Dorsey partner Christopher Karagheuzoff and associate Deirdre Sheridan discuss the rising rate of law firm associate attrition in the New York Law Journal. According to a recent survey, the annual associate attrition rate hit 19 percent, with approximately 80 percent of associates leaving their firm by the end of five years. These rates are creating a shortage of talent at the mid-level and senior associate ranks at many firms, and impacting the bottom line.
Karagheuzoff and Sheridan suggest that law students should first determine whether a prospective firm's practice areas and culture match their interests, and once hired to continually assess and reassess their skill sets and expectations. They also recommend that firms put processes in place to distribute work fairly, consider flexible work arrangements and reduced schedules that can actually lead to part-time partnership, and accommodate "off-track" positions when requested. Read the article (PDF).
"All the Mid-Levels Have Gone!" was published by the New York Law Journal, May 2007. Republished with permission.