Finally, Some Good News

Job prospects are finally improving for young attorneys in search of first-year associate positions.

According to data collected by the National Association for Law Placement, a slowdown in entry-level hiring at firms of all sizes and in all regions of the country seems to have ebbed in 2003, with a significant stabilization trend occurring in last year's recruiting season.

"Things look good for law students," said T. Robert Zochowski Jr., hiring partner at Shearman & Sterling. "It's not as frothy as it was in the '90s, of course, but for students seeking a career in the law -- as opposed to investment banking -- things have definitely improved."

James Castro-Blanco of Fried, Frank, Harris, Shriver & Jacobson agreed, citing general business improvement at his firm -- including a pickup in corporate practice, an area that shrunk measurably at most firms due largely to the national economic downturn following the Sept. 11, 2001, terror attacks.

Zochowski said campus recruiters for large firms such as his would be looking "deeper into class" at the top-tier law schools, thus expanding opportunities. In addition, he said, recruiters are giving more consideration to graduates of second- and third-tier schools.

At -13.4 percent, the far western states posted the biggest negative hiring rate between 2002 and 2003, due in large measure, the survey details noted, to the economic volatility of the Silicon Valley in northern California. In 2004, the far West's steep hiring decline was actually reversed, with a positive increase of 6.8 percent -- the only plus-side figure reported anywhere in the country during the last two survey cycles.

While the association's latest survey did not deal with hiring trends according to practice area, Zochowski made two predictions.

"You may see newer practice areas emerging, such as white-collar advisory practice," he said. "And there is a good market now for careers as in-house counsel."