SEC ATTRITION RATES
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Anonymous
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Fascinating data — search for “The Inspector General’s Statement on the SEC’s Management and Performance Challenges, October 2022.” See pp 21-24.
Interesting how attrition went way DOWN in 2016-2020, then SPIKED in 2020-2022. Ironic. 20 percent SES attrition in 2022 8.5 percent for attorneys. What’s that going to be this year — probably at least double! |
Anonymous
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Attrition spiked in 2020-2022 bc law firms were hiring like crazy and it was work from home. We had a bunch of younger people leave who'd never done firm life and desired it who thought it'd be an easier experience being in biglaw while working from home.
Not saying attrition won't be huge now - it will be - but I think it'll be more VERA as people leaving are basically retiring/not worrying if they get a job again. Most people who need a paycheck aren't jumping on VSIP simply bc it's unclear how long it could take to land a job esp in DC; it's probably different in NY, ATL etc. |
Anonymous
| Apparently now so many have left they don't need to a RIF |
Anonymous
| Attrition rates were high circa 2022 because Gensler's overly ambitious agenda was grinding the staff down. If their job was going to be a grind, better to get paid private sector money. |
Anonymous
Nonsense. Nobody made them work overtime. They chose to do so. They could have worked at a normal pace. What would GG have done? RIF’d them? Convert them to schedule F and fire them? |
Anonymous
How do you know that? |
Anonymous
2021 was an unbelievably hot legal market. Anyone 7+ years out of law school at SEC/DOJ/FTC/others could easily grab a (non-equity) partner role somewhere. Not sure we’ll ever see that again. |
Anonymous
| It’s something like 147 took fork and 300took VERA/VSIP |