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Turnover Rate
Posted: Thu Nov 12, 2009 2:50 pm
by JohnBoy
I was reading through an article that stated nearly 2/3rds of associate employees leave within five years of their hiring at V10 firms. They didn't really offer insight as to why this was the case and I was wondering if anyone could shed additional light on this topic.
Re: Turnover Rate
Posted: Thu Nov 12, 2009 2:50 pm
by JazzOne
tag
Re: Turnover Rate
Posted: Thu Nov 12, 2009 2:55 pm
by kurama20
This is one of the reasons why I am much more interested in prestigious litigation boutiques---totally opposite situation on their turnover rates.
Re: Turnover Rate
Posted: Thu Nov 12, 2009 11:34 pm
by tengorazon
Let's see. Reasons for leaving, in no particular order:
1. Move to a different geographic location.
2. Go into government.
3. Go to a smaller firm.
4. Go to a nonprofit.
5. Go into academia.
6. Go in-house at a large corporation.
7. Not going to make partner and are being pushed out.
8. Want to do something non-legal.
Aside from #1 and #7, these generally boil down to wanting more meaningful/different work and/or better hours.
But the above poster is right that "boutique" firms generally have a lower turnover. That's probably because they do a better job of screening job candidates b/c they don't need a massive number of bodies just to function.
Re: Turnover Rate
Posted: Thu Nov 12, 2009 11:43 pm
by RVP11
kurama20 wrote:This is one of the reasons why I am much more interested in prestigious litigation boutiques---totally opposite situation on their turnover rates.
I'd also say that, generally, the further you go down the Vault or NLJ250 lists, the lower the turnover rates. In secondary markets, the "big" firms often have 1:1 leverage and work weeks look more like 60-65 hours a week rather than 75+. They don't have to push many people out and the desire to leave is not as widespread.
Re: Turnover Rate
Posted: Thu Nov 12, 2009 11:48 pm
by Anonymous User
Many people (myself included) consider working in BIGLAW to pay off their student debt. It's nothing more than indentured servitude. Many people pay off their debt, gain experience, and then hope to lateral to a smaller, less stressful firm, government job, inhouse counsel, or start their own firm.
MANY people who take partner track, associate positions do not WANT to dedicate their life to biglaw. People would like to see their children grow up and occasionally have dinner with their family
