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What happened to the biglaw SAs when the incoming associates were deferred/laid off in 2009?
Posted: Sun Sep 06, 2020 3:17 am
by Anonymous User
Does anyone remember what happened to the summer associates (3L) when the incoming associates (recent graduates) were deferred or the offers were rescinded back in 2009?
How would the current crisis/biglaw hiring needs likely impact the classes of 2020 and 2021?
Re: What happened to the biglaw SAs when the incoming associates were deferred/laid off in 2009?
Posted: Mon Sep 07, 2020 2:39 pm
by sting
There were A LOT of no offers in the summer of 2009. IIRC, most of those that did get offers started at a normal time in the fall of 2010. But even if we knew where we'll be by this time next year,
it's hard to compare what happened in 2010 with this year's normal class sizes and guaranteed offers out of virtual programs.
OCI in the fall of 2009 was pretty much a massacre everywhere, with probably more than half striking out even at T10s. But for those that did land SAs, offer rates were close to normal, and the class of 2011 started on time pretty much everywhere. It doesn't seem like we're headed for an OCI that'll look quite as bad as 2009's, but with all of the uncertainty, I also wouldn't bank on being fine (if you define "fine" as landing biglaw, which you probably shouldn't) just because you're at a T14 and/or have great grades.
Re: What happened to the biglaw SAs when the incoming associates were deferred/laid off in 2009?
Posted: Fri Sep 11, 2020 12:08 pm
by Dahl
My SA summer was 2009. My SA class had just over a 50 percent offer rate. In my opinion, this was not at all fiscally necessary, and the firm came to regret it later on when they needed new young associates.
For those of us who were given offers and accepted, we started at the normal September timeline. The 2008 SA class before mine was deferred a full year, so my class ended up starting before them. It was all around bizarre.