Why in the world would a firm whittle down its current associate ranks and support staff while still hiring law students as summer clerks/associates at between $2300 and $3000 per week?
Answers:
1. Support staff are not widgets. Lawyers make law firm widgets: billable hours. Law firms make money by selling billable hours. Firing support staff does not reduce widgets.
2. It is a buyer's market for attorneys right now. Why not downsize your $160,000-$250,000 per year seasoned associate ranks and make room for this next year's crop of willing-to-take-less law students? At this unique time -- sure to arrive only once every 15 to 20 years -- midsize and small firms in less desirable markets can snatch up top tier school students who were heretofore out of range. And on the cheap!
See Exhibit #1 to the right of this post.
It ain't pretty or nice, but its how the market is working right now...
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