September 1, 2009 9:53 AM
Summer Associate Blues Hit Cravath, Weil, Others
Posted by Zach Lowe
The New York Law Journal surveys the fallout from the recent round of on-campus interviews and finds that, not surprisingly, even the cream of the crop among New York-based firms are planning much smaller 2010 summer associate classes.
Among the new findings the NYLJ turns up:
• Cravath, Swaine & Moore plans to hire "less than half" its usual number of summer associates, according to Rowan Wilson, the firm's hiring partner. Cravath welcomed 160 summers in 2008 and 120 this year. Wilson's remarks to the NYLJ are even scarier than the thought of Cravath bringing in a paltry 60 summers: "We don't know really what is going to happen with offers we make [this year]," Wilson told the NYLJ, an Am Law Daily sibling publication. "We could wind up with ten summer associates, we could end up with 50 or 60 summer associates."
• Weil, Gotshal & Manges, riding high on bankruptcy work, plans to reduce its summer class by an unknown percentage in 2010--and to defer jobs for those summers who land offers until 2012.
The prospect of smaller classes has career services officials pushing students to quickly accept any offer they like instead of holding it open for up to 45 days, the maximum under guidelines set by the National Association for Law Placement.Make a comment