Quote:
Originally Posted by Unregistered
What do you guys feel about your job security in this present economic climate? I had always thought that junior associates were generally immune to layoffs in recessions, but recent conversations with friends made me question that thought.
Thoughts on this, people?
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My experience speaking from a med/small firm perspective.
Junior associates are generally immune to layoffs... so long as the firm continues to have work for them to do.
If files slow down or stop coming in altogether (think conveyancing), then junior asssocs are only as valuable as their ability to diversify their practice area, skills and knowledge. If said junior assoc also has a book, even better.
For example, if you're in a corp transactions team but the firm only has debt collection/insolv work at the moment, it's a matter of whether you'll take one for the team.
Junior assocs who can't adapt quickly enough will have a hard time. Conversely, junior assocs who can, will survive.