Friday, March 14, 2008

Big-Firm Associates: Why They Go and How to Keep Them

In this Law.com article, which discusses ways to retain BigLaw associates, inexplicably, work/life balance is given nary a thought.  Not surprisingly, it was written by 2 male attorneys.

An excerpt follows:

The larger law firms are reported to be losing 30, 40, 50 percent of associates after three to four years -- with half to two-thirds of the defections due to associate, not firm, choice...

(O)n the basis of many discussions with students, associates, partners and inside counsel, we believe that for a significant number, their first professional experience after at least seven years of higher education is too unprofessional and demoralizing. That disappointment is a major reason for leaving their firm...

What can be done?...The general counsel and senior partners can revise the running rules to open up lawyer-to-lawyer meetings or legal proceedings so that young associates can observe the process (even though the firm will still have to foot the bill as a training cost)...Corporations can also encourage firms to secund third- or fourth-year associates to them for a year (and pay the costs, but not the profit margin)...Corporations can also encourage firms to secund third-or fourth-year associates to them for a year (and pay the costs, but not the profit margin)...Firms can also secund young associates to public sector agencies (e.g., the county prosecutor's office), where they can be paid by the firm but get far more hands-on experience than they would as twenty-first person on a multidistrict litigation team...Perhaps most importantly, firms could spend as much time on professional development as on marketing.