Does it seem like way too many associates are switching firms/moving on?
Posted: Mon Apr 05, 2021 8:54 am
Sixth year so I've seen the usual associate movement from year to year, but it feels different this season. Or is it all in my head?
Going to assume “way too many” means “more than in a usual year,” rather than as a judgment on the appropriate volume of laterals.
Yes, I agree there is more lateral movement. I’m guessing it’s a two-sided function of things being very busy right now: that causes both (1) associates to seek greener pastures when they feel they are underwater, and (2) firms to recruit more aggressively and offer large signing bonuses because of the volume of work they need to do. I’ve been around since 2016 and I don’t remember things being as busy as the last 6-8 months before now.
Unfortunately for the associates subject to (1), many of the firms looking to hire are doing so for reason (2) and they’ll be just as busy. But they’ll have a nice bonus and a fresh start, and maybe they escaped a partner that they loathed working for.