You’ve seen the high salaries and bonuses industry leaders are paying out. But if you’re on the outside looking in, your biggest priority should be finding “Now Hiring” emblazoned somewhere on a firm’s career section. Data breakdowns show that the coming hiring cycles might not look as fortuitous for graduating classes to come.
From Reuters:
New law school graduates crushed the entry-level job market in 2023, posting record high employment rates and salaries…subsequent classes are unlikely to repeat those strong numbers, NALP officials warned last week. The red-hot market for lawyer talent in 2022 and early 2023 has already cooled, NALP noted, and recent data shows law firms have dialed back new associate recruiting.
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That’s the thing about boom and bust hiring cycles. When things are booming, you’re on the top of the world. When things are busting , hey, at least it isn’t as bad as 2008!
Will the market actually line up with NALP predictions? Let us know how your experience of the market changes over time at [email protected]. In the meantime, best practice would be to get your resume ready for whatever happens. Or, if you’re over 6-foot-7 and somehow made it through bar prep with an athletic body, you may want to switch markets and pick up a basketball. The “partners are getting paid like basketball players” simile works both ways, after all.
Good Times Won’t Last For Law Grads, Warns Job Tracking Group [Reuters]
Earlier: Recent Law School Grads Reach Historic Job, Salary Outcomes — But Future Law Grads May Be In Trouble
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Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at [email protected] and by tweet at @WritesForRent.