Despite rumors of impendinglayoffs, many people thought that 2012 would be the year that Biglaw would make its comeback after being dragged through the wringer of the recession. You’d think that Biglaw’s “solid performance” last year would’ve served as an indicator of its hiring needs, but as with most predictions having to do with Biglaw, you’d be wrong.
The numbers are in for the fall 2012 summer associate recruiting season, and they’re nothing to write home about. In fact, according to the latest National Association for Law Placement (NALP) report, the median and average numbers of summer offers made to 2Ls took a tumble.
In an uncertain economy, this depressing kind of recruitment activity may be the new normal for Biglaw….
But employers who are trying to take advantage of the desperation in the recent graduate market are real jerks. Trying to get desperate recent grads to work for free (or to actually pay you to work) isn’t taking advantage of a market opportunity, it’s taking advantage of people.
We’ve seen a lot of employers offering to “hire” people for free, but rarely with the kind of pompous overtones of the Craigslist ad below. It’s one of those ads that boasts about a lot of things in ALL CAPS, except for when it comes to paying people….
Today’s story about a law student bound for prison has me thinking about how regular people become criminals. The story of Marc Gersen is the kind of thing books are made of; it’s big and bold and colorful.
But on the smaller scale, people are pushed into unethical decisions all the time, and it rarely comes with the stark choices of, “Should I, or should I NOT, start a meth ring?” People, especially the kind of risk-averse people who end up in law school, don’t make one big decision to “become a criminal.” It’s a bunch of little decisions that incrementally take you from “normal, law-abiding citizen” to “bad actor.”
Today, we got an email from a person who is thinking about making an unethical choice out of desperation for a job. Why don’t you read her dilemma for yourself and tell her what you think she should do….
I don’t know about everyone else, but when I was in law school, I would sometimes feel like a little kid again. And to answer your first question, no, it’s not because of the low level of education I received at my TTT. Instead, I was reminded of my childhood, when I used to play sports in the backyard. I imagined that the game was in its final seconds, and I would win it all by making that big final play. But as childhood fades, so too does some of the fun of life.
What’s the proof of this? What once was a childish fantasy became a legal fantasy when I became an adult. That’s right, in law school, I would sometimes daydream about being a big-shot attorney, with a huge, O.J.-sized case. I would spout off some legal jargon to the amazement of the jurors in my closing, and then they would come back after only a few minutes, giving my client the “win,” and making me very, very wealthy at the same time.
Just like my dreams of athletic glory, this dream now seems far-fetched. The résumés and cover letters continue to rack up in my sent mail box, but nothing except spam, CLE event notifications, Groupon ads, and messages from ugly girls on Match.com fill my inbox. Things have become so bad that I would even welcome a simple acknowledgement that my application was received….
Industry observers can debate why applications are down. But I think it’s really as simple as what I’m about to show you. People go to law school so they can get jobs and have nice lives. They don’t go to law school for love of abstract learning. They don’t go to law school because of anything that happens in the third year of law school. They go for jobs.
And when there are no jobs, when experienced attorneys are making Craigslist postings like this one I’m about to show you, it makes people think, “Why in the hell would I go to law school right now?”
Let’s take a look at the saddest single dad with a J.D. on Craigslist….
These are not outliers. They’re not anomalies. It is something that’s happening quietly in many, many firms in the industry.
– Zeughauser Group consultant Kent Zimmermann, commenting on the stealth layoffs that have been going on at Biglaw firms around the country. In fact, according to his sources — all managing partners — at least three major firms will soon be conducting another round of layoffs.
It’s about that time of year again. No, I’m not talking about when ESPN tells you what Ray Lewis and his teammates ate for breakfast along with every other remotely interesting detail of the other Super Bowl players’ lives. Instead, I’m talking about the time that law schools start to really get anal retentive about getting their graduate employment forms back.
I bet some of you readers have already received a couple of emails from your alma mater, each increasingly desperate and frantic as the head of career services threatens to pull his hair out unless you respond. This may seem like a good or even noble task for the school to perform, but let’s take a closer look at what’s really going on….
Anyone who’s been following the implosion of the law school bubble is well aware of the fact that many recent graduates have been left floundering when it comes to employment prospects. And given the vast media coverage of the legal academy’s existential crisis, everyone and their mother knows that entry-level law jobs are few and far between. People are hungry for experience, but they’ve quickly come to the conclusion that it’s a real seller’s market out there. In today’s economy, it’s kill, be killed, or work in retail with a law degree (a fate which, for some, may be worse than even death).
As expected, some employers have chosen to take advantage of this situation. Take, for example, the “excellent position” we covered last summer, after a number of tipsters emailed us to express their outrage. The job was touted as providing “valuable experience,” and even though it had a sad little yearly salary of $10,000, some 32 people applied.
In the wonderful world of legal one-uppance, it was only a matter of time before someone came up with an even more audacious employment scheme. Would you be willing to pay someone for legal experience? Because that’s what this Connecticut law firm expects you to do.
Leave it to a lawyer to come up with a way to turn this dearth of job opportunities into a revenue stream….
In Professor Paul Campos’s new book, Don’t Go To Law School (Unless) (affiliate link) — a book I’d recommend to anyone thinking seriously about law school — he shares an email from an individual who, after much research and thought, decides to enroll in law school. The email sheds some light on why people continue to sign up for law school despite all the warnings (from folks like Professor Campos, my colleague Elie Mystal, and many others). The law student writes:
[Prospective law students] think: debt doesn’t matter. There is no penalty for defaulting on the debt, except the relinquishment of the privileges of an advanced financial life. . . Students evaluating the horrible deal in question believe they have no access anyway to those privileges (e.g. a retirement account, a home purchase, a start-up business). For the student in question, all law school has to do is provide some potential benefit, and it becomes a rational choice.
After acknowledging that “[t]here’s a lot of force in this line of argument,” Professor Campos tries to refute it, basically arguing that many who go to law school based on such reasoning are “making a difficult situation worse.” But maybe the argument is not so easily refuted.
After all, what else are you going to do with yourself? Before you criticize law schools and those who matriculate at them, please familiarize yourself with the grim economic realities of twenty-first century America….
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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