Excellent Summary of Legal Employment of Past Classes

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Anonymous User
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Excellent Summary of Legal Employment of Past Classes

Postby Anonymous User » Wed Sep 15, 2010 9:46 pm

(Not my summary)

c/o 1999 or earlier -> are equity partners, most kept the same PPP by fucking over associates. Some firms did suffer major PPP drops and many firms have or are now de-equitizing and cutting partners

c/o 2000-2002 -> up for partner, normally would have made it, but didn't due to ITE

c/o 2003-2006 -> midlevels outside of corporate have done pretty well if they survived layoffs. Lateral market is actually hot now and few of them are left. They were busy and got experience as juniors pre-ITE. The ones who were laid off at least got experience

c/o 2006-2008 -> brunt of layoffs hit juniors. If they survived, great; otherwise, fucked. Even the ones who survived, they didn't get lots of good work as juniors

c/o 2009 -> deferrals and rescissions

c/o 2010 -> no offered + deferrals

c/o 2011 -> OCI pwned and possibly some deferrals

c/o 2012 -> somewhat OCI pwned

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Kohinoor
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Kohinoor » Wed Sep 15, 2010 10:00 pm

Anonymous User wrote:(Not my summary)

c/o 1999 or earlier -> are equity partners, most kept the same PPP by fucking over associates. Some firms did suffer major PPP drops and many firms have or are now de-equitizing and cutting partners

c/o 2000-2002 -> up for partner, normally would have made it, but didn't due to ITE

c/o 2003-2006 -> midlevels outside of corporate have done pretty well if they survived layoffs. Lateral market is actually hot now and few of them are left. They were busy and got experience as juniors pre-ITE. The ones who were laid off at least got experience

c/o 2006-2008 -> brunt of layoffs hit juniors. If they survived, great; otherwise, fucked. Even the ones who survived, they didn't get lots of good work as juniors

c/o 2009 -> deferrals and rescissions

c/o 2010 -> no offered + deferrals

c/o 2011 -> OCI pwned and possibly some deferrals

c/o 2012 -> somewhat OCI pwned
It will be interesting to see the exit/partnership opportunities for those who luck out as classes get leaner and leaner.

Anonymous User
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Anonymous User » Wed Sep 15, 2010 11:37 pm

Kohinoor wrote:
Anonymous User wrote:(Not my summary)

c/o 1999 or earlier -> are equity partners, most kept the same PPP by fucking over associates. Some firms did suffer major PPP drops and many firms have or are now de-equitizing and cutting partners

c/o 2000-2002 -> up for partner, normally would have made it, but didn't due to ITE

c/o 2003-2006 -> midlevels outside of corporate have done pretty well if they survived layoffs. Lateral market is actually hot now and few of them are left. They were busy and got experience as juniors pre-ITE. The ones who were laid off at least got experience

c/o 2006-2008 -> brunt of layoffs hit juniors. If they survived, great; otherwise, fucked. Even the ones who survived, they didn't get lots of good work as juniors

c/o 2009 -> deferrals and rescissions

c/o 2010 -> no offered + deferrals

c/o 2011 -> OCI pwned and possibly some deferrals

c/o 2012 -> somewhat OCI pwned
It will be interesting to see the exit/partnership opportunities for those who luck out as classes get leaner and leaner.



Indeed.

ScaredWorkedBored
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Re: Excellent Summary of Legal Employment of Past Classes

Postby ScaredWorkedBored » Thu Sep 16, 2010 11:29 am

You can add "somewhat OCI pwned" to C/O 2010 as well.

http://www.law.northwestern.edu/career/markettrends/

During Fall 2008 recruiting, offers for 2009 summer associate positions fell by 33%, with offers from the nation's largest firms falling by almost 40%.


The % of no-offers/"deferrals" and the c/o 2011 OCI decline were coming off of that base.

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nealric
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Re: Excellent Summary of Legal Employment of Past Classes

Postby nealric » Thu Sep 16, 2010 11:56 am

I do think the classes of 2009-2011 will be in pretty good shape 3-4 years from now if they successfully ran the gauntlet of OCI, No-offers, and deferrals. I've heard several hiring partners voice concern that there is going to be a mid-level crunch circa 2013-2015.

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chup
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Re: Excellent Summary of Legal Employment of Past Classes

Postby chup » Thu Sep 16, 2010 12:00 pm

Anonymous User wrote:(Not my summary)

c/o 1999 or earlier -> are equity partners, most kept the same PPP by fucking over associates. Some firms did suffer major PPP drops and many firms have or are now de-equitizing and cutting partners

c/o 2000-2002 -> up for partner, normally would have made it, but didn't due to ITE

c/o 2003-2006 -> midlevels outside of corporate have done pretty well if they survived layoffs. Lateral market is actually hot now and few of them are left. They were busy and got experience as juniors pre-ITE. The ones who were laid off at least got experience

c/o 2006-2008 -> brunt of layoffs hit juniors. If they survived, great; otherwise, fucked. Even the ones who survived, they didn't get lots of good work as juniors

c/o 2009 -> deferrals and rescissions

c/o 2010 -> no offered + deferrals

c/o 2011 -> OCI pwned and possibly some deferrals

c/o 2012 -> somewhat OCI pwned


In summary.

270910
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Re: Excellent Summary of Legal Employment of Past Classes

Postby 270910 » Thu Sep 16, 2010 12:01 pm

nealric wrote:I've heard several hiring partners voice concern that there is going to be a mid-level crunch circa 2013-2015.


Same here. It's not a bad plague to have survived seems to be the prognosis.

NYAssociate
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Re: Excellent Summary of Legal Employment of Past Classes

Postby NYAssociate » Thu Sep 16, 2010 12:11 pm

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Last edited by NYAssociate on Tue Oct 05, 2010 7:53 pm, edited 1 time in total.

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Kohinoor
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Kohinoor » Thu Sep 16, 2010 12:35 pm

NYAssociate wrote:Assuming no double dip, the lateral market will be gangbusters soon enough. I predict a massive uptick in midlevel hiring before any significant uptick in entry-level.

I've never been clear on how that works. What would an uptick in midlevel hiring look like? If everyone is hiring midlevels doesn't that just shift the same pool of people from firm to firm? Less mandatory attrition?

NYAssociate
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Re: Excellent Summary of Legal Employment of Past Classes

Postby NYAssociate » Thu Sep 16, 2010 12:46 pm

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Last edited by NYAssociate on Tue Oct 05, 2010 7:53 pm, edited 1 time in total.

Black-Blue
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Black-Blue » Thu Sep 16, 2010 12:46 pm

Class of 2010 only "somewhat" ITE-pwned?

ScaredWorkedBored
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Re: Excellent Summary of Legal Employment of Past Classes

Postby ScaredWorkedBored » Thu Sep 16, 2010 3:23 pm

I said somewhat OCI pwned. 2010 was less screwed at OCI than 2011 by default.

In terms of how many 2010's will actually start at their permanent jobs, they may not be much better off than the 2011's.

xyzzzzzzzz
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Re: Excellent Summary of Legal Employment of Past Classes

Postby xyzzzzzzzz » Thu Sep 16, 2010 3:35 pm

When can we expect things to get better? 2014? 2015?

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Kohinoor
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Kohinoor » Thu Sep 16, 2010 3:47 pm

xyzzzzzzzz wrote:When can we expect things to get better? 2014? 2015?

Better in terms of what? Offer rates have improved partly as a result of much smaller class sizes. We might see offer rates approach golden era levels as early as c/o 2013 but a return to golden era class sizes and biglaw opportunities as a function of rank/gpa may never materialize.

xyzzzzzzzz
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Re: Excellent Summary of Legal Employment of Past Classes

Postby xyzzzzzzzz » Thu Sep 16, 2010 6:02 pm

Kohinoor wrote:
xyzzzzzzzz wrote:When can we expect things to get better? 2014? 2015?

Better in terms of what? Offer rates have improved partly as a result of much smaller class sizes. We might see offer rates approach golden era levels as early as c/o 2013 but a return to golden era class sizes and biglaw opportunities as a function of rank/gpa may never materialize.


yeah that's kind of what i figured.

Tsispilos
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Tsispilos » Thu Sep 16, 2010 6:10 pm

I've actually been kind of flabbergasted by how remarkably improved c/o '12 seems to be doing compared to c/o '11, at least at my school.

Anonymous User
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Re: Excellent Summary of Legal Employment of Past Classes

Postby Anonymous User » Thu Sep 16, 2010 6:37 pm

Tsispilos wrote:I've actually been kind of flabbergasted by how remarkably improved c/o '12 seems to be doing compared to c/o '11, at least at my school.



Too early to tell still. At my CCN, it seems like below median is getting jerbs, which was unheard of last summer.




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