New York
New York is the centre of gravity for US BigLaw. The concentration of elite firms, the deal flow, and the compensation levels make it the most competitive lateral market in the country — and the one with the most opportunity for lawyers who are ready to move.
The New York lateral market is dominated by M&A, finance, private equity, and litigation. The AmLaw 20 firms are almost all headquartered or heavily centred here, and they move quickly when they identify the right candidate. Salaries track the Cravath scale, with senior associates and counsel at top firms earning well above $400k all-in.
Competition for the best lateral candidates in New York is fierce. Firms frequently lose searches because they move too slowly. For candidates, that means leverage — if your background is strong, you likely have more options than you think.
Washington DC
The regulatory and government centre of the US legal market
Washington DC is unlike any other US legal market. Government and regulatory work defines it — from antitrust and securities enforcement through to white collar defence, government contracts, and appellate litigation.
The DC lateral market is consistently active across litigation, antitrust, employment, and regulatory practices. Former government lawyers — DOJ, FTC, SEC, CFPB — move extremely well into private practice here. If you have agency background, DC is the market where it translates most directly into opportunity.
Compensation in DC tracks slightly below New York at the very top end, but the work and the quality of firms is genuinely comparable. Work-life balance tends to be marginally better than New York across comparable firms.
San Francisco
The technology and venture capital hub of US private practice
San Francisco — and the Bay Area more broadly — is defined by technology. M&A, private equity, venture capital, IP, and emerging company work dominate the market.
The SF lateral market rewards lawyers with genuine tech sector exposure — deals involving software companies, platform businesses, semiconductor firms, or life sciences. Generalist transactional backgrounds from New York firms can translate well, but SF firms increasingly want candidates who understand the sector, not just the deal structure.
Compensation in San Francisco typically matches New York at the top firms. The culture tends to be more informal than New York, which is both a draw and a genuine difference in working style.
Chicago
The Midwest's premier legal market with a distinctive character of its own
Chicago is the third-largest legal market in the US and has a distinct identity — less dominated by a single sector than New York or San Francisco, with strong M&A, litigation, antitrust, restructuring, and finance practices all coexisting at the top firms.
The Chicago lateral market is competitive but slightly less frenetic than New York. Firms here tend to move more deliberately, which can mean a more thorough process but also a more considered outcome.
Compensation in Chicago has largely converged with the Cravath scale at major firms over the past few years. The cost of living differential makes Chicago a genuinely attractive option for lawyers weighing up the full picture.
Los Angeles
Los Angeles has grown significantly as a legal market over the past decade. Entertainment and media remain distinctive sectors, but the rise of tech, private equity, and real estate has broadened the LA market considerably.
The LA lateral market is less centrally concentrated than New York — the city's geography means different firm clusters in Century City, Downtown, and Santa Monica. M&A, entertainment, real estate, litigation, and IP are the most active practice areas for lateral hires.
Compensation at the major firms tracks the Cravath scale, and the cost of living — while high — is generally more manageable than New York. The market is growing, which means firms here are often more open to lateral hires than their NY counterparts.
Houston
The energy capital of the US — and a specialist legal market to match
Houston is the energy law capital of the United States. If you work in energy, projects, finance, or restructuring with an energy angle, Houston is the market where your experience translates most directly.
Beyond energy, Houston has a substantial M&A and finance market driven by the energy sector's transaction activity. Restructuring has historically been very active here — energy company distress cycles generate sustained demand for strong restructuring lawyers.
Compensation in Houston tracks at or slightly below the Cravath scale in some firms, but the cost of living differential is significant. Net compensation for a senior associate in Houston can compare very favourably to a New York equivalent once living costs are factored in.
