Stat Of The Week: The Great Lateralization
As regular Above the Law readers should know, firms have been using raises, varied forms of bonus, and even non-comp-related perks in the fight to compete in a hot lateral associate market.
But just how many laterals have there been?
According to a Thursday ABA Journal report detailing new data from the lateral hiring due diligence company Decipher, it’s a lot.
Through the third quarter of 2021, there were 13,987 associates who changed firms, according to the report. This marks a 51% increase over the previous four-year average for this time period.
As Decipher’s founder and CEO Michael Ellenhorn emailed the publication: “The nature of associate work and their connection to their firms has fundamentally changed, and the market is reflecting this new reality.”
Lateral associate moves increased 51% compared to prior four years, new data shows [ABA Journal]
Jeremy Barker is the director of content marketing for Breaking Media. Feel free to email him with questions or comments and to connect on LinkedIn.
TopicsBiglaw, Bonus News Alerts, Lateral Moves, Stat of the Week
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Originally posted on: https://abovethelaw.com/2022/01/stat-of-the-week-the-great-lateralization/