The recruiting season for 2Ls — scooped up by law firms eager to hire them as summer associates, fatten them up at fancy lunches, and get them addicted to a luxury lifestyle — is pretty much over. So now is a good time to take stock of who fared well (and who didn’t).
From a tipster at Sidley Austin (New York):
On its internal site for new summers, the firm releases the list of incoming 2008 summer associate class. It is 38 people long, and one has to assume hiring has likely ended. The list from last year was accessible until recently, and that list was 62 people long. Additionally, NALP data shows the firm’s NYC office had 58 and 54 summers in 2005 and 2006 respectively.
The significant drop in number of incoming summer associates this summer may be a proxy for the economic health of the firm. In a way, it is positive, because it indicates a proactive measure on the part of firm. That is, they aren’t going to risk bringing aboard more summers than they can hire; chances of not getting an offer due to a downturn in business are much lower.
That’s an optimistic take. Most people would read a drop in summer associate class size as a sign of declining recruiting appeal or “mojo” among law students. Saint-cum-superman Barack Obama met his wife while summering at Sidley. Was that fact not enough to sway recruits?
Update: We have contacted the firm for comment and are waiting to hear back from them.
Here are some other things we’ve been hearing (mere rumors, so take with a grain of salt):
1. Wiley Rein: vastly oversubscribed, perhaps due to their topping the Am Law 100 in profits per partner, thanks to the RIM / Blackberry settlement.
3. Kirkland & Ellis: a somewhat lower yield than usual. Some people blame us, but we’ve offered both sides of the story. We also give K&E lots of props around here for their generous bonuses (and awesome summer associates).
So, if you know: How did your firm do in the summer associate sweepstakes? Please discuss, in the comments (or send us email if you prefer). Thanks.
Further Update: Some tips we received via email, after the jump.
1. Sullivan & Cromwell (New York):
S&C expects a record class this coming summer (over 130 acceptances), albeit a record low from Columbia — somewhere around 8 or 9. Last year, S&C has a summer class of around 110, about 18 of which were from Columbia.
2. Mayer Brown (Chicago):
Recruiting at Mayer Brown Chicago went very well, which we consider quite an accomplishment with all of the negative press the firm had in 2007. The Chicago office will end up around 75 summers (including about 10 returnees, but excluding about 10 additional pre-clerks), with significant gains in top law schools from last year. This is coming on the heels of MB Chicago being highly ranked in AmLaw’s summer associate survey (highest of all the top Chicago firms — see here).