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Many law firms achieve growth through one or a combination of methods, including lateral recruiting, new hires, and mergers and combinations. Which growth strategy proves best depends greatly on individual firm goals.
Law firms often turn to lateral hiring as part of their growth strategy, alongside mergers and combinations. Despite the slight dip in the top 200 lateral movements in 2016, attorney lateral hiring has been on an upward trend, increasing by 15% in 2018 and by an additional 3% in 2019 over the previous year.
This paper also provides insights on gender equality at law firms. There is equity in hiring at the associate level (both new and lateral), but a jarring difference at the top.
