In Q1 2016, Major, Lindsey & Africa commissioned Acritas Research to survey recent lateral movers in the London market. In total, 2,073 laterals were invited to take part in a web-based survey between March 17 and April 26, 2016. The laterals were drawn from City firms whose PEP was in excess of £400,000. In total, 176 partners responded representing an 8.5% completion rate—a strong response for a survey of this nature. The survey focussed on the factors driving lateral moves, both in terms of firm attraction and reasons for leaving. Financial considerations such as remuneration, equity position, originations and referrals were also addressed, and furthermore, the survey assessed firms' efforts to integrate new partners and partners reflections on whether the move had met their expectation.
The report includes:
- Why partners left their former firms, and what attracted them to their current firms.
- How significant firm culture was in their decision to move.
- What firms are doing to integrate laterals, and how successful they have been to-date.