Amid the COVID-19 pandemic, law firm managing partners have advocated for the necessity of bringing attorneys back into the office, especially to be able to mentor the next generation of lawyers and protect their firm’s culture. While firms have developed hybrid work models, these leaders are about to find out whether lawyers value their law firm’s culture and mentorship over the ability to remote work.
Legal associate lateral hiring jumped 149% from 2020 to 2021 as law firms compete against each other to recruit and retain the best talent.
Florida has the fourth largest economy in the country and given that there is a lot of legal work coming down the pipe, these next few years are poised to boom due to many factors.
Law firm hiring has fully returned to pre-pandemic levels, and the average compensation has continued an upward trajectory at summer associate programs in New Jersey firms and branch offices.
Law firm associate turnover has hit near-record levels in 2021 in the midst of an explosive amount of corporate demand and lawyer burnout. Also, at the same time, partner attrition has dropped to low levels within firms, according to new figures that suggest that partners may have seen too much client work to focus on looking for a job.
Investment fund practices for Big Law have not seen the decline that has affected mergers and acquisitions this year, with lawyers from top fund law firms saying things are as busy and competitive as ever.
Big Law’s huge fee hikes kicked-off the conversation around cost-effectiveness.
After three years since the onset of coronavirus, law firms have performed well using a hybrid work model for employees.
When law firms discuss adapting to changing business environments, they are often focused on external environments such as the bigger market for legal services and the regulatory landscape as a whole. However, the next time people are back in the office, take a second to stop and look around, and they may also notice the changing shape of tomorrow’s workforce.