Cozen O'Connor, No Offers

Nationwide No Offer Watch: Finishing Up The Philly Circuit

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We have reported extensively on the difficult offer situation for people who summered at Philadelphia area firms in 2009. Morgan Lewis & Bockius had an offer rate below 28%. Pepper Hamilton offered about 63% of its summers. Dechert told half of its summers that the firm would wait until January to make a decision offers, yet continues to interview 3Ls this recruiting season.
Let’s close the loop on the Philadelphia market with two other well known firms: Drinker Biddle and Cozen O’Connor. The Legal Intelligencer reports that Drinker Biddle did slightly better than its area competition:

The firm gave offers to about 68 percent, or 25, of the 37 2L summer associates it had firmwide in 2009. The offer rate was about the same in Philadelphia, where 13 of the 19 2Ls received offers, the firm confirmed.

After the jump, Drinker Biddle chairman, Alfy Putnam, explains the firm’s decision.


Above the Law reached out to Drinker Biddle about the firm’s offer rate. Here is part of Alfy Putnam’s response:

We wish we could have made more offers, but our current anticipated needs for the fall of 2010 did not support additional offers of employment. We always try to size our summer program to fit our needs and to be in a position to offer jobs to all qualified summer associates. Of course, economic conditions were different when we were filling our 2009 summer program, and it was clear well before the summer began that we would not be able to offer all the 2009 summer associates positions for the fall of 2010. As it turned out, by September we were actually able to make more offers than we thought might be the case when the summer associates arrived in May. We have adjusted our hiring expectations for next year’s summer class, interviews for which are currently underway.

You can read the full Drinker Biddle statement below.
It is worth noting that despite the firm’s offer rate, it is still starting all of its incoming associates on time. You’ll remember that Drinker Biddle introduced a new training program for its incoming associates. Those first years will see a reduction in salary, but also a reduction in billable hours. To appease clients, the firm will reduce the rates it charges for first year time.
Finally, tipsters report the offer news from Cozen O’Connor:

Philly-based Cozen O’Connor extended offers to 12 of its 16 summer associates, and 14 of 18 firmwide (2 summers in Seattle). The decision came down one week after Drinker Biddle, another Philly-based firm, announced it was offering jobs to 68% of its summer associates. Drinker’s news came days after Pepper Hamilton, yet another city firm, announced its 50% offer rate.
It may be that some of the Philly firms were playing a savvy numbers game, waiting to see what the offer rate would be at other city firms, then making just enough offers to top the prior firm’s rate.

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However they got there, a 75% offer rate in Philadelphia sounds awesome. We assume that 2009 summers at Cozen are pleased, relative to how the summer went for their colleagues in the city of brotherly love.
Good luck to all of our friends in Philadelphia. Remember nobody can ever take this away from you.
DRINKER BIDDLE — STATEMENT — OFFER RATES
We can confirm that our offer rate for summer associates for what will be our Class of 2010 was 68 percent.
We wish we could have made more offers, but our current anticipated needs for the fall of 2010 did not support additional offers of employment. We always try to size our summer program to fit our needs and to be in a position to offer jobs to all qualified summer associates. Of course, economic conditions were different when we were filling our 2009 summer program, and it was clear well before the summer began that we would not be able to offer all the 2009 summer associates positions for the fall of 2010. As it turned out, by September we were actually able to make more offers than we thought might be the case when the summer associates arrived in May. We have adjusted our hiring expectations for next year’s summer class, interviews for which are currently underway.
We’re looking forward to seeing the members of this year’s summer class in September 2010. We’re also busy now with final preparations for our incoming fall associates, who start on September 29 with the intensive six-month training program that we’ve designed for them.
Ultimately, our decisions are driven by our desire to provide the best service and lawyers for our clients. Notwithstanding conventional wisdom, we do not agree that law firms can eliminate or defer several years of younger, talented lawyers and still expect to serve their clients effectively in the long run. We believe that what we are doing is not only good for our clients, but also good for our firm and for the profession as a whole.
Drinker Biddle Makes Offers to Two-Thirds of Summer Class [Legal Intelligencer]
Earlier: Morgan Lewis No Offer Follow Up
Nationwide No Offer Watch: At Least Pepper Hamilton Breaks 50%
Nationwide No Offer Watch: Is Dechert Trying to ‘Trade-Up’ Its Summer Class?
Salary Cut Watch: Drinker Biddle Cuts Salaries AND Rates

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