Infographic

Between 2008 and 2012, the median debt burden for newly minted JDs increased by 54 percent, from $83,000 to $128,000. (That compares with a 22 percent increase in medical student debt.) It is the responsibility of every aspiring law student to understand the implications of taking on such a financial commitment. For law grads who have already accumulated the debt, there may be options for you to better manage repayment. Thanks to our friends at DRB, today’s infographic takes a look at law student debt, including the possible benefits of refinance or consolidation. Click here for more details.

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The legal market for new grads is still sadder than a Sarah McLachlan ASPCA commercial. Job opportunities are still few and far between, and median salaries are taking a hit.

If you wanted to see all that sadness in one super-convenient graphic, we have you covered. Stick this on the wall of your law school dorm room.

Hopefully at one of those law schools where more than 50 percent of graduates land jobs….

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For some law students, taking classes during the summer is the right choice. In this infographic, the folks at the UC Hastings Summer Legal Institute make their case for a summer spent studying in San Francisco. Registration for summer 2014 classes will open March 24, 2014, for current UC Hastings students, and April 1, 2014, for all other students. Applications will be accepted until May 7, 2014. Full program details are here….

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This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.

For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.

The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.

Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….

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ThanksgivingEd. note: This is the latest post in our series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes.

Elie here. My first “Black Friday” (that’s the Friday after Thanksgiving for those who reject consumerism in all of its forms) while working in Biglaw, I went into the office. My second Black Friday, I went to the therapist. I didn’t make it to my third one.

Thanksgiving is next week, and while you certainly shouldn’t have to work on Thursday, Friday is a different matter. So, we’ve put together this helpful decision matrix to figure out if you actually have to drag yourself into your Biglaw office on Friday… or if you can sleep off your turkey hangover surrounded by your family and/or the escort you paid to make your holiday feel less empty…

double red triangle arrows Continue reading “Biglaw Holiday Decision Tree: Do You Have To Work The Friday After Thanksgiving?”

Ed. note: This is the latest post in our series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes.

We know that law school applications are down, but how are the rest of the numbers looking for the class of 2016? Which schools experienced the most dramatic shrinkage in class size? How have LSAT scores and GPAs changed for the T14 vs. the T100? Which schools defied the downward spiral and actually experienced an increase in class size?

Check out our infographic, after the jump.

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As was vividly demonstrated by our recent infographic, Biglaw’s summer associate classes have undergone a major and seemingly permanent contraction. For the most part, large — arguably bloated — summer associate classes are a thing of the past. Among the Am Law 50, only eight firms are bucking this downward trend, with actual increases in the size of their summer classes since 2007. These firms are a collection of Wall Street’s oldest and most elite white shoe mainstays: Sullivan & Cromwell, Cravath, Davis Polk, and their ilk. On average, these firms were founded 112 years ago (i.e., during the McKinley Administration). The outlier here is the relative upstart litigation powerhouse Quinn Emanuel, founded only back in 1987.

Besides the durability and strength that comes with such a refined pedigree, what other trends are apparent in this great downsizing of Biglaw’s summer associate classes?

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We’ve talked before about the law school brain drain. Essentially, and despite the best efforts of some law professors, the students with the best “logical reasoning skills” as measured by the LSAT are avoiding law school at a higher rate than people at shallow end of the LSAT pool.

There are a couple of possible explanations. Sure, you could say that smarter people aren’t being fooled by the law school value proposition and are making wiser choices. But you could also say that people who test well will naturally have more non-law-school options as the economy recovers.

Still, the fact that law school looks like a bad option to more and more people with lots of options is something that should worry law school administrators — you know, if law school administrators worried about the long-term viability of the current system of legal education.

In Non-Sequiturs on Tuesday, we mentioned a new chart that illustrates this brain drain from a non-LSAT angle. I wasn’t here on Tuesday, so I wanted to highlight it and talk about it a little. Let’s look at whether students from top colleges are applying to law school…

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This is the first in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes.

In honor of Shark Week, we take a marine life-themed look at which law schools’ graduates are the big fish of Biglaw…
 
 

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Everyone knows lawyers make mad bank. That’s why you become a lawyer, right? Or, maybe they don’t always get super rich, but they usually do. Wait… lawyers used to always get super wealthy, but now not so much.

Dammit, now I’m all turned around. Point is, however much attorneys make in the U.S., how does it compare to lawyers across the rest of the world? Without further ado, check out our Infographic of the Day….

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