Here's a look at the issues and drivers underlying the entire process written by a lawyer recruiting firm: "Partners in Practice: Anatomy of a Lateral Move" [Part 1] [Part 2]. It provides interesting context regarding the various factors in play motivating lawyers and firms engaged in lateral activity:
- "Each year, about one in 20 partners faces a lateral move. The process can seem irrational and daunting, especially to first-timers. Having gone through a lateral move myself, and overseen the hiring of numerous laterals as a managing partner, I’m more familiar with this arcane ritual than most. Now, after 10 years as a recruiter guiding dozens of candidates through the process, I offer an 'anatomy' of a lateral move."
- "Bill had worked with a marquee high-tech client over the last decade, which constituted about three-quarters of his portable business. The client had followed Bill through several moves, but its conflicts policies necessitated the moves. So while the heft of the marquee client and its loyalty to Bill mitigated the diversification issue, a number of firms would likely shy away from hiring him because of definite or potential conflicts with his showcase client..."