Law firms experienced a shift in hiring trends in 2023, with lateral hiring reaching its lowest level since 2010 and Summer Associate recruiting hitting an 11-year low.
Lateral Hiring for Law Firms at Lowest Level Since 2010
Lateral hiring fell 35% in 2023, marking the second straight year that firms brought on fewer Associates and Partners from competitors. The average number of lawyer laterals was 9.3 — a 42% decline from 15.9 in 2022. Both the median and average number of laterals for 2023 were the lowest since 2010.
The decline in lateral hiring in 2023, coupled with lower Summer Associate recruiting, suggests law firms are projecting lower demand in the coming years and have adjusted their staffing accordingly. The market for lateral Associates was especially weak in 2023, with hires declining nearly 43%, after falling 20% in 2022.
While lateral Associate hiring was down across the board, demand for lateral Partners varied by firm size. Firms with 500 or more lawyers curtailed lateral Partner hires by more than 19%. But lateral Associate hires increased nearly 21% at firms with 250 or fewer lawyers and were up 8% at firms with 250 to 500 lawyers.
Summer Associate Recruiting Hits 11-Year Low
In 2023, securing a BigLaw Summer Associate position became notably more challenging. Offer rates to law students interviewing for these temporary jobs were the lowest since 2012, with firms collectively extending 19% fewer offers than the previous year. The average number of offers extended by law firms dropped from 28 in 2022 to 22 in 2023.
This decline in Summer Associate hiring is likely due to slowing demand from clients and excess capacity from higher-than-normal Summer Associate hiring in 2022. Law firms hosted 1,205 more Summer Associates in 2023 than they did the previous year, and more than 89% of those 7,570 Summer Associates accepted offers to join their firms after graduation.
The competitive Summer Associate recruiting cycle was further compounded by the fact that the class of 2024 was 12% larger than its predecessor, meaning more students were vying for law firm jobs. Each year, large law firms recruit thousands of students heading into their second year of law school for Summer Associate jobs — six- to 14-week positions in the Summer before their third year that typically yield offers for permanent Associate jobs, some with starting salaries of as much as $225,000.
The Future of the Legal Profession
For legal professionals navigating this shift, staying informed and connected to the right opportunities is more important than ever. Whether you are a seasoned attorney considering a move or a law student seeking a Summer Associate role, the challenges of the current market require a strategic approach to career development.
Amidst these changes, our job board serves as a valuable resource for legal talent seeking new opportunities. With comprehensive listings and the ability to search for roles tailored to your expertise and career goals, Legal.io provides a platform for legal professionals to discover positions that align with their aspirations and skills. Whether you're looking for lateral positions, Summer Associate roles, or other legal employment opportunities, Legal.io's job board is an essential tool for staying ahead in a competitive environment.
These trends indicate a significant shift in the law firm hiring landscape. The decrease in both Summer Associate recruiting and lateral hiring suggests that law firms are adjusting their growth strategies in response to changing market conditions. It continues to be crucial for both law firms and aspiring lawyers to remain flexible and adaptable in the face of these changes. By leveraging platforms like Legal.io, you can ensure that you are well-positioned to thrive in the future of the legal profession.
