LRGhost wrote:I think the whole 'ITE as the new normal' thing has been covered, but part of what hasn't been touched on is that the comfort and true 'boom' of the 2000s is also gone. Starting salaries haven't increased in however many years. Bonuses have decreased. Most importantly, the level of job security where you could stay on longer than today and land somewhere safe has evaporated. People aren't really given 12-24 months to coast and look for a new job. Sure, you may get reviews and a six month notice that you should try to look at other options and you may still get three months severance, but your exit options aren't what they used to be.
I've asked about that last part a number of times, but it seems there wasn't any solid data on that beyond anecdotal evidence - I'm talking about the biglaw exit options here.
I think we can assume that government options are frozen (due to the general hiring freeze).
But what of laterals to biglaw, midlaw, in-house, and small law? Campos identifies some structural changes in biglaw that will likely not bring back certain types of work there, but I wonder about whether structural changes would affect any of these exit option areas out of biglaw (not including laterals back into biglaw, of course).
Will non-biglaw jobs eventually rebound?