This probably isn’t a surprise, but the market still sucks for newly minted lawyers. The ABA has published the employment data it gathered from affiliated law schools, and the best way to spin this is as a “modest uptick.”
So if you’re a 0L super psyched about going to a subpar law school, this is cold, hard data that should terrify you. Terrify you even more than the indebtedness stats. Except you’re not going to be deterred, because you think you’re the exception. Like the high school girl convinced that Jimmy isn’t going to cheat on her like he did his last five girlfriends. Good luck, kid.
For the rest of us, let’s take the temperature of the legal market while we await the law school press releases telling us it’s not so bad.
And, hey, it looks like there may be one tiny ray of hope in these numbers. Don’t worry, I did say “tiny”…
Throughout the past few weeks, several law schools have been hit hard by the realities of the market for legal education — there have been faculty layoffs and buyouts galore. We suppose this is what happens when people stop applying to law school in droves. Rather than offsetting the financial losses by charging higher tuition, most schools are “rightsizing” themselves by cutting faculty positions they deem unnecessary, a big blow to those ivory-tower elites who believed their jobs were secure.
But because nothing in the legal profession is very secure anymore, today we’ve got news of layoffs from a public law school facing major budgetary issues thanks to a gigantic funding gap across the entire university system.
Which law school could it be? Keep reading to find out…
Ed. note: Please welcome Above the Law’s guest conversationalist, Zach Abramowitz, of blogcasting platform ReplyAll. You can see some of his other conversations and musings here.
Spring exams are right around the corner, and for most law students, that probably means trying to figure out what went wrong first semester and how to do better this time around. Unless you’re one of the fortunate few who got all As your first semester, hopefully this conversation will give you a better road map for the upcoming exams, or at the very least, make you feel a little better about yourself.
* The panel investigating the Bridgegate scandal gave Gibson Dunn until the end of the week to turn over all materials relied upon to clear Gov. Christie from wrongdoing. Thankfully, the governor was too busy working out to be upset. [New Jersey Star-Ledger]
* Penn Law has named Wendell Pritchett, the chancellor of Rutgers University-Camden, as interim dean to take over for Michael Fitts, who is leaving to become Tulane’s president. What an incredibly deanly name he’s got there. Congrats! [Philadelphia Inquirer]
* New York Law School is launching an in-house institute — the first of its kind in New York City — to help corporate attorneys solve their problems and law students learn about life inside a legal department. Gee, this idea sure sounds familiar. [Corporate Counsel]
* Rachel Canning, the New Jersey schoolgirl who recently dropped a lawsuit against her parents, was caught partying with the boyfriend who was the cause of the entire affair. Tsk tsk, bad girl! [New York Post]
I still have many friends at Columbia, and it was great to see them. I was on the faculty appointments committee that helped hire some of them, and I now regret that we placed such emphasis on their basketball abilities in the hiring process.
It’s time to answer the age old question: how useless are political science majors?
Actually the question is what undergraduate majors provide the best credentials to a law school admissions officer deciding how to best game the U.S. News rankings create a mutually rewarding academic environment. Political science majors don’t look so hot as a category. Even philosophy majors do better than poli-sci students on the LSAT. I guess realizing that law school is the only marketable skill they’ll be able to get since Slavoj Žižek already has “being paid to spout off about ‘The Real’ while dressed as a homeless man” locked up is a powerful incentive to study.
Professor Derek Muller of Pepperdine Law took the time to crunch the numbers for the 2013 incoming class and arranged the findings into a handy chart.
* The Eighth Circuit axed a $900K jury award after a lawyer recounted her tale of sexual harassment by a law professor at Drake University Law during closing arguments. Well, that sucks, but we’d really love to know which professor this was. [ABA Journal]
* If flat is the new up, then mergers must be the new growth. The new year is upon us, and law firms are on track to either meet or break the merger record set in 2013. Thus far, 22 firms have announced mergers or acquisitions in 2014. [Washington Post]
* A lawyer in Minnesota who’s been in trouble with the bar quite a few times was recently charged with setting his girlfriend on fire. Yikes, someone’s way too excited about the Fargo mini-series. [Star-Tribune]
* Oscar Pistorius took the stand in his murder trial yesterday, revealing that when he killed his girlfriend Reeva Steenkamp, he was really trying to protect her. This case gives us the sads. [New York Times]
* Sorry we’re not sorry about the toupee: Paramount wants this Wolf of Wall Street suit dismissed since it’s undeniable the plaintiff was part of “bizarre travesty that was Stratton Oakmont.” [Hollywood Reporter]
The cold call is miffed
and there you are
you’re squirming for your life
you’re a falling star
And all the years
no one knows
just how hard you worked
because you’re Tier Four…
One Shining Moment, your debt’s piling up
One Shining Moment, your career’s frozen in time
It’s over. After 5 rounds of voting, we finally have a champion in the ATL March Madness tournament. Thanks to your voting, we can crown the Worst Law School in America. The championship featured 1-seeded Thomas M. Cooley against 8-seeded Liberty.
* Never text angry. A New York judge just put the kibosh on a man’s suit to secure the return of a $53,000 engagement ring from his jilted would-be wife because he sent an ill-advised angry text. [MyFoxNY]
* A German judge allegedly sold thousands of answers to law exams. When authorities closed in, the judge went on the run before being caught with “€30,000 in cash, a loaded pistol and… a 26-year-old Romanian woman.” Who knew bar exam answer keys were the new Blue Sky. [The Local]
* Here’s the 50 Most Comfortable Prisons in the World. Hopefully the judge above will land in JVA Fuhlsbuettel Prison. [Arrest Records]
* Judge lambasts the Bronx DA’s office after an ADA failed to reveal evidence that would have freed a man held at Rikers Island on bogus rape charges. Unfortunately, this isn’t surprising. [New York Daily News]
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, 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.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…