Spotlight on the Midwest

Rita McGonigle, September 2024

What is the first thing that pops into your head when you think about the Midwest? Soda pop, ranch dressing, cornhole (which we were surprised to find out isn’t a food)? If it’s the stereotype that everyone is super approachable, you’ll be glad to hear that there is actually some quantifiable truth to that: back in 2013, the University of Cambridge released a study assessing personality traits, which found that personalities in the Midwest showed higher levels of extraversion, agreeableness, and conscientiousness. However, we would be remiss not to mention that there is much more to the Midwest than its nice people. The region is home to Chicago, the third largest city in the United States, as well as Illinois and Ohio, which are included in the top ten states with the highest GDP. It is also the home to numerous Fortune 500 companies, such as UnitedHealth, Best Buy, Target and Procter & Gamble.

That said, it’s not just business that’s booming; the Midwest also offers a bustling legal market, which is in a growth period, and is therefore experiencing an increase in lateral moves. Want to learn more? We’ve got you covered. To gain more insight into the inner workings of the Midwestern legal market, we spoke to Lateral Link’s Ashleigh Goldberg, Anna Szymczak, Jesse Hyde, and Zain Atassi to discover what America’s Heartland can offer to partners and associates alike.

Midwest Magic

Like Dorothy said, there is no place like home... She may have a point; with twelve different states which all harbour their own cultures and niches, there really is something there for everyone in the Midwest. When asked about local culture, principal Zain Atassi remarks, “It is known as sort of being a little bit more laid back, a little bit more friendly, and a little bit more welcoming.” According to managing director Jesse Hyde, the Midwestern charm is even enough to coax attorneys back from the Big Apple. “We tend to find associates that went to a Midwest law school,” he states, “they go and start their career at a top New York firm, and then the ties they have usually draw them back.”  In fact, “the firms here absolutely love New York relocation for associates! They really value the training they have received, so they can move really quickly when entering the Chicago market,” he tells us.

“It is known as sort of being a little bit more laid back, a little bit more friendly, and a little bit more welcoming.”

However, we know that people are unlikely to relocate purely for friendlier people, (although we’re sure it certainly doesn’t hurt!). One huge draw for relocating to the Midwest is the lower cost of living. Director Ashleigh Goldberg explains that “even though Chicago is the third largest city in the United States, real estate is a lot less expensive; the market is much more affordable than New York, San Francisco, and LA. There are great suburbs which are close enough to the city where you can live and raise a family.” Believe it or not, New York is a whopping 87% more expensive than Chicago! With the average sale price of a home in the Big Apple sitting at $861,000 versus $368,000 in Chicago, you are certainly able to get more bang for your buck in the Midwest, without sacrificing the city life.

You also won’t need to sacrifice salary or work quality. Atassi nods, “We see a lot of people relocating to the Midwest from larger markets. Someone will have a higher cost of living in New York, San Francisco, DC etc. and then decide they want their dollar to go a lot further. Chicago pays the same market salaries that all the big cities pay, so lifestyle-wise, it feels like they’re making much more.” Atassi further comments that there are also plenty of lateral movements from smaller Midwest markets into Chicago.

In terms of types of work and firms available, there are plenty of different options to choose from. Goldberg highlights that “one of the benefits of working with a recruiter is that we can guide people in terms of what they are looking for. We see associates who are looking for an alternative boutique firm, for example, where they can continue to do sophisticated, complicated work and make BigLaw compensation or close to it. We also see those who want to maybe work less hours or get more satisfaction out of their work.” She further elaborates that a recruiter can help guide a candidate through choosing a firm: “For example, every boutique firm has its own personality. Some boutique firms in the tech or IP space are a little bit more laidback and casual, and their office spaces might be a little cooler. It really depends on the personality of the founders and being able to read what’s a good fit for a certain associate.”

Making the Move

Aside from moving for salary reasons, a lateral move may be a great way to secure a space at a firm with a little more prestige or depth of work. When chatting with Hyde, he told us, “A common theme is that associates are at a firm that maybe wasn’t their first choice during campus interviewing. Then, they have the opportunity later on to go to a very highly ranked firm that can provide a long-term career trajectory.” He further added that “if you’re a fifth or sixth-year associate approaching partnership level, it can be good to find somewhere that has a longer runway for you.”

 “I think a lot of associates are looking for an alternative to BigLaw."

Goldberg also pointed out, “I think a lot of associates are looking for an alternative to BigLaw.  Some firms we work with offer lower compensation, but you can be home for dinner with your family every night. However, there are other boutique firms which are not lifestyle firms and offer BigLaw compensation with exposure to the same big, sophisticated matters.” Clearly the right firm fit exists for everyone, if you click your heels enough times!

Midwest Mergers

The Midwest market, especially in Chicago, is experiencing a “growth period,” and Director Anna Szymczak highlights that law firms in the area are not only growing but merging to create larger firms. “According to Leopard Solutions, in the Midwest alone, since 2020, there have been 29 mergers of firms headquartered here,” she informs us. This was followed by fourteen mergers of firms in Ohio. On a wider scale, some of the larger mergers that have joined the Midwestern local market include Kilpatrick Townsend, which previously did not have an office in the area, and Orrick, which absorbed Buckley LLP. We also see Midwest firms expanding their footprint, like Cleveland-based Thompson Hine, which absorbed West Coast litigation boutique Conkle, Kremer & Engel in Los Angeles. These are just a handful of the many mergers taking place in the market right now, and for those who have their finger on the Midwestern pulse, your ears may perk up when you hear the name Troutman Pepper, a firm undergoing another merger and transforming into Troutman Pepper Locke this January.

The increase of Midwestern mergers presents several opportunities for associates according to Szymczak: “If you’re at a smaller firm that’s being absorbed or merging with a larger firm, you can benefit from greater bench strength, more people in your practice area, exposure to new clients, and increased cross-border transactions or clients.” She emphasizes that the main things to be aware of in a merger are how it can impact your pathway to partnership, the firm’s culture, hours and resources. Adding that a merger may allow you to access better bonuses and a better brand platform, Szymczak caveats that “this can certainly cut both ways.” For example, “in instances where some of these high-end boutiques are absorbed, that sort of takes away an opportunity from an associate who wants to work at a smaller, highly Chambers-ranked firm.”

"A good recruiter with solid intel can be really useful through the process of deciding whether you should stay or seek a lateral move.”

Therefore, this is just another added benefit to working with a recruiter, she says; “they have the market knowledge, the intel on your current firm, the result of what it will look like after the merger, what compensation looks like, and who the main partners will be that you would be working with. A good recruiter with solid intel can be really useful through the process of deciding whether you should stay or seek a lateral move.” Further, “not everyone survives the merger, so again, that’s why it’s really important to work with a recruiter to understand the newly formed office and how to navigate any potential pitfalls.”

The number of mergers currently taking place in the Midwest is creating an opportunity for associates and partners to join a growing presence. “Obviously the firm is invested in that office, in that location, building it out and building it up,” contemplates Szymczak, “so you’ll be somewhere you know is being invested in. It also presents the chance to be a marquee player, which offers you a greater chance at partnership.” She stresses, “The opportunity is very much here, with new firms coming in.” This is especially pertinent at firms like Orrick, she elaborates, which are looking to deepen its bench in the Midwest.

Through these mergers, “a lot of firms were able to enter the AmLaw 200,” states Szymczak, “Chicago saw the second highest number of Top 200 firm entrances in the last year.” Seems like it is certainly an exciting time to practice in the Midwest! 

Movement in the Midwest

As we would expect from the plethora of mergers, there has been more than a fair amount of lateral movement in the Midwest over the past year. Atassi tells us that in the last year alone, there have been a staggering 537 lateral moves in just Chicago, the largest volume of which were from those practicing in litigation and corporate. Out of these 537, there were 148 partner, 67 counsel and 322 associate moves.

In fact, litigation was the practice area with the most lateral movements in Ohio, Minnesota and Michigan, according to Atassi. Corporate, labor and employment, real estate, and IP were the other front runners across the Midwestern states. Hyde adds that the private credit space is also looking to hire mid-level associates to handle influxes of work: “It is always a good sign when the hiring is going on there, because it’s an indication that the economy’s going in a good direction.” Further, regulatory changes have driven demand in antitrust litigation, as Hyde notes, and Goldberg jumps in to share that hiring in IP, technology, and data privacy will continue to increase “as AI becomes more of a real situation in the legal space.”

“Firms are being more selective than they used to be in terms of the level of experience."

In terms of what firms are looking for, Goldberg details, “Firms are being more selective than they used to be in terms of the level of experience. I’m seeing a lot of need for fifth year associates especially on the corporate side, as well as associates who can come in, manage clients, start to run deals, and take on responsibility.” In litigation especially, “they are looking for all levels – from junior to senior.”

Making it in the Midwest

Of course, we had to ask our experts how best to make a successful lateral move. Hyde lays out the land for us, explaining that one of the most beneficial things you can do is get a good market evaluation. “I would try to do this before your fifth year,” he ponders, “From then, you want the associates to have some years at the firm to develop and train before they get to partnership, so it is good to move a few years ahead. Laterally, it can be a bit more of a challenge to place a sixth or seventh year, just because you want to have the opportunity to work at the firm a few years prior to getting to that partnership threshold.” Moving as early as possible is especially pertinent if an associate wants to move practice areas, and in this instance, Hyde informs us that he sees lateral hiring as early as after one full year of experience.

So, what skills and experience can differentiate you as a candidate? “Working on as many substantive matters as you can” is the best thing you can do, Hyde shares, and working on “the more primary document drafting, and if not that, ancillary document drafting is really helpful” too. On the litigation side, “drafting motions, court appearances and deposition preparation are really valued.” Goldberg agrees, pointing out that “in any practice area, having experience leading and working with clients is intangible. Possessing the work ethic to get things done and being trusted to speak with clients always makes a candidate more marketable.” This was echoed by Atassi: “The more responsibility they can take on, the more autonomous they can be in their work. The more specialized they are in their skills, the more they can set themselves apart from other candidates.”

"We can help coach a candidate through an interview, target their resume, and suggest the right firms for them.”

Goldberg reflects, “When working with a recruiter, we are really able to pick those things out and highlight them when we submit a candidate. These things don’t jump off a resume, but we can really help sell them.” Additionally, she enthuses that working with a trusted legal recruiter is a great way to get a sense of the market, explaining that “it can be really beneficial to work with somebody local who has deep market specific knowledge and relationships with the firms.” She then laughs, “Anyone can look at a job listing! But in Chicago, Kansas City, St. Louis, I know the boutique firms. I know the hiring processes, I know their personalities, and I know what type of candidate they are looking for.” Rounding out our conversation, she concludes that this is especially important when a candidate who may not have the ‘perfect resume’ is looking to relocate or change to a new practice area: “We can market them a little differently. We can help coach a candidate through an interview, target their resume, and suggest the right firms for them.”

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