September 01, 2020 The Finance Issue

I Guarantee It! The Role of Guaranteed Compensation in Lateral Hires

Some law firms will find opportunity in this economic downturn to more effectively compete going forward.

Natasha Innocenti
A red ribbon is sealed with a red wax number three.

A red ribbon is sealed with a red wax number three.

via Gerenme / iStock / Getty Images Plus

Many aspects of our personal and professional lives are different due to the economic impacts of the COVID-19 pandemic. In economic crises of the past, law firm recruiters prepared themselves for an expected related downturn in recruiting; however, while recruiting slowed down, savvy firms (with cash) used transitions to buy and to build.

This crisis is different. For one, firms serving Big Tech in the Bay Area can no longer fly in to meet clients. And we have already seen both a flight to quality and a race to take market share in the San Francisco Bay Area and Silicon Valley.

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