In 2021 and 2022, BigLaw firms experienced unprecedented lateral hiring activity, driven by a surprisingly robust post-pandemic economy following a period of conservative hiring.

By contrast, 2023 and 2024 were cooler years for lateral activity, particularly in transactional law—the largest practice area. Rising interest rates slowed big transactions, which in turn impacted the demand for lateral associates in this space.

Now, as we look ahead to 2025, what trends can we anticipate?

Litigation and regulatory hiring will continue to be specific and steady.

When litigation and regulatory associates ask me, “Is the lateral hiring market hot or cold?” my response is always the same: “For you, it’s consistent.”

BigLaw’s lateral associate needs in these areas are often specific but steady, and I expect this trend to continue into 2025. Litigation, in particular, faces a perennial supply-and-demand imbalance: More entry-level associates want to be litigators than firms need. This dynamic allows firms to often fill a limited number of litigation vacancies without lateral hires, often by recruiting attorneys from judicial clerkships.

Regulatory hiring, on the other hand, operates differently. Regulatory practices are typically small and highly specialized. As a result, lateral hiring in these areas tends to be driven by very specific needs rather than broader trends.

Corporate hiring will gradually increase.

While corporate hiring is not expected to return to 2021 or 2022 levels, we can anticipate a slow but steady recovery in 2025. Current projections indicate only two or three interest rate cuts this year. For lateral hiring in corporate law to heat up, deal activity—particularly private equity-sponsored M&A—needs to rebound more significantly.

Private M&A thrives when money is cheaper and private equity firms can rely on leveraged finance. This type of deal activity generates substantial work for various transactional lawyers. Early indications for 2025 show a rise in openings for mid-level corporate associates, but a full resurgence in hiring will depend on greater deal market activity.

Mid-level associates will be in highest demand.

The most in-demand experience level for BigLaw lateral associates remains in the 3rd- to 5th-year range. While junior associates were also in high demand during the corporate hiring surge of 2021 and 2022, that trend is unlikely to return in a major way this year.

BigLaw firms continue to hire robust entry-level classes, leaving sufficient coverage for junior-level work. However, as workloads increase across various practice areas, firms will seek mid-level associates with some managerial experience who are still relatively cost-effective compared to senior associates.

Antitrust hiring will grow amid uncertainty.

The regulatory landscape for antitrust law is poised for significant changes, but much remains unclear about the specific impacts on lateral hiring. Will there be increased demand for antitrust regulatory attorneys? Possibly, but it depends on how the new administration reshapes the rules. Will antitrust litigators see fewer cases on behalf of corporations facing federal government scrutiny? Very possibly. And what about transactional advisory work in antitrust? This will largely depend on the resurgence of deal activity.

While growth in this area is likely, the exact nature of the demand will hinge on evolving regulations and economic conditions.

More firms will look for experience illustrated via deal sheets and matter lists.

Increasingly, BigLaw firms value detailed deal sheets and matter lists alongside resumes to assess whether a candidate’s experience aligns with their business needs. Even for junior litigation associates who have only worked on a few cases, providing a matter list can strengthen an application. Internal recruiters and hiring partners appreciate this additional layer of detail, which offers greater clarity about an associate’s expertise. (For more information on deal sheets, matter lists and other key application materials, see here.)

With the recent election concluded, albeit with some remaining uncertainty, one thing is clear: significant shifts are on the horizon at the federal level. For attorneys currently in federal government roles, this period of change might be an ideal opportunity to reassess and possibly transition your career. Whether you’re considering a return to BigLaw or exploring it for the first time, it’s essential to be thoughtful and strategic about the steps you take. Below are some important considerations to help you navigate your next career move:

Connect with a Career Advisor or Recruiter Early

Federal government lawyers often work in highly specialized fields, primarily within litigation or regulatory functions, which may not align directly with all BigLaw roles. The opportunities that best suit your expertise and experience will likely be very specific, so starting with a recruiter can help you focus on the right options. A skilled recruiter can provide honest insights into the current hiring market, explain realistic timelines, and discuss the types of BigLaw roles that might be a fit. This is especially helpful if you’re coming from a public sector environment and are less familiar with the private sector's dynamics. Additionally, a knowledgeable recruiter can discuss potential practice areas or specialties within BigLaw that align with your background and may even help identify alternative paths you may not have considered.

Organize and Update Your Application Materials

When applying for BigLaw roles, especially as an experienced attorney, it’s crucial to have all necessary materials prepared well in advance. These materials include:

• Your Resume: This should be meticulously detailed and targeted, highlighting relevant achievements and experiences that align with BigLaw’s expectations. Tailor it to demonstrate how your government experience translates into valuable skills for a law firm setting.

• Law School Transcript: An unofficial copy of your law school transcript is typically required, as law firms often weigh academic achievements in their evaluations.

• Matters List (if feasible): A matters list is a comprehensive summary of cases and projects you’ve worked on, detailing your role and responsibilities. While this might be challenging to compile based on the nature of your government work, especially with confidentiality restrictions, it’s useful for recruiters and prospective employers if you are able to prepare one.

• Writing Sample: Many firms require a writing sample as a demonstration of your analytical and writing skills. If you don’t have a formal piece of legal writing from your government role that you can share, discuss alternative options with your recruiter. In some cases, firms may accept redacted versions of public documents or other forms of written work that showcase your expertise.

Work Closely with Your Recruiter to Target Specific Roles

Once you have a clear sense of the BigLaw roles that interest you, your recruiter can curate a list of potential opportunities tailored to your skills and experience. Take the time to walk through this list carefully, discussing each opportunity in detail to ensure it aligns with your career goals. It’s crucial to maintain control over where your resume and materials are submitted. Reputable recruiters should not submit your resume or information to firms without your explicit, written consent. This is especially important for government attorneys moving into BigLaw, as you’ll want to ensure that the firms you target are genuinely interested in candidates with your public sector background. A good recruiter will be transparent about which firms are more receptive to such transitions and can provide insights into the types of experiences that appeal to each firm.

Consider a Broader Range of Career Paths

While many recruiters focus primarily on placements in BigLaw due to its established recruiting structure, don’t overlook opportunities in state government, corporate in-house positions, or the nonprofit sector. While large law firms regularly pay recruiters for strong candidates, in-house roles tend to do so less frequently, and state government and non-profit employers rarely engage outside recruiters at all. However, an honest and experienced recruiter or career advisor can guide you in exploring these options if they align with your career goals. Moving into state government or the nonprofit sector can offer rewarding opportunities to continue your public service mission while gaining unique experience, while in-house roles provide direct client-focused work and a different perspective on legal practice.

Plan Your Timeline and Manage Expectations

The transition from a federal government position to BigLaw (or any new sector) requires strategic planning and patience. Understanding the timing of hiring cycles, especially in BigLaw, can make a significant difference in your search. Some firms hire on a rolling basis but may have distinct peak periods or hiring cycles based on practice area needs. Others may hire much less frequently.

Tap Into Your Government Network

As a federal government attorney, you likely have access to a valuable network of colleagues and contacts. Consider leveraging your network to gain insights from peers who have successfully transitioned into private practice or other fields. This can provide you with firsthand perspectives and practical advice that goes beyond what any recruiter can provide. Your network can also open up additional job leads, professional recommendations, and networking opportunities that could prove invaluable.

Understand Your Transferable Skills and Value Proposition

Attorneys in government roles often have strong regulatory, litigation, and analytical skills that can be highly valuable to firms and organizations outside of government. Be prepared to articulate how your specific skills, such as managing complex cases, interpreting regulatory statutes, or drafting formal litigation documents, translate to the private sector. Work with your recruiter to hone this narrative so that prospective employers clearly understand the unique strengths you bring from your government experience.

I was struck this week by an article in the American Lawyer entitled "'More Deals and Larger Deals': Big Law Dealmakers Weigh In on Rate Cut Impact." The author speaks with several BigLaw corporate practice leaders across sub-practices like private credit, private equity, M&A, funds and venture capital. Across the board, the practice leaders said that the recent decision by the Federal Reserve to cut interest rates should have a largely positive impact on all of their respective corporate practice areas. Less expensive money leads to more deal activity in a lot of respects.

So, to borrow a phrase from the article, a trend in declining interest rates means it's only a matter of "when," not "if," lateral corporate associate positions will increase.

This does not mean that you should necessarily wait for this undetermined time to consider making a lateral move as a BigLaw corporate associate.

Here are some things to keep in mind during our current moment for corporate associates:

Corporate associates still have many options right now, especially mid-level associates. If you are a 4th year corporate associate or slightly more senior, then the opportunities are out there for you in the market (see relevant article here). There are always a good number of firms in the major legal markets who lose too many midlevel corporate associates to other firms or in-house jobs. When the increase in lateral corporate associate hiring comes, it will most likely impact more junior-level openings.

If New York City is your destination, consider looking now. When it comes to corporate BigLaw openings, it is hard to underscore just how much bigger the NYC legal market is than any other. New York corporate lawyers have remained busy since the pandemic. Additionally, the other big market for corporate BigLaw, California, is still recovering from events like the Silicon Valley Bank collapse. Add in the sheer number of BigLaw firms doing corporate work in NYC and the opportunities are there if you're thinking about a lateral move.

Firms will still cover lost year-end bonuses for strong candidates. I talk to lots of corporate associates around this time of year who self-select themselves out of looking now. They think it is better to wait until the new year after a possible year-end bonus will be paid. But if you're a strong candidate for a move that successfully gets an offer with a new firm, then it is very possible that the new firm will make arrangements to cover your year-end bonus.

Start working with a recruiter now to develop your materials and strategy, even if a move for you is not until next year. In the article cited above, most of the practice leaders quoted agree that an increase in corporate deal activity due to interest rate cuts will not come right away. It will take time for the market and their clients to adjust. As a result, the accompanying increase in corporate lateral hiring will likely take some time as well. But instead of waiting for an unknown future time where this increase in hiring will come, it makes sense to start talking to a recruiter now. Every person's search is different and perhaps the opportunities that match your goals are already available. If you are in a situation where you are not fitting into the firm culture, where you are not having good opportunities for advancement or where you are not in the location that you want to be, then you may not have the luxury to wait for a move. Additionally, while opportunities are forecasted to increase, this does not mean that every firm will be hiring at the time you are looking to move. It's better to work with a recruiter to assess what is available now that matches your goals. You can always come back to the search in earnest at a later date if need be.

While the prospect of increased deal activity may make future opportunities more abundant, it’s crucial to remember that timing isn’t everything in a lateral move. Firms are already assessing their long-term needs and looking for top talent who can navigate this transition period effectively. In fact, positioning yourself as an associate who is prepared to lead and handle the complexities of a shifting economic landscape could make you a more attractive candidate now, rather than later. Strategic moves are often made not just when the market peaks, but when it’s on the verge of growth.

Even if your last "back to school day" was long ago, chances are you still have that same feeling around Labor Day every year. As a result, now is a natural time for many BigLaw associates to think about their next steps.

There is a wrong assumption that most BigLaw associates make their lateral moves in January or February, after most associates receive their annual bonuses.

But this is not the case.

Historically speaking, the fourth quarter of every year tends to be the busiest for BigLaw lateral activity. This is likely to be particularly true in 2024 as work at large law firms continues to steadily increase and the demand for lateral associate talent picks up.

Here are some tips on how to get "back to the job search" as a BigLaw associate thinking about a lateral move:

• Sharpen Your Pencils (Update Your Resume): Just as students stock up on supplies, make sure your tools are in top shape. Take the time to update your resume, ensuring it reflects your most recent deal/case achievements and responsibilities. Later on, you will work with a recruiter like myself to super-tailor your resume to individual firms. Check out my tips for "super tailoring" your legal resume.

• Review Your Syllabus (Assess Your Career Goals): Every successful student knows that understanding the course syllabus is key to a good semester. Similarly, reassess your career goals and trajectory. Are you on the path you want to be on? What gaps exist between where you are and where you want to be? September is the perfect time to evaluate and adjust your plans. Read over my article "Should I Stay or Should I Go?" on Chambers Associate.

• Meet with Your Teachers (Network with Key Contacts): Just as students benefit from building relationships with their teachers, you should focus on networking. Reconnect with mentors, former colleagues, and recruiters who can provide insights or open doors for your next move. Building these connections can offer guidance and opportunities when you decide to take the leap.

• Join After-School Clubs (Engage in Professional Development): Much like after-school activities that enhance a student's experience, participating in professional development can set you apart. Consider attending conferences, webinars, or law school alumni events to enhance your knowledge and visibility within your field.

• Do Your Homework (Research Potential Firms): A successful lateral move begins with thorough research, akin to a student diligently doing their homework. Work with a recruiter that has your goals in mind to identify firms that align with your values, practice area, and long-term goals. Understand their cultures, their strengths, and how you can add value to their teams. Read my Above the Law article "Leaving BigLaw vs. Changing Your BigLaw."

• Check-In with Your Guidance Counselor (Consult with a Recruiter): Just as students rely on guidance counselors for advice, working with a recruiter can be invaluable in your job search. They can offer insights into the market, provide feedback on your resume, and connect you with opportunities that align with your goals. Read my Above the Law article "Relocating As A BigLaw Lateral Associate: An FAQ."

• Plan for Exams (Prepare for Interviews): Interviews are your final exams in the job search process. Start preparing by reviewing common interview questions, brushing up on your knowledge of potential employers, and practicing your responses. The more prepared you are, the more confident you'll be when the time comes. Take a look at my prep worksheet for legal interviews.

• Stay Flexible with Your Schedule (Keep an Open Mind): Just like a student’s schedule might change with new classes, be open to unexpected opportunities. Sometimes the best career moves are the ones you didn’t initially plan for, so remain flexible and ready to adapt.

September is not just a return to routine; it's an opportunity to recalibrate and set new goals. By applying these "back to school" strategies, you'll be well on your way to making your next lateral move with confidence and clarity.

At this point in 2024, there has been a somewhat constant stream of lateral associate openings for antitrust practices. While most of these openings can be found in the DC and New York markets, some openings are available nationally. I have placed multiple associates into antitrust practices at BigLaw firms.

There are many reasons why antitrust associates might consider a lateral move. For some, the reasons are similar to what you might find for associates in other BigLaw practices - for example, making a geographic move or moving to a firm with great advancement prospects. But when it comes to an antitrust practice, there are also associates that move in order to change the nature of their very specific practice. Maybe they have been specializing in more litigation regulatory work and would like to do more transaction-advisory work in order to have better prospects for corporate in-house positions. Or maybe their current work is very specific and they would like to have a broader, more holistic antitrust practice. Additionally, each antitrust practice has its own work environment, expectations, and opportunities for professional development. Maybe there is a firm that has a stronger mentorship program or a more flexible work from home policy.

Whatever the reason an antitrust associate might consider a lateral move, there are opportunities right now for them to consider. Here's a closer look at some trends I have noticed:

1. Demand for Antitrust Associate Talent is Across Regulatory, Transactional and Litigation Lines. The need for antitrust associates includes those with a specialized regulatory practice (e.g., those with Hart-Scott-Rodino (HSR) filing experience), those who advise on antitrust issues for large transactional matters and those who have experience litigating antitrust issues. The type and breadth of the need will depend on the specific firm and opening. But there are openings out there across these different subspecialties.

2. Most Demand is for Mid-Level Associates. Like lateral associate openings in other BigLaw practices, most antitrust associate openings are for mid-level associates. This means that antitrust associates with 3 to 5 years of experience have the most options available. However, there are also positions for junior associates and more senior roles, depending on the firm's needs and the associate's experience.

3. Opportunities are Concentrated in NY and DC with Some Firms Open to Any Office. Antitrust practices are concentrated in the two largest legal markets in the U.S. - New York City and Washington, DC. Given NY's preeminence for transactional work and DC's focus on litigation and regulatory work, this makes a lot of sense (though antitrust positions out there are not necessarily segmented by market in this way). However, as a result of the increase in remote and national hiring starting in 2020/2021, more firms are open to filling positions such as antitrust associate needs in any of their national offices.

In conclusion, antitrust associates considering a lateral move have a range of opportunities available, especially if they have mid-level experience and are open to working in major legal markets. By carefully considering their career goals and the specific opportunities available, associates can find positions that align with their professional aspirations and personal needs.

The summer is an excellent time to start strategizing and thinking about a lateral move if you're a BigLaw associate, especially given the slower hiring market.

Here are some things you can do as a BigLaw associate over this summer to set you up for a move later in the new year or going into next year:

• Get your materials up to date and in good shape. For a BigLaw lateral submission your recruiter will need an updated resume and a copy of your unofficial law school transcript, and then possibly a representative deals or matters list, a writing sample and unofficial transcripts from your other higher ed institutions. The resume is obviously the most important and you will want to ensure that you are including good amount of detail about your current BigLaw position, especially regarding drafting experience.

• Make sure you are getting more of the work that you enjoy. I talk to lots of BigLaw associates that want to retool to a different BigLaw practice. This is not easy to do. However, to the extent you can obtain exposure to more interesting work at your current job, it will be easier to make a move that helps achieve your lateral goals when it comes to practice. For example, a corporate associate may be only working on M&A deals, but their group has been getting busier with SEC advisory and corporate governance work. To the extent the associate is planning a move to a firm where they can get a broader corporate experience, it will make sense to take on assignments in these busier areas to strengthen their candidacy for corporate generalist openings.

• Consider whether geographic relocation makes sense and when. Maybe you are working in a city that you and your family did not plan on living in forever. If you are thinking about a geographic relocation in the future, there are important steps to take to make this type of move easier. First, what steps do you need to take to get admitted to the bar in the state to which you want to relocate? Can you get admitted via a score transfer? Admission by motion? Or will a new bar exam be necessary. (The National Conference of Bar Examiners has jurisdiction-specific information to answer these questions.) Second, you might need to shift your practice at your current firm or work to get assignments in practice areas that are larger or more popular in your target geographic destination.

• Enhance your professional online presence: Update your LinkedIn profile and other professional social media accounts to reflect your current experience. Make sure to include descriptions about your work product as well as community activities and volunteer work that may be relevant. Start connecting with friends, colleagues and fellow alumni on LinkedIn. Follow the accounts of LinkedIn posters who share updates on opportunities and the market in general.

• Network within your own firm: Take advantage of the summer months to build stronger relationships with partners and associate colleague. Some of the best advice for next steps in your career as a lawyer come from the people with whom you work for and with. With your closer co-workers, express your interest in new opportunities and seek out mentors who can provide guidance and support for your career goals.

• Start talking to recruiters and industry professionals. Even if the timing is not right for a BigLaw lateral move this summer, it makes sense to start having conversations with recruiters and industry professionals. When BigLaw associates who are considering a lateral move reach out to me, I provide tailored and specific advice regarding what they can do to set themselves up for success.

If you or someone you know needs advice on making a lateral move, feel free to schedule a career advising appointment with me at calendly.com/gridline to explore potential opportunities and career pathways tailored to your goals and aspirations.

Lateral moves within the legal industry are common, yet many BigLaw associates mistakenly believe that the 5th to 6th year of practice might be too late to consider a transition. Contrary to this perception, the current legal job market dynamics and evolving firm structures make this an opportune time for associates at these levels to explore new opportunities.

The conventional wisdom has shifted; where once a 5th or 6th year associate might be seen as too senior for a lateral move, firms are increasingly recognizing the unique value and fresh perspectives that seasoned associates can bring. This change is driven in part by a change to the economics for large law firms and the longer runways to advancement that we are seeing (see below).

Moreover, from the associate's perspective, it's easy to assume that after several years at a single firm, there might not be much to gain from moving to another BigLaw firm. However, this perspective overlooks the substantial benefits that a strategic lateral move can offer. Whether it's advancing to a position that aligns better with your career goals, gaining exposure to new industries, or finding a firm with a culture that fosters your leadership style, the opportunities are significant and varied.

1. Optimal Hiring Window: The BigLaw job market currently has a distinct preference for hiring associates who are in their more senior associate stage, specifically around the 5th to 6th year. Large law firms are especially eager to onboard this group due to their developed skill sets and readiness to contribute effectively, making them highly sought after. For associates at this level, opportunities are more plentiful compared to more junior positions, which are less frequently opened at the moment.

2. Advancement Opportunities: As the timeline to reach senior positions such as counsel or partner lengthens within many BigLaw firms, making a lateral move at this stage can provide a more suitable platform to advance your career. A new firm might offer a clearer or more accelerated path toward these senior roles, giving you the necessary runway to develop further and showcase your potential at a new firm that has the business need and growth in your particular practice area.

3. Strategic Industry Alignment: If your current practice limits your exposure to industries where you ultimately wish to work—particularly if you aim to transition in-house—a lateral move can strategically align your expertise with your career goals. By moving to a firm that serves your industry of interest, you enhance your prospects of transitioning to an in-house role within that sector, leveraging relevant experience and industry connections.

4. Geographic Flexibility: For those considering a geographic change, having practiced in your current state for at least 5 years opens new doors. Many states allow attorneys with at least 5 years of admission in their current state to be admitted to the bar via motion rather than sitting for another bar exam.

5. Leadership Development: As you grow in your role, you might find yourself leading more deals and matters. This creates a new and different dynamic for you compared to be a more junior contributory member on a deal or matter. If your current firm does not support or cultivate your leadership skills in a way that you would like, a lateral move can provide a fresh environment where new partners may offer the empowerment or guidance necessary for you to thrive as a leader. This is crucial for personal development and fulfilling your potential within the firm.

Making a lateral move as a more senior associate in a BigLaw firm is not merely about changing workplaces; it's about strategically positioning yourself for the next phase of your career. This move can open up new avenues for advancement, align your practice with your career goals, provide geographic flexibility, and enhance your leadership skills in significant ways.

If you're a 5th or 6th year BigLaw associate thinking about a lateral move, feel free to schedule a career advising appointment with me at calendly.com/gridline to explore potential opportunities and career pathways tailored to your goals and aspirations.

When I speak with BigLaw associates thinking about a lateral firm move, they often don't know what it is like to work with a recruiter. Maybe they have responded to a couple cold calls or messages on specific positions. But it's rare that they've worked with a single legal recruiter on a strategic lateral move or relocation.

It goes without saying, but understanding how to communicate with your legal recruiter is essential.

Clear communication can be the difference between getting a position of interest or getting noting at all.

Here are my essential tips:

1. Start your conversation with a recruiter by telling them about your career and job search goals. I start every interaction with a BigLaw associate considering a lateral move with a 15-30 minute phone or Zoom conversation to discuss job search goals. Why is the associate looking to move? What types of employers are of interest and in what order of priority? What types of practice does the associate have and what are they interested in changing/shifting (if anything)? What are the associate's reputation and compensation goals? What are the geographic bounds? In order to be helpful, it's important to know the scope and boundaries of the associate's search.

2. Make sure the recruiter will be helpful in the type of job search that you want to do. Recruiters cannot assist every BigLaw associate on every move that they are trying to do. Recruiters are paid by employers to fill positions, but employers won't pay to fill every position. Maybe there is not high demand for your practice area at employers. Maybe you are too junior or senior for the openings that exist. Maybe certain qualifications will make it difficult to be successful in a recruiter-supported search. As a recruiter, I'm always up front about when I think I can be helpful and when I cannot. Ensure that the recruiters you speak to are confident in their ability to provide assistance. Ask about their employer connections and specific positions that come to mind. Ask how they plan to be helpful in terms of material preparation and review, mock interviews and offer evaluation and negotiation. If you don't feel a connection with the recruiter, do not move forward with them.

3. Ask the recruiter how they plan to communicate and keep you updated. One common complaint I've heard from candidates working with other recruiters is their lack of responsiveness, often requiring constant follow-ups. This issue can be mitigated by establishing clear expectations with a recruiter before fully engaging with them. Personally, I use various communication methods with candidates such as shared Google Spreadsheets, emails, phone/Zoom calls, and texting to maintain contact. For less urgent updates, I utilize the spreadsheet; for moderately urgent matters, I may choose email, and for immediate responses (like scheduling interviews), I prefer calling or texting. It's important for recruiters to recognize that candidates have busy schedules and to communicate accordingly. However, they should also be prompt in addressing your questions and providing updates since it's your job search at stake.

4. Tell the recruiter about every job, position and employer to which you have already applied, either directly or through another recruiter. A recruiter can only help you with positions to which you have not already submitted. Some candidates mistakenly believe that a recruiter can use their contacts to advance a self-submitted application, but this isn't the case. Employers will consider these types of applications already submitted and they will not compensate the recruiter. It is the same case when another recruiter has already submitted to an employer. It is completely fine to work with multiple recruiters - just make sure you are clear who has submitted what so wires don't get crossed and complicate your candidacy.

5. Approve recruiter submissions on your behalf with specificity. Before you send a resume to a recruiter, make sure to include a note in your email that says something to the effect of "Do not recirculate or submit this resume to any employer without my express and specific permission." Once you talk to a recruiter and provide a resume, they may be operating under the assumption that they can submit on your behalf to any employer, lead or job posting that fits within your career goals. Do not let recruiters do this. Ask them to provide a list of job opportunities and leads (I often do this through a shared Google Spreadsheet that is always accessible to the candidate). Once you provide the above note in your initial email, the recruiter will understand that they will need your written authorization each time they submit your materials. This will ensure you retain control of your job search

6. If communication consistently fails, seek another legal recruiter. Maybe a recruiter submits you for a position or two. You don't hear anything so you follow up. You don't hear back from that for days or weeks. It's time to move on. The recruiter is implicitly telling you that they have heard nothing and they don't have any other positions for you. But another recruiter may have

With the landscape for lateral associate hiring continuing to evolve in 2024, BigLaw firms are demonstrating a slight increase in demand for associates specializing in debt finance, particularly in national legal markets such as Boston, New York, and Washington, D.C. Debt finance is a large and fairly broad legal practice involving attorneys who collaborate with borrowers (companies) and lenders (banks) on intricate loan transactions, ranging from general operational funding to financing large purchase transactions orchestrated by private equity firms.

Here's a closer look at the emerging hiring trends in debt finance:

1. Growing Demand Amidst Shifting M&A Dynamics: As M&A activity remains steady, albeit with a slower pace, there's a noticeable uptick in demand for associates specializing in traditional debt finance roles. While leveraged finance, closely linked with M&A, experiences a slowdown, traditional debt finance practices are hiring more, creating opportunities for midlevel and senior associates in particular with around 3 years of experience or more.

2. Specialized Skill Sets in Demand: Employers are seeking trained finance associate candidates with specific experience tailored to their client needs. Depending on the firm, they might prioritize candidates with experience working with borrowers, lenders, private equity sponsors or a specialized mix of these client types. This demand opens doors for associates looking to shift focus or relocate to firms with diverse client industry focuses.

3. National Market Dynamics: Post-pandemic, a lot of large law firms have "nationalized" some of their key practice areas and will accept good candidates for an in-demand practice area from any city, provided they have an office in that particular location. As a result, BigLaw firms across all the major legal markets in the nation, including Boston, New York, and Washington, D.C., are witnessing this increase in demand for debt finance associates. These markets, known for their vibrant corporate sectors, offer opportunities for professionals adept at navigating complex loan transactions and regulatory frameworks.

4. Career Advancement Prospects: The right BigLaw firm leads to the right exit options when it comes to in-house prospects and other non-firm opportunities. Associates specializing in debt finance can leverage their expertise for future career moves, including transitions to in-house roles within specific industries such as life sciences or technology. Understanding the client industry landscape of your particular BigLaw firm enhances career prospects and opens doors to diverse opportunities.

In conclusion, the increase in demand for debt finance associates in BigLaw firms reflects the evolving dynamics of the lateral hiring in 2024. As firms gear up to meet client needs in an increasingly complex (and somewhat uncertain) financial landscape, opportunities are out there for associates with the right skill sets and industry focus.

If you're an associate specializing in debt finance or considering a transition to this practice area, feel free to schedule a career advising appointment with me at calendly.com/gridline to explore potential opportunities and career pathways tailored to your goals and aspirations.

For BigLaw associates who are lateralling to another firm, a deal list (for transactional-oriented associates) or a matters list (for litigation-oriented associates) is often a good idea. This is a more specific bulleted list of your work experience than you have on your resume; it is intended to provided additional context and depth about your experience.

Just like your resume, your deal list or matters list should be written strategically and tailored to the job application. I have spoken with many candidates who feel lost when it comes to creating this type of list. Common questions include: What exactly should be included? How much detail should I provide? Is it required for junior associates too? If the company or firm does not ask for one explicitly, should I still do it?

Below are some important tips when it comes to creating a deal sheet or matters list:

1. The format should be clean, concise & consistent. Specifically, a) For associates, a single page matter list is more than sufficient; if you don't have enough matters to fill an entire page, then you may not need a matter list at all; b) Make sure to follow a very simple bullet format - this will ensure that the document is properly margined and easy-to-read; c) In terms of font, style, etc., copy the style you used for your resume and/or cover letter; in fact, make sure that you have the same address header at the top of all application documents (note: your application documents will likely be submitted as separate electronic documents; a consistent header makes it easier for the recruiter on the other side to create a complete application packet when they print out materials).

2. Include work that is most relevant to the open position. Your matter or case list will not (and should not) be exhaustive. You should focus the list on matters that are most relevant to the position. In the example above, I included a starting list of patent litigation matters. This sample person may have broader litigation experience that includes copyright, general commercial and other types of litigation. But if she is applying to a patent litigation position, the list should focus on that type of work. Therefore, you might need to have several different versions of your matters list depending on the open position.

3. Start your list with your highest-profile work where you had the most responsibility. The items at the top of your list should be projects that have the most name recognition (i.e., widely known clients like Google or Citibank and/or clients most relevant to the position). But first and foremost, the top of your list should include relevant work where you had the most responsibility. Think of projects where you managed others, wrote independently, worked with clients directly, etc. Whether it's a midlevel or senior position, the hiring team will want to know that you can hit the ground running when you get there.

4. If it's public, always start with the name of the case or deal; if it's not, describe the project in another way. The point of the matter or case list is to provide an easy-to-scan list of the types of work that you have done so far. First and foremost, this should start with the name of your client. Even if it's not a company that is widely known, you want to make it easy for the reader to do a quick Google search to confirm the matter and/or get additional detail. This also makes it easy to ask questions in an interview (i.e., "Tell me a little more about your work in this eTech case.) Some matters are not public or ongoing. In that case, include the details that you are able (see the "Patent ownership dispute" example in the sample above).

5. Be comprehensive about your role and don't worry about repeating key tasks. The point of a matters list is to tie your experience to specific cases and deals. This may mean that you repeat some language about your role under multiple items. This is fine. Just make sure that you are being clear and comprehensive on your role in that particular matter. Plus, there are ways to play with the vocabulary and sentence structure so the list does not look like a "copy & paste" exercise (compare the first two items in the sample above).

Your recruiter should work with you very closely when it comes to the writing and delivery of your matters list or deal sheet. They should help you tailor it for the position and advise on the time of submission. Depending on your experience and the open position, you might attach it to you resume when you apply. Or you they might send it in separately. Or they might suggest that you take one with you to your interview and provide when asked.

If you want to discuss in more detail how to craft a strong matter list or deal list for a lateral move that you are considering, schedule a time to speak with me at calendly.com/gridline.

With the market outlook specifically for M&A activity in 2024 looking strong, BigLaw firms are starting the year by staffing up related practices -- especially areas that are chronically hard to fill.

Executive compensation law -- sometimes called, or inclusive of, employee benefits work or ERISA (Employee Retirement Income Security Act) practice -- is often one of the hardest practices for BigLaw firms to staff. The work requires a strong understanding of tax laws related to employee benefits and compensation. In some ways, it is spin-off of corporate tax practice but BigLaw firms with large and active transactional practices usually keep "exec comp" lawyers separate and in their own space. Many young lawyers that find interest in this type of work end up going into a broader tax practice. This can undersupply a busy exec comp practice and thus the chronic demand right now across multiple firms.

Here is what I'm seeing:

1. A promising M&A landscape for 2024 = a demand for more exec comp associates

Goldman Sachs' M&A Outlook for 2024 provides valuable insights into the strong M&A market outlook for the year. The report highlights a climate of optimism regarding mergers and acquisitions, driven by various factors, including economic recovery, industry consolidation, and opportunities for strategic expansion.

This expected demand directly impacts the demand for specialized legal expertise, particularly in executive compensation, ERISA, and the extensive web of tax, securities, and other relevant laws that surround these matters. As organizations engage in intricate M&A transactions, they seek legal counsel to navigate the intricate legal frameworks and compliance issues involved, underscoring the importance of professionals in this field.

2. The demand is increasing across all of the major legal markets

One notable aspect of this trend is its nationwide reach. Major markets known for their robust transactional practices, such as New York City, Boston, Washington, D.C., and the San Francisco Bay Area, are all witnessing an increase in demand for legal associates specializing in executive compensation and ERISA work. These markets are hubs for Fortune 500 companies, tech giants, financial institutions, and startups, all of which drive M&A activity.

In New York City, the global financial center, Wall Street firms are actively involved in M&A deals, necessitating the expertise of executive compensation and ERISA attorneys with a multifaceted skill set. Boston's thriving biotech and pharmaceutical sectors are fueling significant M&A transactions that require comprehensive legal support. The dynamic regulatory environment of Washington, D.C., adds to the complexity of corporate transactions. In the San Francisco Bay Area, the tech industry's anticipated recovery and growth fuels the demand for legal professionals who can adeptly handle executive compensation and ERISA issues within the tech sector while managing intricate tax and securities law matters.

3. The BigLaw firms are looking for certain types of exec comp associates

The increase in demand for executive compensation and ERISA attorneys is not general though; it's about specific skills and experience that are connected to the legal work that is expected to increase in 2024. Here's a closer look at what's in high demand:

• experience in company representation and compensation disclosure: Firms are seeking associates who can effectively navigate complex compensation disclosure requirements in transactional documents. This experience is critical in ensuring that companies comply with regulatory standards while designing and implementing compensation plans.

• expertise in transactional executive compensation and benefits matters: The ability to handle a wide range of transactional executive compensation and benefits matters is also sought after. This includes advising on tax, securities, and other relevant laws associated with compensation packages, equity-based arrangements, and incentive compensation plans.

• M&A expertise, particularly in private equity: Professionals who can seamlessly integrate executive compensation and employee benefits matters into M&A transactions, especially in the private equity sphere, are more in demand. Their expertise is crucial for structuring deals that align with strategic goals while managing the intricate legal aspects.

*******

In conclusion, the recent increase in demand for legal associates specializing in executive compensation and ERISA work is closely linked to the robust M&A market outlook for 2024. As clients continue to navigate complex M&A transactions in this promising landscape, the need for professionals with specific skills and experience becomes increasingly evident.

If you are an exec comp associate in BigLaw (or even a tax associate open to further specialization as part of your move), you can set up a time to have a career advising appointment with me at calendly.com/gridline.

In my time as a legal recruiter and career advisor, I have spoken with many associates who give notice to their BigLaw firm and when they do so, they hear the following from their main partner or supervisor:

Partner X: "I'm very sorry to see you go. I had no idea you were unhappy here!"

And when the partner says this, they mean it! The departing associate may have gone through mid-year reviews, year-end reviews, late night honest conversations and more - all without giving any indication whatsoever that they were unhappy or considering leaving their firm.

Before you make a decision to simply given notice to your BigLaw firm, consider taking the following 5 steps first:

1. Have an honest, direct conversation about your unhappiness with your mentor/supervisor partner. Law firms prioritize client service over everything else. This can mean that it's difficult to make time to discuss your progress at a law firm, let alone your frustrations and concerns. But at the end of the day, if you're doing good work, a law firm (specifically, an individual partner that likes you) will find a way to keep you. Write down an outline of the concerns you need to address and ask the partner if you can set aside at least 30 minutes to talk them through.

2. Get your work from the people you like. If you are working at a BigLaw firm, chances are you are working in a particular working group with a particular practice area. Within that working group, there must be partners and more senior associates who you like working with better than others. Have candid conversations with those attorneys about getting staffed on their projects and getting more work. Of course it's easier said than done, but generally speaking, if you're making your hours working for and with the people you like, it is much easier to say "no" to the people that you don't wish to work with.

3. Ask for a part-time or flex schedule. Just like that. Just ask. Think of the partner that you work with the most that has the most influence within the firm. Someone who interacts frequently with the firm's management would be great. Say that you enjoy your work, and you want to stay, but this is the piece that you need to change. The worse that they can do is say no. If you are successful in negotiating a flexible schedule, it may not be perfect. You may still have long hours for your "on-days" and may need to switch your schedule around. But this kind of change can still be great for someone who wants to get themselves more runway while they think more strategically about their next steps.

4. Take advantage of the professional development department. The amount of professional development support at large law firms increases every year. New positions like internal career advisors are being added. This is a new type of PD professional who often provides job-related advice on a confidential basis. Even if your firm does not have a position like this, chances are they do have a professional development advisor of some kind. They can help you develop a strategy to make your existing job work better for you.

5. Talk to a recruiter like me! A good recruiter will ask you whether you have done the previous steps and walk you through how to do them. Recruiters would rather have you critically evaluate your current job than have you look at opportunities hurriedly and back out of the job seeking process later down the line. And if it ultimately sounds like a move makes sense at this point, then you have someone that can help.

It's the start of a new year. This is a time when someone naturally thinks about making a change, and that includes BigLaw associates and their careers. But if you've been contemplating a lateral move - to shift your practice or client base, to change your compensation, to relocate geographically, or otherwise - it can take some time to execute a successful lateral move in the world of large law firms.

Time is needed to prepare a for a successful lateral BigLaw move for a number of reasons:

To discuss the state of hiring and your search goals

When it comes to BigLaw lateral opportunities for an associate, the type and quantity very much depend on the associate and what they are looking for next. Candidates often ask whether lateral hiring is "booming" or "slow" and the answer always depends. If you are an associate in a niche practice that is slow and you want to move to a firm doing that same kind of work in the same market, then it is likely that opportunities will be few and far between. On the other hand, if you are in a somewhat busy practice area and have some flexibility regarding the type of work and location, more opportunities may be available.

To time outreach to firms thoughtfully

Once you and your recruiter have aligned your search goals with the market's status, it's crucial to time your outreach to firms carefully. Your recruiter should provide a tailored list of firms that align with your goals. Some firms may have urgent openings where timing is critical, while others may not have immediate openings but could consider a candidate with your background. Your recruiter might also recommend starting the search at a later time when the hiring market for your target position is more active.

To prepare strong materials, especially a tailored resume

Materials required for a lateral move typically include a resume, law school transcript, and a writing sample. While a cover letter may also be necessary, your recruiter might handle contextualizing your interest with their firm contacts. References may be needed later, but a request from your current employer is very rare. The primary focus should be on creating a highly tailored resume that effectively communicates your relevant experience to potential employers. Depending on the target firm, you may need to make slight adjustments to your resume. New firm employers often rely on the resume to learn about candidates, so collaborating closely with your recruiter on this is vital.

To refine your messaging and to prepare for interviews

Regarding lateral interviews, many candidates believe, "I know how to talk about my work. I think I'm all set." However, before making a lateral move, it's essential to approach interviews thoughtfully. Firstly, be clear and consistent about your interest in transitioning to a new firm. Identify what attracts you to the potential new employer and why it's a better fit than your current one. Additionally, be prepared to discuss your experience succinctly yet comprehensively. Your recruiter should work with you to craft compelling narratives about the projects you've worked on and your role in them.

To make sure you are making the right choice

The timeline for many lateral BigLaw candidates is often ASAP!, driven by factors at their current firm. Still, particularly in the context of lateral moves within BigLaw, careful consideration and preparation are essential. While there are differences between large law firms, there are also many similarities. Taking the time to thoroughly evaluate new firms ensures that a potential new employer offers a significant enough departure from your current one.

When it comes to making a lateral move within BigLaw, it's important to work with a recruiter that will take the time to consider your goals and only approach firms that make sense for those goals. You can learn more about my approach to legal recruiting on my website, www.gridlinesearch.com. And if you want to have a free call to discuss your thoughts and plans for a lateral move, you can grab time on my calendar at calendly.com/gridline.

When considering a geographic relocation as a BigLaw associate, the considerations differ based on whether you are a junior associate, midlevel associate, or a more senior associate In this article, I identify some considerations and factors to consider when you are looking to relocate as a BigLaw associate as 3rd year, 4th year or 5th year associate. This information is specific to attorneys seeking to remain in a BigLaw environment.

1. Has your practice experience remained consistent since you started at your firm, or did you rotate through practice areas in your first (and possibly second) year(s)? Some associates, especially at New York City firms can spend the summer and their first or second years rotating through some of the practices at their firm. If this has been the case, it is best not to hide this fact. Be clear about the areas where you have experience and also reflect this in any matter list or deal sheet. This may also impact the types of lateral associate positions you consider. For some openings, you may be better positioned than an associate with continuous experience in one specific practice area; it may mean you are well-suited to more general practice openings at a new firm. On the other hand, if your experience in one practice area has been consistent from the start, it's best to focus on openings in your new target region aligned with that experience. To that end, you will want to consider a detailed matter list or deal sheet that really highlights the depth of your relevant experience.

2. Do you have a transferrable UBE bar exam score OR will you need to take a new bar exam to be admitted in your target location? Your bar exam score transferability is something to identify early with your recruiter; it has a big impact on your search. (The National Conference of Bar Examiners has this information in one place.) If your situation allows for transferring your bar exam score to your target location, indicate this on your resume. If not, consider your willingness to take a new bar exam. Depending on your practice and type of search, it may make sense to take that bar exam before you start your relocation search.

3. Have you worked on many deals and matters OR has your experience been confined to a handful of projects? Again, the level of your experience as a 3rd/4th/5th year associate has a big impact on both your materials and type of search. Certain associates (often finance or funds associates) will have completed a lot of projects in just a couple of years as a junior associate. If this is the case, work with a recruiter to clearly showcase this experience in your materials; this is when a matter or deal list is most useful.. On the other hand, if you worked on only a few matters, ensure that your resume clearly but succinctly demonstrates the breadth of skills and responsibilities you have developed. Also, work with your recruiter to create a list of firms that align with your level and type of responsibility.

4. Are you clear about your reasons for thegeographic move? Before considering a geographic relocation as a 3rd/4th/5th year associate, you need to think through all of the specific personal and professional reasons why you want to move. Make it clear to target firms that you don't intend to leave your current firm after just a few years because BigLaw isn't right for you. Identify what attracts you to the new location and the new firm rather than what is pushing you away.

5. What are your long-term career goals as it relates to this geographic relocation? Maybe you want to move to a new firm and work towards partnership? Maybe you want to use the new firm as a platform for going in-house or a non-BigLaw job opportunity? Identifying your goals will help your recruiter find suitable firms in the new location. As a 3rd/4th/5th year associate, you are still at the start of your legal career and have a lot of paths still open to you. However, the more you know about which paths you want to keep open, the more you can be strategic about your move.

Geographic relocation in BigLaw happens all the time. And moving as 3rd, 4th or 5th year associate is also very common. But you also want to make the move very thoughtfully.

The nature of a BigLaw lateral associate interview is conversational in style and tone. Typically, the interviewer, whether a partner, associate or internal recruiter, will ask you straightforward questions to learn about your experience, your interest in the firm/position and your career goals. Your answers will provoke new questions and the resulting interview should feel more like a talk than an inquisition.

However, some questions that you receive in a lateral associate interview may surprise you. Maybe you have never received them before or did not think they would come up. In the moment, you might be concerned about how to answer properly and completely.

In my experience as a BigLaw career advisor and recruiter, there are some common-enough unexpected questions. Here are some strategies for answering them successfully:

How did you pick your practice / specialty? When you lateral as an associate, you may have been in your practice so long that it might not be easy for you to recall the answer this question. But it's important to be prepared to answer it - employers frequently want to know what connects you to the work and what keeps you motivated in the practice. Ahead of any interview, think back to when you made your practice area choice. Maybe you knew before you went to law school, motivated by a prior work experience or undergraduate class. Or maybe you discovered it later as a summer associate, drawn to the culture and dynamics of a particular working group. Maybe it was something different altogether. In any event, be prepare to answer what motivates you to do the work that you do.

Tell me something about yourself that isn't on your resume. This is really just a "getting to know you" type of question, but when asked, it can feel like it is completely out of left-field. There is no perfect way to answer this question, but you can go in a couple directions. Consider an answer that explains a little about your professional personality - something honest about your soft skills with examples that prove it. Others talk about something outside of work that they are passionate about. Either way, once you have answered, don't be afraid to ask whether this satisfies the interviewer's question or whether they were looking for something else.

Tell me about your most challenging legal project / case / deal. In any lateral associate interview, you can expect that the bulk of questions will be about your legal experience. With this specific question, employers are trying to get at how you personally handle difficult work assignments as a lawyer. Be prepared with a real and specific example of your most challenging project as a lawyer so far. Write up some bullet points summarizing the project. Include specifically what made the project so challenging. Then write up more bullets on how you and your team addressed these challenges, as well as what you learned from the project and how it better prepares you to address similar challenges in the future.

I've heard from my colleagues so much about you already, so I don't have many questions for you; instead, what can I answer for you about the firm? Especially if you have already had a lot of individual interviews with a potential firm employer, this type of question can come up from time to time. You may be caught of guard because you have 30 minutes with this person and it will be up to you to use the time. This is why it is so important to go into interviews prepared with questions for the interviewer that will provoke conversation - How did you decide on this firm? How did you get into this practice? What do you think makes for a successful associate in your group? I saw you work primarily with clients in [X] industry; how did you develop this industry specialty? It's always good to ask questions of your interviewer that will get them talking about their work. These are questions that are easy for them to answer and you will be actively showing them your interest and engagement in the practice in real time.

-------------------------------------------------------------------------------

These are just a few of the "unexpected" questions you may get in a lateral associate interview. Your recruiter should work with you to prepare for the unexpected. Additionally, always de-brief with your recruiter after your interviews, especially if you get unexpected questions. There may be steps you can take through your recruiter or with their advice to address them with the potential employer after the interview.

The summer is an excellent time to start strategizing and thinking about a lateral move if you're a BigLaw associate, especially given the slower hiring market.

Here are some things you can do as a BigLaw associate over this summer to set you up for a move later in the new year or going into 2024:

• Get your materials up to date and in good shape. For a BigLaw lateral submission your recruiter will need an updated resume and a copy of your unofficial law school transcript, and then possibly a representative deals or matters list, a writing sample and unofficial transcripts from your other higher ed institutions. The resume is obviously the most important and you will want to ensure that you are including good amount of detail about your current BigLaw position, especially regarding drafting experience.

• Make sure you are getting more of the work that you enjoy. I talk to lots of BigLaw associates that want to retool to a different BigLaw practice. This is not easy to do. However, to the extent you can obtain exposure to more interesting work at your current job, it will be easier to make a move that helps achieve your lateral goals when it comes to practice. For example, a corporate associate may be only working on M&A deals, but their group has been getting busier with SEC advisory and corporate governance work. To the extent the associate is planning a move to a firm where they can get a broader corporate experience, it will make sense to take on assignments in these busier areas to strengthen their candidacy for corporate generalist openings.

• Consider whether geographic relocation makes sense and when. Maybe you are working in a city that you and your family did not plan on living in forever. If you are thinking about a geographic relocation in the future, there are important steps to take to make this type of move easier. First, what steps do you need to take to get admitted to the bar in the state to which you want to relocate? Can you get admitted via a score transfer? Admission by motion? Or will a new bar exam be necessary. (The National Conference of Bar Examiners has jurisdiction-specific information to answer these questions.) Second, you might need to shift your practice at your current firm or work to get assignments in practice areas that are larger or more popular in your target geographic destination.

• Start talking to recruiters and industry professionals. Even if the timing is not right for a BigLaw lateral move this summer, it makes sense to start having conversations with recruiters and industry professionals. When BigLaw associates who are considering a lateral move reach out to me, I provide tailored and specific advice regarding what they can do to set themselves up for success.

Advising on the formation and function of investment funds is a large and growing practice at BigLaw firms. It take a lot of nuanced and specific legal advice for a private equity firm or other company to set up an investment fund. Additionally, once a fund is set up, companies may require ongoing legal compliance advice for their fund, especially when it's classified as a "registered fund." As a result, funds work is wide, varied and different by firm. The majority of associate position openings fall under the category of "investment funds," but firms can also be looking for "private funds" associates, "registered funds" associate, "fund formation" associates, "fund finance" associates and "Investment Company Act / 40 Act" associates.

Funds attorneys are often busy, even when connected deal practices like M&A or capital markets have slowed. For example, a lot of funds practices are busy now setting up real estate funds (such as REITs or real estate investment trusts).

If you're a funds associate at a BigLaw firm, there are lots of different reasons why you might consider lateralling to a different firm's funds practice. Here are some of them:

1. To change your type of funds practice. In BigLaw funds practices, there are two major types of attorneys: a) those that advise on private funds created for the purpose of a major transaction (like the purchase of a company); and b) those that advise "registered funds" like mutual funds on government regulatory issues. There are considerably more attorneys that work in private funds than registered funds. Therefore, particularly if you are a junior associate that has been working as a registered fund attorney, but want to move into private funds, a lateral move makes a lot of sense.

2. To change the types of funds that you advise. In addition to the different types of funds practice groups, there are also different types of specific funds that attorneys advise on. For private funds practice in particular, you may advise on private equity funds, venture funds, hedge funds or a mix of all of the above. For example, I've talked to several associates that want to focus their funds practice on working with venture funds because this means working more with emerging and start-up companies. But this type of focus is not available in every BigLaw funds practice.

3. To move to a firm with a larger or more reputable funds practice. If a BigLaw firm has a corporate practice, chances are they have at least a few funds lawyers. Yet, because of the nature of some corporate practices, the funds group itself could be quite small. Other firms have large multi-office fund practices that work with some of the biggest and most reputable fund sponsors and investors in the world. Therefore, in order to represent the most sophisticated fund clients or to have really strong advancement opportunities as a funds associate, you may need to make a lateral move.

4. To increase the level of your responsibility at a faster rate. If you're an associate that has worked in private fund formation, there's a good chance that you have been able to be solely or mostly responsible for a particular fund deal early on. Fund formation can be a volume-based legal practice. And once you've worked on a couple fund deals, partners may trust you to work independently one. Others will not. If you're not getting the amount of responsibility that fund associates at other firms are getting, the lateral move makes a lot of sense.

5. To relocate. Fund practices exist in many major markets across the U.S., including markets as varied as New York, San Francisco, Boston, Chicago and DC. Additionally, a lot of funds groups are multi-office and are often open to associates working remotely or very flexibly.

Technology and intellectual property transactions ("tech trans") has been a growing practice area at BigLaw firms for several years. Generally speaking, the practice refers to advising large companies on transactions that involve the purchase, sale and licensing of major intellectual property assets. Depending on the firm, the work can be very broad or very specific. Some firms have "tech trans" lawyers that act as full service corporate attorneys for the firm's technology clients. Other firms have their tech trans lawyers specialize in (sometimes complicated) licensing transactions for clients in industries like tech and life sciences. Many firms are somewhere in-between.

While the practice is growing in strength and numbers, it is still relatively small in terms of headcount compared to practices like private equity M&A and commercial litigation. Nevertheless, often because of this limited supply of associates in this practice, "tech trans" lateral associates are in high demand.

Here are some reasons to consider lateralling as a tech and IP transactions associate:

1. To broaden or narrow the type of work that you do. As already mentioned, tech trans practices can differ greatly from firm to firm. Maybe you are at a firm that has a very broad practice and you find yourself working on all different types of corporate transactions (M&A, capital markets, finance, etc.) for your tech clients. But you'd rather narrow your focus to just licensing transactions in order to help with a strategic in-house move later on. Or, on the other hand, maybe you are working on highly specialized licensing transactions for life sciences client, but you don't enjoy the super-technical nature of the work and want to be a more full service deal lawyer. These are both very common reasons why tech trans associates move.

2. To change the types of clients that you service. Because so many different types of companies have IP interests and assets, tech trans associates can represent clients across industries as varied as life sciences and biotech, software and computing, financial services and more. If you are interested in broadening or widening the types of clients that you service as a tech trans associate (maybe for a strategic in-house move?), then a lateral BigLaw move may make sense.

3. To move to a firm with a larger or more reputable tech trans practice. Because this is such a new practice in the BigLaw world, some firms may not have a very large or reputable tech trans practice. Therefore, in order to represent the most sophisticated client or to have really strong advancement opportunities, you may need to make a lateral BigLaw move.

4. To pivot into the practice from another area (like patent prosecution). While a practice like tech trans is getting larger at many BigLaw firms, a practice like patent prosecution is getting smaller. The process of filing and defending new intellectual property patents is becoming more mechanized and/or moving to smaller firms and boutiques. Tech trans groups like to hire associates with a patent prosecution background as they usually have technical degrees and therefore a sharp understanding of the industries that they serve. I have seen several associates over the years make the move from a dispute-based IP practice to a corporate one.

5. To relocate. Tech trans practices exist in many major markets across the U.S., including markets as varied as New York, San Francisco, Boston, Seattle, Philadelphia and DC. Additionally, given the culture around this type of work and the types of clients, it can be very possible to work remotely in this practice at firms that have national practice and offer this type of flexibility.

6. To set up a very specific in-house move. Tech trans may be the singular most in-demand practice when it comes to in-house attorney hiring by U.S. companies. In fact, tech trans groups often stay small at the large law firms as companies like to have in-house attorneys do a lot of this type of work instead. If you are interested in working for a very specific large company (an Apple, an Amazon, a Meta, etc.), you will be best set up to do so if you move to a firm that does the tech trans work for said company. (When hiring in-house attorneys, companies always look to their outside firm advisors before posting the opening.)

7. To change the types of people with whom you work. Because tech trans work can vary so much across law firms, the types of attorneys that do it can be very different as well. There are attorneys who come from a technical background and have a deeper understanding of the technical side of the work. And then there are others who came from a more traditional liberal arts background and learned the details of the practice on the job. Either way, there may be a tone or approach to the practice that does not fit with your own personality. This is a good reason to consider a move.

One of the benefits of being a BigLaw lateral associate recruiter that also works as a career advisor is that I am able to connect people for honest advice and insights. At the end of the day, there is nobody who knows what it is like to work at a particular firm or with a particular person than a person who has already worked there. They are the only ones who will know what the day-to-day looks like, as well as the nature of the personalities of supervisors and colleagues.

When lateral associates are considering a new firm, they look to the people they meet in the interview process to provide honest advice about their new potential employer. What type of work is actually keeping the group busy? Who are the frequent-flier clients? What is the communication style of the partners? How often are people working late nights and weekends?

But it's not always easy to get honest answers to these questions. Current employees always feel more allegiance to their employer than a candidate they only recently met - even if they are not very happy at the firm.

For this reason, I suggest that lateral associate candidates seek to connect to attorneys that used to work as associates at the potential employer.

How do you identify these types of people and what do you ask?

Start with your recruiter. Your recruiter should want you to get an honest sense of what it is like to work at your potential new firm. If nothing else, they have a financial incentive for this to be the case. You will need to be at your new firm for six months to a year in order for your recruiter to keep their placement fee. As a result, ask your recruiter if they know anyone in their network that used to work at the firm that can provide good insight on the firm. See if the recruiter can make an introduction.

Look deep at your LinkedIn connections. If your recruiter does not have a suggestion for someone who used to work at the firm, take a deep dive into your LinkedIn connections. You can search connections using the "Past Company" filter to see if there is a friend (or a friend of a friend) that used to work at the potential employer. Ideally you would have their email address, so reach out to them that way. But if not, try a LinkedIn message. See if you can get 10-15 minutes of their time by phone to talk about their former employer.

Ask open-ended questions about your potential employer and listen. When you connect, avoid asking leading questions that will result in the person only giving you answers that they think you want to hear. Simply say that you are considering the potential employer for a lateral move and can you ask them some questions about their experience. Ask them what they did at the firm and who they worked with. Ask what was their most favorite part of working there and what was their least. Ask why they ultimately decided to leave the employer. If you ask any follow-up questions to their answers at all, do so only for clarification. Again, you want to avoid leading them towards a certain answer.

Acknowledge when insights into the employer are too personal or non-applicable. While talking to former employees of a potential new employer is certainly helpful, you should not take all the insights provided as gospel. The reasons that a person may have left may be completely specific to them, their personality, their working relationship and/or a very specific point in time. Maybe they worked primarily with people who are no longer at the firm or in a group with which you will have no contact. Additionally, like current employees, former employees may actually feel so positive about their former employer that they paint too rosy of a picture.

Use connections to potentially connect with more people for insight. If you have a good conversation, see if the person has any suggestions for other former employees or other people with whom you should connect for insight into the employer. They may also be helpful with guiding you on the people that still work at the firm and the types of questions that make sense to ask them.

The BigLaw need for finance associates always seems to be high. Firms have a hard time staffing their finance departments because it is frequently an "underselected" practice when associates choose their specialization. But finance should not be overlooked. It is a broad practice that generally refers to attorneys who work with borrowers (companies) and lenders (banks) on large and complicated loan transactions. And finance is ultimately a great practice for going in-house or making partner.

In certain cases, a lateral move to a new (or different) finance practice may be necessary to achieve your long-term career goals.

Here are some reasons to consider lateralling as a finance associate:

1. To change your type of finance practice. The specialties within BigLaw finance practice are endless: general debt finance, leveraged finance for private equity deals, securitization, venture finance, project finance, etc. In the New York City market especially, there are many subspecialties. But not all firms have all specialties. And, for example, after a couple of years in a general debt finance practice, you may realize that you are actually more interested in working on specialized securitization. If your firm does not have this other specialty, a lateral move is very sensible.

2. To change the types of clients that you service. Many finance lawyers represent financial lending institutions, but not all. There are certain finance specialties like project finance or aviation finance that involve working with both lenders and borrowers within a very specific industry. Developing this kind of focus is key when you are interested in making a move in-house to a certain type of company. For example, it will be much more possible to lateral into a solar or renewable energy company if you are working in a project finance group that focuses on cleantech companies.

3. To increase the level of your responsibility at a faster rate. Some finance groups at the large firms are staffed in a similar way to capital markets and M&A groups: big teams working on big deals that have a lot of lawyers at different experience levels. Many associates start at firms like this where they can take time to build their skills and get trained. Other finance groups and teams are staffed more leanly with associates given the ability to run deals on their own very early on. This results in more meaningful client contact which is very helpful for internal advancement or making an in-house move.

4. To change the types of people with whom you work. Because finance practice is so wide and varied, it also draws a wide variety of personality types. There are attorneys who come from a finance or business background and have a deeper understanding of the business side of the work. And then there are others who came from a more traditional liberal arts background and learned the details of the practice on the job. Either way, there may be a tone or approach to the practice that does not fit with your own personality. This is a good reason to consider a move.

5. To relocate. Just like with other practice areas, certain types of finance practice are available in specific locations and not in others. Venture finance and project finance for cleantech companies is largest in the San Francisco Bay Area. Securitization and derivatives finance is particularly big in New York City and not many other major markets.