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So, my hours were extremely low last year (1400 range) and I was obviously told I need to pick my hours up. The thing is that I work in a small team (10 attorneys) and I’ve called, emailed, stopped by offices, etc., for work all last year and rarely got work. My team is essentially all partners.

What should I do this year? I’ve been putting out feelers to see if I can lateral, but I’m in a very specialized practice that most biglaw firms do not do... and I’m not at a point in my career where I can feasibly take a huge pay cut.

Are most members of your practice group based in your office, or are most of them in a different/larger office? If the latter, try transferring to that office. It can be tough to be one of the few members of a practice group based in a different office, especially as a junior. Seniors tend to prefer to give work to juniors in the same office.

Alternately, is it possible to change your practice area? You'll likely have to take a class year hit, but it may be worth it given the limited prospects in your chosen area.