This is a message to young law firm associates:
Your law firm cares about your personal and professional growth. But make no mistake, the law is a business – often a cutthroat one. Your firm has made a big investment in you in terms of salary, benefits, training and overhead. It expects a return on that investment. As a young lawyer, it’s important to understand how your firm perceives your value, and to a great extent it comes down to dollars and cents.
Law firms rely on leverage, which means having lots of associates in place to work and bill. Young associates should understand they are typically less valuable (in terms of dollars and cents) to their firms than their mid-level and senior associate colleagues. It’s a fact of life in today’s economic environment that clients are less willing to (as they see it) subsidize the on-the-job training of young lawyers by paying for unproductive time. This means that as a young lawyer you must be productive and effective – and not just busy – to stand out.