Industry Trends
Keep track of the latest legal industry trends, including salaries,
marketing, layoffs, mergers, etc. |
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| How Low Will Pay Go? | ABA Journal, June 2009
Firms are cutting associate pay, and these reduced salaries may become the new status quo. | | | Has Legal Sector Seen Worst of Job Cuts? | AmLaw Daily, June 5, 2009
Job losses in the U.S. legal sector slowed in May, according to statistics from the U.S. Department of Labor. The industry lost 1,300 jobs last month—the smallest number of job cuts this year. | | | In-House Is No Haven | ABA Journal, June 2009
In-house lawyers are not immune from the current economic climate. Council in the financial services and real estate markets have been hit particularly hard by layoffs. | | | Summer associate programs facing extinction? | Lawyerist, May 21, 2009
Economic challenges and a HR logjam caused by deferred and new associates could spur companies to change summer associate programs or to eliminate them entirely, speculates a legal blogger. | | | Downturn's Losers: BigLaw, 'Entitled' Associates, Top Schools | ABA Journal, May 7, 2009
In a seismic shift, the economic downturn might make the traditional BigLaw model extinct. Regional law firms could prosper, as elite schools and large firms lose ground, suggests an Indiana University law professor. | | | New Fee Structure For Law Firms | Forbes, April 29, 2009
The global economic downturn is forcing law firms to reevaluate their structure and operations, including such fundamentals as the billable hour. Liquidity has dried up and demand for many legal services has evaporated with it, motivating such drastic changes.
| | | Georgetown is the Latest Law School with New Initiatives for Unemployed/Deferred Graduates | Above the Law, April 28, 2009
Georgetown University is helping law school graduates navigate murky economic conditions, guiding them to public interest internships. The school is also offering extended health-care benefits to graduates. | | | For law graduates, a public-service detour on road to success | Boston Globe, April 27, 2009
As law firm budgets tighten, some defer employment for law graduates while offering them a stipend for taking on unpaid public-service positions. | | | Mergers Up in First Quarter of 2009 but Will It Last? | AmLaw Daily, April 7, 2009
The number of law firm mergers in 2009 increased from the same time period the previous year, according to a new Altman Weil report. | | | Recession Sends Lawyers Home | Washington Post, March 9, 2009
"Virtual" law firms may be better suited to current economic conditions than the traditional brick-and-mortar business model. | |
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