The National Association for Law Placement (NALP) released good news earlier this week. Biglaw offer rates to summer associates jumped to almost 97%. Furthermore, the acceptance rates of those offers jumped to 88%. To put this in perspective, recent Biglaw offer rates had been around 95% with acceptance rates around 85%. Unfortunately, an otherwise weak 3L job market is responsible for the higher acceptance rates.
James Leipold, the NALP’s Executive Director summarized, “After a period of great volatility following the recession marked first by a prolonged slowdown in law student recruiting and then a period of rapid escalation in recruiting, we have seen the recruiting market stabilize over the last four or five years.”
Furthermore, NALP further studied the law school students’ biggest decision factors. It concluded the two main factors were office location and the people. A lot is at stake as starting Biglaw salaries have now reached $190,000.