For many of our lawyers, the process of professional growth at Richards, Layton & Finger began with our summer program, as most of the firm’s new associates come from our summer program each year. The goal of the summer program is to give law students (and future lawyers) a realistic view of work at the firm while also providing a range of activities to introduce potential associates to the directors of the firm, to the nature of the firm’s practice, and to the opportunities and lifestyle available in Wilmington. The firm selects its summer associate candidates carefully and extends offers to join the summer associate program with the expectation that the summer associate will succeed and will become a full-time associate of our firm upon graduation.
Next year, the firm anticipates offering twelve to fifteen summer associate positions to first- and second-year law students. We determine the size of the summer program with an eye to the firm’s hiring needs for the following year. This means that all summer associates have the ability to receive offers based on the merit of their work. Salaries for summer associates are competitive with those at much larger firms in much larger cities. Starting in 2007, summer associates will earn $2800 per week.
Summer Associate Rotation System
Summer associates are asked to rank their practice area preferences prior to their arrival in May. Each will be assigned to a department in which to start and will change departments midway through the summer. Notwithstanding this departmental assignment, summer associates are encouraged to seek out work opportunities in practice areas other than the ones in which they are currently working. This enables summer associates to experience the diversity of the firm’s practice and gain an understanding of the differences in the types of legal work available at Richards, Layton & Finger. Many summer associates opt to spend part of the summer in a litigation-oriented department and the balance of the summer in a transaction-oriented department. The rotation system also allows summer associates to meet and work with a number of directors and associates at the firm.
Summer Associate Mentor System
During each rotation, a director and an associate serve as the summer associate’s mentors. Summer associate mentors help introduce the summer associate to the firm, coordinate the summer associate’s work, and respond to any questions or issues that the summer associate may have. In addition, junior associates serve as buddies to summer associates on an informal basis to assist in their orientation to the firm and to life in Wilmington.
Professional Growth
Richards, Layton & Finger gives its summer associates valuable feedback to help them to develop as attorneys. Summer associates receive formal evaluations twice during the summer - at the midpoint and at the end of the program before returning to school. Assigning attorneys are also strongly encouraged to provide informal feedback to summer associates as each assignment is completed. Richards, Layton & Finger attorneys, the summer associates’ mentors and the firm’s Manager of Associate Development are always available to respond to questions or to give advice and suggestions.
Exposure to Firm Practice and Community
Richards, Layton & Finger provides summer associates with exposure to various practice areas at the firm. Summer associates are given the same level of work and responsibility that is given to full-time associates, including the opportunity to attend trials, hearings, depositions and transactional closings and to meet with clients. For example, last year a summer associate prepared a power-point presentation for a meeting of the Board of Directors of a major corporation to explain a stockholder rights plan being considered by that Board. In addition, informal seminars and luncheon meetings provide summer associates with the chance to learn about and discuss various aspects of the firm’s practice. A variety of social and cultural activities, such as cocktail and dinner parties at attorneys’ homes, rock concerts, and visits to museums, the beach and local sporting events, help to introduce summer associates to the firm’s attorneys and to the Wilmington area.
A Path to Success
The overall goal of the summer program at Richards, Layton & Finger is to provide potential new associates with insight into the nature of practice at the firm and an awareness of the opportunities available in Wilmington. The firm selects its summer associate candidates carefully and extends offers to join the summer associate program with the expectation that each summer associate will succeed in his or her professional career with our firm.
