Cravath’s 2021 Associate Exodus Tells Big Law Attrition Story
“Attrition is a top concern across Big Law and I found last week that its spike cuts evenly across a group of 10 of the most prestigious firms and the 10 best places to work, as ranked by Vault. But the prestigious firms are hiring a lot more associates this year than the best places to work, I wrote. Underneath that top line data, one prestigious firm bucked the trend Cravath, Swaine Moore,” reports Roy Strom in their Bloomberg Law.
“The Wall Street firm placed No. 1 in the Vault prestige rankings this year and last. But that hasn’t made it immune to associate attrition. In fact, associate departures at Cravath are on pace this year to rise to their highest levels since at least 2017, according to data from Decipher, which provides due diligence for Big Law hires, and Firm Prospects, which tracks law firm rosters. Cravath had seen 68 associates depart this year through Monday, the data show.”