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Congratulations! You made partner! But what kind of partner? Equity or non-equity? And, if non-equity, does that mean you’ll be up for equity partnership in a few years, or is it a dead end? Do you really know your future prospects at the firm? Law firms are increasing their non-equity partnership tier as one way to retain lawyers, but will it, in reality, just make those lawyers more vulnerable to recruiter calls? Read the debate here: https://buff.ly/4ajboyZ What do you think? #nalsc #legalrecruiting #lawjobs #legaljobs #lawpractice

Market In Color | The Gavel Mid-Week Positive Trends in the Legal Market: The 2024 State of the US Legal Market Report by Thomson Reuters highlights that 2023 was a generally positive year for the legal sector. Key metrics such as worked rates, fees worked, and attorney headcount saw increases of 6%, 7.3%, and 3.3% respectively. Additionally, the report points out a growing bifurcation between large and mid-size law firms, with midsize firms aggressively filling their associate ranks and leading the market for demand growth in 2023, growing by an average of 2.4% . #legaltrends

Congratulations! You made partner! But what kind of partner? Equity or non-equity? And, if non-equity, does that mean you’ll be up for equity partnership in a few years, or is it a dead end? Do you really know your future prospects at the firm? Law firms are increasing their non-equity partnership tier as one way to retain lawyers, but will it, in reality, just make those lawyers more vulnerable to recruiter calls? Read the debate here: What do you think? #nalsc #legalrecruiting #lawjobs #legaljobs #lawpractice

Law firms are having to revise their strategies when it comes to competing for top lateral talent. In some cases, this means revising their compensation systems. I spoke with Xiumei Dong from Law360 about this trend. #law360

In a promising turn of events, lateral recruitment at law firms gained momentum in Q2. Recent data from Firm Prospects LLC reveals an upswing in both associate and counsel hires, signaling a robust recovery from the previous quarter’s slowdown. John Cashman shares his predictions with Law360 Pulse. https://bit.ly/3Y5CSon #mlaglobal #lawfirms #legalcommunity #legalcareers

Lateral Moves Monthly is out! Click below and you can add yourself or your firm to the list to receive the #LMM. #lawfirm #legalindustry #lateralhire #lawcareers #onboard #legal #lateralmoves

Issue 2 of Lateral Moves landed in inboxes this morning. Our monthly report, Lateral Moves, creates a summary of lateral moves to over 250 right-size law firms in the U.S. Read Lateral Moves here: https://lnkd.in/eSssncKf Not on the list? Sign up here: https://lnkd.in/erBHVAXx #LawFirm #LegalIndustry #LateralHire #LawCareers #LegalRecruiting

📈 Q2 US Legal Market Update - Forecast for Q3 📈 The US legal sector is forecasted to experience a sustained increase in lateral hiring in Q3, continuing the trend from Q2. Transactional practice areas such as M&A, private equity, and finance are expected to see significant growth. AmLaw50 firms are notably active in this trend and are unlikely to slow down in their hiring efforts. View the full report: https://lnkd.in/eyWMMen2 #USLaw #MarketUpdate #TalentAcquisition

Law firm partners. Are you your own bottleneck? Juggling too many things at once? Burning the candle at both ends? Top associates burning out? What would happen if you lost an associate(s) in your team? Might be time to recruit before this becomes a 𝗿𝗲𝗮𝗹 problem. At Deacon, we specialise in strategically partnering with law firm partners to help find them the right talent. We do it efficiently with a clear strategic plan put in place with partners as to who and how we approach the market. We cover all major common law jurisdictions. Want to partner with recruiters who care? Get in touch to discuss. UK based and reading this? Speak with Gideon Krotosky Harry Austin or Hugo Tang.

It's a simple business principles - if you make a significant investment, you'll want to do everything you can to avoid losing money on that asset. And the most important assets for professional services firms are their most talented and in demand people - especially those who are the highest compensated. I shared my thoughts with Andrew Maloney of The American Lawyer on law firms imposing financial penalties on departing partners. Why do law firms do this? Because they are businesses are applying the leverage that they can to either keep that talent or ensure some of the investment in that talent is recouped when a partner leaves. This isn't new - law firms have long had policies in place that address partner exits -- but firms are more determined in particular to make sure that they haven't celebrated the arrival of high-profile, very well compensated partners only to see them depart without the firm recouping the benefits of those hires. #biglaw #amlaw200 #lawfirms #lawfirmstrategies #businessoflaw #lawfirmtalent #legalindustry #lawfirmcompensation #lawfirmpartner #equitypartner #lawyercoaching #lawyercoach #attorneycompensation #lawyercompensation