Lateral Associate Moves in BigLaw: What’s Really Driving the Shuffle Between Top Am Law Firms?
If it feels like every week another associate is jumping from one Am Law giant to another, you’re not imagining it. After a cooldown in 2022–2023, lateral hiring—especially at the associate level—has roared back, and much of that movement is from one top firm to another rather than to boutiques or in-house.
Here’s a clear look at what’s going on, why associates are moving, and how firms are competing for the same pool of elite talent.
1. The Market Whiplash: From Hiring Freeze to Lateral Rebound
To understand today’s lateral trends, you have to zoom out a few years:
2021: A “talent war” year. Lateral hiring hit historic highs as firms scrambled to keep up with red-hot deal flow.
2022–2023: The brakes slammed on. NALP data shows lateral hiring fell 11.5% in 2022 and then another 35% in 2023, marking the softest market since 2010.
2024: The rebound. NALP’s most recent analysis found that overall lateral hiring increased ~14% in 2024, driven heavily by associates, whose lateral hiring was up nearly 25%—while lateral partner hiring grew only about 2%.
Associates are now the majority of lateral moves: they accounted for about 59% of all lateral hiring in 2024, compared to roughly 23% for partners. In other words: the “BigLaw shuffle” is back—and it’s mainly associates moving between the Am Law 100 and 200.
2. Where Associates Are Moving: Hot Practice Areas
Not every practice is equally busy. Across the Am Law 200, a few areas dominate lateral associate moves:
Private equity & broader corporate/transactions
One report found that corporate/private equity work accounted for roughly a third (34%) of lateral moves in the Am Law 200 in 2024.Firms see these associates as direct revenue drivers when deal flow is healthy.
Laterals are often brought in to deepen sector niches (tech, life sciences, energy, etc.).
Finance & restructuring
As rates and credit conditions remain volatile, firms continue to recruit associates with leveraged finance, structured products, and restructuring experience.Litigation, regulatory & investigations
With enforcement and regulatory scrutiny rising in areas like antitrust, data privacy, and ESG, firms are replenishing benches with litigation and regulatory associates who can plug into big matters quickly.
The overall pattern: top Am Law firms aren’t just hiring laterals broadly—they’re very specifically targeting associates who fit revenue-critical practice groups.
3. Why Associates Are Jumping Between Top Firms
On paper, moving from one Am Law 50 firm to another looks like a lateral in name only. In reality, the differences can be huge. Here’s what’s driving those moves:
a. Platform, Deal Flow & Exit Options
Associates are highly attuned to brand, client base, and work quality:
Some firms offer deeper benches in private equity or specific industries, meaning more complex work, bigger deals, and better exit opportunities (to in-house or funds).
For litigators, the draw might be trial opportunities, marquee matters, or a strong appellate/practice niche.
After the ups and downs of 2021–2023, many associates are optimizing for long-term trajectory, not just short-term comp.
b. Compensation – But With More Nuance
Comp is still a driver, but the story is more subtle than “everyone gets a raise”:
Market data shows that most lateral associates maintain lockstep compensation when they move, with roughly equal numbers taking pay increases and decreases.
Lateral compensation opportunities peak at different seniorities by practice—often years 3–4 for corporate, 4–5 for litigation, and 5–6 for highly specialized practices like tax and regulatory.
What associates care about now is total economic package:
Base + bonus trajectory
Hours expectations and real realization rates
Origination or credit opportunities down the line
Stability of the practice group (no one wants to be overhired and under-utilized again)
c. Hybrid Policies & Geography
Post-pandemic, flexibility is currency—but there are limits:
More than half of firm offices surveyed have policies against hiring fully remote laterals, even as they expand hybrid options.
Associates are moving from stricter, in-office-heavy firms to those with more workable hybrid models—especially parents and those in two-career households.
That said, top Am Law firms still view associates as “in-person talent,” so the trend is toward structured hybrid (e.g., 3 days in office) rather than permanent remote for laterals.
d. Partnership Track & “Day One Partner” Moves
Senior associates are increasingly seeking clarity on partnership—either at their current firm or somewhere else:
Some are attracted by firms experimenting with “day one partner” models, where top senior associates are brought in at partner level to instantly strengthen a team.
Others move to platforms with more transparent promotion criteria, smaller equity partnerships, or stronger mid-market client bases where they can realistically build books of business.
The common theme: laterals are less willing to “wait and see” on partnership at a firm that doesn’t seem committed to their long-term trajectory.
e. Culture, Hours & Sustainability
After the 2021–2023 roller coaster, many associates have a sharper sense of burnout risk. They’re asking:
How sustainable are hours when deals spike?
Is there real staffing support, or will I be the catch-all workhorse?
How does this firm treat associates during downturns—freeze, mass layoffs, or managed transitions?
Moves between top firms are often triggered not by one bad week, but by months of culture signals: attrition patterns, opaque communication, or perceived lack of investment in training and development.
f. Technology & AI Support
The associate experience is also being reshaped by how seriously firms take tech:
Leading firms like Latham & Watkins have launched firm-wide AI academies to train hundreds of associates on tools like Copilot and specialized legal AI, positioning tech as a “generational opportunity” rather than a threat. Business Insider
For lateral candidates, a firm that is investing in AI, automation, and knowledge management is increasingly attractive: it signals future-proofing and a more sustainable model for high-end work.
4. How Top Am Law Firms Are Competing for Lateral Associates
On the firm side, the strategy around lateral associates has become more sophisticated.
a. Highly Targeted, Data-Driven Hiring
Rather than opportunistic hires, many firms are:
Mapping market share by practice and geography.
Using competitive intelligence and platforms that track Am Law 200 lateral flows to identify where rivals are vulnerable.
Focusing on associates who can immediately plug into profitable workstreams instead of hiring broadly and hoping demand follows.
b. Group & Multi-Office Moves
There’s a clear rise in group lateral hiring, especially in practices like corporate, finance, and regulatory:
Firms are more comfortable bringing in groups across multiple jurisdictions, often coordinated virtually. Legal.io
For associates, following partners and senior colleagues as part of a group move offers continuity in mentorship and client work.
c. Pay Packages & Signing Incentives
With competition heating up again:
Top firms are using signing bonuses, guaranteed bonuses, and tailored progression promises to differentiate offers—especially in ultra-competitive practice areas like PE and high-end M&A.
But the days of firms wildly overpaying for any warm body with deal experience (like in 2021) seem to be over; the current market is aggressive but more disciplined.
d. Training & Brand-Building for Associates
Firms know that associates are increasingly mobile, so they’re trying to differentiate with:
Stronger training programs (tech, business skills, sector expertise)
Career-development tracks that acknowledge in-house and government exits, not just partnership
Messaging around “we invest in your long-term career, even if it’s not with us”, which ironically can make associates more likely to stay.
5. What This Means for Lateral Associates Considering a Move
If you’re an associate at a top Am Law firm contemplating a lateral jump to another top shop, the current market is cautiously favorable—but also more strategic.
A few practical implications:
Your practice area matters more than ever.
Hot practices (PE, finance, restructuring, regulatory) will have more options and better leverage on compensation and flexibility.Timing is critical.
Move too early and you may not yet have the deal sheet or case experience to maximize your value; too late and you’re competing with counsel/partner candidates. 2023–2025 comp data suggests optimal lateral windows by class year and practice.Don’t be blinded by headline salary.
Look at:True hours expectations
Hybrid policy (by office, not just firm-wide)
Partner pipeline in your group
Attrition history and lateral integration track record
Evaluate the firm’s tech and AI strategy.
A firm investing in AI and process improvement is more likely to keep work at the right level and preserve associate development instead of hollowing it out.
6. What It Means for Top Am Law Firms
For firms, the new normal in lateral associate recruiting is:
Fewer “panic hires,” more strategic plays.
Greater emphasis on retention and integration—because the market has a long memory for shops that burn through laterals.
Clearer differentiation. Why should an associate choose Firm A over Firm B if both pay Cravath scale and work on billion-dollar deals? Increasingly, the answer lies in:
Culture and sustainability
Transparent evaluation and promotion
Smart use of technology
Real investment in talent, not just rhetoric
Firms that get this right will not only attract lateral associates from peer institutions—they’ll keep them long enough to see meaningful ROI.
Final Takeaway
The current wave of lateral associate moves between top Am Law firms isn’t just churn for churn’s sake. It’s the result of:
A rebounding lateral market after a historic slowdown, with associates leading the way.
Practice-area-driven hiring, especially in corporate, finance, litigation, and regulatory.
Associates making increasingly strategic, data-driven decisions about platform, promotion, and quality of life.
Firms responding with more targeted recruiting, better integration, and evolving hybrid and tech policies.
In short: the BigLaw chessboard is active again—but the moves are smarter, and the stakes for both firms and associates are higher than ever.
