Texas has some stereotypes attached to it, but it’s not all steak, big hair, and cowboy boots. Texas has four major, bustling, and diverse big city centers, is home to many Am Law 100s and Fortune 100s, and has a booming technology hub in Austin. Texas has great associate talent, but the number of associates in Texas has not kept up with the recent growth, which is why we see attorneys flocking here from both coasts. If that’s not enough to wet your whistle for Texas, here are five solid reasons to consider Texas.
1. Flurry of New Office Openings
Texas has attracted unprecedented growth in the form of Am Law ranked firms planting flags. Over the last five years, over 40 Am Law 200 firms have opened offices in Dallas, Austin or Houston. Some of the newest firms to the Texas market include Womble Bond Dickinson, White & Case, Kirkland & Ellis and Shearman & Sterling (to name a few).
|-Barnes & Thornburg
|-Spencer Fane||-Winston & Strawn
|-Foley & Lardner
-Kirkland & Ellis
-Kirkland & Ellis
-Arnold & Porter
|Holland & Knight||-Orrick, Herrington & Sutcliffe
|-White & Case
-Shearman & Sterling
-Foley & Lardner
|-Tulley Rinckey||-Shearman & Sterling
2. Top Compensation and NO State Income Taxes
In an effort to compete with talent on the east and west coasts, most national and international firms in Texas pay “Cravath” salaries (or very close to it). Since the cost of living in Texas is extremely low, you’ll get more bang for your buck. Imagine it with me: muuuuuccch lower mortgage/rent, lower childcare costs, lower energy and food staples, and NO STATE INCOME TAXES. You can funnel all the extra money to paying off your student loans or buying a yacht. It’s your life!
3. Thriving Market
Have I mentioned the Texas legal market is super busy? Dozens of companies have relocated their headquarters to Texas during the past couple years which means more sophisticated legal work for attorneys here. In 2018, firms made approximately 560 associate hires. Firms that did the most hiring included Kirkland & Ellis, DLA Piper, and Vinson & Elkins. The busiest practice areas should come to no surprise – corporate/mergers and acquisitions, finance, and energy.
4. Abundance of Affordable Real Estate
Your family can live in a GIGANTIC house or a cool spacious loft in Midtown. You can have a lawn, maybe a dog, perhaps a llama or two. You can have a king-size bed in your guest room. Dream big!
5. People and Community
Texans are amazing. Well, most of them. Several counties in Texas (around major cities) are some of the most diverse in the country. Texas is full of world-class museums, theatres, art, and festivals. We have AMAZING food from every corner of the world. There are wineries, breweries, state parks, deserts, mountains, hills, oceans. It’s all here!
In summary, the Texas legal market is flourishing, with available positions for associates of all practices and seniority levels. Law firms are very open and HAPPY to relocate candidates. If you are interested in hearing more about the Texas market, please feel to reach out to me at WendyBoone@laterallink.com.