By Kathleen Pearson
As reported on Above the Law and Law.com, there is a new trend emerging with incoming associates. That particular article shows a novel idea several BigLaw firms are trying out – using the first year or two as a true apprenticeship. New associates will earn a lower salary (if you want to call $100,000 a low starting salary) but not have rigorous billing requirements right out of the gate. Instead, they will continue classroom style training and shadowing attorneys to really learn how to put all of the theory they learned in law school to practical use.
One should keep in mind, however, that while BigLaw makes a big news splash with sky-high starting salaries – which may have been a significant contributing factor to profitability problems, need for deferring start dates, layoffs and apprenticeship models - these associates make up a relatively small percentage of the entire associate pool across the country. According to NALP, only 23% of incoming associates in the 2007 class made $160,000 while 49% earned less than $75,000.
As YLB has reported in the past, mid-sized and regional firms that did not join the race to the top of the salary stratosphere continue to be better placed in the market and appear to be weathering this legal recession better than their larger, higher-leveraged colleagues.