Job Searches, Job Survey

Associate Life Survey: Looking For A New Job?

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We received 964 responses to our ATL / Lateral Link survey on whether you’re looking for work, and one thing is pretty clear: if you’re a 2L right now, there’s a pretty good chance that the associates you meet in your callbacks don’t actually want to be there.

A whopping 45% of respondents who had been practicing for at least a year said that they were either already looking for a new job or about to start their search.

Specifically,

  • 27% said they were looking for a new job right now,
  • 12% said they were getting their resumes ready, and
  • 6% plan to get their resumes ready just as soon as they receive their bonus checks.

But not everybody’s looking to leave right now. Another 14% of practitioners said that they weren’t planning on looking for a new job . . . because they had just started one.

Even among incoming associates, there was a surprisingly strong tendency toward jumping ship. 14% of respondents in the Class of 2008 are already looking for new jobs, and another 2% are getting their resumes ready.

And third-year law students are also looking around, as 28% of 3L’s said they were interviewing again this fall. Of these, 62% said they were no-offered, and another 5% said they received a cold offer from their summer employer.

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Are You Looking For A New Job Right Now? Breakdown By Class

Class

Yes      
I’m getting my    
resume ready.    		 I’ll get my resume    
ready once I    
get my bonus.    		 No, I just accepted    
an offer or    
started a new job.    
Before 2000   40% 18% – 18%
2000 25% – – 25%
2001 28% 4% 4% 14%
2002 40% 9% 3% 20%
2003 36% 8% 6% 8%
2004 21% 21% 9% 10%
2005 24% 14% 8% 23%
2006 30% 9% 8% 12%
2007 24% 11% 7% 9%
2008 15% 3% – 67%
2009 28% 2% – 66%

Additional discussion, including a breakdown by practice area, after the jump.


Labor and employment lawyers were the most likely to be interviewing for new jobs right now, followed by patent attorneys. Structured finance associates were the most likely to be updating their resumes in the hope of swapping jobs in the near future. Securities and executive comp associates were the most likely to wait until after their bonuses.

Are You Looking For A New Job Right Now? Breakdown By Practice Area

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Practice

Yes      
I’m getting my    
resume ready.    		 I’ll get my resume    
ready once I    
get my bonus.    		 No, I just accepted    
an offer or    
started a new job.    
Bankruptcy 15% 5% 5% 29%
Corporate 26% 13% 6% 21%
Employee Benefits & Exec. Comp 10% – 19% 10%
Energy 7% 7% – 27%
Investment Management 17% 9% 9% 17%
Labor & Employment 32% 13% 4% 35%
Litigation 24% 10% 6% 25%
M & A 28% 17% 3% 21%
Patent 30% 6% 6% 21%
Real Estate 19% 16% 4% 16%
Securities 24% 12% 20% 8%
Structured Finance 27% 32% – 11%
Tax 19% 4% – 35%
Trusts & Estates 20% 10% 10% 20%

So, why all the moving?

The majority of respondents, 52%, simply want “a more satisfying practice.” 43% want a better work environment, and 26% want better hours. 31% are just curious about “what else is out there.”

But many associates are driven by concern about their careers if they stay put: 27% said they want to find “better job security.” As one respondent put it:

We’re slow as ass and my mind is turning to mush.

For an unlucky few, jobs are turning to mush, too. 6% of associates — and 11% of structured finance associates — reported that they had already been laid off.

At the same time, though, 22% of associate respondents said they “want better pay.” So, if there’s a silver lining to these numbers, it’s that some associates still believe in gold.

—

Justin Bernold is a Director at Lateral Link, the sponsor of this Associate Life Survey.

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