🛅 The next huge legal market is...Charlotte?
For a significant amount of lawyers, the last four months have meant working from anywhere, with many leaving behind traditional legal centers like New York City. But how long can it last?
Escape from New York: Roughly 5% of NYC residents left the city between March and May, the vast majority of them in wealthy neighborhoods like the Upper East Side and Brooklyn Heights. Although there’s been no study on lawyers specifically, industry analysts say that especially young attorneys fled New York, Los Angeles and San Francisco, often to be closer to family and friends, according to Law360.
They want to stay remote, too: Nearly 70% of lawyers and legal staff, from a survey of 25 firms, recently said they wanted to be remote at least part of the time when the pandemic ends.
But the boss may have other ideas: The desire to work far from an office location will be tested by any young lawyer’s hopes of rising up the ranks. SF-based recruiter Daren Wein told Law360 that powerful partners will convince many associates into staying around the office. “The fact that people can do work remotely doesn't mean that they will get that work once they leave town," Wein said.
The rise of the mid-level firms
For those who really want to get away, mid-level firms and independent practices are likely to be enticing. Either that or large firms and companies may consider downsizing in places like New York and Los Angeles -- and opening up office branches in Charlotte, Denver, Nashville and other midsize cities.
We likely won’t know how serious people are about moving away from big cities for another year or two. But companies may be smart to snag some extra real estate in Charlotte just in case.