Build vs Buy:
- Published August 2026
- Published August 2026
- Partner Recruitment
- Talent Strategy
How Should Law Firms Grow
a Practice Area and Where
Should You Build Your Career?
LEGAL TALENT INSIGHTS
There are two ways to build exceptional legal teams: recruit proven talent or develop future leaders from within.The right strategy depends on your goals, your market, and your timeline.
Two Paths.
One Strategic Decision.
Every growing practice reaches the same crossroads: Build exceptional lawyers over time, or buy exceptional lawyers today.
BUY
Immediate Growth
- Lateral recruitment
- Existing client relationships
- Fast market entry
- Instant credibility
vs
BUILD
Long-Term Investment
- Internal development
- Homegrown leadership
- Stronger culture
- Sustainable growth
Buying Talent
The Fastest Route to Market
For firms, lateral hiring is the quickest way to grow, bringing in a rainmaker can grant instant access to a book of business, potentially gaining a ranked team the moment they start. This is crucial when entering a new region; firms set up shop with purpose and a plan to tap into the booming practice areas that come with client proximity.
Firms don’t just pay for technical expertise; they buy relationships, market knowledge, and credibility that can’t be built overnight.
CASE STUDY
Simpson Thacher & Bartlett
Hired Ryan Cox, Payson Lyman, and Joshua Mony from Akin Gump Strauss Hauer & Feld.
Instant credibility in the Hydro Capital space
Ryan Cox joins their new Dallas office
20 years of Texas market knowledge and relationships
Why Firms Buy
Immediate credibility
Portable client relationships
Technical expertise
Market knowledge
New office launches
The Risks of Buying
Technical excellence doesn't always guarantee cultural success.
Culture Fit
Different ways of working can make integration challenging.
Integration
New hires need time to embed into teams and client relationships.
Client Portability
Relationships are often personal, not institutional. Business may not follow.
Conflicts of Interest
Lateral hires can create conflicts that may exclude existing clients.
Building Talent
The Long Game
Growing a practice area organically means investing in lawyers already inside the building, training associates and promoting from within.
It’s a slower path, but one that builds a pipeline of talent, strengthens culture, and creates long-term loyalty.
Associate
Senior Associate
Counsel
Partner
Practice Leader
Slaughter and May
The Homegrown Model
The firm generally doesn’t elect anyone from outside the firm directly into partnership and has made only two lateral partner hires in its entire history.
Homegrown
Partners
Lockstep
Structure
Long-Term
Loyalty
Highest PEP
in London
A model built on unity, consistency, and decades of working together.
The Challenges of Building
Slower Growth
Takes years to achieve what a lateral hire can deliver overnight.
No Guarantee
Not every investment develops into a ranked partner.
Competition
Top talent may be poached before the investment is realised.
Market Pressure
Fast-moving markets may not allow the luxury of time.
For Candidates: Established or Emerging?
- Established Team
Benefits
- Proven track record & existing client base
- Stronger mentorship & deep bench
- Clear structure & defined processes
- More predictable compensation
Considerations
- More competition for advancement
- Established hierarchy
- Less room to stand out early
VS
- Growing Team
Benefits
- More responsibility sooner
- Direct exposure to clients & partners
- Shape the practice area
- Aggressive pay & promotion potential
Considerations
- Thinner mentorship
- Practice reputation still developing
- Higher risk if team doesn't gain traction
It comes down to what you’re optimising for at this stage in your career.
Which Path
Fits You?
Conclusion
For both firms and candidates, there’s no universal right answer.
Buying gets a practice area up and running quickly, bringing in proven talent and client relationships. Building takes longer, but creates deeper culture, loyalty, and long-term value.
What matters most is knowing what you’re optimising for and having the right information to make that call properly.
The right strategy isn’t about choosing between build or buy. It’s about choosing what’s right for you.
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