All posts by Wendy Boone

Consider a Lateral Move to the Booming Texas Market ($10K Lateral Link Placement Bonus)

Are you interested in making a lateral move to a firm in Texas? If you answered “yes,” then we have some good news for you. Lateral Link’s Placement Bonus is BACK!  Here’s how it works: If a Lateral Link recruiter presents you to a Texas firm before Labor Day of 2019 and we ultimately place you from that introduction, Lateral Link will pay you $10,000 just for working with us!

Why Move to Texas?

Texas continues to remain a TOP destination with its low-cost of living and competitive salaries compared to other major markets.  Over the last five years, more than forty AmLaw 200 firms have opened offices in Dallas, Austin and Houston. Some of the newest firms to the Texas market include Womble Bond Dickinson, White & Case, Kirkland & Ellis and Shearman & Sterling.

Texas has four major, bustling and diverse big city centers and is home to many Am Law 100 firms and high-end boutiques.  The market is continuously evolving and thriving as a “place to be.” For the first time since 2016, Dallas has more growth in the associate market with 122 hires compared to 88 associate hires in Houston.

Dallas and Houston, similar to the Associate movement, are showing major upward trends in the Partner hiring market, as well.

Which Firms are Making Moves in Texas?

Reed Smith wins the award for the most growth in Dallas, this year, with the opening of its new office. Gordon Rees Scully Mansukhani LLP and Winstead have also had significant hires in Dallas. In Houston, White & Case and Lewis Brisbois Bisgaard & Smith LLP are leading the charts with the most hiring in 2019.

What are the Best Practice Areas in Texas?

The practice areas with the most hiring in early 2019 include Corporate and Finance, Litigation, IP, and Real Estate.  Some of the highest Vault and AmLaw – ranked corporate practice groups reside in Texas.  In particular, Kirkland, Sidley and Latham lead the way on headline Corporate and Private Equity transactions on an international scale.  This year to date, Corporate and Finance had 72 new attorney hires in Texas.  Within these practice areas, Corporate hiring has been primarily concentrated in M&A and, especially, in the Private Equity space.  With regards to finance practice groups, debt-finance including syndicated and leveraged lending was the busiest finance hiring area.

Litigation has remained steady since 2018.  With approximately 85 Associate hires thus far, there has been about the same amount of Litigation Associates hired in the first half of 2019 compared to the same time last year.

IP has started to ramp back up with hiring gains in 2019.  Year to date, there has been 20 new Associate hires compared to only 10 in 2018.  Texas hosts many of the top IP teams at both large Am Law-ranked and IP specialty firms. The IP teams in Texas handle sophisticated IP Litigation and Patent Prosecution matters for an array of top companies.  Technology and IP transactions associates have also been in high demand in Texas.

Real Estate practice continues its upward trend in Dallas.  These Associates handle a wide variety of sophisticated Commercial Real Estate transactions including purchases, sales, leasing, development, management and ventures. Since January 2019, major Am Law firms in Texas have hired over 20 Real Estate Associates.

In summary, the Texas legal market is flourishing, with available positions for associates of all practices and seniority levels.  Law firms are very open and HAPPY to relocate worthy candidates. If you are interested in hearing more about the Texas market, please feel to reach out to me at WendyBoone@laterallink.com.

Top 5 Reasons to Move to a Law Firm in Texas

Texas has some stereotypes attached to it, but it’s not all steak, big hair, and cowboy boots. Texas has four major, bustling, and diverse big city centers, is home to many Am Law 100s and Fortune 100s, and has a booming technology hub in Austin. Texas has great associate talent, but the number of associates in Texas has not kept up with the recent growth, which is why we see attorneys flocking here from both coasts. If that’s not enough to wet your whistle for Texas, here are five solid reasons to consider Texas.

1. Flurry of New Office OpeningsTexas has attracted unprecedented growth in the form of Am Law ranked firms planting flags. Over the last five years, over 40 Am Law 200 firms have opened offices in Dallas, Austin or Houston. Some of the newest firms to the Texas market include Womble Bond Dickinson, White & Case, Kirkland & Ellis and Shearman & Sterling (to name a few).

 20142015201620172018
DALLAS-Schiff Hardin

-Phelps Dunbar

-McGuireWoods

-Fox Rothschild

-Barnes & Thornburg

-McDermott

-Kilpatrick Townsend

 

-Spencer Fane-Winston & Strawn

-Dorsey Whitney

-Drinker Biddle

-Foley & Lardner

-Sheppard Mullin

-Katten Muchin

-Kirkland & Ellis

-Stinson Leonard

 

HOUSTON-Willkie Farr

-Quinn Emanuel

-LeClair Ryan

-Kirkland & Ellis

-Arnold & Porter

-Fragomen

Holland & Knight-Orrick, Herrington & Sutcliffe

-Kelley Drye

-Akerman

-Bradley Arant

-Kilpatrick Townsend

-Gibson Dunn

-White & Case

-Shearman & Sterling

-Foley & Lardner

AUSTIN-Pillsbury -Kelley Drye

-Akerman

-Dickinson Wright

-Michael Best

 -Tulley Rinckey-Shearman & Sterling

-Reed Smith

 

2. Top Compensation and NO State Income TaxesIn an effort to compete with talent on the east and west coasts, most national and international firms in Texas pay “Cravath” salaries (or very close to it). Since the cost of living in Texas is extremely low, you’ll get more bang for your buck. Imagine it with me: muuuuuccch lower mortgage/rent, lower childcare costs, lower energy and food staples, and NO STATE INCOME TAXES. You can funnel all the extra money to paying off your student loans or buying a yacht. It’s your life!

3. Thriving MarketHave I mentioned the Texas legal market is super busy? Dozens of companies have relocated their headquarters to Texas during the past couple years which means more sophisticated legal work for attorneys here. In 2018, firms made approximately 560 associate hires. Firms that did the most hiring included Kirkland & Ellis, DLA Piper, and Vinson & Elkins. The busiest practice areas should come to no surprise – corporate/mergers and acquisitions, finance, and energy.

4. Abundance of Affordable Real EstateYour family can live in a GIGANTIC house or a cool spacious loft in Midtown. You can have a lawn, maybe a dog, perhaps a llama or two. You can have a king-size bed in your guest room. Dream big!

5. People and CommunityTexans are amazing. Well, most of them. Several counties in Texas (around major cities) are some of the most diverse in the country. Texas is full of world-class museums, theatres, art, and festivals. We have AMAZING food from every corner of the world. There are wineries, breweries, state parks, deserts, mountains, hills, oceans. It’s all here!In summary, the Texas legal market is flourishing, with available positions for associates of all practices and seniority levels. Law firms are very open and HAPPY to relocate candidates. If you are interested in hearing more about the Texas market, please feel to reach out to me at WendyBoone@laterallink.com.