Last week, we asked for your thoughts on what an improved, more relevant approach to law school rankings would look like. This request was of course prompted by U.S. News’s revisions to its rankings methodology, which now applies different weights to different employment outcomes, giving full credit only to full-time jobs where “bar passage is required or a J.D. gives them an advantage.” U.S. News is of course bowing to the realities of the horrific legal job market and the spreading realization that, for many if not most, pursuing a J.D. makes little economic sense.
Yet U.S. News’s revamped methodology feels like a half-measure at best, as employment outcomes make up less than 20% of the rankings formula. Compare this to the 40% of the score based on “quality assessment” surveys of practicing lawyers, judges, and law school faculty and administrators. Shouldn’t those numbers be reversed?
In any event, last week about 500 of you weighed in with your opinions on which criteria should matter and which should not when it comes to ranking law schools. The results are after the jump….
The new U.S. News law school rankings, which we’ve been covering extensivelyin thesepages, contain all sorts of interesting tidbits about the ranked schools. For example, in each school profile there is an “employed at graduation” figure, which “represents the percentage of all graduates who had a full-time job lasting at least a year for which bar passage was required or a J.D. degree was an advantage.”
That seems like an important and useful piece of information to know if you’re going to pay or borrow a six-figure sum to attend law school. Comparing the employment rates of different schools would be an important part of one’s due diligence when selecting a school.
Among the top 14 or so-called “T14″ law schools, which one had the highest “employed at graduation” rate? The answer might surprise you….
Much credit has been given to the American Bar Association of late for its efforts to rein in law schools and their wily ways as far as employment statistics are concerned. Once upon a time, it was just fine for law schools to publish completely nonsensical data and herald it to the world as if it were true. Prospective (and extremely gullible) applicants were made to believe that it was possible for 98 percent of a class to be employed nine months after graduation during the height of the recession, and they applied in droves.
These days, now that word has gotten out that employment in the entry-level legal sector has run dry, law school applications are on pace to hit a 30-year low. You’d think that given the gravity of the situation — not to mention the ebb and flow of class action lawsuits having to do with job statistics — law schools do their best to comply with the ABA’s standards, but apparently even that’s too hard to do.
Perhaps the ABA’s reporting requirements are too tough in that they require not one, but Dear Lord, two charts to be published, along with consumer information that’s “complete, accurate, and not misleading.” That’s a pretty high bar to reach, amirite? Considering the state of the job market, providing accurate employment information about law schools must be really embarrassing rough for administrators to have to endure.
In fact, some law schools in the T14 can’t even bring themselves to adhere to these stringent requirements….
* Law School Transparency? Nay, Biglaw Transparency! Peter Kalis, global managing partner of K&L Gates, just opened the kimono wide on his firm’s financial performance in an “unusually detailed” fashion. [Wall Street Journal (sub. req.)]
* Talk about a pain in the pocketbook: although profits per partner and revenues are up overall, one firm saw shrinkage of 16 percent in PPP. [Thomson Reuters News & Insight]
* The ABA is just now thinking of trying to find someone who will audit the graduate employment data that law schools release each year. Gee, it only took 15 fraud lawsuits to get the ball rolling. [National Law Journal]
* Oh my God, you guys, carrying six figures of law school debt on your shoulders is “unsustainable” in the long run, especially when your salary sucks. This is new information that no one’s heard before. [News-Gazette]
* Former U.S. Attorney Jim Letten is now Tulane Law’s new assistant dean for experiential learning. For the school’s sake, hopefully he’ll be able to control his students better than he did his AUSAs. [Tulane Hullabaloo]
* “You’re a cold-blooded murderer and I’ll stare you down until I die.” Drew Peterson was sentenced to 38 years in prison for the murder of his third wife. A sequel to the Lifetime movie is likely forthcoming. [Reuters]
Back in December 2012, we broke the news that the dismissal of the Gomez-Jimenez case, a class action lawsuit over New York Law School’s allegedly deceptive post-graduate employment data, had been affirmed by New York’s Appellate Division, First Department. Although the opinion carried with it a wrist slap for NYLS and its business practices, Jesse Strauss, one of the lawyers for the nine plaintiffs, was unsatisfied, and vowed to appeal the case to the state’s highest court.
Well, it seems that the day of reckoning has finally arrived, because the members of Team Strauss/Anziska have filed a motion with the New York Court of Appeals to reinstate their clients’ claims….
* And here’s the depressing fact of the day (well, at least the morning): the legal services sector added just enough jobs from December 2011 to December 2012 to represent a .7% increase. Gah, not even a full percentage point! [WSJ Law Blog (sub. req.)]
* A federal judge who never worked at a law firm for a single day in her life stepped down from the S.D.N.Y. to join Zuckerman Spaeder. She only wanted to “try something new,” but she may be in for a little bit of a rude awakening. [DealBook / New York Times]
* Dewey know what the “fundamental problem” is with this failed firm’s partner contribution plan? When even the bankruptcy judge overseeing the case is confused, you know you’re in for a bumpy ride. [Am Law Daily]
* The suit against Albany Law over its allegedly misleading employment statistics was dismissed, but have faith, ye of little hope, because some cases are heading to discovery. [Thomson Reuters News & Insight]
* James Holmes, the man accused of murder in the Aurora movie theater massacre, will appear in court today for his first evidentiary hearing. Of course, none of that matters, because he’ll just say he was insane. [CNN]
* While Chief Justice of the United States John Roberts made a plea to keep funding for the federal judiciary intact, we learned that student loan default cases have fallen since 2011. You really gotta love that income-based repayment. [WSJ Law Blog (sub. req.)]
* Introducing the Asia 50, a list of the largest firms in the Asia-Pacific region. When it comes to the firms with the biggest footprints, only one American Biglaw shop made the cut. Go ahead and take a wild guess on which one it was. [Asian Lawyer]
* Congratulations are in order, because after almost a year of stalling, Arnold & Porter partner William Baer was finally confirmed by the Senate as the chief of the Department of Justice’s Antitrust Division. [Bloomberg]
* Our elected officials might not have allowed the country to fall off the fiscal cliff, but the American Invents Act was put on hold, so if you’re a patent nerd, you can still be mad about something. [National Law Journal]
* In the latest NYC subway shoving death, a woman was charged with second-degree murder as a hate crime, and allegedly bragged about other hate crimes she’s committed to police. Lovely. [New York Times]
* Next time you’re trapped on a plane that’s literally filled with other people’s crap for 11 hours, don’t bother suing over your hellish experience — you’re going to be preempted by federal law. [New York Law Journal]
* As an in-house compliance officer, there’s only one guarantee: you’ll be paid, and you’ll be paid quite well — we’re talking like six-figure salaries here. Regulatory corporate compliance, on the other hand, isn’t such a surefire thing. [WSJ Law Blog (sub. req.)]
* When it comes to employment data, this law dean claims that using full-time, long-term positions where bar passage is required as a standard to measure success in the employment market is “grossly misleading.” Uhh, come on, seriously? [Am Law Daily]
* “Bar passes and jobs are inextricably tied,” but eight of New York’s 15 law schools had lower bar passage rates than last year for the July exam. Guess which school came in dead last place. [New York Law Journal]
* Dominique Strauss-Kahn officially settled the sexual assault civil lawsuit that was filed against him by Nafissatou Diallo. Given that she thanked “everybody all over the world,” it was probably a nice payout. [CNN]
* Steven Keeva, a pioneer in work/life balance publications for lawyers, RIP. [ABA Journal]
[S]chools don’t have to go so far as to declare such specifics to the world as having a sheep farmer and a professional poker player in their graduating class to make some salubrious steps toward being a bit more forthcoming.
– Sarah Zearfoss, Michigan Law’s Senior Assistant Dean for Admissions, Financial Aid, and Career Planning, commenting on the need for increased transparency in the employment statistics law schools present to prospective students who peruse their websites.
Apparently, Chuck Klosterman believes law deans without checking to see what they’re hiding.
Man, the New York Times is just full of people defending law schools these days. First we had Lawrence Mitchell, Dean of Case Western Law School, write an op-ed about why he is “proud” to be a law dean. I’m not sure if he’s proud to have written an op-ed that has been savaged byeverybody, but there you go.
This weekend, the Times ran an Ethicist column by noted pop culturalist Chuck Klosterman about the “morality” of law schools enrolling students at hefty tuition prices when they know the job market is very challenging.
Klosterman defended law schools, though it’s not clear that he intended to. In fact, it’s not clear that Klosterman knows just how “unethical” law schools have become.
But hey, you don’t actually have to understand the challenges of legal employment to defend law school in the New York Times these days….
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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