A new law school is finishing up its first year of operations. Unfortunately, there are 28 souls out there who don’t read Above the Law and ended up attending this new, unaccredited educational enterprise.
Of course, the new school had hoped to fleece educate 100 new students, not less than 30. The market might be a little more knowledgeable than the dean believed. In any event, the new dean of the new law school is stepping down. He’s not even staying on as a professor; he’s leaving to pursue “other employment opportunities.”
That makes sense. Being a dean of a new law school doesn’t look as bad on your résumé as being a graduate of a new law school….
Applying to an unranked law school ‘early decision’ is like playing musical chairs with one other person and three chairs.
Remember when you were applying to college how some schools had “early decision” programs? You’d apply to your first-choice school, and in exchange for them telling you early, you had to commit to go to that college and no other. As if applying to colleges was some kind of national game of musical chairs, and people who didn’t get a seat would end up being forced to pursue higher education in Mexico.
I didn’t apply to anywhere “early decision” because I value options and don’t scare easily. I applied to 11 colleges, got into ten (eff you, Stanford), and then visited four or five of them. Obviously, other kids did things differently. It’s not uncommon to see a lot of Ivy League caliber kids commit to a great school early in the process. People choose their colleges based on all kinds of factors, and when you know, you know.
Law schools are very different. Students usually go to the best law school they get into, unless a school that is slightly lower-ranked offers them a ton of money. The only places that should be running an “early decision” program that includes binding commitments are Harvard, Yale, and Stanford.
You could make a case for some other top-ranked programs doing early decision for law school. But when you see an unranked program getting in on the action, it feels like the school isn’t tempting students into “early” decisions so much as it is trying to rush people into “bad” decisions….
Does somebody have to die? Does somebody have to commit suicide? Does somebody have to leave a suicide note that reads, “I just couldn’t go on paying off the debts I incurred from going to this law school”? What is it going to take before somebody, some organization, some kind of regulatory authority steps in and prevents universities from opening up debt-generation shops under the guise of providing legal education?
There have been some recent successes in the fight to get people to think before they open a new law school. Plans to further saturate the legal market with expensive J.D.s have been tabled in North Texas and Delaware.
But this is a game of whack-a-mole that can’t be won without regulatory control. The Indiana Institute of Technology is going forward with its law school plan, because nobody will stop them….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: