The practice of offering employment to a predetermined, fixed number of newly minted law school grads at the end of each summer is based on the expectation of a corresponding level of attrition from more senior attorneys.
Many of us, though, anticipated that the current sea of churning economic uncertainty would result in far fewer senior staffers choosing to jump ship. Fewer empty deck chairs would mean fewer new hires, especially with many firms working to trim overall headcount.
Well, those predictions are now actuality.
The ABA Journal reported this last week that many large firms are delaying job offers to summer associates.
This comes as especially unwelcome news to current second year law students after last week's reports that many large firms a scaling way back (or even eliminating) their 2010 summer apprenticeship programs and recruiting.
Again, according to the ABA Journal:
• "Skadden, Arps, Slate, Meagher & Flom has cut the size of its 2010 summer program by more than half.
• Morgan, Lewis & Bockius has canceled its summer program and all on-campus recruiting.
• DLA Piper and Orrick, Herrington & Sutcliffe have postponed recruiting.
• Law firms opting against interviews at Yale include Baker & McKenzie; Milbank, Tweed, Hadley, & McCloy; and White & Case.
• Law firm interviews are down by a third or a half at New York University, Georgetown, Northwestern and other top law schools. It’s even worse at lower-ranked schools."
The wrinkle here is that this will leave organizations top heavy with more senior attorneys, causing dispraportionate billing fees for associate level work, potentially creating further demand for "virtual associates" available through LPOs.
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