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Flush with incoming associates, regulation companies pulled again on 2024 summer season affiliate hiring, rivaling Nice Recession ranges
March 12, 2024, 12:22 pm CDT
In line with a report launched Tuesday by the Nationwide Affiliation for Legislation Placement, 46% of callback interviews in 2023 resulted in affords for 2024 summer season affiliate positions, a decline of 6 proportion factors from 2022. (Picture from Shutterstock)
Legislation companies that recruited regulation college students in 2023 for summer season affiliate packages in 2024 took a cautious strategy, leading to one of many softest recruiting seasons because the Nice Recession, in keeping with a report launched Tuesday by the Nationwide Affiliation for Legislation Placement.
The supply charge for summer season 2024 packages for second-year regulation college students was the bottom recorded since 2012, in keeping with a March 12 press launch and the NALP report, Views on 2023 Legislation Pupil Recruiting.
Forty-six % of callback interviews in 2023 resulted in affords for 2024 summer season affiliate positions, a decline of 6 proportion factors from 2022. The acceptance charge, alternatively, was 47%, a rise of 6 proportion factors from 2022 and the very best ever recorded by the NALP, indicating that college students have been receiving fewer competing affords.
The median variety of affords prolonged by regulation workplaces to 2Ls for summer season 2024 packages was seven affords, the bottom determine because the recruiting cycle for summer season 2010 packages.
The softened marketplace for 2024 summer season associates follows a report variety of 7,570 second-year regulation college students taking part in summer season affiliate packages in 558 regulation workplaces final yr. Amongst that quantity, 7,294 of the summers accepted affiliate affords.
“Recruited within the midst of the post-pandemic hiring surge, the whole variety of college students taking part in 2023 2L summer season packages was probably the most ever recorded by NALP and resulted in over 1,100 extra college students receiving affiliate affords this yr than in 2022,” the NALP report says. “Now dealing with the prospect of all these new attorneys flooding their workplaces within the fall, companies could have rising issues about absorbing further new expertise if shopper demand doesn’t enhance to maintain tempo and so they proceed to hold extra capability by 2024.”
The report additionally discovered that the normal car for hiring 2Ls—on-campus interviews—is declining as a recruiting technique. Solely 53% of summer season affiliate affords for 2024 packages have been made by this course of.
“What the info suggests is that OCI continues to be a helpful recruiting software,” mentioned Nikia L. Grey, govt director of the NALP, within the press launch, “however that companies are more and more viewing it as a car to ‘spherical out’ their summer season packages after participating in a vigorous spherical of pre-OCI recruiting to safe their ultimate candidates.”
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