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Associate Salaries Freezing Due to Worsening Economic Conditions; LawCrossing Offers Lucrative Job Offers
January 09, 2009
Pasadena, CA – Many law firms have affirmed that there would not be any substantial growth in the earnings of their attorney staff this year, as they try to face the increasingly turbulent recession. Many firms have also resorted to cut on annual partner promotions. LawCrossing, the legal industry's most reliable job board, now offers more than 139,604 live and active legal job listings to battered job seekers, who live in fear of losing their jobs. The legal job board has not been adversely affected with the prevailing recession; instead, the site has added more than 17,000 new jobs in the last seven days. ''As we all know the legal job market is experiencing unprecedented volatility and it seems clear that these challenges will continue into 2009,'' says Harrison Barnes, CEO and founder of LawCrossing. ''However, LawCrossing has been relentlessly finding jobs from every possible source and adding them to its database to support the needs of thousands of legal job seekers.'' Various US firms have cut annual partner promotions amid mounting concerns about the economic downturn. Mayer Brown, Milbank Tweed Hadley & McCloy, Simpson Thacher & Bartlett, and Weil Gotshal & Manges have all added fewer people to their partnerships than in 2007. This is because the entire legal job market experienced a significant drop in workflow during 2008, along with unprecedented layoffs. Weil Gotshal & Manges has seen the biggest decrease in its promotions. Promotion figures in the firm dropped by 35%, from 20 promotions in 2007 to seven promotions in 2008. Also, according to a data released by the US Department of Labor, employment in the legal services sector had dropped by 1.3%, a loss of 15,600 jobs from May 2007 to September 2008, indicating a major drop in legal business. Various law firms have reduced the size of their summer associate programs in light of the weakening economy, and some firms have been strictly evaluating employee performances in order to indirectly cut staff. Barnes adds, ''If the firms pass up good opportunities and don't promote lawyers who could be a real asset, they could potentially damage their future after the markets have recovered. The economy is in a crisis all right. But the flip side to every crisis is another opportunity. LawCrossing offers not one or two, but hundreds of thousands of new legal opportunities,'' says Barnes. The 139,000-plus legal jobs listed on LawCrossing comprise attorney jobs, law student jobs, paralegal jobs, and other legal openings. The current job counts for each of these categories are as follows: Attorney jobs (34,825) In-house jobs (18,986) Law student jobs (12,760) Law student clerkship jobs (6,005) Legal staff jobs (15,062) Post graduate clerkship jobs (1,312) Summer associate/internship jobs (2,719) For more information on LawCrossing, please visit www.lawcrossing.com. Contact: Mary Wilson, Editorial Coordinator 626-243-1821 LawCrossing mary@lawcrossing.com About LawCrossing LawCrossing is an affiliate of EmploymentCrossing, a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. LawCrossing consolidates every legal job opening it can find in one convenient location. LawCrossing was ranked 72nd on the 2007 Inc. 500 list of the fastest growing companies in the US. The website also offers a seven-day free trial to new members.
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