According to the Leopard List, the number of lateral placements has experienced unprecedented growth since 2014. The law firm hiring lateral numbers are as follows: 5625 lateral hires in 2014; 6607 hires in 2015; and by 3rd quarter in 2016 the number had already reached 6741. An updated article put the number at 8,500 lateral moves in the top AmLaw 200 firms for the year 2016. Lateral movement has seen a 20% increase since 2014. By the end of 2016, lateral moves surpassed anything seen in previous years. In fact, according to the Leopard List, lateral hires are outpacing new hires 2 to 1. So what are you waiting for?
A New Year’s resolution for many attorneys is finding a new job in 2017, usually after bonuses are distributed. Bonus distribution is the biggest reason attorneys wait to look to move laterally. Waiting for that bonus could cost you a move in the long run. Firms are aware of the bonus issue holding up applications, and some firms are warming to a sign on bonus that can make you whole or partially whole, helping soften the blow of loss of year-end bonuses. I recently placed an attorney who was waiting for her bonus before accepting an offer, and the firm that wanted her decided to give her a sign on bonus to get her to move quicker. Another reason to look before the year-end bonus is received is if you have already decided you want to move on, sticking around can cost you that dream job or a chance to move to a firm that might actually result in a better financial situation in the future. No doubt it is tricky to reconcile, but it is important to balance the benefit of receiving the bonus with the notion of being penny wise and pound foolish when a great opportunity could be out there. You should never be too busy to invest in your future!
See the following articles for more information:
- When Is the Best Time of Year for Attorneys to Look for New Positions?
- Factors to Consider When Timing Your Job Search
- Top 20 Mistakes Attorneys Make When Choosing to Look for and Accept New Jobs
- Top 10 Reasons Why November and December Are the Best Times of the Year for Attorneys to Look for New Law Firm Positions
- When Should I Start My Job Search If I Am Looking to Move in December?
- How Do I Know If It Is Time to Leave My Current Firm?
- Should I Stay or Should I Go?: A Recruiter Reflects on an Age-Old Question
- When Is the Right Time to Make a Lateral Move?
- When to Move to a New Firm?
- Should I Conduct a Summer Search or Wait for the Fall?
About Harrison Barnes
Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.
With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.
Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.
Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.
One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.
One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.
Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.
In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.
Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.
In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.
About BCG Attorney Search
BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.
Harrison Barnes does a weekly free webinar with live Q&A for attorneys and law students each Wednesday at 10:00 am PST. You can attend anonymously and ask questions about your career, this article, or any other legal career-related topics. You can sign up for the weekly webinar here: Register on Zoom
Harrison also does a weekly free webinar with live Q&A for law firms, companies, and others who hire attorneys each Wednesday at 10:00 am PST. You can sign up for the weekly webinar here: Register on Zoom
You can browse a list of past webinars here: Webinar Replays
You can also listen to Harrison Barnes Podcasts here: Attorney Career Advice Podcasts
You can also read Harrison Barnes' articles and books here: Harrison's Perspectives
Harrison Barnes is the legal profession's mentor and may be the only person in your legal career who will tell you why you are not reaching your full potential and what you really need to do to grow as an attorney--regardless of how much it hurts. If you prefer truth to stagnation, growth to comfort, and actionable ideas instead of fluffy concepts, you and Harrison will get along just fine. If, however, you want to stay where you are, talk about your past successes, and feel comfortable, Harrison is not for you.
Truly great mentors are like parents, doctors, therapists, spiritual figures, and others because in order to help you they need to expose you to pain and expose your weaknesses. But suppose you act on the advice and pain created by a mentor. In that case, you will become better: a better attorney, better employees, a better boss, know where you are going, and appreciate where you have been--you will hopefully also become a happier and better person. As you learn from Harrison, he hopes he will become your mentor.
To read more career and life advice articles visit Harrison's personal blog.