Study Finds that Most 2019 Law School Graduates are Satisfied with Their Jobs

Almost half, 47 percent, of lawyers from the Class of 2019 report that they are “extremely satisfied” with their current employment. This is according to the recently published Law School Alumni Employment and Satisfaction, a joint study by the NALP and NALP Foundation. Another 38 percent of the Class of 2019 reported that they feel “somewhat satisfied” with their employment. And a record low, 13 percent of respondents, reported that they are actively seeking a new job. 

The annual study collects information from law school graduates three years after graduation to learn more about their employment and satisfaction. This year’s data included 1,927 graduates from 42 U.S. law schools. The high rate of satisfaction for the Class of 2019 compares favorably to last year’s report (which included 2018 graduates), where only 42 percent reported being “extremely satisfied.” 

Respondents’ reports of high satisfaction, however, may disguise the high mobility they have experienced in the few years since departing law school. Almost three-quarters, 71 percent, reported having had two or more sequential positions since graduation. Among the group who had more than one position since law school, most switched jobs for better compensation/bonuses (62 percent) or because of “attitude ‘fit’ concerns” (42 percent). School debt continues to impact their choice of job and employment sector, as well as other life decisions, including purchasing a home and having children. 

Almost Half of Young Lawyers Express Willingness to Leave Employers for Greater Flexibility

A divide between newer and more experienced lawyers is emerging in the wake of Covid. Earlier this week, the American Bar Association (ABA) released its 2022 Practice Forward report, which showed that almost half (44 percent) of lawyers with ten years of experience or less would be willing to leave their current employer for one that offers more remote work. Just 13 percent of those with 41+ years of experience said they would leave.

The report, published with the purpose of gaining an understanding of the “new normal” that legal professionals and employers face post-pandemic, includes survey responses from nearly 2,000 ABA members working in jobs requiring a law degree. 

Three-quarters of respondents expressed a willingness to work in the office any time their employer asks (81 percent of men and 68 percent of women), but the strong majority of all respondents—nine in ten—reported that remote work either improved, or did not adversely affect, their work’s quality. Women were more likely to report that their work metrics (work quality, productivity, billable hours) improved.

Almost half, 47 percent, of respondents said that remote work positively impacted their ability to balance work and family obligations. Among women, 56 percent felt that it improved their ability to find balance. Just over a quarter of respondents, 27 percent, reported that remote work increased the quality of their mental health while the majority noted that it had no impact (57 percent). Almost half of survey respondents noted that remote/hybrid work diminished the quality of their relationships with co-workers, and 61 percent said that it decreased their professional network. 

The report’s findings demonstrate that, in order to retain a younger generation of lawyers, firms and legal employers must create remote/hybrid work policies that are nuanced and cater to individuals’ needs rather than mandating one-size-fits-all policies.  

Employment Market “Strongest Ever” for 2021 Law School Graduates

The National Association for Law Placement’s (NALP) latest data release confirms that the employment market for 2021 law school graduates was “one of the strongest ever.” 

The report’s findings include:

• The overall employment rate for the 2021 graduating class, 91.9 percent, increased 3.5 percentage points from 2020, and matched the record employment rate set by 2007 graduates. Conversely, the unemployment rate (measured 10 months post-graduation) fell three percentage points in 2020 to 6.3 percent, and those unemployed and seeking employment fell from 8.1 percent to 5.2 percent. 

• Full-time, long-term, and bar passage required jobs, the gold standard among law school graduates, increased 4.3 percentage points from the previous year, to 76.7 percent—a record high.

• The percentage of those taking private practice jobs came in at its highest level (57 percent) since 2003. 

• An increasing proportion of graduates also entered into public interest employment. Employment in public interest has gradually increased over the past five years and this year matched the previous year’s record high of 8.7 percent. 

• Other employment sectors held steady. The number of 2021 graduates taking judicial clerkships came in at 3,402; it has been between 3,100 and 3,500 since 2008. Similarly, 11.1 percent of 2021 graduates chose government employment (non-judicial clerkship), which is on par with the 11 to 13 percent who have entered this sector post-graduation for more than 20 years. 

• The Class of 2021 graduates also garnered record salaries. The class’s mean salary increased 6.4 percent (from 2020) to $109,469. And the median starting salary increased to $80,000, up $5,000 from the previous year. Law firm hires received a mean salary increase of 6.6 percent to $137,844; the median salary increased from $130,000 to $131,500. Among the largest law firms, starting salaries jumped from $190,000 to $205,000 (and in some cases, $215,000). 

James G. Leipold, Executive Director of the NALP, summarized the findings in the report, “This is as strong a set of employment and salary outcomes as I have seen in my more than 18 years here at the NALP. Certainly, they confirm that the slight downturns in many markers measured last year were not the beginning of a larger downturn in the job market but instead were one-time downturns that reflected the market interruptions and many complicating factors brought on by the onset of the COVID-19 pandemic. Notwithstanding those interruptions, the legal employment market for new law school graduates has remained strong, and as we have seen in the past, remarkably resilient despite economic challenges.”

Report from Thomson Reuters Institute Finds Law Firm Leaders Most Concerned about Recruiting and Retaining Talent

According to a newly published Thomson Reuters Institute report, law firm leaders see talent as their biggest concern. The report summarized interview findings from several dozen global law firm leaders, and explored the most pressuring current issues, which also included the challenge of creating a compelling firm culture. 

Leaders expressed concern about the upward wage pressures resulting from the current competitive environment for firm associates. And almost all leaders—regardless of firm size— spoke of feeling financial pressure. Those who feel unable to keep up with the salary increases said that they are unsure of how to recruit and retain associates in this market. Leaders at some of the large firms mentioned that they have expanded their geographic recruiting base. While this has increased the talent pool for those large firms, it also means that smaller and mid-size firms who did not previously compete for talent with large firms, are now feeling the impact.

In addition to recruiting, leaders are thinking more meaningfully about ways to increase retention. They note that, given the recent reliance on remote work, culture-building efforts should be a priority within firms. This means addressing burnout and wellbeing concerns among employees, as well as finding ways to increase “cohesion and camaraderie” among teams that no longer work together physically on a daily basis. Leaders shared that many associates continue to request flexibility.

Leaders also noted an increasing emphasis on creating ESG (environmental, social, and governance) policies and initiatives, which they see as a part of defining firm culture. ESG, they report, impacts both talent recruitment and retention and client relations. With employees working remotely, it becomes more important to ensure that the firms’ values and priorities, and related ESG initiatives are in alignment, and are coming across consistently in both written and spoken communications. 

Finally, leaders said that they are worried about client management. With their many internal firm concerns related to talent, culture, and the changing ways of working—including technology—they fear that client relationships will not receive the time and attention they need.  

Virtual Interviews Continue for Law Students Applying to Summer Associate Positions

Law360 just released its annual Summer Associates Survey. This year’s survey, with responses from over 1,000 current law students (predominantly in their first and second years), examines the process by which students match with summer associate positions at law firms, specifically the interviewing process, firm selection criteria by students, and the impact of COVID-19 on summer internships.

Interviews 

On average, students reported applying to 17 firms for summer associate positions (with a median of ten). Through on-campus interview bids, students received an average of 5 interviews during early interview week (with a median of two). Overall, the average success rate of obtaining an interview was 34 percent, although 30 percent of applicants did not receive any interviews during early interview week. 

Five law schools (of the 29 with data published) had success rates of students garnering interviews of over 50 percent. They were Harvard (66 percent), Columbia (61 percent), NYU (5800 percent), UCLA (54 percent), and UC Berkeley (53 percent). NYU students, on average, received the highest number of interviews per student at 15.7, followed by Columbia (14.0), UCLA (12.6), and Harvard (12.4). 

The majority of respondents reported that all of their summer associateship interviews were remote, although at 69 percent, the number has decreased significantly from 82 percent last year.

Student Selection Criteria

Among the criteria for selecting a firm for a summer associateship, students ranked “practice areas available” as the most important (54 percent), followed by geography (51 percent), firm reputation (39 percent), and culture advertised (36 percent). Just about one-third (34 percent) viewed the option to report virtually to the associateship, with no need to physically relocate, as important or very important. 

Student Support

Students were most likely to rely significantly on their law school’s career services office (26 percent) to navigate the law firm selection process. However, they also said they rely on alumni working in firms as associates (20 percent) and friends working at firms (19 percent) as key resources.

While about two-thirds of respondents (61 percent) said that their law school prepared them for on-campus interviewing with mock summer associate interviews, the remainder said they did not (39 percent). 

Covid-19 Impacts

While the effects of the pandemic are still present for some 2022 summer associates, the impact is decreasing in scale. Almost all students, 92 percent, said that, if given the option, they would report to the office for their 2022 summer internship. 

When asked how the covid-19 pandemic has affected their summer associateship programs:

• One-third of respondents reported that they believe covid-19 has hindered their ability to network with attorneys at potential internship firms in a moderate to significant way, which is a sharp decline from 58 percent last year. 

• About a quarter of respondents, 24 percent, said they will be working in a hybrid role this summer (part virtual, part in-person), and 9 percent will work fully remote. 

• 37 percent said that during their interview process, they encountered a firm that would allow them to report virtually to the internship while living in a different city, whereas the remaining 63 percent did not receive such an offer. 

Student Concerns

Students’ biggest concerns going into their summer associate positions are an inability to connect with colleagues/mentors due to remote work (25 percent), not being up to the workload (25 percent), and not getting hired at the conclusion of the summer position (24 percent). 

Find the full report here.