NALP

We haven’t had a good New York to 190 post in a while, and maybe there’s a reason for that. While many associates (and partners) feel that they’re long overdue for a raise, starting salaries have grown stagnant in New York — and across the country, for that matter. Remember back in 2007 when we first reported that Simpson Thacher raised incoming associates’ base salaries to $160,000? That was five years ago, and these days, you’ll be lucky if you’re making what you would’ve been taking home before that $15K salary bump.

While that $160K sweet spot for first-years is still the norm in many large markets, it’s no longer as widespread as it once was. In fact, that figure represents only 46 percent of first-year salaries in firms with more than 700 lawyers — and that percentage has been on a steady decline since 2009, when layoffs and terror ran rampant in Biglaw.

Sorry about that tiny pink paycheck of yours….

double red triangle arrows Continue reading “New York to $190K? Keep Dreaming! New NALP Report Says Median Associate Salaries Have Slumped”

Don’t look so sad; it is possible to bounce back from a career setback.

Last week we covered news of associate layoffs and summer associate no-offers over at Winston & Strawn. We heard primarily from sources who were upset over the news, and because the firm declined to comment on personnel matters, we didn’t hear Winston’s side of the story. But now, thanks to some helpful sources, we have a few pro-Winston comments that we will now share.

First, the number of “stealth layoff” victims may have been overstated. According to word on the street among Chicago associates, “while some people were let go, 30 seems pretty high.”

Second, it seems the layoffs were focused in Chicago; other offices may have escaped relatively unscathed. According to a source in Winston’s New York office, “nobody has heard about layoffs” there.

Third, the changes to the timing of associate reviews — which were viewed by some as ominous, perhaps laying the groundwork for additional cuts — may actually be quite innocent. Said a source: “The review cycle was also moved forward for some classes and back for others, but it is part of a general re-vamp of the evaluation process, and I’m not convinced there are any sinister motives behind it.”

Fourth, although the firm’s Chicago office doled out a relatively high number of no-offers — about 10 out of 30 summer associates did not get offers of permanent employment — we hear that this was primarily a Chicago phenomenon. As noted by a commenter, “The offer percentages are, to the best of my knowledge, significantly higher in the other offices.”

Of course, after our story we also received additional criticism of Winston, to which we now turn….

Please note the addition of multiple UPDATES, after the jump.

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Last month, the National Association for Law Placement (NALP) released information about the overall employment rate for the class of 2011 — information that seemed dismal, at best. The American Bar Association then followed up with its own employment data, and it was “just as dire” as everyone expected, if not worse.

We know that the overall employment rate for the class of 2011 is lower than it’s been in 17 years. But even members of the class of 2011 who managed to secure employment have been screwed. Median starting salaries for new law school graduates have dropped by 35% over the past two years.

Since prospective law students are not great with facts and numbers, NALP was kind enough to put together some pretty pictures to help people understand….

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We try to provide some balance in our coverage of law schools. Last night, for example, we posted our latest round of law school success stories, to balance some of the more depressing fare in our pages — such as the $10K a year lawyer job being offered to Boston College Law School students, which the law school defended vigorously.

At the same time, we have to report the reality that’s before us. And that reality isn’t always pretty.

Which brings us to today’s topic, the latest employment data from our friends at the National Association for Law Placement (NALP)….

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Well, I’m back in New York. It’s cold, it’s rainy, there’s no barbecue, and I’ve been sober for hours. Austin, I miss you already.

But I wasn’t in Austin to have tremendous fun, good food, and become introduced to this new concept of “closing” that doesn’t really exist in NYC. There was a conference to attend, and I’m here to report on how to get a job at a small law firm.

Because chances are, the career counselors at your law school aren’t really going to be able to help you.

At NALP 2012, I attended a panel called: “Raising Your School’s Profile in the Land of Opportunity: The Smaller Firm Market.” I figured the room would be overflowing, considering smaller firms are the only firms where hiring is on the rise. But the panel was just regularly attended, not “holy God, missing this would be a dereliction of my duty” attended (only panels with the words “social media” in the name needed overflow seating). The presenters were knowledgeable, and the attendees were eager to learn, but it seems that way too many schools are still stuck in a Biglaw or bust model that isn’t responding to the new hiring realities for most students….

double red triangle arrows Continue reading “NALP 2012: Does Your School Even Know How to Get You a Small Firm Job?”

This is Elie Mystal, coming to you live from Austin, Texas, and the 2012 conference of the National Association of Law Placement. It’s my favorite annual conference, because every year, NALP just gets all the law school career services officers and all the law firm recruiters in a room, and tells them all the trends in legal hiring. We’re not talking about anecdotal evidence or law firm spin. It’s the one time each year we get to look at some hard numbers.

And in case you live under a rock, let me tell that every year since the recession, the numbers get more and more terrible. Looking at some of these statistics is as close as you can come to physically witnessing a dream die a horrible, mangled death.

This year, the numbers are worse than ever! And that’s the good news. NALP’s Executive Director, Jim Leipold, thinks that we’ve probably “hit the bottom” in terms of new associate hiring, with the class of 2011 suffering the absolute nadir of this process. While he doesn’t know if things will get significantly better any time soon, he figures they pretty much can’t get any worse.

Yay!

Does anybody want to hear the bad news?

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As we noted in Morning Docket today, Law School Transparency (LST) wrote to all law schools accredited by the American Bar Association to request the NALP reports for the class of 2010. The NALP reports contain much more detail than that of the reports released by the ABA, such as information concerning part-time and temporary employment, as well as the number of graduates in jobs that do not require a law degree.

LST’s request was made on December 14, 2011. Two months later, LST has presented the results of that request, and the organization has made some significant strides since it first attempted to collect data back in July 2010. This time around, 34 law schools provided their NALP reports, either by sending them directly to LST, or posting them on their websites.

But which schools provided LST with the information? And which schools are still avoiding action?

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* Chris Christie, you’re making me ashamed to be a Jersey girl. Please allow our state be known for something besides the disgrace that is the Jersey Shore. Just sign the damn bill. [New York Times]

* A Biglaw firm that’s got some Seoul: Clifford Chance is the first firm from the United Kingdom — and the first foreign firm — to file a formal application to open an office in South Korea. [American Lawyer]

* Holland & Knight scored a half-million dollar contract to negotiate a deal for a new Massachusetts casino. Instead of giving out spring bonuses, the firm threw a big party to celebrate. [Boston Herald]

* “I am convinced that [he] was given an intentionally defective bomb . . . to stage a false terrorist attack.” This is what a Cooley Law grad said during the Underwear Bomber’s sentencing hearing. Figures. [ABC News]

* 32 law schools provided Law School Transparency with their NALP reports for the class of 2010. Remember when just one school was willing to provide data, and then reneged? [Thomson Reuters News & Insight]

The National Association for Law Placement (NALP) has produced an extremely useful chart for people trying to figure out where to start their Biglaw careers. They’ve listed the cities that give you the most bang for your buck if you land a high paying Biglaw job.

And boy, are New York City associates going to feel stupid.

The NALP “buying power index” sets New York as the baseline. It takes the median starting salary for the class of 2010 and the NYC cost of living index and sets that figure at 1.00. Cities with a better purchasing power than NYC have a value greater than 1.00.

New York ranks #42.

Most of the high-ranking cities also have the benefit of warmth….

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Welcome to our latest round-up of summer associate offer rate news. This post contains the latest list of law firms and offices with 100 percent offer rates. In future posts, we’re going to shift gears and focus on firms with lower-than-average offer rates.

An offer rate that’s lower than 100 percent is not necessarily newsworthy. The fall recruiting process by which summer associates are selected isn’t perfect. Sometimes candidates look great on paper and do well during interviews, but then do something during the summer — turning in disappointing work product, getting drunk and acting inappropriately — that causes them to get no-offered. And sometimes people get no-offered for reasons that aren’t their fault — office politics, discrimination. Stuff happens.

We’re not expecting 100 percent offer rates all around. At the same time, there is such a thing as an unusually low offer rate. If you know of an office with an unusually low offer rate — which we will arbitrarily define here as something under 66 percent, or two-thirds — please email us (subject line: “[Firm Name] Offer Rate”).

Now, on to the updated list of firms and offices with 100 percent offer rates….

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(Now we’d like to hear about the no-offering….)

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