BP Interns preparing to take over operations at Deepwater Horizon, April 19, 2010.
For the record, that was not the “royal ‘we’” in the title — here at Above the Law, we pay our interns. But a whole lot of folks don’t, because when no one else is hiring, companies can get away with offering to hire folks for the promise of experience and a cup of coffee (disclaimer: “Cup of Coffee” not provided).
Mercifully, law firms haven’t succumbed to the impulse to bring on interns for free. Oops, spoke too soon (fourth item).
But Judge William Pauley of the Southern District of New York delivered some big wins for unpaid interns yesterday…
With finals underway and graduation just a few weeks ahead, law students are left with only two things to bitch and moan about: their job/debt situations, and their commencement speakers. Law school graduation is supposed to be a day that will forever be etched in people’s memories; they don’t want to remember that they were seething with rage or slumping their shoulders in disappointment. They just want to be happy.
But apparently the lawyers of the future are incapable of that emotion. In the past, soon-to-be law grads have gotten so pissy about their law school’s selection of speaker that they’ve written open letters, donned protest buttons, and even organized commencement walkouts.
We’ve heard from several of our readers regarding their schools’ speaker picks, and students from a certain high-ranking law school (but not T14, at least in our own rankings) are REALLY unhappy….
Do you know the difference between a delicatessen and an appetizing shop?
No? Well, today’s stealth lawyer can tell you all about it. He’s a Georgetown Law grad who walked away from litigating to take over the family business, founded by his grandfather, and in the process kept a Lower East Side mainstay successfully rolling into the next generation….
Raise your hand if you like prestige. Alright, you can all put your hands down, because we’re about to drop some news on you about one of the most prestigious career paths available in the legal profession. Of course, we’re talking about federal clerkships, which are great opportunities to pursue if you’re lucky enough to be given the chance — not to mention the fact that if you happen to be clerking for a feeder judge, you might just have it made (the going rate for a SCOTUS clerkship bonus is $280K!!!).
In our coverage of career placement statistics from the most recent graduating law school class, we’ve tackled a wide range of career options, from professional couch-sitters to “elite” Biglaw associates. Today, we’re bringing you news on clerkships from the God of Rankings himself, Bob Morse of the U.S. News law school rankings.
So are you ready to see the law schools that had the highest percentages of graduates move on to become federal clerks? Let’s check out the list….
People love to complain that D.C. is a dysfunctional city. That may be a bit harsh. Despite the partisan gridlock, sometimes deals can be reached in Congress — for example, the new gun control compromise measure in the Senate.
And the city itself is a much more appealing city to live in these days. The recent, taxpayer-financed boom in D.C. has led to improved restaurants, nightlife, shopping, and residential options. (I used to live in D.C., from 2006 to 2008, and I continue to visit frequently.)
But the lawsuits coming out of the nation’s capital — well, they’re still pretty crazy. Time for some quick updates on the insanity….
We know that our readers simply cannot get enough of these employment rankings, so we decided to bring you some more. This time, we’ll be taking a look at the law schools that people dream of attending: the 14 most elite schools in the nation, more commonly known among the legal community as the T14. Everyone knows that graduates of these fine institutions are able to get jobs — in fact, many of these schools are able to boast “employed at graduation” rates of over 90 percent.
But some graduates from these hallowed halls experience the same problems as those of their brethren from the lower echelons of law schools. Not everyone has the luxury of being able to find full-time, long-term employment as lawyers, not even graduates from the best-ranked law schools in country.
Wouldn’t you like to see which top law school has the highest percentage of underemployed graduates? Give me your tired, your poor, your huddled T14ers….
Here at Above the Law, we try to pay attention to every sector of legal employment. We often find ourselves skewed rather heavily toward Biglaw, but as we all know, not everyone wants to work in Biglaw — including some of the people who are ensconced in high-paying Biglaw jobs themselves.
Imagine a place where you won’t be shackled to the billable hour. Imagine a place where you’ll get all government holidays off without having to worry about showing up just for the sake of appearances. Imagine a place where your clients are people, not corporate entities. If that seems nice to you, it’s because it is.
Today, we’re going to open the floodgates for the members of our audience, prospective law students in particular, who aspire to some day work in government and public interest jobs. Which law schools should you be considering if you’d like to have the best odds of reaching your goal?
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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