Summer Hiring Down at BigLaw Firms
Apparently because of the slowing economy, a number of major law firms are pulling back from the record-breaking summer hiring of 2007 and are expecting smaller summer associate classes this year.
At Kirkland & Ellis, for instance, the Chicago-based firm is planning to host 190 summer associates, down from 229 last year, reports the National Law Journal. Similar reductions are expected at Latham & Watkins; Sidley Austin; and Skadden, Arps, Slate, Meagher & Flom.
“As we were in the process of putting together the summer associate class, we were cognizant that the economic conditions could be a little different this year, that the economy at large might be in a challenging place,” says partner Jay Lefkowitz, a member of Kirkland’s management committee.
But not all major law firms are in a belt-tightening summer-hiring mode. Megafirm DLA Piper expects 129 summer associates, compared to 109 last year. And at Morrison & Foerster the firm is planning for 144 summer associates this year, up significantly from last year’s 108.
One reason for the 33-percent rise at MoFo is that more law students accepted offers than the firm anticipated, according to chairman Keith Wetmore. At the same time, though, he says the firm has not been significantly impacted by recent economic issues and doesn’t plan to decrease its offer rate to successful summer associates.
