The IP lateral market is being pulled in two directions at once. Law firms are competing aggressively for specialized talent through team acquisitions, while technology companies and AI platforms are absorbing that same talent in-house at a pace that is creating real supply constraints. This report tracks 1,040 moves from Q2 2025 through Q2 2026 — and the story it tells is one of a market under pressure.

Anthropic and OpenAI each appear in the in-house destination data with multiple IP hires — Anthropic with 4 and OpenAI with 2, alongside Sierra and AMD — the clearest indication in the dataset that AI companies are building dedicated IP legal teams. This is a category of employer that did not exist as a meaningful IP destination five years ago. It changes the competitive calculus for every law firm trying to retain mid-career IP practitioners. blackbyrdpartners

The firm-to-firm story is just as significant. Sheppard Mullin brought in 10 attorneys from Ropes & Gray in a single month. King & Spalding absorbed 7 of 8 attorneys from Winston & Strawn in February 2026. White & Case received 6 attorneys from A&O Shearman in January 2026. These are not routine lateral moves. They are firms acquiring entire practice capabilities at once. blackbyrdpartners

At 22.5% of all tracked moves, the IP in-house exit rate is the highest of any practice area in this dataset. With 94 open positions and that level of ongoing outflow, the supply of qualified IP candidates is tighter than the open position count suggests. Attorneys with Federal Circuit clerkships, USPTO prosecution backgrounds, or ITC experience have more leverage right now than at any recent point in the market.

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The real estate lateral market is recovering. 1,103 moves over four quarters reflects a practice area that absorbed years of interest rate disruption and is now reactivating as transaction volume returns. This report tracks that movement in full — group hires, title changes, in-house exits, class year patterns, specialty shifts, and where the 140 currently open roles are concentrated.

Polsinelli recorded group moves of 5–6 attorneys across three separate months — the only firm in the dataset with multiple consecutive quarter group intakes. That pattern signals a firm executing a deliberate national build, not filling seats opportunistically. Greenberg Traurig's consistent second-place position reflects its breadth across 20-plus offices. blackbyrdpartners

Real estate is also the most geographically spread practice area in this series. Atlanta, Dallas, Miami, Seattle, and Tampa all produced meaningful bidirectional movement, and Washington DC and Los Angeles are both net receivers of real estate talent right now. The gap between New York and secondary markets is smaller here than in any other practice area covered in this report series. blackbyrdpartners

Classes 2020 through 2023 account for 51.5% of all tracked real estate lateral activity, but unlike corporate or banking, senior practitioners are still moving. Partners and counsel from classes as early as 2013 and 2014 are visible in the data — a reminder that in real estate, a 10-plus year career doesn't price you out of the lateral market. It often makes you more competitive.

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Litigation is the most active lateral practice area in the market, and it operates differently from every other. This report tracks more than 5,000 attorney moves from Q2 2025 through Q2 2026 — covering group moves, title changes, judicial and government exits, class year trends, specialty shifts, and the geographic distribution of both movement and open roles.

The seasonality pattern here is the opposite of corporate and banking. Litigation peaks in Q3 because the judicial clerkship cycle ends in summer — the 2,352 moves recorded in Q3 2025 represent an annual pattern that repeats predictably. Firms that want access to top clerk talent need to be recruiting in the spring, not reacting to summer movement after it has already happened. blackbyrdpartners

1,095 attorneys made the Law Clerk to Associate transition during the tracked period — a defining feature of litigation talent that has no parallel in transactional practice. On the other end, 741 attorneys moved to judicial, government, or in-house positions, the highest non-firm exit rate of any practice area covered in this series. blackbyrdpartners

261 active litigation associate roles are open right now. Los Angeles leads all cities in open positions — more than New York — driven by consumer class actions, tech disputes, and entertainment litigation. For litigators evaluating where demand is most concentrated, the answer right now is not where you might expect.

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The banking and finance lateral market recorded 1,016 attorney moves from Q2 2025 through Q2 2026. This report tracks the full period — group moves, title changes, in-house exits, class year activity, specialty trends, and geographic distribution across 12-plus markets.

The most consequential talent event in the dataset was the Cadwalader dispersal. Attorneys from that firm's structured finance and CLO practices moved to Orrick, Sidley Austin, and Proskauer across multiple consecutive months, redistributing specialized expertise broadly across the Am Law market rather than concentrating it at a single destination.

Classes 2020 through 2023 accounted for 53% of all tracked banking lateral activity. These attorneys have the deal volume and practice depth firms are actively looking for right now. Private credit firms — HPS, Golub Capital, Oaktree — are now pulling banking talent in-house, meaning law firms are competing on two fronts simultaneously. blackbyrdpartners

183 banking associate roles are open in the current market. Demand is concentrated in structured finance, secured lending, and fund finance, with Charlotte and Chicago representing meaningful opportunity outside of New York. If you work in banking and finance and you're evaluating your options, this is the data that tells you where the market actually stands.

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The corporate lateral market ran at a consistent pace from Q2 2025 through Q2 2026. This report tracks 2,763 attorney moves across that period, with data covering group hires, title changes, in-house exits, class year activity, practice specialty trends, and geographic movement.

Simpson Thacher and Kirkland & Ellis led all hiring, each absorbing more than 130 attorneys. Associates from the classes of 2020 through 2023 accounted for 56.8% of all tracked movement — the same pool facing the most demand and the most competition simultaneously. 634 attorneys left private practice entirely, with private equity firms and financial institutions claiming the largest share.

350 corporate associate roles are open right now. Demand is concentrated in the 3–5 year experience range, and it spans more than 15 markets. If you're a corporate M&A associate evaluating your options — or a firm trying to understand where the market stands — this is the data set you need.

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2025 didn't follow that predictable pattern. The ground shifted beneath the industry repeatedly, creating uncertainty that made planning feel like guesswork. Old assumptions stopped holding true, and new realities took their place faster than anyone could track. For lawyers trying to make sense of what's happening now, predicting what comes next feels particularly challenging.

Despite uncertainties, the lateral market held steady, with only 2% fewer moves compared to 2024. Trendlines continued related to elevated partner and group moves, title changes with lateral movement and mid levels accounting for ~30% of associate moves. 

This report takes a look back at 2025’s lateral market and a practical look at what 2026 may hold for legal professionals. Rather than making sweeping predictions, we've focused on specific trends across four key areas: Litigation, Executive Orders & Authority, Corporations & Transactions, and Artificial Intelligence.

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Based on research by organizational scientist Steven G. Rogelberg, PhD (author of "Glad We Met: The Art and Science of 1:1 Meetings"), this guide helps employees transform one-on-one meetings from routine status updates into powerful career development conversations.

Key Takeaway: Successful professionals don't wait for development opportunities—they create them through intentional dialogue and strategic questioning in manager-employee meetings.

Target Keywords: one-on-one meeting questions, 1:1 meeting agenda, employee career development, manager meetings, professional growth strategies, performance review questions, career advancement tips, employee development, strategic 1:1s, workplace communication

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This comprehensive guide presents science-backed workplace well-being strategies that can reduce stress by up to 32% and increase job satisfaction by 50%. Six evidence-based practices for professional resilience.

Key Takeaway: Consistent small actions outperform occasional major changes in building sustainable workplace mental health and professional resilience.

Target Keywords: workplace well-being, employee mental health, stress reduction strategies, job satisfaction, work-life balance, burnout prevention, workplace wellness, professional resilience, evidence-based well-being, corporate mental health

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This comprehensive guide provides new Big Law associates with practical strategies for building a successful legal career from day one. Here are 14 actionable tips for first-year lawyers.

Key Takeaway: Success in Big Law requires balancing hard work with strategic career development, strong relationships, and continuous learning.

Target Keywords: Big Law associate tips, new lawyer advice, first-year attorney success, law firm career guide, legal professional development, associate survival guide, Big Law career strategies

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