Firm Administrator, John Riggleman Comments on Coronavirus Impacting Law Firm Hiring
When the U.S. stock market went into a tailspin in the fall of 2008, the response among law firms was swift and nearly uniform.
Hiring ground to a halt almost immediately after the Lehman Brothers bankruptcy prompted a 4.5% one-day drop in the Dow Jones Industrial Average on Sept. 15. Law students who were lucky enough to have interviews that August received offers, but after the crash, even those from top schools with the shiniest of resumes got nothing.
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Same for Washington, D.C.-based tax boutique Caplin & Drysdale, although the timing was closer.
“[On campus interviews] just finished, and the summer offers are out,” said firm administrator John Riggleman. “Three weeks back, it probably would have had a greater impact.”
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Nonetheless, the mechanics of the hiring process are bound to be affected, and a slowdown in lateral hiring is a distinct possibility, if only for short-term practical considerations. Turning to Skype interviews is useful at the start of the process. “But at some point, [candidates] are going to have to come into the office and meet people,” Riggleman said.
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