A couple of months back, Jordan Weissmann of Slate and our own Joe Patrice got into an entertaining little dust-up over Weissmann’s assertion that “Now Is A Great Time To Apply To Law School.” The various arguments ranged over — among other things — the available data from the ABA and the BLS, the scholarship of Michael Simkovic and Brian Tamanaha, and the impenetrable mystery that is the “JD Advantage.” We’ll let readers determine who got the best of the debate. (Hint: Joe did.) But as pundits squabble over the value of a JD or the wisdom of the applying to law school in 2014, what are current would-be law students themselves thinking?
Recently, in collaboration with our friends at Blueprint Test Prep, we conducted a survey of 400 Blueprint students studying for the October 2014 LSAT. (We conducted an earlier, different 0L survey in conjunction with Blueprint back in 2012.) Our goal was to get a snapshot of these 0L’s perceptions of the legal education landscape: will it be harder or easier to get admitted? What are the most important factors in choosing a law school? What are law school admission officers looking for? What are employers really interested in?
Read on to see what we could glean from the 0L mind, including their thoughts on why fewer people are taking the LSAT and applying to law school, even as some — à la Weissmann — predict the demand for lawyers will outstrip supply the supply of law school graduates in 2016.
Of course I took an interest in Jordan Weissmann’s Slatearticles saying that now could be the best time to go to law school. He argues that because of the continuing drop in law school applicants and the supposed increase or stabilization in law school recruiting, future graduates have a good chance of getting entry-level positions in law firms or those “corporate positions of distinction.” Despite this, Weissmann warns readers that “most people should not attend law school,” and that “some lower-ranked schools will continue to deliver miserable job prospects for their students.”
But Weissmann’s articles — as well as Elie Mystal’s and Joe Patrice’s excellentresponses to them — did not adequately address one question that was important to me: How seriously do employers consider experienced attorneys for entry-level legal positions?
Click onwards to read about my personal experience applying to one of these entry-level positions, and my thoughts about the advantages and disadvantages of hiring a newbie versus a veteran….
If your Facebook news feed is anything like mine, by now you’ve probably seen the Slate article encouraging people to “Apply to law school now!”, as well as Joe’s biting reply. The beef has gone back and forth. I’m not going to debate the job numbers; that’s been handled more than ably, and those who are willing to make an honest assessment of the job market already have.
Instead I am going to focus on the human cost of losing the law school lottery….
Elie here. Everybody wants a deal. Everybody wants to “beat the market,” and the internet makes us think that we can. If a baby with an e-Trade app can make money, why can’t you? Buy low, sell high: I’m sure I read that on a bumper sticker somewhere, or maybe in the New Yorker.
Increasingly, the internet thinks it’s identified just the right undervalued asset to snap up at a discount: legal education. The decline in law school applications has been sharp and truly shocking to some. It doesn’t make sense that a law degree would suddenly be much less valuable now than it was 5 or 10 or 20 years ago. The value should rebound. The world still needs lawyers. And if you haven’t noticed, or just disregarded, long-term structural changes in the market for legal services, the fact that every law dean will tell you that the market rebound is right around the corner gives you more confidence in your logical assessment. It’s not like every law dean in the country would lie about the value of their product, right?
We can and will continue to debate the likely future value of a legal education. But can we dispense with the notion that purchasing full-price legal education right now involves “buying low”? You are not buying low, you are buying at historically unprecedented heights. Nobody would put “Buy high, hope to sell at fair market price in three years” on a bumper sticker.
And nobody should be putting that on the internet either….
* As I noted yesterday over at Redline, the defense in the NCAA trial is putting up some terrible witnesses. Here’s another example. The NCAA’s expert wrote a textbook. The NCAA might have wanted to check it out before bringing him on to help defend themselves IN AN ANTITRUST CASE. [Twitter / Stewart Mandel]
* Hong Kong lawyers protesting what they see as China meddling. Honestly can you blame China? Ever since Hong Kong let Batman just swoop in and grab that guy, you can’t really trust the Hong Kong legal system. [Reuters]
Many of you have by now seen the Slate article by Jordan Weissmann published yesterday afternoon entitled Apply to Law School Now! Indeed, many readers sent this particular piece along to us through our tips line, deeply concerned. Indeed, one tip came with the message: “Waiting for Elie’s head to explode in 3, 2, 1…”
Well, we’re here to make a confession. Slate sent us a draft copy of this article to edit and darned if we forgot to email over the redlined copy. This piece is therefore totally on us, guys. Don’t blame Slate.
In the interest of rebuilding Slate’s reputation, we’ve attached our redline so we can see how the article would have read with proper editing….
This map, courtesy of Matt Leichter at the Law School Tuition Bubble, is a representation of the lawyer glut in America through the year 2011. Things may have changed slightly since then, but this is still a fairly accurate portrayal of the problem the legal profession is facing. If your state is in the red, then your chances of finding a job as a lawyer will be just as slim as your bank account balance.
Wait a second, almost the entire country is in the red. Congratulations, graduates, because it looks like you just walked straight into the Hunger Games of job searches. May the odds be ever in your favor.
So which states are the worst for law school graduates who are desperately in search of work?
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: