Making the Move: Key Considerations for Lateral Associates in the Legal Industry

Transitioning from one firm to another as a lateral associate can be a significant career decision. While the idea of new opportunities and a fresh environment may seem exciting, there are numerous factors to consider before making the leap. From understanding firm culture to negotiating compensation packages, lateral associates must weigh various professional and personal aspects to ensure a successful transition.

A key driver for many lateral moves is finding a firm that better aligns with one’s values and career goals. Researching and evaluating the firm’s culture is crucial. Associates should assess whether the firm supports work-life balance, encourages collaboration, and offers mentorship opportunities. Reach out to current or former attorneys to get a sense of the internal dynamics. If diversity and inclusion are priorities, inquire about initiatives and firm-wide commitments.

Joining a new firm as a lateral often involves entering a different practice group or market. Take time to analyze the strength of the firm’s practice areas and its reputation within those sectors. Are they leaders in the field you’re interested in, and do they have a robust client base? Understanding the long-term trajectory of your practice area and the firm’s commitment to growth in that space is essential for your continued career development.

While compensation is a major factor in any lateral move, it’s important to look beyond base salary numbers. Investigate the firm’s bonus structure, profit-sharing opportunities, and other benefits like healthcare, retirement contributions, and parental leave. Keep in mind that the highest salary may not always equate to the best overall package, especially if work expectations are unsustainable or support systems are lacking.

Legal recruiters can be instrumental in facilitating a lateral move, particularly for mid-level associates. A good recruiter will not only match you with firms but also help you negotiate terms and manage the timeline of your departure and transition. It’s important to be clear about your goals and non-negotiables with your recruiter, and they can ensure that firms are aligned with your vision.

Once the decision to move is made, it’s essential to prepare for the transition carefully. This includes notifying your current firm in a professional manner, working with HR to ensure a smooth handover of cases, and ensuring compliance with ethical guidelines regarding client files. It’s also a good idea to network internally at the new firm as early as possible to begin integrating into the team and understanding workflows.

***

For lateral associates, making a strategic move requires a thorough understanding of both the new and current firm environments. By carefully evaluating cultural fit, market position, and compensation, and seeking support from recruiters, associates can navigate the lateral process confidently, ensuring a seamless transition and setting themselves up for long-term success in their new role.