The good news is that attorneys now have more options and more choices in the legal profession – similar to professionals in other industries. There is no longer a stigma attached to someone who has moved around in his or her legal career. In fact, associates who have never changed firms are clearly the exception nowadays.
The bad news is for the firms themselves: All of this movement costs a lot of money. Large firms lose approximately $200,000 to $300,000 each time an associate walks out the door. This cost is recouped in higher billable-hour expectations and higher billing rates. With new associates often starting at $95,000 to $110,000 right out of law school, the pressure is on them to perform faster and sooner. Is it any wonder that one of the most common reasons that associates leave a firm is lack of training and mentoring?
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