Academic

Milbank Tweed and Harvard Law School have announced a joint effort to provide Milbank's associates with 8 days a year of training in business, finance, accounting, negotiation and professional development during years 3 through 7 of their associate track.  This training will be mandatory for all associates worldwide.  (WSJ Blog here.)  This obviously has very interesting implications for similar partnerships between law firms and law schools across the country.

Who benefits?  Possibly Milbank, if it can keep its mid-level associates around by providing them something of value, which may benefit them even if they leave the firm.  (The firm may also use it as a recruiting tool for entry-levels, as if this wasn't a buyer's market anyway.)  Milbank's clients may benefit from having counsel that brings more to the table.  Harvard probably gets a little cash and (most importantly to me) some cross-fertilization of ties with a firm doing cutting-edge legal work. 

A few questions.  Why not online?  One can learn accounting concepts and finance online.  These are busy people who are well-educated.  Surely if online education can work for anyone, it could work for them.  Possibly Harvard wouldn't get as much out of that, without actual contact.  Milbank may also treat the 8 days as a sort of retreat, which can have other benefits -- morale building, team building, etc.  (However, as a spouse whose mid-level associate husband went to intensive litigation training camp for a week once upon a time, leaving me with two tiny kids and the stomach flu, I have very few fond memories of such events.)  Why Harvard?  Sure, it can't be the lowest-cost provider, but I'm sure Milbank thought about branding, signalling, recruiting, etc.  And, of course, Harvard has strengths in all these areas, an existing executive law program, and a world-reknowned negotiation program.  Why not until Third Year?  Newbies have the lowest opportunity cost, the most free time, and the most inclination to go spend eight days in a hotel.  Why not have the junior associates obtain some skills as well?  Maybe Milbank wants associates to stick around awhile before investing in them.