Good news?

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traehekat
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Good news?

Postby traehekat » Tue Feb 07, 2012 12:50 pm

http://newsandinsight.thomsonreuters.com/New_York/News/2012/02_-_February/Summer_law-firm_jobs_on_the_rebound,_but_slowly/

Feb 6 (Reuters) - The worst of the summer-hiring slump for law students may be over, according to law school administrators and management consultants.

A pickup in litigation and transactional work over the last year, along with projections of modestly better revenue and earnings for 2012, is prompting some law firms to reinvigorate their summer hiring plans, said Paula Alvary, principal of consulting firm Hoffman Alvary, which advises law firms on strategy and management.

The good news started to gather in 2011. A new assessment found that several top schools saw an increase in law firms' summer hiring of their students last year, confirming previous reports that summer-associate hiring has begun to recover.

"Firms are making a very, very cautious return to summer hiring," said Alvary. "They are treading carefully, but they don't want to be caught short two to three years from now."


With all this talk about needing motivation, figured I might post some positive news. For 1Ls who didn't find themselves at the top of their classes first semester, keep pushing hard to get closer toward the top because it looks like this summer's OCI will be the best it's been in 4 years and you don't want to miss that train.

EDIT: Apologies if this has already been posted.

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kalvano
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Re: Good news?

Postby kalvano » Tue Feb 07, 2012 1:11 pm

Hopefully any good news will carry over into post-grad hiring as well.

c3pO4
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Joined: Wed Oct 19, 2011 1:34 pm

Re: Good news?

Postby c3pO4 » Tue Feb 07, 2012 6:37 pm

that article is complete BS. this is the new normal. firms have permanently reduced their summer classes and will not go back to pre ITE levels, ever. if anything, summer hiring will go down further as firms move towards more innovative models that hire people close to graduation.

freaknroll
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Joined: Wed Jan 04, 2012 3:53 pm

Re: Good news?

Postby freaknroll » Tue Feb 07, 2012 6:43 pm

c3pO4 wrote:that article is complete BS. this is the new normal. firms have permanently reduced their summer classes and will not go back to pre ITE levels, ever. if anything, summer hiring will go down further as firms move towards more innovative models that hire people close to graduation.


Just curious as to why you believe this so adamantly? Not saying you are wrong, I have no idea, just curious.

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traehekat
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Re: Good news?

Postby traehekat » Tue Feb 07, 2012 6:47 pm

c3pO4 wrote:that article is complete BS. this is the new normal. firms have permanently reduced their summer classes and will not go back to pre ITE levels, ever.


"Firms are again starting to hire for summer positions, though not in the numbers they did before the recession," he said.


I don't think the article insinuates that hiring is going to return to pre-recession levels.

ahnhub
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Joined: Fri Jun 10, 2011 3:14 pm

Re: Good news?

Postby ahnhub » Tue Feb 07, 2012 7:19 pm

This shouldn't come as news to anyone who's followed TLS the past couple of months--Summer 2010 was godawful, 2011 was somewhat better. From everything I've seen on the 2011 OCI threads this past OC I was significantly better at all of the T-14.

PI funding is still dry; public sector is still shedding jobs; still not looking rosy by any means. But it's pretty clear at this point that the people who were proclaiming the legal profession was about to implode were wrong.

Some of the info in the article is really super-revealing, and I wish they collected data from more schools. Chicago in particular looks pretty bad-ass-- 89% with an SA pre-ITE, 69% right in the middle of the crash, and 77% a year after.

truevines
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Joined: Fri Jun 20, 2008 6:16 pm

Re: Good news?

Postby truevines » Tue Feb 07, 2012 7:52 pm

freaknroll wrote:
c3pO4 wrote:that article is complete BS. this is the new normal. firms have permanently reduced their summer classes and will not go back to pre ITE levels, ever. if anything, summer hiring will go down further as firms move towards more innovative models that hire people close to graduation.


Just curious as to why you believe this so adamantly? Not saying you are wrong, I have no idea, just curious.


http://blogs.findlaw.com/greedy_associates/2012/01/law-firm-associate-hiring-is-down-even-as-firms-recover.html

http://www.abajournal.com/news/article/biglaw_still_hiring_fewer_newbies_second-tier_grads_dont_have_a_prayer_hiri/

But, from TLS, I did see hiring at T14 went up last year. Or, maybe it's because the offer yields are higher now, so firms reduce hiring from lower-ranked schools.

shadow.
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Joined: Sat Sep 19, 2009 4:13 pm

Re: Good news?

Postby shadow. » Wed Feb 08, 2012 12:50 pm

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