The National Association for Law Placement recently released statistics indicating that almost 80 percent of attorneys at large law firms no longer work there five years later. This news comes as no surprise, considering the factors that drive this rate.
Attrition driven by shifts in the business market is to be expected in a large firm: A particular area of practice can dry up or greatly expand, depending on clients’ needs. An additional degree of attrition is, of course, necessary, as large firms hire significantly more associates than they plan to share equity with as a partner.
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