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If a firm hires 100 first-year associates, but only makes 10 equity partners, any associate who does the math will figure out that the odds are against a long-term career with the firm. For firms with a pyramid structure, the question is not whether associates will leave but when. Some firms are changing all that. Two years ago, Akin Gump decided to improve retention rates by changing the basic paradigm -- removing even the vestiges of the traditional eight-year up-or-out system.
May 22, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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