The article discusses the persistent high attrition rates within law firms, particularly among associates who started during the pandemic. As the Covid emergency has ended, emerging data shows that many young lawyers trained in less than ideal conditions are departing their firms sooner, leading to decreased returns on investment for firms. A survey by the National Association for Law Placement highlights that only 20% of associates remain at their firms after five years, indicating an all-time high departure rate, with 47% leaving within three years.
Only one in five associates remained at the same law firm through five years as of last year, according to the National Association for Law Placement.
The departure rate is trending at an all-time high over the past two years, NALP found. Nowadays, it's closer to a coin flip if an associate will stay at a firm for even three years.
Collection
[
|
...
]