The National Association for Law Placement recently released a study 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. The study found that "attrition is, of course, necessary, as large firms hire significantly more associates than they plan to share equity with as a partner." According to the report, "attrition rates are, to some extent, the price of doing business."
In her article for Law.Com, Kate Neville examines the forces that drive attrition to help attorneys on both sides of the table maximize their respective investments. "Regardless of why they came, what has kept them there or how long they stay, the majority of attorneys at large firms leave. While some do so because they are not made partner or are asked to start looking, most come to recognize on their own that they do not want a long-term future there."
To read the full text of the article, click here.
Source: Law.Com's Daily Legal Newswire November 14, 2007