EXECUTIVE EXITS – Other than not wearing ties as often anymore, what do NBA coaches and law firm leaders have in common? Both are on the hot seat right now. As Law.com’s Gina Passarella writes in the latest Barometer newsletter, there have been frequent discussions since the pandemic about the type of leaders needed to run modern law firms. And recent leadership changes at a few large firms highlight the questions around what type of organization can thrive in the current economic climate. Leaders of law firms whose partners don’t feel they can adequately answer those questions may find themselves on an increasingly shrinking timeline. “As the profession continues to mature into an industry, for better or worse we may see more willingness to change executive ranks at law firms as the situation requires, not just when a term limit is up,” Passarella writes. To receive the Law.com Barometer directly to your inbox each week, click here.
NOT SO BIG ON BIG LAW – Lawyers and aspiring lawyers in Gen-Z are moving away from Big Law and traditional law firm career paths, according to a new survey. Among law school students who said they want to work at a firm after they graduate, about 39% said they wanted to go to a Big Law firm—a roughly 20% drop since 2020, according to a report on Gen-Z lawyer preferences from Major, Lindsey & Africa, published this week. As Law.com’s Andrew Maloney reports, the numbers for current lawyers and clerks in the cohort showed a similar trend. About 30% of those who already work in the profession said they wanted their next job to be at a Big Law firm, while 17% said they’d like to be at a midsize firm, and 6% pointed to a boutique.
