Y ARTICLE in these pages last year was a cautionary tale. I likened market conditions at the time to the game show “Survivor” and offered advice for both managers and associates for staying in the game. Fast forward 12 months, and the “survival of the fittest” mentality has grown even more pronounced. Firms are still eating their young- cutting loose very junior associates before true merit evaluation can reasonably take place, and crediting dismissals to poor associate performance rather than economic forces. Layered on top of the economic woes are the repercussions of Sept. 11 to our city, our sector and our psyche. Recent scandals calling into question the ethics and standards maintained by major professional firms just add insult to injury.
Recruiting calculus being what it is, this summer promises to be another buyer’s market. Though firms have been more conservative in summer hiring than last season, student demand for entry-level associate positions is again likely to outstrip supply. Consequently, hiring committees will be in the unfortunate position of rationing offers come Labor Day – not all summer associates who start the season beaming with promise will be welcomed back by their summer employers. The mantras “there is a place for every summer associate” and “an offer is yours to lose” will undoubtedly still ring through law firm halls all over the city. The truth, sad to say, is probably not so rosy.
