Lateral Partner Movement Late in the Year: Legal Intelligencer Interviews Mark Jungers
Lateral activity is booming this year, but will this momentum slow down for the holidays? Legal Intelligencer interviewed Co-Founder Mark Jungers for the article “Lateral Partner Movement Frenzied Late in the Year” to determine the end-of-the-year forecast on lateral movement.
Though some argue that lateral moves will slow down as partners wait for their year-end bonuses, Mark says, “Some firms have started spreading out the year-end bonus payments until as late as April or May of the following year in an effort to deter lateral movement.”
In terms of growth, he says, “firms are focusing largely on corporate practices, and while Texas has cooled off as a lateral market, places like Los Angeles and New York remain hot.” To fuel growth in these areas, “the push for firms to bring in groups rather than one or two lawyers is an increasing focus in lateral hiring.”
Mark adds, “When lateral partners just aren’t enough, ‘merger mania’ is still alive and well with many firms involved in merger discussions.”