Hipster plays in jazz band with Lawyer. They have the same academic advisor, and fall into a casual friendship.
Hipster has trouble in school. He plays drums and guitar, but struggles to maintain the grades. It’s nothing to do with behavior – everyone likes him. The academic advisor does his best, but after failing a few courses, Hipster’s expelled. He ends up bouncing from school to school, and manages to graduate, then heads to a halfway-decent state university known for partying. He spends most of his year there jamming with his buddies and soon drops out. They start a rock band, smoke dope, wear tie-dye, collect Grateful Dead tapes and call each other “dude.”
Lawyer thinks it’s a shame Hipster got kicked out of school. His own grades are A’s. He wins academic prizes, a scholarship to study in England, and advanced placement at Harvard, where he graduates magna cum laude. He heads to a first-tier law school, and places near the top of his class. An offer arrives from a white-shoe law firm.
Now is the season when law school applicants, having received their admission and rejection letters, need to make up their minds about where to attend law school (or if they want to go at all). We’ve received a number of inquiries from anxious 0Ls seeking advice about whether to matriculate at School X or School Y (which we might work into a post at some point, but which we don’t have the time to answer individually, for which we apologize). See also this post (asking whether you’d go to Notre Dame, for $X, or a lower-ranked school, for some number lower than $X).
In these discussions, the question of value looms large. We’ve previously mentioned lists of “best value” law schools in these pages, but some of these lists have methodological problems. And other lists — like the National Law Journal’s recent list of law schools that will get you into Biglaw on the cheap — while helpful, are too narrow in focus for some readers. Maybe you’re not looking for a Biglaw job, but you would like to attend a law school that is worth the price (i.e., a law school that can get you a job that will allow you to service the debt you incur).
Say hello to yet another set of law school rankings: U.S. News & World Report’s list of “10 Law Degrees With Most Financial Value at Graduation,” i.e., law schools whose graduates “have the highest first-year salaries relative to debt load.”
Did your school make the cut? Try to guess at some of the names you’ll see on the list, and then read on to see if you’re right….
I feel like there should be a student protest reality show.
Too often, people act like post-graduation unemployment is a malady that affects only students at lower-ranked law schools. People act like only lazy students at third-tier institutions — or “rank not published” institutions, if you prefer — end up desperate for work after three years of legal education.
But we know better. We know that the threat of unemployment is very real to all law school students. Sure, the higher-ranked schools might do a better job of getting their students jobs, at least in percentage terms; but even top schools have students who want to work but cannot find jobs.
Students at one top-ten law school are sick of suffering in silence. They want everybody, especially admitted students, to know that going to an elite law school doesn’t guarantee you a good job.
Given the state of the legal economy and the cost of law school tuition, it’s a wonder that this kind of thing doesn’t happen more often….
Alas, one student at Temple Law School didn’t get the “no begging” memo. She sent out a Facebook invitation to almost 800 people, requesting their attendance at an event entitled “HELP [REDACTED] RAISE MONEY FOR THE BAR EXAM IN JULY!!!!”
Yes, she’s asking her law school classmates — some of whom are probably just as cash-strapped and debt-burdened as she is — to just give her money.
Or pay her for one of her magic spells. Because she’s a witch, you see….
And now things get interesting. As we continue to run through the U.S. News 2012 law school rankings, we get to a crucial set of schools. The schools in this batch are certainly top tier, but they’re not “top 14″; for the most part, though, they charge like top 14 schools (especially the private ones).
So this is the batch of schools where we usually hear questions like: Should I go to this school at full price, or a much lower-ranked school for free? And our answer is usually, “How much lower-ranked are we talking about?”
The bottom line is that when people get into schools like Duke, or Penn, they are going to end up going to that school. But when people get into some of the schools on this list, they do seriously consider other options. Should I retake the LSAT, score better and apply again? How much financial aid am I getting? What’s the job market like in the [secondary market] this school is located in, just in case I get stuck there? Is it worth it to go into this much debt for a degree from that school?
These factors should come into play no matter which law school you get accepted to, but at this point on the U.S. News list, cost factors take on increased importance…
Numerous applicants to law school claim that they want to become lawyers in order to serve the public interest — and some of them are telling the truth. Alas, after burdening themselves with six figures of law school debt, they find it difficult to follow through on their public-interest dreams. The path of least resistance, or at least the path to the fastest repayment of loans, is working for a large law firm.
Working for a prominent law firm is great — lucrative, prestigious, honorable work — provided that it’s actually what you want to be doing (as opposed to, say, public interest work in Nepal). Unfortunately, many who toil in Biglaw do so primarily for the debt-dispelling powers of the paycheck.
On Wednesday we wrote about the great departure email sent out by Brian Emeott, a former corporate associate at Skadden in Chicago. Emeott, a 2004 graduate of Harvard College and 2008 graduate of Harvard Law School, picked up and moved to Kathmandu, Nepal.
Brian’s wife, Claudine Emeott, resigned from her own job in December and moved to Kathmandu in January. She’s in Nepal to advance a worthy cause: as a Kiva Fellow, Claudine is working with a local microfinance institution for three months.
In our original post, we applauded the Emeotts for their sense of adventure. You can follow them at their (excellent) blog, The Kathmanduo, as they “work, write, and photograph [their] way through beloved Nepal.”
Some of our commenters, however, were more skeptical. They wondered (and so did we): How are the Emeotts making this work, in financial terms? Are they trust fund babies?
Critics of the legal-education industrial complex would probably like to see some radical changes in the U.S. law school system. They’d probably want a few dozen law schools to shut down entirely, to reduce the glut of lawyers in this country. Barring that, they might want to see law schools reduce tuition dramatically — not just freeze tuition, which some schools are already doing, but make an outright cut in the sticker price of a J.D.
Alas, expecting such changes isn’t terribly realistic. Law school deans and law professors aren’t going to willingly reduce their salaries or send themselves into unemployment — and why should they? Despite all the warnings about the risk involved in taking on six figures of debt to acquire a law degree, demand for the product they’re selling, legal education, remains robust (even if it’s showing signs of abating).
Interestingly enough, however, we’re seeing some law schools cutting their production (of graduates, of J.D. degrees)….
It’s a sad state of affairs when a law school holding the line on tuition is breaking news. But with nearly every other law school rushing to bilk students who will pay anything for a legal education (law schools at Stanford, Arizona State, and Minnesota spring to mind), it’s nice to see at least a couple of schools that regard their students as something more than profit centers.
Maryland announced its tuition freeze in December. The National Law Journal reports that Miami recently announced it would be maintaining a tuition freeze already in place. Now UNH Law is joining their ranks. There’s still plenty of room on this bandwagon if your law school would like to take a brief break from molesting your financial future.
Not that UNH Law is cheap, especially for a third-tier law school. But this tuition freeze is another indication that UNH is at least trying to think about legal education in a somewhat realistic way…
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: email@example.com.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.