After two years of turmoil, the nation’s largest law firms are settling into a new normal. That’s the takeaway from The American Lawyer ‘s 2010 survey of leaders of Am Law 200 firms, which suggests that many of the changes implemented during the recession–smaller associate classes, postponed start dates for new hires, reductions in the equity pool, and scaled-back profit expectations–are here to stay, at least for a while.
COVER STORY:
The New Normal
Lower leverage, softer profits,and more deequitizations. The recession’s stopgaps are becoming a way of life.
By Claire Zillman
