Before taking on the massive commitment and expense of a law school education, prospective students need to do some serious homework. But let’s face it: not everyone will. The prospect of analyzing the available data is sufficiently great that many won’t bother.
In spite of concerns that rankings “facilitate laziness” or “pervert incentives,” we can agree that rankings aren’t going to disappear any time soon. People will still demand guidance, preferably in the form of easy-to-understand lists. For our part, ATL will continue to produce our own version of law school rankings. (We are releasing the 2014 rankings next Tuesday. You can register to see a live broadcast here.)
Last week we surveyed our readers for their views on what would be the most relevant elements of a law school rankings methodology. What did the readers have to say?
This probably isn’t a surprise, but the market still sucks for newly minted lawyers. The ABA has published the employment data it gathered from affiliated law schools, and the best way to spin this is as a “modest uptick.”
So if you’re a 0L super psyched about going to a subpar law school, this is cold, hard data that should terrify you. Terrify you even more than the indebtedness stats. Except you’re not going to be deterred, because you think you’re the exception. Like the high school girl convinced that Jimmy isn’t going to cheat on her like he did his last five girlfriends. Good luck, kid.
For the rest of us, let’s take the temperature of the legal market while we await the law school press releases telling us it’s not so bad.
And, hey, it looks like there may be one tiny ray of hope in these numbers. Don’t worry, I did say “tiny”…
Duke: national champions when it comes to law school softball.
* According to the Bureau of Labor Statistics, the legal sector added 2,300 jobs in 2014. Our sincere condolences go out to all those who are still “too overqualified but too under-experienced,” all at the same time, to get hired. [Am Law Daily]
* This lawyer protested jury duty by emailing the judge to say she’d “blame the plaintiff” for making her work nights and weekends for her client, but she can only blame herself for having to spend the night in jail. Oopsie! [Daily Report (reg. req.)]
* “Would it be great if all unpaid internships paid really well? Sure. It would also be great if my dog made breakfast for me every morning, but I am not going to file a lawsuit over it.” Yep. [Los Angeles Times]
* The law school transparency movement has come quite far since its inception, but there’s a lot of room for improvement. Encourage your school to hurry up and “publish what it has at its fingertips.” [Law.com]
* UVA Law held its Softball Invitational this weekend. A Duke Law dude emailed us to say his school sucks at basketball, but it’s awesome at law school softball. Sweet accomplishment, brah. [Newsplex]
* Scared of an audit, were we? With the unsealing of the case against Dewey’s former finance director comes greater insight into what was really going on behind the scenes at the failed firm. [DealBook / New York Times]
* The American Bar Association is willing pay up to $15,000 to organizations that match unemployed law grads with jobs to serve the legal needs of the poor. So, how much do the poor law grads get paid? [National Law Journal]
* Tenure may be “under fire,” but law professors are fighting back — and hard — because law school deans seem unwilling to speak up on their behalf. Let’s face facts though, tenure isn’t going anywhere. [Forbes]
* It figures one of the faces of America’s $1 trillion of outstanding student loan debt is a lawyer. Hey, heavily indebted lawyers make great headlines and even better first paragraphs. [Big Story / Associated Press]
* Jordan Graham, the newlywed who pushed her husband of eight days off a cliff, was sentenced to serve 30 years in prison. Protip: an annulment would’ve been a better option than second-degree murder. [CNN]
* The shaming of Professor Rene Reich-Graefe continues, with Steven Harper weighing in. Law professors… so many people are onto your game of creating rosy scenarios to dupe prospective law students. Maybe you could spend more time trying to fix the problem in legal education, and a little less time trying to hide it? [Belly of the Beast]
* Demand is down, but fees are up. The good news is that Am Law Second Hundred firms saw gains in billable hours purchased by corporate clients — and that’s about it for the good news. [Am Law Daily]
* OMG, Dewey want to see the unsealed case records against D&L’s ex-leaders. DA Cy Vance wants our prying eyes to see all but one document. Secret seven identities… incoming! [Bloomberg]
* It looks like that time Sheryl Sandberg refused to lean in is really paying off in court. Facebook is a witness, not a defendant, in an antitrust case about non-poaching agreements between tech giants. [Reuters]
* Gaming the rankings for dummies? Law school deans are now pushing the ABA to require that law schools post their transfer students’ LSAT and GPA credentials. [Capital Business / Washington Post]
* The easy way to decide whether you should be working in law school is to determine what you like more: money or grades. One will help you get the other later in life. [Law Admissions Lowdown / U.S. News]
* Justice Elena Kagan is looking forward to hunting a new kind of game next year with Justice Antonin Scalia. Gobble gobble, bitches. They’re going after wild turkeys, and not the whiskey. [Legal Times]
* If you’ve been wondering why Morrison & Foerster is referred to as MoFo, the backstory isn’t as cool as we were led to believe. It was the firm’s teletype address. [Capital Business / Washington Post]
* Don’t worry, law profs, your precious tenure protections aren’t going anywhere yet. The ABA has officially given up on its quest to remove tenure as an accreditation requirement. [National Law Journal]
* If you’ve been waitlisted, send a letter of continuing interest. Convince them you’ll be employed within 10 months of graduation, and watch the acceptance letters roll on in. [Law Admissions Lowdown / U.S. News]
Earlier this week, Carolyn Elefant questioned the value of joining bar associations. Particularly their value in generating business for solo and small firm practitioners. Elefant found bar associations lacking in regards to business development, and generally seemed sour on participation in bar associations for smaller firms. Though she did note a few exceptions:
“I’m not suggesting that solos and smalls steer clear of bar membership entirely; after all, bar associations provide a myriad of practice benefits including substantive information on practice trends, affordable continuing legal education (CLE), and advice on starting and running a law practice.”
While I’m inclined to agree with Elefant regarding the operation of small firms most of the time, in this instance, I have to disagree….
Conventional wisdom says that solos and smalls should join a bar association — either the American Bar Association, a state or local bar, or a practice-specific bar (such as an association of telecommunications or criminal defense or real estate lawyers) — as a way to generate clients. Here’s but one recent article that recommends pounding the pavement at bar events to find clients.
I’m not suggesting that solos and smalls steer clear of bar membership entirely; after all, bar associations provide a myriad of practice benefits, including substantive information on practice trends, affordable continuing legal education (CLE), and advice on starting and running a law practice. But if lawyers think that they’ll find business through bar membership, most are sure to be disappointed….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: