But last Friday's article in the Boston Business Journal indicates a far more systematic revisiting of the entire recruitment model, and at an even faster pace than previously noted.
The BBJ's title says a lot: Traditional Associate System Collapsing Under Economic Pressure.
According to the article: "Many law firm leaders now are taking the time to rethink the recruitment process soup-to-nuts, from pondering the wisdom of summer programs to slashing first-year salaries."
You know it's significant when the article is peppered with quotes like:
“It is antiquated. It just does not make economic sense. It does not make good business sense,” said John V. Snellings, hiring partner at Nixon Peabody LLP
“The age-old system hit a brick wall with the sharp downturn,” said Brian Bickerton, partner at legal staffing firm Major, Lindsey & Africa. “Never before has there been any kind of real consideration by firms to change the ways they recruit and hire."
“My guts says that there are bigger changes coming,” said Randi Friedman, assistant dean at Northeastern University School of Law. “It’s going to be the beginning of a new era."
“I spend a lot of time out in the world talking to clients. One thing I hear over and over again is that they are not willing to pay the kinds of hourly rates for young associates that they used to,” said Walter G.D. Reed, managing partner of Edwards Angell Palmer & Dodge. “Either we’re going to have to come up with a new way of pricing our services or we’re going to have to figure out a different way of bringing young lawyers along.”
It's a refrain that's becoming more and more familiar. 1) The historic summer associate/hiring pattern is based on little other than tradition at this point. 2) Clients are less and less willing to pay large hourly fees for associate-level work.
Now, for the first time, large firms seem to be legitimately open to evaluating new approaches to associate-level work.
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