Missing: multiple midlevels

Even though there’s significant excess capacity — meaning too many lawyers chasing too little work — I am hearing the concern that there aren’t enough midlevel associates.

Dan DiPietro, chairman of the Citi Private Bank Law Firm Group, offering an explanation as to why he thinks Biglaw firms want to increase headcount in this time of economic stress. In the latest Law Watch Managing Partner Confidence Index Survey, law firm leaders’ overall confidence level was lower than it has been since last year at this time, with expectations for profits and revenues also on the decline. The only area where their confidence rose was in expectations for hiring associates and equity partners.


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