Chicago has seen a rapid influx of lateral partner additions to Big Law this year. Recruiters and analysts suggest the uptick in demand signals an accelerated lateral activity across the industry according to law.com.
However, partner moves throughout the first two quarters of 2023 are reportedly down compared to the same period last year. Despite this, the numbers remain above the long-term average. Particularly in Chicago, partner lateral moves have witnessed an impressive 83% increase compared to the last six years, as indicated by intelligence firm Decipher. Other US cities like Charlotte and Nashville have similarly experienced soaring growth in lateral partner moves in the past quarter.
The Macrae CEO, Carter Brown, expressed optimism about the future of lateral partner moves, suggesting that the coming year, 2024, might well surpass the level of activity witnessed in 2022 and 2023.