A Boom in Law Firm Lateral Hiring

Despite all of the gloom and doom engulfing legal careers, there is perhaps a bit of a rainbow shining through the storm. At least, a panel at the recent NALP Conference seemed to suggest as much. The panel, Lateral Hiring in the "New Normal," focused on law firm hiring-specifically of lateral attorneys and alternative staff-and included a discssion on an upward trend for lateral hiring.

Joining in the conversation were the following panelists: Gloria Noh Cannon, Director of Lateral Link; Vanessa Dobsen, Legal Recruiting Manager at Alston & Bird; Michelle Fivel, Managing Director at Major, Lindsey & Africa; and Ari Katz, National Director of Legal Recruiting at Bingham McCutchen. According to Katz, the "economy is improving. We are seeing good trends that legal hiring is back."

What kind of trends are those? One is an uptick in lateral hiring-Noh Cannon described results from a recent NALP survey finding that lateral hiring has increased around 60 percent in 2010. And that number is even higher in New York: 97 percent. Firms layeth off, and firms needeth back when the work picks up, I guess.

But lateral hiring isn't necessarily what it once was-and I'm not talking about the hiring side. Attorneys themselves are wary of jumping ship. "Associate candidates have a very different mentality," said Fivel. Associates have been "afraid to leave a secure position to go to a new place," she explained. Associates believe that if they lateral over and the firm subsequently lays off attorneys, they'll be the first to go as the new kids in the office. But this mentality has slowly been changing, and attorneys have grown more open to lateral moves lately, according to Fivel.

Maybe a look at another trend is a clue for associates considering the market: spring bonuses. "I don't think I've ever seen this happen," said Noh Cannon of the spring bonus phenomenon. The bonuses are "really strong indicator[s] of improving times," she said.

But don't get too excited-we're not out of the hole. Katz noted that "firms are right now hiring fewer attorneys." And some firms are approaching hiring in a completely new way.  To learn more, follow this link to Vault.com.

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