Big Law Hiring Slump Affecting Partners and Associates

The years of breakneck expansion in the legal industry are officially over—firms have now moved into contraction mode. While we're still not seeing Great Recession-style mass layoffs—yet—the downturn is generating plenty of anxiety.

On today's episode of our weekly news podcast, On The Merits, we do a Big Law roundup, featuring three Bloomberg Law reporters talking about their corner of the legal industry.

First, Meghan Tribe explains why the firm Cooley is offering incoming associates $100,000 to delay their start dates, and what that might mean for their careers.

Next, Mahira Dayal talks about the UK's so-called "Magic Circle" firms, and why they're waging—and, mostly, losing—a talent war with their American rivals.

Finally, Roy Strom brings us the story of a Big Law titan who got tired of the grind and gave up his enormous salary to become a local traffic court judge.

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