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Lateral damage: failed hires cost London dear

Thanks Rob! That would indeed be an interesting comparison. Taking up Mandy's point, I suspect there is a stigma to moving around in law which, as I understand it, does not exist to the same degree in, say, banking, where in some areas if you stick around more than two years you might be considered to be stale. At the moment in law, lateral hiring is a high-cost model which does not work quite a lot of the time, and is one which can be very high risk for the partner or partners moving. Your career will survive one failed move, but a second one can be the beginning of an inexorable downward movement in status and compensation. The risk of moving is rarely, imho, covered off with candidates by recruiters, who have every interest in moving them (and don't really need to concern themselves with how long the lawyers remain in post after having placed them).

28-Feb-2012

4:50 pm