Lateral Hiring Is Becoming So Competitive That Big Law Firms Are Seeking Mergers Instead | The American Lawyer - The American Lawyer
What You Need to Know
- Law firm merger consultants say several large firms are in merger talks.
- The mergers are being driven in part by the tight lateral market and the widening gap among elite firms.
- It still is yet to be seen how active the merger market will be compared to pre-pandemic years.
Consultants are portending a flurry of law firm mergers in 2022, especially among larger firms, as the tight lateral market shows no signs of abating and the elite pull further away from the rest of the pack.
Many firms are currently in merger talks, consultants told Law.com. The interest is driven by a few factors. For one, the incredibly competitive lateral market has significantly reduced the opportunities most firms have for acquiring talent, and many don’t expect that to ease up anytime soon—especially early next year after attorneys are paid out their end-of-year bonuses.
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source: https://www.law.com/americanlawyer/2021/10/28/lateral-hiring-is-becoming-so-competitive-that-big-law-firms-are-seeking-mergers-instead/
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