Firms Weigh Slashes In Pay, Boosts In Training

Law360 (May 14, 2009, 12:00 AM EDT) -- In these harsh economic times, some law firms are thinking about seizing the opportunity to significantly lower the salaries of first- and second-year associates and shift to a system of more intensive training.

A move to a system that would be similar to that in the United Kingdom, Canada and other countries would benefit law firms and associates, consultants said. A change would also please clients who are clamoring for lower billing rates amid the downturn.

As it stands now, law school graduates have little to no practical experience and are ill-prepared to serve clients efficiently for the first two years,...

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