New York Managing Director Matt Moody shared with The American Lawyer his comments on the outlook for the 2022 law firm hiring market and the continued use of signing bonuses to attract top legal talent. According to Matt, law firm associates have come to expect signing bonuses when making a lateral move within the pandemic-era battle for legal talent. Anecdotally, Matt says he’s seen some firms recently offering less in signing bonuses. Matt says this could be indicative of the market overall, or that certain Am Law 50 firms are conserving financial resources, knowing that signing bonuses are going to continue to be a useful tool in recruiting. In any event, Matt continued, signing bonuses are “here to stay” as a means for firms to offer a competitive edge to candidates. “I have seen firms pull back on signing bonuses and have seen those firms be less competitive than firms that are free-spending on these bonuses,” Matt said.
Check out the full article originally published on The American Lawyer: From Stagnant Wages to Mass Layoffs, Recruiters Ponder Worst- (and Best-) Case Scenarios of Inflated Hiring Market