Money is the main motivator for Biglaw lawyers deciding whether to remain where they are or to change firms, according to a recent Above the Law/Lateral Link Report.
In a survey of more than 700 lawyers, the majority at Am Law 100 firms, attorneys were asked what would make them consider a lateral move. Higher compensation was the most influential factor, cited by 61% of respondents. Better work-life balance followed, at 57%.
Money also plays a key role in the reasoning of attorneys who plan to remain at their current firms. Although many appreciate the work environment (48%), the work-life balance (39%), and their firm’s prestige in specific practice areas (38%), compensation (58%) was the number one reason attorneys gave for staying put.
For more insights into the lateral market, including which firms attorneys most want to work for and what makes them so desirable, download a free copy of the report.
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