Bloomberg Law
Jan. 13, 2022, 10:30 AMUpdated: Jan. 13, 2022, 9:15 PM

Record Salaries Aren’t Stopping Associate Turnover ‘Crisis’ (1)

Roy Strom
Roy Strom

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at how attrition rates have spiked and the longer-term problem that represents for Big Law. Sign up to receive this column in your inbox on Thursday mornings.

“The crisis is real.”

I did not expect to hear those words when talking about Big Law’s best financial year in over a decade. Billing rates were up, and revenue and profits likely achieved record-setting levels.

Yet the crisis is among the people who bear the brunt of those growing workloads—associates. ...

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