The official NALP numbers are out for the class of 2012, and they stink. We’ve known for a while that they were going to stink, but the final numbers stink slightly more than we thought they were going to stink.
While we had been hoping that entry-level hiring would be slightly up for the class of 2012 over the class of 2011, it’s actually slightly down. The overall employment rate for new law school graduates fell to 84.7%. It’s the fifth consecutive year that figure has fallen. The last time the numbers were this low was in the aftermath of the 1990-1991 recession. Things stink.
You don’t have to tell the class of 2012 that their hiring stinks; they’ve been living in it for over a year now. And you don’t have to tell the class of 2013 that their prospects aren’t much better; they’re out of school now, they know. Rising 3Ls in the class of 2014 might be deluding themselves that everything is going to be sunshine and roses for their class, but if they aren’t busy securing jobs this summer, they’ll learn what bitterness and failure taste like soon enough.
In fact, the only people who seem to need to be told that hiring is REALLY, REALLY BAD are American law schools, who continue to make statements and push programs as if getting a job in this market happens in a classroom instead of on a telephone or at a networking event…
This map, courtesy of Matt Leichter at the Law School Tuition Bubble, is a representation of the lawyer glut in America through the year 2011. Things may have changed slightly since then, but this is still a fairly accurate portrayal of the problem the legal profession is facing. If your state is in the red, then your chances of finding a job as a lawyer will be just as slim as your bank account balance.
Wait a second, almost the entire country is in the red. Congratulations, graduates, because it looks like you just walked straight into the Hunger Games of job searches. May the odds be ever in your favor.
So which states are the worst for law school graduates who are desperately in search of work?
“In four minutes, it would be another hour; a half hour after that was the ten-minute break. Lane Dean imagined himself running around on the break, waving his arms and shouting gibberish and holding ten cigarettes at once in his mouth, like a panpipe. Year after year, a face the same color as your desk. Lord Jesus. Coffee wasn’t allowed because of spills on the files, but on the break he’d have a big cup of coffee in each hand while he pictured himself running around the outside grounds, shouting. He knew what he’d really do on the break was sit facing the wall clock in the lounge and, despite prayers and effort, count the seconds tick off until he had to come back and do this again. And again and again and again.”
Yesterday, the New York Times ran a longish piece on just what in the hell was happening at the IRS office in Cincinnati. A Kafkaesque tale of bureaucratic intrigue, the treatment does little to tell us why in the hell we care just what in the hell was happening at the IRS office in Cincinnati. I’ll leave that determination to the qualified pundits and their punditry.
But what the Times article does do is shine a light on what it means to be a lawyer. What it means to others and what it means to us. Completely by accident, the mess at the IRS tells us how important lawyers are. And how impotent we are. This makes little sense even as I type it. But bear with me. Please. It is not often that meaning comes so nicely gift-wrapped.
I suppose that’s a rhetorical question. When you live in a nation that’s been reduced to an army of mindless reality-TV-watching drones, it’s not exactly surprising that the average citizen is more inclined to trust a television judge than a jurist who’s been appointed to the highest court in the land.
We care more about the matching camouflage wedding couture Honey Boo Boo’s parents, Mama June and Sugar Bear, wore when they tied the knot this past weekend than the next round of controversial decisions that will be soon be handed down by the Supreme Court. We care more about the Kimye baby bump than the very existence of the Supreme Court, much less the names of the justices sitting on its esteemed bench.
No one who’s been paying any attention is taken aback by the fact that Americans care more about the people they see on television on a daily basis than names they once read in a textbook. That’s why the results of the latest Reader’s Digest Trust Poll as to this country’s judges are expected, and sad, and not at all surprising….
New Rule: The next law school person who wants to bitch about the unfairness of the “employed nine months after graduation” metric must offer to make loan payments for all students who don’t have a job at nine months until they find one. If law schools are going to knock up their recent graduates they should at least have to throw in some child support.
Oh, wait, NO law school dean wants to actually be on the hook for student loans from when they come due six months after graduation until… whenever this unnamed point in the future comes when students can expect to have jobs. Given that, I don’t really want to hear about how your school is so freaking “unfairly” treated because CONSUMERS of legal education need to know if they will be employed within shouting distance of when they will start having to pay back their loans.
Fine, you want a compromise? It looks like we’re moving to ten months anyway…
I am supposed to be paying something on the order of $2,500 a month in student loan repayments. I currently make a shade over $55,000 a year which, after taxes, comes out to a tick under $3,200 a month. Please don’t mistake me for a braggart, dear reader, as I am a man much like yourself. I get up every morning and slip my cheap suit on one pant leg at a time. Just like you! It’s just that, after my threadbare suit is hanging from my gaunt frame, I have dozens of dollars to my name. Dozens.
If you are reading this website, you are well-acquainted with the state of student debt in this country. Above The Law, once a bastion for bottles, models, bonuses, and benefits, covers the hangover now too. The hangover is a useful start for any consideration of debt in this country, as it turns out. Shot through with the morality that only the descendants of Puritans can muster, debt in this country is treated not unlike a sexually transmitted disease or pleated pants: it’s moral turpitude that led you here.
Remember kids, banks will never ever ever forget your student loans. They may forgive them, though. As if they’re handing out papal dispensations from on high, banks are passing moral judgment even when your duties as a debtor may be discharged.
This is the moral universe we currently reside in. And it’s one that has seriously warped consequences.
Hello again from the 2013 annual education conference of the Association for Legal Career Professionals (aka NALP). People here are very friendly — although, as noted earlier, the law firm folks tend to be more welcoming to us than the law school crew.
That’s to be expected, given our sometimes critical coverage of law schools. We seek to promote consumer awareness when it comes to legal education, but some schools — especially those schools with weaker job outcomes for their graduates — perceive this as an attack.
Yesterday I attended a NALP panel discussion about law school transparency. In the course of discussing what we talk about when we talk about transparency, the panelists provided five defenses that law schools can use when faced with criticism over unemployed or underemployed graduates….
I’m not reviewing the book, but instead using it as a jumping-off point to discuss a tangent. Harper explains in his book two things that every sentient lawyer has noticed over the past several years: (1) students are graduating from law school buried under a mountain of debt, and many of those students can’t find jobs, and (2) many law firms have lost sight of the law’s noble history as a learned profession and are now obsessed with maximizing their profits per partner in the coming year.
Harper’s right about these things, of course, and this isn’t exactly late-breaking news to anyone who’s been following either Above the Law or Harper’s blog, The Belly of the Beast, for the last few years. Harper’s book advances the discussion, however, by exploring these issues in more detail than others have. He also proposes possible solutions to these problems, including “allowing the federal government to recover [law school loan] guarantees from a law school (and its university) whenever a student loan became the principal contributor to an alumnus’s later bankruptcy.” (Page 159.) Or encouraging law firms to release their “Working Culture Index,” which would show the percentage of lawyers billing more than 2000, 2100, 2200, 2300, 2400, and 2500 in the previous year (perhaps with separate totals being released for partners and associates). (Page 173.)
These ideas are well worth discussing, and I’m glad that Harper has taken the time to analyze these things. But I have another topic to highlight, which is an odd tangent to Harper’s two issues . . . .
The job scene for entry-level attorneys is rough. As we’ve discussed, only 56 percent of the class of 2012 were employed in full-time, long-term positions where bar passage was required. If you strip out school-funded jobs, that employment figure slips back down to where the class of 2011 was, with just 55 percent of them employed as real attorneys.
Recent law graduates are understandably pissed off. They want to put their law degrees to good use, but the constricted job market is forcing them to apply for positions as baristas. They are seething with rage, and they can’t even contain it anymore.
What you’re about to see is the byproduct of what we presume to be a few months’ worth of a failed job search. This disgruntled job seeker took a corporate job advertisement for entry-level attorneys and red-lined the hell out of it — after all, this legal department is looking for red-liners.
Do you think this person should get the job? Check out his stunningly accurate work….
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
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For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
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