We're still not sure what to call these quasi-cutbacks; they are not quite layoffs, but they certainly are not good news for the job market. Regardless, we have received more bad news. The local office of national firm Ballard Spahr Andrews & Ingersoll (which acquired Curran and Parry about two years ago to establish its valley presence) has delayed the start dates for its newly-hired associates until Fall of 2010. No word on whether the associates were offered a "Latham" ... but we seriously doubt it.
This comes as a bit of a shock to us, because at this time last year the firm was boasting that profits were up 15 percent, totaling $280 million for 2007. Additionally, the firm had established one of the best associate pay scales in the valley, starting its first-year associates at $133,000 (remember ... back when "Magic Numbers" used to matter).
We understand that these firms are running a business, but isn't this a little late in the game to be calling audibles?
Not quite a "Latham" but they are offering associates something extra:
ReplyDeletehttp://abovethelaw.com/2009/03/nationwide_start_date_watch_ba.php
They can't have had more than 1 - 2 incoming associates, right?
ReplyDeleteI'm curious to know how many upcoming May 2009 Boyd grads have had their offers rescinded or delayed (from an offer for work in Vegas), and how many Boyd 2L's had their summer associate offers rescinded or delayed (from an offer for work in Vegas).
ReplyDeleteI have a friend in the 2011 graduating class who is a little nervous seeing the 2009/2010 graduating classes having these problems. Hopefully the economy will be back by then - or we have more issues in the next few years than just employment.
Re: anon @ 12.
ReplyDeleteIf you go to Boyd, there's only 10-15 good summer associate placements each year even in a good economy, so chances are your friend will be screwed with or without an upturn in hiring.
What are those 10-15 good jobs?
ReplyDeletewww.nalpdirectory.com
ReplyDeleteBallard has two incoming associates.
ReplyDeleteOne of those incoming associates split the summer with another big firm in town, and then decided to go with Ballard. The other big firm has not deferred its incoming associates. I'm the associate could not have foreseen this, but it sure makes for some second guessing.
ReplyDeleteToo much capitalism and not enough corporate responsibility. They promise things but then don't deliver on the promises because they've been too busy lining their pockets instead of ensuring the solvency of the business.
ReplyDeleteThanks for sharing very nice.............
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