* If you hate the government and you hate lawyers more, then you’ll love this. In the past five years, the feds have awarded $3.3 billion to more than 4,700 vendors for legal work. [National Law Journal]
* A year and a half after he was nominated for a Federal Circuit judgeship, and more than a year after his hearing, the Senate finally decided to confirm Richard Taranto. How kind. [Blog of Legal Times]
* Pretty pretty please? Zvi Goffer and Michael Kimmelman would really really like it if the Second Circuit could overturn their insider trading convictions due to unfairness. [Thomson Reuters News & Insight]
* The U.S. News law school rankings are often criticized, and here’s why: if survey respondents “were asked about Princeton Law School, it would appear in the top 20. But it doesn’t exist.” [Chronicle of Higher Education]
* Nevermind the fact that law school applications are down, but Northwestern Law is doing the “responsible thing” and reducing the size of its incoming class — and raising tuition by 3% to boot. [Wall Street Journal]
* Jason Rapert, the Arkansas senator who passed a fetal-heartbeat abortion ban in his state, says he “has no time” for anyone who says it’s unconstitutional. To paraphrase, ain’t nobody got time for that. [New York Times]
Law school deans, are you ready for your report card?
The U.S. News law school rankings are due out in a couple of hours. But Above the Law sources have given us a sneak peek at the Top 25, this time in order. And not just from anonymous sources. Mike Spivey of the Spivey Consulting Group claims he’s laid eyes on the list, confirmed what our tipsters reported, and has been tweeting about the thing for the past few hours.
Every year, law school deans and professors tells us how the rankings are flawed, and every year, we find out that prospective law students care more about the U.S. News law school rankings than any other factor.
But this year, U.S. News claims it will be taking into account the employment figures of recent graduates nine months after graduation. Is that going to be a big substantive change, or have law schools already mastered the art of self-reporting their own employment outcomes in a way that hides the truth?
Let’s take a look. These notes will be UNOFFICIAL until U.S. News confirms the news with their midnight publication, but we’re confident this is the new top 25.
UPDATE(10:10 p.m.): U.S. News just confirmed our report by moving up their publication schedule. These rankings are now OFFICIAL….
The U.S. News 2014 Law School ranking should be leaked sometime this evening (check back in with Above the Law and we’ll post it when we get it) and will be officially released sometime tomorrow.
Each year the U.S. News list is met with criticism, primarily from schools that do not do well in the rankings. Usually law schools wait until the rankings are out before they start bitching and making excuses. But this year one law school started complaining about the rankings first thing Monday morning, before the official list is even published.
I guess they know something we don’t.
The criticisms would be a little more on point if this law school took a real reformist approach to legal education. Instead, they’re doing the same things everybody else is doing, only not quite as well…
We hope that you’re ready, because it’s almost the most wonderful time of the year for law schools. That’s right, the 2014 U.S. News law school rankings will be published next week, on March 12.
Law school deans are cowering in fear right now, because some of them may be ousted from their positions if their schools slip by even a few slots. Law students, on the other hand, are at the ready to lord their law school’s potentially new ranking over their friends’ heads on Facebook. As for incoming law students, all bets are off — they’ll either be happy their school maintained its place or rose in the rankings, or be devastated if their school of choice had a subpar performance.
The rankings, controversial as they are, are still a pretty huge deal to everyone in the legal profession. Just like in years past, the rankings will inevitably be published online in the wee hours of the morning on March 11, but because rankings guru Bob Morse knows that the anticipation is killing us, he likely instructed the staff at U.S. News to give his adoring public a little teaser.
Are you ready to take a look at the new, top 10 highest-ranking law schools in the nation?
Aside from the daily challenges associated with sustaining or exceeding gross revenue year after year, Biglaw partners are probably most worried about their firm’s brand. After all, a brand is something that will keep clients coming back, and usher in new and exciting business opportunities.
But with so many firms to choose from, it’s hard to pinpoint exactly which one is on top when it comes to being the most well-known of the bunch, regardless of what their Am Law or Vault 100 ranks might tell you. What matters most is obviously what the clients think.
Of course, there’s now a ranking to determine which firm has the strongest brand in the business….
For the past few years, the National Law Journal has been publishing a list of the best law schools to go to if you want to work in Biglaw after graduation. But through the lens of this annual report, we can see some of the changes that have happened in a profession that’s been in transition ever since the Great Recession. From layoffs to law firm collapses, Biglaw has faced many difficulties, and these challenges have been passed on to would-be associates when it comes to hiring.
Take, for example, the hiring scene in 2008, when the law school that earned the highest honors on the NLJ’s report could brag about sending 70.5 percent of its graduates to top law firms. Although we’ve started paving the road to recovery after several sluggish years, the employment picture for law students hasn’t rebounded to those levels.
Slowly but surely, it’s been getting better. In fact, this year, the future for law students seeking Biglaw jobs looks “marginally brighter.” But how much better? Let’s find out….
We’ve written before about the ridiculous National Jurist Best Law School Rankings. Many law bloggers have written about this list that looks like it was put together by getting the Sorting Hat drunk on goblets of fire water and forcing it to name law schools until it passed out.
We’ve all tried to reason with the National Jurist, but it turns out that effort was not unlike trying to convince an infant not to poop while you’re eating. We’d have been better off just ignoring it and cleaning it up later.
The publication came out with an “edit” yesterday, and while its revisions did a good job of highlighting how stupid these rankings were in the first place, I’m compelled to write about them just so nobody is fooled into thinking their “updates” have actually fixed anything….
He’s smiling because he has long forgotten that night at the printers.
Folks often overlook the value of a good 401k plan. But in Biglaw, a good 401k plan is essential because lost in the cocktail of a good salary, crippling debt, and 5-Hour-Energy-fueled document reviews is the fact that you need to start planning for retirement now. Look, there’s a couple ways this legal career is going to go: you can become rich and not even need to care, or more likely you’ll eventually end up as a permanent associate, government lawyer, low-level in-house functionary, academic, temp attorney, or worse, blogger.
The point is you need to set up your road to retirement while you’re still rolling in Benjamins and ordering Seamless at 3 a.m.
Thankfully, someone has gone to the trouble of ranking 401k plans offered by law firms. Without further ado, let’s see those rankings!
Well… I guess the further ado of clicking through to see the full story….
* In the wake of the Montana zombie scare, the Canadians have decided to begin preparing for a zombie invasion from the United States. I just hope zombies are vulnerable to hockey sticks. [The Faculty Lounge]
* Some savvy law students from Indiana looked at the job market and said, “Let’s brew beer instead!” And then they named the beer Black Acre. [The Indiana Lawyer]
* National Jurist is going to “correct” its rankings. But don’t worry, it’s going to keep the Rate My Professors score. That doesn’t bode well for Columbia Law. [Volokh Conspiracy]
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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 six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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