Taking the LSAT has apparently gone out of style. LSAC just released the numbers from the June 2014 LSAT, and only 21,802 law school hopefuls took the test. That’s down 9.1% from June of last year, and down 33.9% from the June LSAT’s peak in 2010. The last time so few took the June LSAT, Bill Clinton was president and Beyoncé was known primarily as a member of Destiny’s Child.
The continued decline in the number of LSAT takers is good news for aspiring lawyers as it’s likely that the number of law school applicants will similarly continue to decline. That, in turn, means less competition in law school admissions. Perhaps more importantly, there’s likely to be less competition for legal jobs in a few years, as that decline in law school applicants translates into fewer law school graduates.
It’s mid-July and summer associate programs are poppin’ at Biglaw firms across the country. While some summer associates are working themselves to the bone, others are taking advantage of their ability to be wined and dined by their firms. Sure, being an actual associate is more work than play, but why not have fun while you still can?
Today, we’ve got a very timely ranking of the large law firms where summer associates have the most fun, courtesy of Vault. If you were lucky enough to summer at one of these firms, we bet you had a blast.
[Shawn Carter aka Jay-Z] is one of the most prolific and hardest-working businessmen and recording artists in the world. This summer, among many other commitments, he is headlining a grueling 18-city North American concert tour with his wife, Beyoncé Knowles, between June 25 and August 6. With the tour opening fast approaching, the next four weeks are already filled beyond capacity with production and business meetings and rehearsals. Preparing for a stadium tour is a non-stop effort. And this is all in addition to Mr. Carter’s usual duties as the CEO of several businesses, at least two scheduled product launches, and curating a first-of-its-kind, bicoastal, music festival in August…. [S]cheduling an early deposition would unnecessarily burden and harass [Jay-Z].
Arato represents UMG Recordings, Island Def Jam Music Group, Roc-A-Fella Records, and Jay-Z in a suit filed by Dwayne Walker, who claims he’s owed $7 million in contractual royalties for the use of a logo he allegedly drew in 1995. Walker is represented by one of most infamous lawyers to ever grace these pages: Gregory Berry, he of the “superior legal mind.” In her letter, Arato claims that Berry has made “improper efforts to sensationalize” the case.
(Keep reading to see the full letter, which really hangs Greg Berry out to dry.)
Drake and Jay-Z look up to him. Music videos that reference him still get shown on MTV. Television talk-show hosts discuss his plans when he’s not a guest. Warren Buffett takes money from him, and Justin Bieber doesn’t act like an entitled spaz around him.
And he uses only $2 bills.
While your first guess is that we’re talking about the Dos Equis guy, we’re actually talking about a Biglaw partner in New York who adopted a unique calling card and translated it into becoming an under-the-radar celebrity among celebrities. He may not be the Most Interesting Man In the World, but he’s at least the Most Interesting Restructuring Attorney In the World…
Earlier this week, we mentioned the ridiculous argument from a University of Tennessee law professor, Lucy Jewel, that law degrees confer non-economic benefits like “cultural cachet,” which make a law degree valuable to people who risk financial ruin to get it.
Professor Jewel writes: “Every graduation, when I see the beaming smiles from my students’ family members, I do not think about the fact that they are getting a degree from a so-called fourth-tier toilet law school; I see people who have achieved a dream (albeit at great financial expense) and obtained a credential that signifies membership in a powerful profession.”
Guys… I just can’t. I can’t keep beating back every stupid argument that any law professor can come up with to defend the systemic price-gouging of American law students. I am just one man and they are many. I have never in my life confronted a group of educated people so eager to justify the precise manner in which they economically take advantage of students — kids, really — too stupid to know any better. At this point, if a law professor took candy from a baby she’d say she did it to help the kid save on dental bills.
You want talk about the non-economic benefits of going to law school? FINE! Let’s talk about the social and cultural “cachet” you’ll get, and see if it’s worth all the CASH you won’t ever be seeing again…
Summer associate class sizes might be shrinking, but for those law students lucky enough to make it into a summer program, life is good. The offers are being given outliberally, and the summer events are just as fun as ever.
Need proof? Just consider the six excellent events that we’ve selected for the finals of this year’s summer associate event contest. Some were cultural extravaganzas, others were athletic outings, but all were fun and fabulous. Thanks to everyone who submitted a nomination.
Vote below for your favorite. Without further ado, here they are:
If your response to someone cheating on you is to file a lawsuit, then you have something in common with the lawyer at the center of this story.
After learning that his fiancée was cheating on him, it was off to the courthouse to bring fraud and intentional infliction of emotional distress claims. A scorned lawyer runs back to the safety and security of a forum that makes him or her most comfortable, I suppose.
After reading the complaint, this guy might just want to cut his losses and consider himself lucky because his ex sounds kinda terrible….
Next Friday, barring last-minute action from Congress, the series of crippling automatic budget cuts known affectionately as “sequestration” will go into effect, immediately slicing 8.2 percent off non-defense spending for 2013. It’s the continuation of the so-called “fiscal cliff,” which was supposed to hit January 1st, but Congress moved this component to March because two potentially disastrous political showdowns are more fun than one.
If you haven’t heard about the sequestration, here’s a good primer, and you’re officially working too hard.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.