Once upon a time, a law degree from the likes of Harvard meant not only that the job offers would come but that they would be substantial. A big check from a prestigious firm, of course, is a great way to start a career, as that name stays on your resume for the rest of your life. A decline in demand for legal services, however, has left the major law firms rethinking their campus hiring volume. As a result, even students from the top law schools are likely to have trouble landing their dream 90-hour-a-week jobs.
Skadden, Arps, Slate, Meagher & Flom, the top law firm in the United States by revenue, forecasted a 50% drop in summer hiring for next year, recruiting partner Howard Ellin told Bloomberg News. In 2009, Skadden brought in 225 students for the summer. Next year, only half that amount is expected.
The constraint on positions is being felt on campuses. The number of first-round interviews for students in their second and third years of study at Harvard Law School dropped 20% this year. NYU indicated that calls for second rounds dropped "dramatically." Top students used to be able to count on 25 callbacks a decade ago, but now, receiving ten is considered "lucky."
The constriction of jobs and callbacks is accompanied by deferred start dates for this year and next, and some firms are canceling summer hires completely for next year.
For law students preparing to enter the market in 2011, the situation may not be much better. So, the next time you see an ambulance whip around the corner, look for the young, suit-clad crowd trailing it ... it'll be bigger than usual.
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Reader Comments (Page 1 of 1)
9-23-2009 @ 4:45PM
al coholic said...
As the old joke goes...
Why do they bury lawyers 20' under ground?
because deep down they are really good guys.