WSJ Law Blog’s “Rethinking Associate Pay”
Interesting article on law firm associate pay. Does this article merely confirm what we already knew?
What does it take to keep associates happy and committed to their firms?
Heaping wads of cash, right?
Not necessarily. In its annual associate satisfaction survey, the American Lawyer found that associates worked hard last year, logging 2,037 billable hours, on average. That averages out to almost 8 billable hours every single week day of 2010. Ouch.
The fact that associates billed more hours last year, in comparison to 2009, is good news for the industry. But, not surprisingly, associate satisfaction was down last year, according to AmLaw. (Click here to read an overview of the survey’s findings.)
If higher pay and special bonuses don’t make associates satisfied with their jobs, what will it take? Better work assignments? More courtroom experience? Less hours? More mentoring?
Is the billable hour to blame or does job satisfaction depend on each law firm’s culture and philosophy? Are associates expecting too much?
Let us know your thoughts.