All posts by Lateral Link

Redefining Legal Recruitment with AI: A Sit-Down with CTO Michael Heise

In a detailed exploration of artificial intelligence’s role in transforming legal recruitment, Michael Heise, CTO of haistack.ai, shares groundbreaking insights. His expertise, drawn from leveraging extensive legal data at haistack.ai, illuminates how AI enhances law firm recruitment strategies, improving attorney retention and preemptively protecting firms from profit losses.

Streamlining Recruitment with Advanced AI

Heise emphasizes the transformative impact of AI, stating, “AI is not just a tool for efficiency; it’s a strategic partner that reshapes how we think about recruitment in the legal sector.” This perspective is pivotal for understanding the depth of AI’s role in revolutionizing legal recruitment processes.

The Dual Advantage: Efficiency and Retention

Improving recruitment efficiency and attorney retention are critical for law firms’ success. Heise highlights, “Efficient recruitment and strong retention are two sides of the same coin. With haistack.ai, law firms can significantly reduce the time and resources spent on hiring, while also investing in long-term relationships with their attorneys.”

Accelerating Recruitment and Enhancing Firm Profitability with AI

Reflecting on the significant financial implications of vacant positions within top law firms, Heise articulates the strategic advantage of AI in legal recruitment: “Every unoccupied chair represents more than just an absence; it signifies missed revenue potential and untapped talent. With haistack.ai’s AI-driven platform, we’re not just filling seats; we’re optimizing recruitment processes to safeguard firms from profit losses and unlock their full potential.”

Dive Deeper into the Discussion

For those interested in the full depth of Michael Heise’s discussion on the transformative potential of AI in legal recruitment, including challenges and future directions, the conversation can be further explored in the episode of “Movers, Shakers & Rainmakers.”

Episode 51: Redefining Legal Operations with AI – Michael Heise Unpacks haistack.ai’s Profit-Protection Potential

Michael Heise’s insights underscore the significant benefits of integrating AI into legal recruitment strategies. Law firms looking to leverage these advantages are encouraged to discover more about haistack.ai’s capabilities.

To explore how haistack.ai can streamline your recruitment process and enhance firm profitability, contact Michael Heise at to schedule a demo. This is your opportunity to transform your talent acquisition strategy with the power of AI.

Engaging with a Legal Recruiter: Key Insights to Become a Priority Candidate

Initiating your job search might start with a conversation with a legal recruiter. After all, your inbox is likely filled with messages from recruiters hoping to get you on the phone. This initial conversation will direct the trajectory of your search. While a simple conversation may not seem like an important milestone, the quality of your initial conversation with a recruiter can significantly influence the outcome of your search. This article will describe how you can maximize this crucial interaction to get the best results and also explain how you can position yourself to become a priority candidate.

Understanding Your Motivations and Circumstances
First, legal recruiters want to know why you are job searching or why you may be open to new opportunities. Your motivations for seeking a new opportunity provide much-needed context to your search. Future employers crave this insight to help understand how their firm can best support you and your needs.

To position yourself as a high-priority candidate, explain your pain points at your current firm and describe issues that could be improved with a lateral move or a new firm. Don’t hold back – it helps to be as honest as possible. A skilled legal recruiter will frame your reason in the best light, which will help future employers understand why you are considering a lateral move.

The second reason that understanding your motivations and circumstances is so important is because it allows your recruiter to direct you to a firm that excels in your current pain point. This will ensure that you are matched with a firm that solves your problems resulting in a meaningful career move.

In sum, articulating why you’re looking to make a move and what you wish to improve from your current situation enables us to more accurately identify positions that not only align with your career objectives but also enhance your professional satisfaction.

Timeline Considerations
Timing is everything – especially when it comes to your job search. Life events and professional milestones can greatly impact the timing of your career move. On the personal side, maybe you have a vacation planned or are expecting a baby. On the professional side, perhaps you expect an upcoming bonus payment or maybe you have recently been informed of layoffs. To become a high-priority candidate, share your personal and professional timeline and let your recruiter know when you would ideally like to make a move. Sharing these details ensures that a transition is seamless and timely.

Highlighting Your Achievements
Your skills and accomplishments paint a picture of your professional capabilities. To position yourself as a priority candidate, tell us your achievements and what you are proud of so that we understand how capable and advanced you are. This information is crucial for us to advocate on your behalf effectively and also connect you to opportunities that value your specific skill set.

Rationale Behind Career Moves
Understanding the reasons behind your previous transitions provides valuable context to potential employers. Employers are extremely interested in why you moved from one firm to another. This helps them understand how your moves served to advance your career.

To position yourself as a high-priority candidate, explain the reason behind each transition to your recruiter. This insight helps us better understand your career as a whole and how a new opportunity can complete the picture. If the reasons behind your moves are logical, we are well-positioned to present you as a candidate with a clear, strategic career path, enhancing your attractiveness to prospective firms. If the reasons behind your moves were less strategic, we can help you frame the reasons in a way that paints a logical picture. Sharing this information will help your recruiter tell your story in a way that provides valuable context to your career.

Salary and Compensation Expectations
Don’t be shy about money. It’s an important factor in your job search and may be one of the driving forces in your search. An open dialogue about your compensation expectation is essential for matching you with appropriate opportunities. It also ensures that the roles we focus on align with your professional worth and financial goals. To position yourself as a priority candidate, share your target salary with your recruiter. An informed recruiter will explain whether your target is appropriate for the market.

Your Academic Credentials
Your educational background and significant academic achievements are key factors in the recruitment process. Law firms care about your law school GPA and class rank. This often times holds true regardless of how long ago you graduated from law school. To position yourself as a priority candidate, know your GPA and class rank. This academic information guides us to opportunities where your specific qualifications are valued and respected.

Who You Are Beyond the Resume
Now that we’ve spoken about your motivations, circumstances, timelines, achievements, career moves, salary expectations, and academic credentials, we want to experience your personality and understand who you are outside of the office. Getting to know you on a personal level enables us to find a firm culture that fits you and career aspirations. This holistic approach to recruitment is central to ensuring not just a job placement, but a fulfilling career move.

At Lateral Link, our mission is to facilitate meaningful career transitions by leveraging our industry insight, extensive network, and a personalized approach to recruitment. By partnering with us, you gain an advocate dedicated to positioning you for success in the dynamic legal landscape.

For a tailored consultation and to take the next step in your legal career, reach out to Christine Berger at .

Revolutionizing Legal Talent Acquisition with AI: The haistack.ai Advantage

Gone are the days when legal recruitment was bogged down by inefficiency and bias. Enter haistack.ai: a beacon of innovation that leverages artificial intelligence to redefine how law firms identify and engage with top legal talent. This platform, powered by the latest in AI technology, complements traditional methods by offering unparalleled precision and speed, enhancing the capabilities of human recruiters and setting a new standard in legal recruitment efficiency.

A New Era of Recruitment: Efficiency Meets Accuracy

The traditional landscape of legal recruitment, characterized by manual sorting and inherent biases, is undergoing a profound transformation. AI technologies, particularly those specialized in recruitment, are setting new standards for identifying candidates. These advanced algorithms are not just tools but game-changers, capable of analyzing vast datasets to find the perfect match between law firms and potential hires.

haistack.ai leads this charge by leveraging its unique, data-driven approach. Thanks to its parent company, Lateral Link’s, deep industry insights, haistack.ai is not just another recruitment tool but a revolutionary platform that ensures optimal alignment between candidates and law firms, thus streamlining the recruitment pipeline like never before.

The haistack.ai Methodology: Intelligence in Action

At the core of haistack.ai‘s success is its methodical, four-step process that harnesses the power of AI at every turn. Starting with an extensive data collection phase, the platform compiles an unmatched database of attorney profiles, firm requirements, and open positions, laying the groundwork for a comprehensive recruitment network.

The real magic happens when haistack.ai applies its advanced algorithms during the data analysis phase. By uncovering deep connections between potential hires and firms, it facilitates targeted communications and strategic connections that were previously unimaginable.

What sets haistack.ai apart is its reliance on machine learning technologies. These aren’t your standard matching algorithms; they’re dynamic, learning from each placement to refine and enhance future recommendations. This continuous improvement cycle ensures that haistack.ai remains at the forefront of recruitment technology, delivering unmatched accuracy in candidate selection.

In its final phase, haistack.ai doesn’t just list candidates; it provides a detailed justification for each recommendation, backed by solid data analysis. This transparency and insight into the decision-making process add an extra layer of trust and reliability to its services.

Embracing the Future with haistack.ai

As haistack.ai demonstrates, the future of legal recruitment lies in embracing AI’s potential to transform traditional practices. This platform exemplifies the shift towards a more efficient, accurate, and unbiased recruitment process, setting a new standard for how law firms approach talent acquisition.

By integrating haistack.ai into their recruitment strategy, law firms can not only expedite the hiring process but also ensure they are connecting with the most compatible candidates. It’s an invitation to be at the forefront of recruitment innovation, where data-driven decisions lead to better hires and a more dynamic legal workforce.

Are you ready to experience the unparalleled efficiency and precision that haistack.ai brings to legal recruitment? Why wait to transform your talent acquisition strategy? Contact us today to schedule your demo and see firsthand how our AI-driven platform can revolutionize your recruitment process.

Burford Capital Seeks Director of Case Management in Exclusive Engagement with Lateral Link

Burford Capital, the global leader in commercial finance for the legal sector, has exclusively partnered with Lateral Link to appoint a new Director of Case Management. This strategic position, based in New York or Chicago with potential for remote work, offers an unparalleled opportunity for litigation professionals seeking to steer complex litigation cases valued over $7 billion.

The role is designed for individuals who have demonstrated significant expertise in litigation, ideally serving as heads of litigation in large enterprises, and who have a track record in managing claimant-side cases. The ideal candidate will possess not only superior communication and interpersonal skills but also a profound ability to organize and navigate the intricate demands of large litigation portfolios.

Burford Capital is renowned for its commitment to optimizing the value of legal assets, offering robust support to law firms and corporations globally. With a history of working alongside the majority of the AmLaw 100 and Global 100 law firms since its inception in 2009, Burford’s dynamic team has expanded to over 170 professionals, including more than 70 lawyers, blending the resources of a large organization with the agility and creativity of a startup.

The chosen Director of Case Management will play a critical role in managing Burford’s extensive case portfolio, ensuring strategic engagement, supervising budgets, and spearheading efforts to enhance efficiency. This position calls for a collaborative spirit to work alongside business leaders and stakeholders, aiming for seamless integration of business processes and fostering strong relationships across the organization.

Burford offers a competitive compensation package, inclusive of a base salary, discretionary bonus, carried interest in litigation outcomes, and annual stock grants. The role reports directly to the Chief Investment Officer, highlighting its significance in Burford’s mission to maintain its global impact in the legal finance sector.

Applicants interested in contributing to Burford Capital’s legacy and engaging in high-stakes litigation management are encouraged to reach out to Amy Langan at for a confidential discussion about this exclusive opportunity. Additionally, for those who prefer, the option to apply directly through our LinkedIn posting of the job is also available, providing a seamless way to express interest in this pivotal role.

Burford Capital is dedicated to fostering a diverse and inclusive work environment, welcoming applicants from all backgrounds. This commitment is reflected in its competitive healthcare benefits, 401k matching program, and an ‘always on’ culture that thrives on rigorous thinking, clear communication, and efficient execution.

For legal professionals poised to take on the challenge of directing complex litigation at a global scale, this role offers a unique chance to shape the future of legal finance with Burford Capital, a pioneer and leader in the field. Interested candidates are encouraged to reach out to Amy Langan at or apply directly through our LinkedIn posting, joining a team that is at the forefront of transforming the legal finance industry.

The Strategic Lateral Move: A Guide for Attorneys Contemplating Change

As attorneys progress through their careers, the decision to make a lateral move to a new role becomes an increasingly relevant consideration. Most attorneys lateral at least once in the first seven years of their practice, often due to the realization that the fit envisioned during law school’s On-Campus Interviewing (OCI) process doesn’t fully align with their long-term career aspirations or firm preferences. This journey leads us to ask ourselves whether this is the year to make a change.

Timing and Marketability: The Optimal Window for Lateral Moves

It’s observed that the majority of lateral moves to firms happen between an attorney’s 2nd and 5th year of practice. This period is the ‘sweet spot’ where attorneys possess the right mix of expertise and adaptability, without being too senior, thus maximizing marketability. However, as one moves past the 5th-year mark, opportunities start to thin out due to growing seniority. Given this, the magic time to move is between an associate’s 2nd and 5th year of practice, where the number of opportunities peaks.

Mentoring and Training: The Cornerstones of Professional Development

In the current working environment where in-office time differs from firm to firm, the level of mentoring and training varies significantly across firms. The ability to interact with other lawyers in the office can significantly impact one’s long-term development, particularly for junior attorneys. The availability and quality of mentorship and training depend on factors like formal programs, partner availability, and the presence of a supportive associate team.

Practice Area Fit: Broadening or Narrowing Your Expertise

Many attorneys face challenges in picking the “perfect” practice area, often making this decision in law school without sufficient information. When a practice isn’t the right fit, it is worth considering a lateral move to look at roles that broaden or narrow their current practice or potentially transition practices altogether. Transitioning practices can be difficult, especially in a down market, but firms sometimes retool associates with closely related experience. Regardless of the pivot you are looking for, it is ideal to make this move sooner rather than later as it becomes increasingly difficult with seniority.

Partnership Prospects: Assessing Your Current Firm’s Pathway

The journey to partnership varies across firms. It’s crucial to assess if your firm provides a clear and supportive path to partnership, including opportunities to lead cases/deals, formal business development training, client exposure, and mentorship. The promotion criteria and the firm’s culture around partnership, which includes historical data, are also important factors to consider. Even more important, if you have been passed over more than once despite assurances, it is time to consider a move.

Firm Brand and Client Targeting

The brand of your firm plays a significant role in your ability to target and secure clients. Consider whether your firm is one of the go-to firms for your practice, as this can impact how successful you can be at building a book. It is also important to evaluate if your practice requires lower billing rates. Ensuring your firm’s brand and rate structures support your client acquisition and practice-building goals is vital to your long-term success in building a practice for yourself. 

Transition to In-House Roles: Firm’s Track Record

If transitioning in-house is a goal, evaluate your firm’s track record in facilitating such moves. Firms that see the long-term advantage in having attorneys go in-house often have strong practices in relevant industries, a robust alumni network, and actively market their support for in-house transitions. It is also important to look at how many attorneys from your firm have gone in-house. There are some firms that are a better springboard to in-house roles.

Cultural Fit and Work-Life Balance

Cultural fit is the biggest driver for associates to move. It encompasses aspects like group dynamics, office location, work hours, and mentorship availability. Associates often face a conflict between personal career needs and loyalty to their firm. Sometimes, proactive efforts can bring change, but often, a lateral move is necessary for better alignment with personal and professional goals.

Relocation as a Career Strategy

Many attorneys plan to relocate for personal or professional reasons, such as family proximity, industry opportunities, work-life balance, or community environment. Relocation allows reassessment of current roles and exploration of options that better align with long-term goals.

Making a lateral move can be daunting for attorneys, especially when they are “mostly” happy. That said, it’s important to continually assess your career against your long-term goals and job satisfaction. Ultimately, the decision to make a lateral move should be guided by a careful evaluation of your current position and how well it aligns with your professional and personal aspirations.

Government Attorneys: Strategies to Elevate Your BigLaw Prospects

Government attorneys are in demand, and several prominent law firms have recently hired former government attorneys. If you are a government attorney considering a transition to the private sector, understanding how to leverage your background to strengthen your candidacy is crucial. Here are a few tips to strengthen your BigLaw prospects.

Develop High-Level Expertise

Many attorneys are drawn to government practice not just to serve the public, but also to take on high levels of responsibility earlier in their career than attorneys in private practice. The higher the level of responsibility you have handled, the more attractive you will be to most law firms. Seize opportunities to lead projects, appear in court, negotiate settlements, craft new rules, attend training sessions – your advanced skills will set you apart from the competition.

Also, seek out an experience that gives you a unique insight into government policies and priorities. Firms and clients appreciate that insight because you will be able to help them more effectively navigate (what seems to be constantly evolving) legal frameworks.

You may also be able to leverage your expertise to earn promotions, which may make you more appealing to potential firms, especially at the partner level. Senior positions also enhance your credibility with future clients.

Build Relationships

This is one of the most rewarding aspects of practicing law for many attorneys. It is also crucial for government attorneys who are interested in partnership options. Firms appreciate your relationships in part because they demonstrate that you are thinking ahead about developing business, and that you are honing the soft skills needed to build a successful practice. 

So where do you build these relationships as a government attorney? While you are not in a position to wine and dine potential clients, you still have a universe of options. Start by fostering relationships with your government colleagues. If your colleagues leave they may become clients if they move in house, or referral sources when they join other firms. You also have opportunities to build relationships with professionals you meet at government events, departmental training sessions, and conferences. Consider joining the ABA Government and Public Sector Lawyers Division to meet even more people. Even working across the table from opposing counsel presents the opportunity to get to know key players in your space.

Focus on Relevant Practice Areas

If your long-term goal is a move to private practice, focus on a practice area that not only inspires you but also aligns with the kind of firm you want to join. You will have more options if you are interested in areas where top firms have thriving practices. For 2024, we predict that litigation, antitrust, white-collar, corporate, energy, and intellectual property will continue to thrive. In contrast, specializing in niche areas like First Amendment law may limit the range of options available to you. That said, you will ultimately commit to one firm. Therefore, the volume of exit opportunities might be just one factor for you to consider.

Plan Ahead

Strategically planning ahead increases the likelihood of a successful search. Not only does it take time to craft persuasive application materials, but you also need to take the market for government attorneys into consideration. This year, for instance, it is important to be mindful of the electoral cycle. A surge of government candidates after elections can lead to heightened competition. Positions may also be limited at that point; historically, many firms complete their searches for government attorneys well before an election. 

You also need time to find the firms that align with your practice areas, work style, and personal and professional goals. A legal recruiter who has deep relationships with firms can help you on that front; they will know which practices are thriving, which firms are hiring, and can play a pivotal role in guiding you to the firms with platforms that best match your aspirations. The earlier you reach out to a recruiter, the better they will be able to help you with your search.

For personalized guidance and insights specific to your career path, connect with me, Amy Savage, at . Your next career move awaits, and we are here to support you every step of the way.

Lateral Link Announces 2024 Promotions

Lateral Link is pleased to announce the promotion of several outstanding members of our team this year. These professionals have exemplified unparalleled expertise in legal recruiting, demonstrated exceptional leadership skills, and contributed greatly to helping maintain Lateral Link’s collegial and collaborative culture.

Jon Kahn: Managing Principal, New York

Jon Kahn, one of the co-leaders of Lateral Link’s partner practice group, is now a Managing Principal in Lateral Link’s New York office. With over 25 years of legal industry experience, Jon brings a unique understanding of lateral hiring, having been a partner at major law firms in New York and founding his own executive legal search firm, JEK Partners. His background in capital markets transactions, high-yield offerings, IPOs, and M&A transactions enriches our team’s capabilities. Jon holds a J.D. from Georgetown University Law Center.

Amy Savage: Senior Principal, Washington, D.C.

Amy Savage, the leader of our Government Transitions Group, is promoted to Senior Principal in our Washington, D.C. office. A recognized expert on legal career issues, Amy has made significant contributions to the D.C. legal market over 15 years, particularly in placing associates and partners with top Am Law firms. Amy earned her J.D. cum laude from Georgetown University Law Center.

Lauren Smith: Senior Principal, Washington D.C.

Lauren Smith, now a Senior Principal in our Washington, D.C., office, specializes in partner and group placements nationwide. Her diverse legal experience as both an Am Law 100 law firm litigation associate and in-house counsel provides a broad perspective beneficial to her recruiting expertise. Lauren graduated with a double major from Cornell University and later obtained her J.D. from William & Mary.

Christine Berger: Senior Director, New Orleans

Christine Berger is promoted to Senior Director, focusing on attorney placements in Texas and Louisiana. Her in-house, law firm, human resources, and resume writing experience offer unique insights into the recruiting process. Based in New Orleans, Christine’s outstanding dedication and drive has played a pivotal role in our expansion in the region.

Lateral Link continues to uphold our commitment to excellence in legal recruiting. These promotions highlight our dedication to valuing leadership and expertise within our team. We pride ourselves on understanding the complexities of the legal market, ensuring tailored and strategic solutions for both our clients and candidates.

We invite talented individuals who share our vision of excellence and collaboration to consider joining our dynamic and forward-thinking team. For those seeking opportunities in a highly-regarded recruiting firm with access to unmatched resources, a collaborative and collegial culture, and above-market compensation, Lateral Link is the ideal destination.

Law Firm Mergers: Analyzing the 2023 Trends and 2024 Forecasts

The landscape of law firm mergers in 2023 revealed significant developments, characterized by a series of strategic consolidations. These trends not only reshape the current legal market but also set the stage for further transformations in 2024.

2023 Merger Landscape: A Quantitative Overview
In 2023, the legal industry saw 48 law firm mergers, a slight increase from 44 in the preceding year. This uptick underscores a growing interest in strategic growth and market diversification, particularly among large firms and in cross-border consolidations. For instance, the year witnessed notable cross-border mergers, doubling from two in 2022 to four, and mergers involving large firms (with over 100 lawyers each) increased from two to five, as reported by Fairfax Associates.

Notable Mergers and Strategic Expansions
High-profile mergers, such as the combination of Allen & Overy and Shearman & Sterling, highlighted a trend towards global expansion, particularly for UK firms eyeing the U.S. market. Regional mergers also made headlines, with the largest domestic merger being between Cleveland-based Ulmer & Berne (175 lawyers) and St. Louis-based Greensfelder Hemker & Gale (140 lawyers), signaling a strategic move towards creating ‘super-regional’ entities.

Challenges and Considerations in Large-Firm Mergers
Executing mergers among large law firms presented its challenges. Aligning firm cultures, client portfolios, and operational strategies are crucial for a successful integration. Such complexities are indicative of the nuanced approach required in larger consolidations.

Shift in Focus: Boutique and Regional Firms
Smaller and mid-sized firms showed an increased propensity for mergers as a strategy for combating slow growth and rising operational costs. This shift indicates a broader recognition of mergers as a key strategic tool for sustaining competitiveness in a challenging market.

2024 Projections: Continuing Trends with New Dynamics
The legal sector in 2024 is anticipated to continue witnessing mergers, albeit with a nuanced shift. Larger firms are showing a preference for organic growth through internal development, suggesting a more balanced approach to expansion.

Economic Factors Influencing Mergers
Economic conditions, such as market fluctuations and inflation, continue to influence the merger landscape. Firms are increasingly using mergers as strategic responses to these economic challenges, showcasing the importance of adaptive strategies in the legal sector.

Regional Dynamics
The regional distribution of mergers in 2023 also offers valuable insights. States like California, Chicago, and Pennsylvania emerged as hotspots for merger activities, underlining the importance of understanding local market dynamics in strategic planning.

The 2023 law firm merger trends and the 2024 outlook reflect a dynamic approach to growth and adaptation within the legal industry. As firms navigate the global market, mergers remain a pivotal strategy, especially for smaller and regional firms. Concurrently, larger firms are diversifying their growth strategies to include both mergers and organic development.

Engage with Our Experts for Strategic Growth
To effectively navigate these trends, consult our industry experts at Lateral Link. Our team offers in-depth knowledge and practical experience to help you understand these market shifts and their implications for your firm.

Connect with Industry Experts: Gain personalized insights and strategic advice tailored to your firm’s needs. Speak to an Expert

Explore Lateral Opportunities: For legal professionals seeking new challenges, discover how lateral moves can enhance your career. Explore Opportunities.

Share Your Insights: We invite you to share your experiences or thoughts on law firm mergers. Connect with us directly through our Company Directory to contribute to our ongoing discussion.

Shifting Dynamics in Law: The 2024 Guide to Navigating Legal Career Advances

The legal industry is currently navigating a dynamic period, characterized by changes in lateral attorney moves. However, a closer look at the recent data suggests a market ripe with opportunities as we approach 2024.

Shifts in Lateral Moves: A Perspective

While 2023 witnessed a noticeable decline in associate lateral moves, dropping by 66% in the first quarter compared to the same period in 2022, this shift reflects a more nuanced legal hiring environment rather than a downturn. The legal market is adjusting after the unprecedented activity of the previous years, with total lateral moves still surpassing pre-pandemic levels. Specifically, there were 15,109 lateral moves in the third quarter of 2023, compared to the peaks of 2021 and 2022. This suggests a market adjusting to a new normal, rather than a significant decline​​​​.

Partner Moves and Regional Growth

Partner moves in 2023, while also experiencing a decrease, indicate a more subtle shift in the market. Cities like Philadelphia and San Francisco have seen the highest increases in partner moves, pointing towards regional growth opportunities. The second quarter of 2023 was notably the second busiest for partner moves since 2017, hinting at a resilient and adapting legal landscape​​​​.

Practice Areas with Steady Demand

Certain legal practice areas have demonstrated consistent demand, defying broader market trends. These include labor and employment, data privacy and cybersecurity, restructuring, intellectual property, and litigation. This sustained demand aligns with ongoing economic recovery and changes in legal service needs, presenting promising avenues for lawyers in these specialties​​.

Corporate and Transactional Areas: A Rebound on the Horizon

The corporate and transactional sectors, after facing setbacks, are showing signs of revival. This rebound, evidenced by recent M&A activity data, portends an optimistic outlook for 2024. As economic forecasts become more positive, these sectors are likely to see an uptick in hiring, creating potential opportunities for lawyers specializing in corporate and transactional law​​.

Looking Forward: Seizing Opportunities in 2024

As we approach 2024, the legal industry presents a landscape of opportunity and potential. The data and trends indicate that while some traditional paths may have slowed, new avenues are opening up, particularly in areas like labor and employment, data privacy, cybersecurity, and corporate transactional sectors. This period of adjustment is not just a challenge but a chance for forward-thinking lawyers to capitalize on the emerging trends and position themselves for success in a post-pandemic world.

Connect with Lateral Link for Tailored Guidance

For lawyers seeking to navigate this dynamic and evolving landscape, partnering with an expert legal recruiter can be a decisive step. Lateral Link, with its deep industry insights and personalized approach, can provide invaluable assistance. Whether you’re exploring new opportunities or seeking strategic advice for your next career move, Lateral Link offers the expertise and resources to help you make informed decisions and find the right fit in this changing market.

Don’t miss out on the potential that 2024 holds. Reach out to Lateral Link today and take the first step towards realizing your professional aspirations in the legal field.

2024 Legal Industry Outlook: Strategic Transformations and Emerging Opportunities

The year 2024 marks a pivotal era for the legal industry, characterized by rapid technological advancements and significant shifts in legal practices. These developments are reshaping the landscape, and introducing new challenges and opportunities for legal professionals and firms.

“As we step into 2024, we’re witnessing a seismic shift in the legal sector, propelled by cutting-edge technologies and a redefinition of legal practice. This evolution is not just a trend but a fundamental transformation, dictating new paradigms in how legal services are delivered and managed,” remarks Lateral Link Director, Ashleigh Goldberg

  • The Influence of AI and GenAI in Legal Operations

Michael Heise, haistack.ai CTO: “In 2024, the greatest AI influence in the legal industry will continue to be Large Language Models (LLMs). In 2023, tools like ChatGPT showed their power in answering prompts quickly and in different voices and styles. Law firms will look to harness this power with LLMs secured for and designed specifically for their firm. Challenges still lie ahead, like ensuring documents that make up the LLM do not violate ethical wall barriers, but the technology is too transformative to be ignored.”

Analysis: Everlaw predicts significant applications of GenAI in legal practice, with AI technologies automating up to 50% of legal tasks in corporate transactions.

  • ESG and Climate Litigation

Zain Atassi, Principal, Lateral Link Chicago: “2024 will see a rise in ESG litigation, reflecting the growing importance of environmental and social governance in corporate strategies.”

Trend Overview: The PHA Group reports an anticipated surge in ESG-related litigation, driven by increased corporate responsibility and public awareness.

  • Evolving Billing Models and Litigation Funding

Lauren Smith, Principal, Lateral Link Partner Practice Group: “The trend towards alternative fee arrangements is likely to redefine how legal services are delivered as client demands focus more and more on value.” 

Market Insight: The Law Society Gazette highlights a shift towards alternative fee arrangements,  such as flat or fixed fees, with flat fees becoming increasingly popular. Nearly half of all external legal spend in 2023 utilized such models.  While alternative fee arrangements tend to emphasize value over volume, they are most applicable in situations when the work product is predictable.  Alternative billing arrangements do not suit all work, e.g., a litigation that could go in a variety of unpredictable directions.  

  • Cybersecurity Law

Romina Filippou, Senior Director, Lateral Link Northeast: “The rapid evolution of digital threats is making cybersecurity law a critical and growing practice area.”

Industry Perspective: The rise in digital threats and the evolving landscape of internet privacy and data protection laws underscore the growing importance of cybersecurity law.

  • Energy & Natural Resources Law

Susan Agopian, Principal, Lateral Link California: “As the world shifts towards renewable energy, the legal aspects of these resources are becoming more pertinent.”

Sector Analysis: The legal complexities surrounding renewable energy sources, including regulation and innovation, are driving demand for specialized legal expertise.

The legal industry in 2024 is poised for exciting developments, driven by technological innovations and changing market dynamics. Lateral Link, with its team of seasoned recruiters and industry experts, is committed to guiding law firms and legal professionals through these changes, ensuring they remain at the forefront of the industry.

Connect with Lateral Link today to leverage our deep industry knowledge and expertise. Let us help you harness these trends for success in the dynamic legal landscape of 2024.