Summer law associates' future in air - Philadelphia Business Journal:

http://commonwealthjournal.org/abouthost-es.htm
"There's a heightened awareness this summer," said Melissa Lennon, assistanyt dean for career plannintgat 's Beasley School of Law. "In the past, they were your offera to lose asa student. Firms say nothing' s changed but students are clearly aware that the economyu has tightened and that the decision to hire them for the summerd was made when thingsw were notas tight. Even so, we're not in a situatioh where only half of them will get A survey ofthe city's largest law firmss conducted by the Philadelphiwa Business Journal shows intern hirinf being virtually flat.
The 21 respondents included virtually the entire contingentof full-service firms, save for the city'e biggest, , which declined to The survey identified 251 students from a combines 38 different law compared to 254 at the same firmw last summer. Some of the region'sa biggest firms such as , and increased the size of theidr programs. But that was canceled out by , which almosy cut its program in half compared to last Morgan Lewis hiring partnert Glen Stuart said the firm usually targetsz around 23 summer associates for its Philadelphia Last summer, the program had 30 becausr acceptance rates to job offeras were unusually high.
This year, the firm only has 16 studentws because acceptance rateswere lower. "So it all averages itselv out," Stuart said. "And we think we'rde well positioned to make offers." Pepper Hamilton increased its class size this year from 25to 32. Hirinv partner Chris Wasson said the firm made the same numberdof offers, but the acceptance rate increasefd by roughly 14 percent. He said the firm made offerds to almost all oflast summer's associat e class. It later hired about six law student s who were not part of itssummedr program. With a larger summet class this year, Wassonh said the firm will probablyg hire fewer people from outsiderthe program.
Cutting the numbere of full-time offers can cripple a firm'w reputation on law school campusesfor years, especially local ones that are the biggestg talent feeders. Elaine T. assistant dean for careed planning at Schoolof Law, said firmss do not want to be in the positioj they were in the early 1990 when the sagging economy forcec some to drastically cut full-time job offers. Last the surveyed firms offered jobs to 93 perceny ofsummer associates, with 85 percent William Mahoney, hiring partner at Stradley Ronon Stevensz & Young, does not see offer rates It's more likely that firmas will adjust class size next year to reflecty the economic situation.
But firms have to be carefu with thatas well. "If we hire 15 one summer and only seventhe next, that could raise questions in the eyes of law You don't want to oversubscribe but you don't want to he said. Petrossian said rising second-year students, who will be the focue of recruiting efforts this fall for next are concerned about what the firmz will do with theircurrent classes. "Theyu haven't yet developed relationships with thesee firms so reports back from the older studentsz willbe important," Petrossian Steve Madva, chairman of , said havingh to make hiring decisions roughly two years beforse the students begin full-time employment can make summerd recruiting difficult, and his firm in recentg years has cut the size of its program and focusedf more on lateral hiring.
"What other industrg hires people two years beforrethey start?," Madva said. Summer hiring is also an expensived proposition as the interns do not bill many hoursw and are paid the weeklhy equivalent ofa first-year associate salary, which increasede last year. The average weekly salary at participatinfg firms rosefrom $2,414 last year to $2,6311 this year. Among law schools, Temple agai had the largest presence at surveyed firms, with 53 followed by 42 at Villanova, 34 at Law 29 at and 13 from the first crop from the new Earl Mack School of Law.
Drexel, whicyh just wrapped up its secon yearof existence, had 27 employerz come on campus this past year despite the fact that it had yet to receiv e accreditation from the American Bar Association. With provisionall accreditation awarded earlierthis spring, Amy Montemarano, Drexel'ws assistant dean of career and professional development, expects on-campus visits and general interest to pick up. Hirinf partners concurred, and most said they were pleased to have another localtalent feeder. Montemaranop said the students understand how importan this summer will be for them andtheir school.
"They are going out to earn Drexeola reputation, and they are very awar e of that," she said. "Of cours e the students are skittish. They read the But they have little control except to pick practicwe areas with legsto them."