If a recession does happen, which seems quite likely now, what will return offer rates look like for 2L SAs this summer? Where do firms typically trim the weight first when this sort of thing happens? Do they lay off current associates, reduce class sizes for next summer, or no-offer incoming/current summers?
I would guess that we aren't looking at a 2008 level scenario--this is a result of artificial distortions, not some deep economic rot--but would love to get your insight here.
Going into v10 transactional on the West Coast if that matters.