Summary: Law school students that complete summer internships are seeing a much higher number of job offers from major law firms.
Another example of the changing legal market comes from a recent study showing that law school graduates are seeing better job conditions than in previous years. Law firms are becoming aggressive again when competing for law school graduates. The study done by the National Association for Law Placement found that major law firms offered jobs to 95.3 percent of their summer interns. This is the highest rate since the 2008-2009 recession.
Summer internships were always the way to reach a goal of a job offer for law school graduates but a tough legal market was leaving many without offers at the end of the internship. Summer internships were also harder to come by but the study found that there was an increase in the internships last year.
Executive director of the NALP James Leipold said, “After a period of considerable and prolonged slowdown in law student recruiting volumes, for the last two years we have seen strong markers of recovery. There is a scramble for talent that we have not seen since before the last recession.”
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Typically a law student applies for a summer associate or intern position during the first year of law school to be done during their second and third years of law school. The job offer comes during that time for employment to begin once they have graduated from law school. During the recession, only around 69 percent of summer associates were receiving job offers.
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Some law firm leaders have stated that their revenues are flat but many are looking to mergers and acquisitions as a way of continuing their growth instead of trying to just build it. There is also a shortage of third, fourth, and fifth year associations because of the recession so law firms are working to build back those numbers.
Photo: qz.com