{ "media_type": "text", "post_content": "Do you think it’s less likely for firms to let go of specialty corp associates rather than gen corp/ M&A associates in a few months/years when this market turns down again? Gauging if I ducked up by lateraling lol and no offense to gen corp🥺", "post_id": "60fb3050226d5d002b6d29cd", "reply_count": 9, "vote_count": 8, "bowl_id": "5df70ed2f7169f002b172d3f", "bowl_name": "Big Law" }

Do you think it’s less likely for firms to let go of specialty corp associates rather than gen corp/ M&A associates in a few months/years when this market turns down again? Gauging if I ducked up by lateraling lol and no offense to gen corp🥺

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No one can predict the market. There’s no guarantee the market will turn in a few months/years. Sure at some point it will because what comes up must come down, but I focus on the today. I just can’t ever see another ‘08 ever happening. But who tf knows

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One thing a lot of firms learned in 08 is that if you lay off a bunch of people, it might save you SOME overhead, but not much bc an associate can bill at 30% of their hours and still cover their salary comfortably, and cover other expenses if they do more than that. And then you are scrambling in 2-3 years when the market picks up bc you don’t have the people. It’s much better to prioritize keeping attorneys who are meeting expectations employed and find other ways to cut the budget (cancelling real estate projects, etc).

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What specialty corp group are you referring to

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This is the way.

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Same but Tax

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Realistically, if you’re at a v10 they’re probably not going to be letting anyone go in a market downturn

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