Die Nestflucht der Großkanzlei-Associates: Warum und wohin?
am 29.02.2008 von Jurabilis
At the 250 largest law firms, the arrows are pointing up for many associate indicators. Summer internships are up. Incoming associate classes are up. Recruiting costs for both summer and first-year associates, in dollars and in partner time, are up. Salaries are up ($160,000!). Bonuses are up ($50,000!). Concierge services are up. Stress management services are up. Twenty-five percent of the 40,000 graduating law students today go to these 250 firms, by some estimates.
But for all this effort, one critical indicator is down. The larger law firms are reported to be losing 30, 40, 50 percent of associates after three to four years -- with half to two-thirds of the defections due to associate, not firm, choice. Where do they go? Smaller firms, more competitive firms in the same city, firms …
Summer Associates: Less Big-Scale Entertaining
Jurabilis / All play and no work. Thats the common conception of summer-associate programs at the nations biggest law firms. For about three months, the thinking goes, the firms bestow upon an anointed crop of law students a taste of the good life. They lunch a…
Why Do So Few Women Reach the Top of Big Law Firms?
Jurabilis / Although the nations law schools for years have been graduating classes that are almost evenly split between men and women, and although firms are absorbing new associates in numbers that largely reflect that balance, something unusual happens to mo…
Mandant zieht die Notbremse
Jurabilis / Wal-Mart hat die Nase voll von ständigen Honorarsatzerhöhungen (jeweils nach den Gehaltserhöhungen für die First-Year-Associates) und fasst die eigene Haltung in einem lesenswerten Memo zusammen (WSJ berichtet):Starting salaries for junior a…
Der Bewerbermarkt
Jurabilis / The most common first-year associate salary at law firms with more than 500 attorneys climbed to $135,000 in 2006, NALP reported. That figure likely was welcome relief for law graduates, whose salaries at those firms were stagnant at $125,000 from 2…
Weihnachtszeit, Bonus-Zeit
Jurabilis / For big-firm associates in New York it may be time to uncork the champagne. This just in: Milbank, Tweed, Hadley & McCloy has announced it is paying year-end associate bonuses ranging from $30,000 for the most junior attorneys up to $65,000. Tha…
Summer Associates Alimentary School
Jurabilis / A free lunch may seem mundane compared to those lavish outings, but in a city that is home to some of the finest dining in the hemisphere, the summer associate lunch is a category of perk unto itself. Since the days when Wall Street lawyers welcome…
Globalisierung ...
Jurabilis / ... ist keine Einbahnstraße:To compete with foreign firms, large domestic Indian firms have been forced to increase pay, either through salary hikes, end-of-year bonuses or promotions. New associates earn around 12 lakh rupees per year, while s…
Mal wieder: Börsennotierte Anwaltskanzleien
Jurabilis / Above The Law-Herausgeber David Lat hat gestern im New York Observer einen kleinen Science-Fiction-Artikel platziert:NEW YORK, March 17, 2009Biglaw, Inc. (NYSE: LAW) today reported net revenues of $462.5 million and net earnings of $205 millio…
American Firms Pay Premium
German American Law Journal :: American Edition / CK - Washington. An Azur overview of salaries paid associates in Germany-located law offices points to premiums paid by America-based law firms. The fall 2006 compensation table list both base and maximum salaries. There are small German firms…
