bad ECONOMY = bad FALL 2008 OCIs?

[1LMan]

LoL, POTUS, you are a cocksucker dude lol.  You act like anything you say to me matters.  It seemed like the dude was being a prick when mike obviously meant first year associate.... Yet here you are pointing out my comment, rather than the other posters bad comment.

Get off my nuts lol.

[emtjp1028]

Leap?  This thread is about OCI.  Captain discussed how Emory was at full capacity for OCI.  I simply was discussing how hiring summers, or even if youd like, a few first years, simply do not generate the cash flow or the clients that a partner generates.  Now, please do not respond that you have a job, blah blah...  I do not have the time nor would I like to waste the effort...

[POTUS20]

LoL, POTUS, you are a cocksucker dude lol.  You act like anything you say to me matters.  It seemed like the dude was being a prick when mike obviously meant first year associate.... Yet here you are pointing out my comment, rather than the other posters bad comment.

Get off my nuts lol.

Thank you for proving my point.

[uart]

Leap?  This thread is about OCI.  Captain discussed how Emory was at full capacity for OCI.  I simply was discussing how hiring summers, or even if youd like, a few first years, simply do not generate the cash flow or the clients that a partner generates.  Now, please do not respond that you have a job, blah blah...  I do not have the time nor would I like to waste the effort...

Agreed. Partners generally bring in clients and money. That is why they are partners. BUT if you had 5 partners in structured finance, you're better off firing two partners than a bunch of 1st year associates. Why? Because there isn't as much business to be brought in, and the Partner costs more money to retain.

[thorc954]

I don't know, with all the blogs and internet out there tracking who is getting laid off, I think SA's are more hesitant to go to a firm that is laying people off. It would make me personally scared that they wouldn't offer me a job at the end of my SA.

I don't think it's going to have that huge an effect on OCI, but it seems like firms are taking smaller SA classes. I've also heard rumors from scared 2L's who have heard that their firm overbooked it's SA class, and will not be offering as many spots. If that happens, there will be more 3L's participating in Fall Recruitment. I'm not sure how that would effect 2L's interviewing for an SA position, but I don't like the sound of any of it.

everyone i spoke to had larger summer classes this year then last, including my firm... Kinda intimidating.  However, I doubt a bunch of no-offered 3L's will create any competition for 2L's during OCI.  It looks like most firms will be no offering, so I cannot see how they could possibly justify no-offering qualified SAs at the end of the summer only to turn around and hire 3L's that were no-offered elsewhere. 


Oh, and, it wasnt listed on that first list, but Theilen Reid (sp?) revoked some of their incoming summer classes offers and also cut back the duration of the summer program from 11 weeks to 8 weeks.  Very scary situation for those SAs still working there.


My bet is the economy will pick up following the presidential election and firms will give out the usual offers to both current 2Ls and rising 2Ls.

Any think it would be entirely inappropriate to email my firm and ask if the economy will have any impact on the summer program? I wanna line up an exit strategy in case I get a no-offer at the end of it.   

[KC#11]

I don't know, with all the blogs and internet out there tracking who is getting laid off, I think SA's are more hesitant to go to a firm that is laying people off. It would make me personally scared that they wouldn't offer me a job at the end of my SA.

I don't think it's going to have that huge an effect on OCI, but it seems like firms are taking smaller SA classes. I've also heard rumors from scared 2L's who have heard that their firm overbooked it's SA class, and will not be offering as many spots. If that happens, there will be more 3L's participating in Fall Recruitment. I'm not sure how that would effect 2L's interviewing for an SA position, but I don't like the sound of any of it.

everyone i spoke to had larger summer classes this year then last, including my firm... Kinda intimidating.  However, I doubt a bunch of no-offered 3L's will create any competition for 2L's during OCI.  It looks like most firms will be no offering, so I cannot see how they could possibly justify no-offering qualified SAs at the end of the summer only to turn around and hire 3L's that were no-offered elsewhere. 


Oh, and, it wasnt listed on that first list, but Theilen Reid (sp?) revoked some of their incoming summer classes offers and also cut back the duration of the summer program from 11 weeks to 8 weeks.  Very scary situation for those SAs still working there.


My bet is the economy will pick up following the presidential election and firms will give out the usual offers to both current 2Ls and rising 2Ls.

Any think it would be entirely inappropriate to email my firm and ask if the economy will have any impact on the summer program? I wanna line up an exit strategy in case I get a no-offer at the end of it.   

Thorc,

Don't do that. Have faith in yourself, and your work product. Leave it all out there, and let it speak for itself. You'll be fine!

[jacy85]

Any think it would be entirely inappropriate to email my firm and ask if the economy will have any impact on the summer program? I wanna line up an exit strategy in case I get a no-offer at the end of it.   

I don't think an email is necessary.  But...it wouldn't hurt to come up with an exit strategy anyway.  Most of your energy should be in doing well, being well-liked, doing good work, etc. to try to ensure that an exit strategy is unnecessary.  It never hurts to brainstorm and be prepared though!

[1LMan]

Thorc, chill out haha.  Also Thelen Reid did not revoke summer offers, but they did cut back on the length of the summer program.  There is no way they could ethically revoke offers, it would be a *&^% storm.  However, I'd be equally as pissed if I had an offer with them and they cut off 4 weeks.  You are talking 12 grand there..... 

Regardless, I still think people need to stop freaking out.  Law firms are huge businesses.  They forecast for years to come and I find it hard to believe that the majority of law firms would no offer large numbers of summers.  If word gets out that a firm did that, it could prevent them from recruiting top notch candidates in the future.

Just go work hard and chill.  Freaking out doesn't do you much good.

[thorc954]

hahah, but I am not very likeable

alright, i will not write them but will keep my options open.

I am almost positive that Theilen cut back.  I heard it from a pretty reliable source.

Anyway, I have to get all my freaking out done with before the summer so I can go in with a positive outlook

[1LMan]

Abovethelaw.com posted on the Thelen situation, and they definitely did not cut summers.  Check it out:

http://www.abovethelaw.com/2008/03/nationwide_layoff_watch_thelen.php