Are Law School Graduates Ready for Law Firm Life?
Apparently more and more young lawyers are deciding against the pursuit of partnership at big law firms. According to this Wall Street Journal article:
According to an NALP Foundation study unveiled last year that looked at law firms for the three years from 2002 through 2004, nearly 60% of all entry-level associates at firms with more than 500 lawyers had left their firms by the end of their fourth years. For firms of all sizes, it was 62%, a record since NALP began tracking it nearly 10 years ago.
Those numbers are fairly impressive; especially when you think about the time and money spent by law firms on new associates. As a recent law firm to solo lawyer, I can definitely relate to some of the points raised in the article.
