Thomson Reuters Institute and the Center for Ethics and the Legal Profession at Georgetown University have released the 2022 Report on the State of the Legal Market: A challenging road to recovery. Law firms are throwing a lot of money at the talent problem and it may not be paying off… in fact history suggests that it may destroy some firms. The report underscores the fact that many lawyers value “intangibles more than money” — and yet law firms continue succumb to the compensation “arms race.”
Are you at a “Stay Firm or a “Go” Firm? The report indicates that some law firms may lose almost 25% of their legal talent in a year. Ironically “stay” firms may pay less and have associates that work longer hours. Here is an enlightening chart comparing talent issues at
Continue Reading 2022 Report on The State of the Legal Market – Stop Throwing Money at the Talent War!