J. William Dantzler Jr.

Meet the new Biglaw. Same as the old Biglaw.

As we mentioned in Morning Docket, the Wall Street Journal has a good article about how various recession-era cutbacks have become entrenched in Biglaw. If you have been paying attention or are a current law student, you know the issues: smaller entry-level classes, stagnant salaries, and a partnership track long enough to make a first-year Ph.D. student laugh.

Basically, if you were already a Biglaw partner when the recession hit, you are likely to say, “What recession?” Your profits per partner have probably gone up, despite the general economy’s woes. Other industries use economic downturns to retool their business models and develop new ways to compete. Not Biglaw. It appears that Biglaw has used the recession to fire a bunch of people, exclude new partners, and keep associate salaries and bonuses at recessionary levels. They haven’t developed a new business model; they’ve just found a way to reduce the costs of the old business model.

Biglaw partner: It’s great work if you can get it. The WSJ even found one partner who was so busy loving himself and his life that he appears to be totally oblivious to the struggles of everybody else…

double red triangle arrows Continue reading “Biglaw’s New Normal Isn’t Great For New Talent”