By NALP Foundation
Download: MPF FEATURED WHITE PAPER – Should I Stay or Should I Go – NALP – 3-1-24.pdf
The full 140-page report – called the “Stay Study” – details the key factors driving associates’ decisions to remain at their law firms. It reflects data collected from 3,367 associates from 57 participating US and Canadian law firms. The “Stay Study” identifies the key reasons that associates elect to remain at their firms, collecting data on 15 factors important to associates (including firm policies, benefits, mentoring, firm culture, DEI support, and work/life balance) and segmenting the findings by seniority, firm size and location, and demographic cohorts. Not surprisingly, here are the top five reasons associates stay at their firms:
- Compensation – It was the #1 reason to stay across all categories, with base salary more important than bonus.
- Work-Life Balance – The #2 factor, with women placing higher importance on it than men.
- Career Path – Clarity around path to partnership and career options.
- Hybrid Work Policies – Female associates assign higher priority to a flexible work schedule.
- Firm Policies – Here, we are talking mostly about billable hour expectations.
Click here to learn more about the complete Stay Study.
NALP (National Association of Law Placement) has more than 3,000 members, including legal career professionals advising law students, lawyers, law offices, and law schools in North America and beyond. The NALP Foundation was formed in 1996 and is dedicated to advancing excellence in leadership, management, professional development, and professionalism.