Ed note: This is the latest installment in a series of posts from the ATL Career Center’s team of expert contributors. Today, Blueprint Test Preparation offers pre-law students some insight on how LSAC recalculates GPAs.
The LSAT is a stressful time in any pre-law student’s life. You spend months prepping for a four-hour exam that will determine your future — the schools to which you’ll be admitted, the amount of scholarship money you’ll receive, the salary you can expect upon graduation, and the attractiveness quotient of the spouse with whom you’re likely to mate. What could be more harrowing than that?
We’re familiar with the fact that the number of law school applicants is down. Indeed, quite a bit of metaphorical ink has been spilled on analyzing the ramifications of this trend on law school applications. For instance, the WSJ Law Blog recently ran a story analyzing the LSAT scores at top law schools. Somewhat surprisingly, the numbers were fairly consistent with previous years, despite fewer applicants. Above The Law followed up with the analysis of a few additional schools, though all were still T14 (with the exception of ATL’s favorite whipping boy, Cooley). And, of course, we here at Blueprint analyzed these changes and discussed how to use them to your advantage.
So the implications of the decrease in law school applicants have been fairly well documented for top law schools. However, only a small minority of law students will be applying to them, and an even smaller amount attending. This begs the question: What’s going on further down the law school chain?
And like any business that suddenly finds itself with fewer customers, law schools are looking to entice new students to apply. Because — and it’s always important to remember this — law schools are businesses, at least as much as they are academic institutions.
Will they take a hint from used car salesmen, setting up whacky, inflatable, arm-flailing tube men to draw the eye of passing motorists?
Or possibly Red Lobster, offering shrimp AND lobster with any J.D.?
Or, more likely, will they try to improve their job numbers while offering larger scholarships?
Today, the ATL Career Center launches its latest feature: a Pre-Law section, featuring ratings, inside info, and expert advice on law schools, LSAT prep, and the application process. Check it out here.
While law school applications continue to decline and legal jobs are scarce, the business of discouraging people from going to law school is positively booming. There is a mountain of data which would seemingly dissuade anyone from taking on massive debt only to then leap into the clogged toilet of this job market. (And yet, see this compelling analysis that now is actually a great time to apply to law school, especially for lower scoring applicants.)
But what about future law students — are the 0Ls getting these gloomy memos? And how is it shaping their choices?
Recently, in collaboration with our friends at Blueprint Test Prep, we conducted a survey of BluePrint’s summer students studying for the October 2012 LSAT. We had nearly 600 respondents. Our goal was to get a snapshot of these 0Ls’ perception of the legal landscape, including the realities of financing a law school education and the current state of the legal job market.
After the jump, see some of what we could glean from the 0L mind, including a striking disconnect between the “job market” and a “career path”….
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: