Steven Cooperman Quoted in Law.com on Big Law Attorneys’ Shift to Midsize Firms

Chair and Co-Managing Partner Steven Cooperman was quoted in a Law.com Pro Mid-Market article entitled “Big Law Attorneys Are Hitting the Lateral Market. Should Midsize Firms Hire Them?” The article discussed that with Big Law associates struggling to hit hours and partners being priced out of their own practices, midsize firms are seeing more interest from Big Law attorneys than at any point in recent years.

Steve spoke to the cyclical nature of the talent market, stating, “In Q4 2020 and 2021, the volume of (lateral) activity—particularly with corporate practices—was so heavy, everyone was looking to hire. Big firms were paying significant bonuses to get talent, and that made it a little tougher for the mid-market.” He continued, “I think the hiring market has cooled and in fact you’re seeing some larger firms trying to shed that excess capacity they took on, so I think we’re able to be more competitive.”

Steve also noted that in addition to market conditions, associates often leave Big Law for a more clearly defined path to partner. “In our firm, we have standards, but if you meet those we haven’t shut the spigot off and said we’re only going to make X number of partners. We promote people worthy of promotion,” he stated.

Subscribers to Law.com, read the full article here.