But just how many laterals have there been?
According to a Thursday ABA Journal report detailing new data from the lateral hiring due diligence company Decipher, it’s a lot.
Through the third quarter of 2021, there were 13,987 associates who changed firms, according to the report. This marks a 51% increase over the previous four-year average for this time period.
As Decipher’s founder and CEO Michael Ellenhorn emailed the publication: “The nature of associate work and their connection to their firms has fundamentally changed, and the market is reflecting this new reality.”