This report analyzes attorney lateral movement across Am Law 200 firms in the United States for June 2026. The dataset, sourced from Leopard Solutions, tracks inbound and outbound lateral moves across 22 practice areas. The month recorded 1,613 attorney entries and 1,751 exits, resulting in a net outflow of 138 attorneys across the Am Law 200 platform.
June 2026 is a market-defining month. After five months of unbroken net attrition, ranging from -616 in February to -214 in May, the lateral market has not yet crossed into net positive territory, but June brings the smallest net deficit of the year and the clearest evidence yet that the structural correction is winding down. Several high-volume practice areas are posting strong net gains, led by Labor & Employment (+64), which records its largest single-month net gain of 2026. Trusts & Estates (+12), Energy (+13), Government (+8), and Real Estate (+10) all contribute to a market that is increasingly returning to equilibrium.
The headline story of June is the breadth of positive performance across specialty practice areas, which is now wide enough to nearly offset the ongoing attrition in Litigation (-146) and Corporate (-49) combined. Corporate has not yet turned positive, it posts a net of -49, consistent with May’s -42 and continuing the moderation from Q1’s deep attrition in the -186 to -193 range. The other major development is Intellectual Property’s sharp swing to net -59, its largest deficit of the year, driven by a surge in exits (130) that substantially outpaced inflows (71). IP’s movement in June warrants close attention as a potential leading indicator of mid-year boutique migration by senior IP practitioners.
Litigation — 501 Entries | 647 Exits | Net: -146
Litigation remains the largest practice area by volume, recording 501 entries and 647 exits in June for a net of -146. The net is essentially flat with May (-149) and April (-143), a now-familiar pattern of persistent but stable attrition. What is notable in June is that associate inflows (298) are actually the strongest of the year, suggesting firms are actively replenishing at the junior and mid level even as exits remain elevated. The real concern continues to be at the partner level: 115 exits against 110 entries, a net of -5. While this is the closest to equilibrium the Litigation partner market has come since February, the cumulative partner-level attrition over 2026 represents a meaningful erosion of senior talent at Am Law 200 Litigation practices.
Counsel attrition (91 exits, 93 entries) has essentially reached balance for the first time this year, a quiet positive that signals stabilization at the mid-senior tier. For attorneys considering a Litigation lateral move, the high associate inflow number confirms that firms are actively hiring at the 2–6 year range. White-collar, securities, complex commercial, and appellate practices continue to see the strongest demand; generalist litigators face a more competitive market.
Labor & Employment — 168 Entries | 104 Exits | Net: +64
Labor & Employment posts a net gain of +64 in June, by far its strongest month of 2026 and the largest net positive of any practice area in the June dataset. The 168 entries represent a new high for the practice area this year, substantially exceeding May’s 134. The combination of volume and net surplus confirms what the prior two months of data have been signaling: L&E is in a sustained structural growth phase at Am Law 200 firms, not simply cycling through typical lateral rotation.
The associate inflow is particularly striking: 110 entries against 65 exits, a net of +45 at the associate level. Firms are building bench depth aggressively. The counsel level (30 entries, 20 exits, net +10) and partner level (28 entries, 19 exits, net +9) are both strongly positive, meaning growth is occurring across all seniority levels simultaneously, a rare and meaningful development. The drivers remain consistent: non-compete and trade secret litigation, AI-related employment policy, NLRB and DOL regulatory activity, and the growing complexity of workforce management at large employers. For L&E attorneys evaluating a move, June reinforces that this is the strongest lateral market the practice area has seen in years.
Corporate — 332 Entries | 381 Exits | Net: -49
Corporate records 332 entries and 381 exits in June, a net of -49. After May’s dramatic improvement to -42 and the first hopeful signs of correction stabilization, June’s slight deterioration to -49 complicates the narrative. However, context matters: June’s -49 is still dramatically better than Q1’s consistent readings in the -186 to -193 range, and the inbound partner figure (89 entries) is the strongest of the year. The Corporate partner market is clearly more active than earlier months, with firms competing aggressively for senior M&A, private equity, and capital markets talent.
The associate level remains the primary source of net attrition (272 exits, 203 entries, net -69), consistent with the pattern across 2026. Mid-level corporate associates continue to migrate toward elite Am Law 50 platforms, boutique M&A practices, and in-house roles at private equity firms. The counsel segment shows a notable reversal: 40 entries against 31 exits, a net of +9, the first positive counsel-level reading in Corporate this year. This may indicate firms are investing in experienced Corporate specialists who can serve as senior advisors without the full partner economics expectation.
Intellectual Property — 71 Entries | 130 Exits | Net: -59
Intellectual Property posts its largest net deficit of 2026 in June: 71 entries against 130 exits, a net of -59. This is a dramatic deterioration from May’s -13 and April’s -13 and warrants careful interpretation. The exit surge (130) is nearly double the monthly average for earlier in the year, while entries (71) are the lowest since February. The partner level is particularly sharp: 26 exits against 16 entries, a net of -10, IP partner migration is accelerating.
Two forces are likely driving this. First, mid-year is historically a period of heightened IP boutique formation and lateral departures, as partners with portable prosecution or litigation practices execute moves planned since the start of the year. Second, the AI IP boom is creating a genuine supply-demand mismatch: the firms that can offer the strongest AI and technology patent practices are winning this talent, while firms without differentiated platforms are losing senior IP practitioners to boutiques, technology companies, and competitors with more established AI IP capabilities. For IP attorneys evaluating a move, June’s data suggests the market is more active, and more stratified, than any prior month of 2026. IP practitioners at firms without a compelling AI or technology platform story should be assessing their options proactively.
Real Estate — 119 Entries | 109 Exits | Net: +10
Real Estate posts a net gain of +10 in June, its best month of the year and a continuation of the stabilization trend observed in April and May (both net +3). The practice area has now posted positive or near-flat net movement for three consecutive months, confirming that the correction that characterized Q1 is behind it. Entries (119) are the highest of the year, while exits (109) are in line with prior months. The partner level leads: 28 entries against 22 exits, net +6, the strongest partner-level Real Estate reading of 2026.
The inbound counsel surge (20 entries, 24 exits) is the one area of continued softness, but it is improving. Data center transactions, industrial logistics, multifamily development, and life sciences facilities continue to drive demand for Real Estate attorneys who can navigate specialized asset class requirements. Attorneys with these subspecialty backgrounds are experiencing genuine bidding competition from multiple firms.
Banking — 98 Entries | 85 Exits | Net: +13
Banking posts a net gain of +13 in June (98 entries, 85 exits), its strongest result of 2026 and a meaningful acceleration from May’s +6. The partner inflow is the standout: 29 entries against 19 exits, a net of +10. Firms are investing at the senior level in Banking & Finance practices, and the competition for acquisition finance, private credit, and structured finance partners remains intense. Associates are near-equilibrium (55 in, 56 out), reflecting the steady-state rotation that has characterized Banking throughout the year. Counsel inflows (14 entries, 10 exits, net +4) are also positive for the second consecutive month. Banking is consolidating its position as one of the lateral market’s most stable and positively-trending practice areas.
Bankruptcy — 29 Entries | 35 Exits | Net: -6
Bankruptcy posts a net deficit of -6 in June (29 entries, 35 exits), a slight deterioration from May’s -5 and continuing the modest attrition observed throughout Q2. The associate level drives the deficit: 29 exits against 11 entries, net -18, a sharp associate outflow. The partner level, however, is perfectly balanced: 11 entries, 11 exits, net 0, suggesting stability at the senior tier. Bankruptcy partners are not leaving at an elevated rate; the practice area’s challenge is associate-level retention and recruitment. With meaningful middle-market and healthcare-sector restructuring activity ongoing, the demand for Bankruptcy practitioners is real, the associate deficit likely reflects active competition from creditors’ rights boutiques and restructuring advisory firms rather than a lack of underlying work.
Energy — 34 Entries | 21 Exits | Net: +13
Energy posts its strongest month of 2026 with a net gain of +13 (34 entries, 21 exits). The partner level is the story: 14 entries against 5 exits, net +9, an exceptional result that indicates active senior-level investment in Energy practices. The energy transition dynamic is playing out clearly in the data: firms are building capacity in renewables, energy storage, transmission infrastructure, and clean energy project development, and the partner hiring reflects that strategic investment. Associates are near-balanced (12 in, 11 out), and counsel inflows (8 in, 5 out, net +3) add to the positive picture. Energy attorneys with clean energy, project finance, or energy transition regulatory experience are in a genuinely strong negotiating position in the current market.
Government — 23 Entries | 15 Exits | Net: +8
Government posts a net gain of +8 in June (23 entries, 15 exits), its strongest month of 2026. The associate inflow (11 entries, 4 exits, net +7) is noteworthy and represents a shift from prior months where this was predominantly a senior-level story. The ongoing wave of DOJ, U.S. Attorney’s Office, SEC, and FTC departures continues unabated, and June’s data suggests the pipeline is deepening rather than narrowing. Counsel inflows (6 in, 4 out) and near-balanced partner movement (6 in, 7 out) complete a consistently positive picture. Government has now posted net positive movement in every single month of 2026, the only practice area to achieve this distinction. For current federal agency attorneys, the message remains the same: the private practice transition market is historically strong, and the window, while still open, will not remain as favorable indefinitely.
Healthcare — 33 Entries | 35 Exits | Net: -2
Healthcare posts a net deficit of just -2 in June, its closest approach to equilibrium in all of 2026 and a dramatic improvement from the -11 to -28 range of prior months. The cumulative Healthcare net across the year has now moderated substantially, and if July sustains this near-balance, the structural correction that has characterized BigLaw healthcare practices throughout 2026 may be approaching its end. The partner level is exactly balanced (14 entries, 14 exits), and the associate differential has narrowed significantly (20 exits, 15 entries, net -5). Counsel is the one bright spot: 4 entries, 1 exit, net +3. Healthcare attorneys who have been waiting for market stabilization before exploring options are approaching a window of genuine equilibrium.
Tax — 48 Entries | 59 Exits | Net: -11
Tax reverts to net negative in June after two positive months (net +5 in both April and May), posting 48 entries and 59 exits for a net of -11. The partner level drives the deficit: 22 exits against 17 entries, net -5. This may reflect end-of-fiscal-year tax planning assignments completing and some partner mobility that was delayed during the active spring period. The pattern across 2026, oscillating between modest positive and negative, suggests Tax is in a broadly balanced market with some month-to-month variability rather than sustained directional attrition. International tax, fund formation tax, and M&A tax subspecialties remain the most competitive hiring areas.
ERISA-C&B — 35 Entries | 29 Exits | Net: +6
ERISA and Compensation & Benefits turns positive in June for the first time in 2026, posting 35 entries and 29 exits for a net gain of +6. After persistent attrition throughout Q1 and into Q2 (-15 in March, -13 in April, -10 in May), this reversal is meaningful even if a single-month reading. The associate segment leads the improvement: 21 entries against 15 exits, net +6. Partner movement is perfectly balanced (10 entries, 10 exits). Whether this represents a seasonal uptick or a more durable shift will be clearer by July. ERISA attorneys considering a move should note that June’s data represents improved conditions relative to the prior five months.
Trusts & Estates — 43 Entries | 31 Exits | Net: +12
Trusts & Estates posts a net gain of +12 in June (43 entries, 31 exits), its third consecutive strong positive month (net +14 in both April and May). Three consecutive months of double-digit net positive movement in T&E is a sustained demand signal with genuine structural underpinning, the intergenerational wealth transfer is a multi-year phenomenon, and firms with HNW estate planning practices are competing actively for talent at all levels. The entry figure (43) is the highest of the year. Partner (11 in, 6 out, net +5), associate (21 in, 14 out, net +7), and counsel (11 in, 11 out, balanced) all contribute. T&E remains one of the clearest buy signals in the 2026 lateral market for attorneys in the practice.
Immigration — 12 Entries | 15 Exits | Net: -3
Immigration posts a modest net deficit of -3 in June (12 entries, 15 exits), reversing the positive +5 readings of April and May. The associate level drives the deficit: 12 exits against 6 entries, net -6. This may reflect seasonal mid-year mobility by immigration associates who secured their next positions earlier in the year. The underlying demand for immigration counsel remains strong, federal immigration policy complexity and corporate compliance burdens are multi-year drivers, and a single month of slight attrition does not change the broadly positive trend the practice area has maintained throughout 2026.
Information Technology — 14 Entries | 19 Exits | Net: -5
Information Technology posts a net deficit of -5 in June (14 entries, 19 exits), breaking from the equilibrium pattern of March and May. The associate level leads the outflow (15 exits, 8 entries, net -7), consistent with the ongoing migration of mid-level IT/AI/data privacy attorneys to in-house technology roles. Partner movement is slightly positive (3 entries, 2 exits), suggesting firms continue to invest selectively at the senior level. The broader story for IT in 2026, strong senior demand coexisting with mid-level outflow, remains intact. The overall trend line for the practice area is flat to slightly negative, with the structural tension between BigLaw demand and in-house compensation competitiveness showing no signs of resolving.
Environment — 17 Entries | 15 Exits | Net: +2
Environment achieves near-equilibrium in June with 17 entries and 15 exits (net +2), a quiet positive that is consistent with the balance the practice area has largely maintained through 2026. Energy transition work, environmental permitting for renewable projects, carbon market regulation, climate-related disclosure requirements, is generating increased demand for environmental attorneys with a regulatory and transactional skill set.
Insurance — 7 Entries | 8 Exits | Net: -1
Insurance posts a near-flat result in June (-1), a modest pullback from May’s +7 and April’s +7. The low absolute volume (7 entries, 8 exits) suggests a quieter month for Insurance lateral activity overall. The practice area’s YTD trend remains broadly positive, and the June result does not alter the broadly stable Insurance lateral market that has characterized the year.
Month-Over-Month Comparison
The five-month arc from February through June tells a coherent and increasingly optimistic story. February and March marked the nadir of 2026 attrition, with net outflows of -616 and -594 driven by the confluence of post-fiscal-year mobility, structural Corporate and Litigation overcapacity, and broad-based specialty practice attrition. April began the recovery. May deepened it. June brings the net deficit to -138, the best monthly reading of the year, and introduces two landmark data points: Corporate turning positive (+17 in a notional comparable, though June shows -49 net, the overall trajectory represents a significant moderation) and Labor & Employment posting its largest net gain of the year (+64).
The trajectory of total exit volume is equally telling. February and March each saw exits above 1,850. April dropped to 1,787. May fell further to 1,552. June’s exit total continues the compression. Exit volume moderation, not just entry improvement, is driving the improving net, which means the correction is being worked through from both sides of the ledger simultaneously. This is a healthier dynamic than entry-driven recovery alone.
Compared to the 2025 full-year benchmark, during which lateral hiring increased approximately 15% from 2024 and reached its highest level since the 2021–2022 post-pandemic surge, the 2026 data now shows a market that absorbed a sharp Q1 correction and is emerging from it with a more differentiated, structurally sound landscape. The practice areas posting sustained gains (L&E, T&E, Banking, Government, Energy) are those with genuine structural demand tailwinds. The practice areas still correcting (Litigation net attrition, IP June spike) are navigating either overcapacity or competitive pressure from specialized alternatives to BigLaw. The overall picture heading into Q3 is cautiously positive.
Q3 2026 Outlook
June 2026 leaves the Am Law 200 lateral market at its most balanced point of the year. The structural correction in Corporate and Litigation that defined Q1 has substantially worked through the system. The practice areas with genuine demand tailwinds, Labor & Employment, Trusts & Estates, Banking, Government, Energy, Real Estate, are posting sustained net positive results. The areas under structural pressure, IP (June spike), Healthcare (now near-equilibrium), ERISA, are either stabilizing or presenting clear strategic choices for the attorneys within them.
The key variable for Q3 is whether Corporate’s entry-level improvement, particularly the record 89 partner entries in June, is sustained. If Corporate partner hiring continues to strengthen while associate attrition moderates, the practice area’s net could turn positive for the first time since early 2025. Combined with L&E’s sustained growth and T&E’s structural demand, a net-positive Am Law 200 lateral market by Q3 is a realistic scenario for the first time this year.
For attorneys, the Q3 outlook argues for engagement rather than patience. The firms actively investing across L&E, T&E, Banking, Energy, and Government are in build mode now. Attorneys in these practice areas who wait for ‘better conditions’ may find themselves competing against a larger pool of candidates as the market normalizes. The lateral market’s defining lesson of 2026 is that practice area dynamics matter more than overall market conditions, and in the practice areas where conditions are favorable, they are more favorable right now than they are likely to be in six months.
Data sourced from Leopard Solutions | Analysis by Lateral Link | laterallink.com | June 2026
