An exclusive study conducted by The McCormick Group reveals a decrease in the number of Washington, D.C.-based Chambers-rated lawyers that switched firms as lateral moves in 2017.
The study showed that of 961 lawyers rated by Chambers in its D.C. section, 36 (or 3.7 percent) changed firms in 2017. A somewhat higher number (4.3 percent) of Chambers-related attorneys moved in 2016, while 2.6 percent moved in 2015.
Eight of the moves in 2017 were the result of firm mergers. Four lawyers moved from the Media Law boutique Levine Sullivan Koch & Schulz as a result of that firm’s merger with Ballard Spahr, while two partners went from Chadbourne to Norton Rose Fulbright due to that combination. Two other mergers involved one Chambers-rated lawyer: the merger of Ober Kaler with Baker, Donelson Bearman, Caldwell & Berkowitz, and the merger of Kaye Scholer with Arnold & Porter. In 2016, there was only one merger that impacted movement of Chambers-rated lawyers, the merger of Blank Rome and Dickstein Shapiro.
Unlike 2016, where two thirds of the lawyers changing firms (not including merger situations) went to larger firms, a majority of lawyers actually relocated to smaller firms (15 to 13) in 2017. And of the 13 lawyers moving to larger firms, six of them went from one AmLaw 50 firm to another.
Analysis: This study is consistent with the recent American Lawyer lateral report which showed a slight decrease in the number of laterals moving to new firms. However, it’s important to note that firm mergers played a much larger role in 2017 compared to 2016. It’s also significant that the percentage of high-profile Chambers-rated lawyers moving is still relatively small. So even as firms ratchet up strategies to attract groups and high-profile laterals, comparatively less of them are switching firms.
Perhaps the biggest surprise in the survey is the shift towards smaller firms, in light of the better economic performance generally enjoyed by AmLaw 50 firms versus the rest of the market. It may be that the “bigger platform” argument used by larger firms in their lateral hiring strategies is overrated, while the midsize firm focus on flexible billing rates and fewer conflicts is picking up steam.
A note about methodology: this study only included lawyers rated in the D.C. section of the Chambers ratings and did not include D.C.-based lawyers who are rated in the National section. Also, because the exact date of lateral movement is often unclear, the study may have included moves that occurred in January of 2018.
TMG’s Take is a regular e-mail advisory produced by The McCormick Group. The company’s Legal, Government Affairs, and Law Firm Management groups combine the expertise of more than 15 Consultants to help law firms fulfill all of their lawyer and administrative recruiting needs. TMG’s Take covers topics across the spectrum of law firm management, including associate and partner compensation, growth strategies, marketing and business development, operations and facilities management, finance and accounting, professional development, and technology. Please direct all inquiries to Steve Nelson, Managing Principal at (703) 841-1700 or snelson@tmg-dc.com.
