Lawyers: Now Is Not the Time to Join a Law Firm
Posted by Elizabeth Zelinka
Most lawyers who are not currently employed in Big Law are not necessarily aware of the uncertainty facing many law firms. Lawyers working inside of companies, government agencies or non-profits are asking, “Can I get hired today in Big Law?” The better question is “Should I seek a position today in Big Law?”
My best advice today is a resounding “No.” Here’s why:
- Big business is expecting an ongoing contraction in its use of outside legal counsel
- The majority of Am Law 200 firms are struggling to cope with vast overcapacity
- We have not seen the end of Big Law layoffs or even the full extent of the major changes that are coming to this industry
- Longstanding law firms have dissolved based on a single bank’s decision to freeze or terminate a line of credit
- Firms have announced a policy of “no layoffs” and then conducted major layoffs only two months later
In short, no on knows (including Big Law) where Big Law is headed or how hard it will be hit in the long run. If you are not currently employed in Big Law, now is not the time to move in that direction.
Elizabeth Zelinka is a Consultant and Career Strategist with Zelinka & Prince Search Partners. She can be reached through her website at www.zpsearchpartners.com.
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