Scrooge McDuck must have attended the right law school.
Another day, another set of law school rankings. The world’s appetite for these things knows no bounds. Earlier this week, we covered U.S. News & World Report’s best law schools as ranked by law firm recruiters — and the reader interest and traffic were off the charts. Apparently there’s no such thing as “rankings fatigue.”
(Wait until we launch our list of law schools ranked by the quality of the toilet paper in their public restrooms. Because that’s something that actually matters to law students — probably more than, say, the number of volumes in the library, or even the square footage of the place.)
Today we bring you law school rankings by Forbes. The eye-catching title of Kurt Badenhausen’s post: “The Best Law Schools For Getting Rich.” Because you all went to law school in the hopes of becoming rich, right?
(If so, that was pretty dumb. According to some observers, a junior associate’s salary means you’re poor, and even a midlevel- to senior-associate salary doesn’t make you rich. Partner-level compensation is better, but even a million or two won’t get you access to the top slam pieces.)
Okay, let’s take a look at this list of law schools ranked by their graduates’ median compensation. Some of the schools on it may surprise you….
Ed. note: Gabe Acevedo will be covering LegalTech for Above the Law this year. If you are interested in communicating with someone from ATL about LegalTech coverage, please contact Gabe at email@example.com. Thanks.
It seems that judges are no longer afraid to unleash the power of the gavel when it comes to e-discovery violations.
Professor Chua seems to have it all: brains and beauty; an incredible academic career, with an endowed chair at Yale Law School; a hunky husband, fellow YLS prof Jed Rubenfeld; and two lovely and accomplished daughters. (Speaking of Chua’s kids, does anyone know where her oldest girl, Sophia Chua-Rubenfeld, is attending, or applying to attend, college? To Asian parents, sending a child to a top college is the ultimate vindication.)
But Amy Chua may need to work on her bitch-goddess qualities. After her controversial essay about the superiority of Chinese mothers and hard-ass Asian parenting set the blogosphere on fire — and sent her book rocketing to #5 on the Amazon bestseller list — Chua backtracked a bit, instead of defiantly standing her ground.
Late last night, Congress passed a compromise tax bill that will, among other things, cap the estate tax at 35% (with a $5 million exemption). If not for this compromise, the estate tax would have returned in 2011, at rates as high as 55 percent (with a $1 million exemption).
Hallelujah. Anytime you can save wealthy dead people millions of dollars during a time of crushing federal deficits, that’s something you just have to do. Way to go, Obama. When I voted for you in 2008, really I was just trying to vote for four more years of Bush’s ruinous fiscal policies.
Obama isn’t just saving money for all the dauphins eager to get their hands on their inheritances; he could be saving lives. Duke Law professor Richard Schmalbeck apparently thinks that rich old people might have killed themselves in droves over the next two weeks. Schmalbeck suggests that after spending a lifetime working hard and earning money, hundreds “or even a few thousand” of the aging rich might have committed suicide in the waning days of 2010, in order to pass on as much of their money to their children as they can before the estate tax returns in 2011.
I shudder to think that somebody would commodify their own life in such a way. But then again, I’m not rich. Maybe you only get rich in this country by being the kind of person who would gladly kill yourself if the price is right…
Last spring, Duke Law students had a fit because Duke undergrads were taking up valuable space in the law library. I admit, I enjoy having a little bit of fun with Duke Law students (haters gotta hate), but I’m with them on this one.
Undergraduates have two or three libraries (or maybe more, I don’t know if Duke is one of those schools where every major department has a library in its campus headquarters) where they can go play footsie and pretend to study. Or they can go to the business school library (the MBA kids are all at the bar “networking”) or the medical school library (the would-be doctors are busy being bought by drug companies or conducting unnecessary tests).
But at the law library people need to work. You can’t learn the law without spending a lot of time quietly reading the opinions of old white men (shut up “law firms,” nobody spends three years and $100K to learn practical lawyering skills). Those cases aren’t going to brief themselves! Law students need a quiet environment to think deeply and prepare for the eight hours of terrified regurgitation to come.
It looks like the administrators of Duke finally got the message…
You know what scares me? There’s a version of my career where I end up as the bizzaro version of Tucker Max. The “fat, black, and married” version of Tucker Max. The “other guy” who used douchebag behavior to get through elite institutions, just like Tucker Max.
It’s like, if I everything goes wrong for me but I end up with a book and a movie deal, I’ll be a Tucker Max clone. It’s not likely, but the mere possibility of it keeps me up at night. I’m a nice guy, really, I am. I’m not nice to, like, people or anything, but I have a good soul. I don’t want to be the black Tucker Max! And I’m not.
But then I read things like Max’s latest tweet, and I think “Dear God, is that what I could become?”…
As I was putting together last Friday’s post about the challenges faced by Duke Law School in recruiting minorities, I had this Gchat conversation with former ATL editor and Duke alum, Kashmir Hill (paraphrased and annotated in various places):
KASH: Good post. But one issue: there are actually a lot of black people living in Durham.
ELIE: Not to pull a Nifong but I don’t think I’ll get a lot of blowback by suggesting Durham isn’t a bastion of racial harmony.
KASH: Yes, there are tensions, but there are a lot of African-Americans who live in Durham.
ELIE: And it’s certainly not a ‘black city’ like Atlanta or anything.
KASH: Yes, but a lot of black people live there. I’d change it.
ELIE: You’re missing the point. The point is whether or not Durham is a welcoming place for blacks.
KASH: But you wrote that there “aren’t a lot of brothers in Durham,” and there are.
ELIE: For Christ’s sake, I’m not saying no black person has ever set foot in Durham. I’m saying that Durham isn’t a black city. Maybe it looks like a black city to white people who get freaked out when they see two brothers on a corner, but it’s not a black city.
KASH: Maybe it looks like a white city to people freaked out by cold, hard demographic statistics.
ELIE: [increasingly annoyed]: Look, NOBODY is going to give me s**t for a throwaway line that’s a segue from a Chris Rock joke to the larger point I’m trying to make. It’s one line in a 1500-word post. Come on.
KASH: [remembering/enjoying that she no longer has to work with me]: Just saying dude… lots of black people in Durham.
350-plus comments, numerous emails, and a boatload of tweets later, it appears that I was wrong. Dead wrong. Much to my surprise, people were very invested in the “but Durham has black friends” argument.
Fair enough. There are a lot of black people living in Durham, and I was wrong to suggest anything else. Next time I want to hang out with a bunch of black people, instead of going to Atlanta or Zimbabwe, I’ll go to Durham, North Carolina. Happy?
Now that I’ve accepted that Durham has a healthy population of African-Americans, can we get back to the discussion about whether or not black people actually want to live there? Because the people at Duke Law School seem to think that Durham is holding them back when it comes to minority recruitment, and I doubt that quoting demographic data is really what prospective minority law students are looking for…
Why? Well, that’s what Duke Law wants to find out. A tipster reports that Duke Law has been sending around a questionnaire to the few minority students currently at the school. It aims to figure out what recruiters should tell minority students thinking about matriculating at Duke Law.
You know what they say — there is no such thing as a stupid question…
If I reported that Duke Law School was turning to Craigslist to find its next dean, the U.S. News people would issue “revised” rankings to knock Duke out of the top tier. Heck, if I told you that Duke Law was looking for a new 1L contracts professor on Craigslist, at the very least that report would be met with widespread ridicule.
Of course, Duke would never grab a new dean off of Craigslist. Deans are in charge of making the law school money, and there’s no way Duke would rely on Craigslist, even in part, to fill that responsibility. And picking up a law professor off of Craigslist would make the school look intellectually weak, so there’s little chance of that ever happening either.
But when it comes to providing services that Duke Law students actually need — well, then Duke is just fine leaving the professional futures of its students in the hands of whomever Duke can find hanging out on the CL….
Law schools — as Elie likes to remind readers on a frequent basis — are businesses. Like any good CEO should, Duke Law School dean David Levi has written an editorial defending his product: young lawyers.
In the National Law Journal, he starts off by acknowledging that the legal market for young lawyers is in worse shape than Duke’s reputation after the lacrosse scandal, and that this is “understandable” given the laws of supply and demand. (A subtle acknowledgment of there being too many law schools?) He then writes:
What is not understandable is the surprising amount of criticism heaped upon younger lawyers, offered as if to justify placing a disproportionate share of the economic downturn on their shoulders.
The criticism comes from law firm managers, in-house counsel and former lawyers who now comment on the legal profession…
Ahem. *Uncomfortable pause.*
They most likely represent a minority view, but they are vocal. They say that clients are no longer willing to pay for the work of young associates because their work is “worthless.” We might expect clients to make any argument that could lead to a lower bill, particularly during an economic downturn. But it is wrong and surprising for experienced lawyers inside and outside of firms to acquiesce in, even reinforce, this line of argument.
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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