I know what you did this summer –- so thanks for filling out the 2011 Summer Associate Experience Survey. We’ve highlighted a few more of the unique and memorable summer programs in 2011. For more summer associate program information, check out the updated summer associate program sections of the law firm profiles on the Career Center, sponsored by Lateral Link.

To continue with our summer program superlatives, click on the links below to see if your firm received any accolades….

double red triangle arrows Continue reading “Career Center: 2011 Summer Associate Survey Results (Part 2)”

Now that 2011 summer programs have officially come to an end at Biglaw firms everywhere, law students are returning to their schools a little less naïve about working in Biglaw, a little bloated from all the free food, and seriously missing their fat summer associate paychecks. But how hard did they have to work, and how well were they fed on the firm’s dime?

Here at the Career Center, we know that summer programs are about much more than numbers and stats. So we surveyed summer associates at the top law firms in the country to find out about all aspects of their summer experience. Based on these survey results, brought to you by Lateral Link, we have completely updated the summer associate program sections of the Career Center’s firm profiles.

As befits the end of any school year, we’re also handing out some summer program superlatives to commemorate the 2011 summer class. Click on the links after the jump to see if the firm you work at, or want to work at, made the cut….

double red triangle arrows Continue reading “Career Center: 2011 Summer Associate Survey Results (and Some Summer Program Superlatives)”

I know that all of you have been anxiously awaiting the results of the salary survey. I had envisioned the results post to be equal in excitement to the results shows for American Idol or Dancing With The Stars. Indeed, in anticipation of this monumental post, I commissioned a group of MIT grad students to perform a regression analysis, do a double-blind sampling, and make colorful pie charts. Unfortunately, that dream cannot be realized today. I take partial responsibility for the survey design, but going forward please include salary information if you chose to participate in a salary survey and designate your location with specificity (e.g. not “the South” or “California” or “an NFL market”).

It is not all bad news for you. I have some good news.

The good news:
• A few trends emerged;
• The majority of respondents were unhappy with their compensation (maybe not good, but consistent);
• I can tell you with high accuracy the salary information for a few third year associates in various cities; and
• I learned a few new curse words.

Now that I have successfully managed expectations, let’s look at the results after the jump.

double red triangle arrows Continue reading “Size Matters: Salary Survey Results”

Back in 2009, when killing lockstep was all the rage, a number of large law firms announced that they would be moving to some form of a merit-based compensation system. Now that we’re a few years into those systems, how many firms have stuck with the plan? And which systems do associates prefer?

Of the 86 distinct Biglaw firms at which survey respondents work, 63% of the firms pay base salaries on a lockstep system, and the remaining 37% of firms use a merit-based system or hybrid-lockstep system for paying base salaries. The vast majority of respondents, 70%, say they prefer the lockstep model for base salaries because of its transparency and predictability.

For year-end bonuses, 70% of the firms utilize a merit-based or hybrid-lockstep system, while 30% have a lockstep system based either on class year or billable hours. According to 62% of respondents, the most preferred type of year-end bonus allocation system is a merit-based or hybrid-lockstep system.

After the jump, find out how various combinations of compensation systems measure up against market.

double red triangle arrows Continue reading “Career Center Survey Results: Comparing Compensation Systems”

In the throes of the recession, many Biglaw firms jumped on the bandwagon to kill lockstep compensation in favor of a more merit-based system (though some have already fallen off the bandwagon). With a variety of compensation models currently in use among firms today, we want to hear from you about how you get compensated at your firm — and how you prefer to get compensated.

Please take our short survey, brought to you by Lateral Link, and tell us how you are compensated at your firm. Then check back later for the survey results. As always, your survey responses will be kept completely confidential.

Check out the survey, after the jump.

double red triangle arrows Continue reading “Career Center Survey: Comparing Compensation Systems”

If work is slow and you need a good chunk of hours to meet your billable target or to be eligible for a bonus, what’s your best bet for boosting your billables? 

According to the 884 respondents to Tuesday’s survey, pro bono work.  About 68% of respondents say their firms give billable credit for at least some pro bono hours.  On the other hand, only 12% of respondents say that their firms count client/business development activities as billable time, although another 15% report that these hours may affect bonus decisions.

What are some of the other popular billable activities?

double red triangle arrows Continue reading “Career Center Survey Results: What Counts as Billable Time”

Lately, many of you have been quite the busy billers, even working on MLK Day and Presidents Day.  What undoubtedly keeps most associates on the clock on holidays (and pretty much every day of the year) is client billable work.

But are there other kinds of activities for which your firm will give you billable hour credit?  Take our short survey, brought to you by Lateral Link, and tell us what counts as billable time at your firm. Then check back later this week for the survey results.

Take the survey, after the jump….

double red triangle arrows Continue reading “Career Center Survey: What Counts as Billable Time?”

Thank you for all your responses (or attempted responses) to this week’s Career Center survey on whether or not you worked on Presidents Day.  We received 715 responses before the flood of respondents managed to take the survey offline.

Based on the responses we did receive, the majority of respondents – 73% – reported working on Presidents Day, up from 66% who reported working on Martin Luther King, Jr. Day.  Almost half of these respondents indicated that their firm does not recognize Presidents Day as an official firm holiday, and 38% said that although no one asked them to do work, they had stuff that needed to get done.

What were some of the other reasons given for working on Presidents Day?

double red triangle arrows Continue reading “Career Center Survey Results: Another Working Holiday”

In Part 1 of the Career Center survey results on debt, we reported that 85% of the 3,700 survey respondents have outstanding student loan debt, with more than half of them owing $100,000 or more. We also found that 75% of respondents considered their debt at least as much as other factors when deciding on where to work.  Today, we’ll take a look at a further breakdown of these numbers by job sector and amount of debt.

But first, let’s examine the extremes: respondents with the most debt, and respondents with no debt….

double red triangle arrows Continue reading “Career Center Survey Results: A Generation of Debtors (Part 2)”

We received an overwhelming number of responses – 3,700 – to last week’s Career Center survey on debt and how it contributes to your decision on where to work.  We will introduce an overview of the results today, and present a more detailed analysis later in the week.

Overall, 93% of respondents report being in some kind of debt.  And for the vast majority of them, that debt plays a role in their decision on where to work:

  • 38% of respondents said they considered debt about as much as other factors.
  • 37% said they considered debt more than any other factor.
  • 24% said debt contributed very little or did not contribute at all.

Exactly how much debt are we talking about here?

double red triangle arrows Continue reading “Career Center Survey Results: A Generation of Debtors (Part 1)”

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