Big Law, the collective name given to firms with dozens, hundreds, and some with thousands of lawyers, is discovering something its clients have known for years: there’s a war for talent.
The traditional career ladder — summer associate to first-year associate to junior partner and, after 20 or so years, full partner — has given way to a dramatic rise in lateral hires and a sharp reduction in the number of entry-level lawyers. The emerging organization looks more like a diamond than a pyramid.
Marvin E. Smith 