Big law firms hired far fewer summer associates in 2023, according to new data gathered by the National Association for Law Placement (NALP).
Figures collected from over 180 U.S. law firms showed a 19% drop in the number of summer associate positions offered last year.
Typically, large firms hire second-year law students to work as summer associates. If the student performs well at the firm, he or she will be offered a fulltime position after graduation.
NALP’s executive director, Nikia Gray, speculated that the decline in summer positions could indicate reduced demand for legal services and/or over-hiring in previous years.
The new data could also suggest reduced earnings in the near future for large firms. According to an article published today by Reuters, “summer associate recruiting is something of an economic barometer for Big Law, with firms hiring heavily when they are optimistic about future demand, and pulling back when they sense declines.”