X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Photo: iStock

While associates are losing out on work to partners, dealing with pay cuts and not getting as much face time with partners—factors that make the future a concern—the situation isn’t as dire as it was during the Great Recession, industry observers say, in part because of the lessons firms learned from that period.

Since the pandemic, driven by client demand and a lack of overall legal activity, higher-rate, longer-experience partners have been corralling a larger amount of available work for Big Law firms. While that of course has consequences for associates, those who were working in the industry during the Great Recession see notable differences between the two crisis and what those respective environments mean for the future of younger attorneys. 

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Patrick Smith

Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, cannabis law and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd

More from this author

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

You Can't Manage It If You Don't Measure It

How are you illustrating differentiation to clients and potential lateral targets? How are you measuring performance against peers? Use Legal Compass to benchmark a firm against its competitors, unearthing unique insights about performance, partner retention, market penetration and more. Click to log in, or begin your free trial.

Get More Information
 

The American Lawyer Industry Awards 2021Event

Honoring outstanding legal achievements focused at the national level, largely around Big Law and in-house departments.

Get More Information
 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.