Renzo wrote:I disagree with a few of the things you've said, but this is the point I most strongly disagree with. Firms are generally not treating new associates as an investment. The whole business model depends on bringing in associates, depleting them of billable hours, and then showing them the door (either voluntarily or not).
I agree. That's still an investment.
Since training isn't free, the more you train your associates, the less it makes economic sense to hire more of them and work them less. Just the opposite, in fact--if you are going to invest in your juniors, it makes far more economic sense to higher fewer, higher the best you can get (by paying a high wage), and working them as hard as you can to offset the cost of investing in their training.
The analogy I would use would be the NFL Draft. You don't have certainty that the associates you hire are going to be any good, I don't care what school they went to or what their grades were. Like in the draft, the logical thing to do is trade down for more picks for less money. This is especially true in talent-rich drafts.