The executive matching is a pretty smart thing to do. Another company I used to work at would fail the HCE test and we'd get screwed, because most people were too stupid to contribute to their 401k plans.
Read an article on CNN recently that law firms are reducing headcount so a lot of law grads are looking into blogging or something. But there will always be a need for lawyers.
After the financial collapse law firms had to change their business model. It really became an issue of companies dramatically lowering their legal spend and long gone are the days were average partners billing $1000/hr (I think the highest I ever read was somewhere along the lines of $13-1400/hr). Quite a few huge law firms went belly up.
At the same time you had very high law school attendance (not to mention unsustainable increases in tuition fees). These kids were exiting law schools with literally no job prospects. For the most part the Top 10 schools were okay from a hiring after graduation perspective, but Tier 2 and below were just devastated. $150K in debt and no income, you're gonna have a bad time.
The model had to change for firms to survive and we are still not out of it yet. We are a plaintiff's firm so not hit quite as hard.
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