Firms Predict Fewer Associate Hires in 2009

It shouldn’t be a surprise to anyone that law firms plan on hiring fewer associates next year.

In Washington D.C., 20 two of the thirty largest law firms plan on bringing on fewer associates in 2008 than they did in 2007.  Some will decrease hiring by only two or three attorneys, while others will cut hiring by as much as 30 percent.  Collectively the firms that provided figures for a recent survey say that their associate hires will drop by five percent.

As the economy has faltered, workload has decreased, especially transactional work.  With many lawyers afraid to risk a job change in a fluctuating job market, attrition is down.  Firms are will be cautious in their hiring practices until the nature of the economic downturn becomes clear.

Lateral movement does remain strong, however, at the partner level.  There is as much, if not more, demand at the partner level.  Whenever news breaks that a particular firm may be having difficulties, recruiters start receiving calls from firms interested in recruiting partners who may be looking to escape a sinking ship.