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Am Law Looks into Lateral Hiring Trend in Law Firms

Am Law Looks into Lateral Hiring Trend in Law Firms

A new Am Law blog post has looked into lateral hiring and what it means for law firms.

Lateral hiring grew by 9.7 percent in 2012, but that is because in a tight legal market, law firms are trying to grow through lateral recruitments. The firms see this as a way to increase revenue by “buying business” through the new hires that bring over new clients. But the more profitable law firms on the Am Law 200 list reported fewer lateral hires.

The same firms analyzed by Am Law were also shedding associates, which according to Robin Sparkman of the Am Law Daily results in overlooking the greater value of building lasting client relationships and law firm leadership over the long term.

Sparkman adds, “Concurrently, if firms managed the current client succession process more carefully, it might lessen the need to bring in so many lateral partners.”

The blog points out that as mandatory retirement policies are abandoned or relaxed for high-profile partners, the message sent to the client is that only a senior partner can do the work.

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University of Michigan Ann Arbor School of Law

University of Michigan Ann Arbor School of Law

The University of Michigan Ann Arbor School of Law or the Michigan School of Law as it is popularly known is one of the oldest law schools of the U.S. and it consistently ranks among the top 10 law schools of the U.S. in rankings published by different sources and organizations. Michigan Law School is considered to have one of the best campuses and collegiate environment among U.S. law schools.

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