for senior associates who can run a deal or a case without much supervision. And it seems that associates with 6 years or more experience are taking advantage of that opportunity.
Here’s the Above the Law article. Check it out and share with your friends. Some of you may want to dust off your resumes and test the lateral market.
It is so nice to be wanted!