Justifying summer student pay [split]

[leafs_law]

It seems those participating in this debate might agree on at least three potential cohorts of students:

1. Not Profitable (taken on entirely altruistically);
2. Profitable Overall (taken on to assess and identify talent, with the expectation of future profit); and
3. Likely Profitable Now (without consideration of talent retention).

All exist, and there is often some overlap.

Not Profitable: Some firms and solos take on students just to give back. I believe this scenario to be in the minority, but it happens regularly.

Profitable Overall: Many more practices take students on to secure an advantage in retaining them (because these students are identified to potentially become lucrative associates and/or partners). These individual students can also be profitable prior to retention.

Likely Profitable Now: Some take on students because (for example) they have more work than they can handle without the students but cannot afford to hire another lawyer. The students free up lawyer time to bill at a higher rate and/or engage in business development. This hopefully results in further profit, but success depends on the merits of the lawyer's business case for hiring the student and also the student's actual fulfillment of that business case.

[myth000]

"Opinions are like assholes, everyone has one" - Sealion

"The plural of anecdotes is not data" - Sealion 

 

[LMP]

31 minutes ago, XXX said:

"Opinions are like assholes, everyone has one" - Sealion

"The plural of anecdotes is not data" - Sealion 

 

Stop posting stuff like this. It isn't witty or funny to spam quotes instead of engaging in conversation. You've been warned about this. 

[Renerik]

This thread ran its course.