I previously wrote about the depressing prospects for graduates of all but the top ten or twenty law schools (“Two Law Grad Markets”). And yes, these were statistical generalizations, and the experience of specific individuals with particular skills and backgrounds will always be different, pro and con. But as an industry, if you care about our supply chain for talent, many law schools are burning platforms.
There are actually some closely connected problems driving this dynamic:
More JDs are being turned out each year than there are (a) full-time, (b) long-term jobs, (c) requiring bar passage, (d) at current salary levels;
perhaps the primary reason for the mismatch between supply of JDs and current demand for them (about two supplied for every one today’s market is demanding) is that clients increasingly resist paying for junior associates, which makes it uneconomic for firms to invest in traditional training;
but/and at the same time, every sentient observer is painfully aware that vast segments of the U.S. population — consumers and businesses alike — remain underserved by lawyers.
This would prompt any economist to ask, almost instinctively, “Why isn’t there a market-clearing price where supply and demand can meet?” Which is another way of asking, “What if there were a way to address both these problems at a single stroke?”
It’s almost mid-March, and you know what that means: broke law students are starting to freak out about the costs associated with their upcoming commencement ceremonies.
Most of them have already forked over six figures of government Monopoly money to their law schools, so why on earth are they so concerned about the cost of renting their caps and gowns for graduation?
To be honest, the loan money is starting to run out. While some schools have reasonable rental options (in the $50-$70 range), other schools are foisting very expensive graduation gear upon their graduates in some sort of a “gouge ‘em before they go” cash grab.
But how much is too much when it comes to one-day rental prices? Students at one top-tier law school have described what they’re expected to pay as jaw-droppingly “insane”…
Have you ever wondered how nerdy libertarian types get married? (No? Just us?) Depending on your jurisprudential leanings, you’ll be either moved, amused, or emotionally scarred by this wedding ceremony, which took place on the roof of the Cato Institute earlier this summer. Here’s the video. It gets a little weird when the groom whips out his pocket Constitution — he calls it “my Bible” — and vows to “faithfully execute the office of your husband.” (But keep watching for the bride’s vows, which are sweet and heartfelt.)
Another fun (non-lawyer) wedding write-up is this one, featuring the great-granddaughter of Maria and Captain Georg von Trapp, of The Sound of Music fame.
And now for our latest legal-eagle newlywed contestants:
A fair number of lawyers or law school graduates work in creative fields. Over the years, “recovering lawyers” have worked as writers, actors, and even painters (such as Henri Matisse and Wassily Kandinsky).
But you won’t find many lawyers who are rock stars — and I’m not talking about tax or securities law “rock stars,” but actual, literal rock stars. The free-association creativity needed to make music goes against the inside-the-box thinking prized in the legal profession. Music also involves math, and we all know that lawyers — even lawyers for the IRS — are “not good at math.”
There are, however, exceptions to every rule. A few folks with legal training have entered the music world — including Julio Iglesias, Rubén Blades, and today’s “stealth lawyer,” an attorney turned rock star….
As law students gear up for finals, it’s finally time for us to grade the videos we received for our Fifth Annual Law Revue Video Contest.
As usual, we’ll start with the dishonorable mentions. We like setting the bar low so that when you see our finalists later this week, you can see how far they rose above the rest. Our dishonorable mentions weren’t necessarily the worst videos that were submitted; instead, they were bad in a somewhat interesting and cringe-worthy way. Their badness lent itself to discussion and analysis.
Still, we want to thank everybody who took the time to produce and submit a video. Even the bad ones were good for the ATL editorial team and the community. The trauma brings us closer together….
This is the fourth in a series of posts looking at how law schools in specific markets stack up based on the results of our ATL Insider Survey. As we’ve often noted, very few law schools are truly national institutions. Typically, the majority of graduates don’t stray too far from their alma maters, so the strongest network will be local, for local jobs. It’s to your advantage to go to school where you want to practice, sometimes even more so than going to a higher-ranked school.
In recent weeks, we’ve looked at our survey results pertaining to Chicago, Boston, and New York-area law schools. We examined how current law students rate their schools in terms of academics, career counseling, financial aid advising, practical/clinical training, and social life.
Today, we turn to our broadest geographic region yet: the South (the Carolinas, Tennessee, Alabama, Mississippi, Georgia, Virginia, Florida, and Louisiana). Read on to see how schools in the region compare….
Sock-Puppets are a scourge of our time. How annoying does a person have to be create a fake, online persona specifically for the purpose of touting their own real life views?
We usually think of the most annoying commenter creating a fake persona, or “sock puppet,” to promote their “real” online persona. Occasionally, oversensitive journalists or bloggers will create an internet identity for the express purpose of pimping their articles on social media.
But today we’ve got a law professor who just got busted for creating a fake online handle to promote his scholarship. That the law professor is also a rabbi who got busted by “The Jewish Channel” just heightens the embarrassment….
Yet many professional athletes are speaking up—both to clear the way for any teammates who may be gay and closeted, and from an understandingof how even seemingly minor acts by professional athletes can reverberate with the public. Tolerance is becoming the message in locker rooms and from teams that recognize they cannot countenance use of pointless slurs like “faggot,” “queer,” and “gay.” Regardless the intent with which those terms are spoken, they classify a group and particular people as synonymous with the lesser, and professional athletes are beginning to understand that.
– Minnesota Vikings Punter Chris Kluwe and Baltimore Ravens Linebacker Brendon Ayanbadejo (congratulations on the Super Bowl) in an amicus curiae brief filed with the Supreme Court in Hollingsworth v. Perry, regarding the fate of California’s Proposition 8.
* Just because there was an undergrad rankings scandal at our school doesn’t mean that our law school data isn’t sound. ::pout:: Oh Emory, that’s so precious. [TaxProf Blog]
* Breast implants don’t make women healthier?! Damn you, Congress! [New York Magazine]
* Scamming insurance companies > scamming dying AIDS patients. [Dealbreaker]
* Scott Greenfield is running a book giveaway contest. Well, here’s my submission: The law doesn’t suck; it’s just the week before Labor Day, so writing about the law sucks. [Simple Justice; Legal Blog Watch]
* Given the number of men who ignore their girlfriends in favor of video games, it’s surprising that more women haven’t been charged with misdemeanor battery. [Legal Juice]
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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: