I previously wrote about the depressing prospects for graduates of all but the top ten or twenty law schools (“Two Law Grad Markets”). And yes, these were statistical generalizations, and the experience of specific individuals with particular skills and backgrounds will always be different, pro and con. But as an industry, if you care about our supply chain for talent, many law schools are burning platforms.
There are actually some closely connected problems driving this dynamic:
More JDs are being turned out each year than there are (a) full-time, (b) long-term jobs, (c) requiring bar passage, (d) at current salary levels;
perhaps the primary reason for the mismatch between supply of JDs and current demand for them (about two supplied for every one today’s market is demanding) is that clients increasingly resist paying for junior associates, which makes it uneconomic for firms to invest in traditional training;
but/and at the same time, every sentient observer is painfully aware that vast segments of the U.S. population — consumers and businesses alike — remain underserved by lawyers.
This would prompt any economist to ask, almost instinctively, “Why isn’t there a market-clearing price where supply and demand can meet?” Which is another way of asking, “What if there were a way to address both these problems at a single stroke?”
We’ve talked extensively about the decline in law school applications. Law schools are now entering a time of consequences. Schools at the very top are going to do fine. Shockingly, schools at the very bottom are probably also okay, as there is always somebody who has no business going to law school who still wants to go.
But schools in the great middle — from just outside the top tier to anybody trying to maintain a bare minimum of standards — are feeling the crunch.
Something has to give. And one law school on the West Coast has decided that people should be the first to go. First, the school fired staff. Now, the school is slashing class size. But I’ll note that the school does not seem to be slashing salaries or cutting tuition. Apparently, people are easier to cut than budgets….
* No, silly, Ruth Bader Ginsburg isn’t “too old” to be a Supreme Court justice. So what if she uses the SOTU address as her personal naptime? She’s brilliant, and everyone loves her. [Los Angeles Times]
* “Justice delayed due to overworked judges can … mean justice denied,” and Obama’s got a lot of work ahead of him due to a “uniquely high” amount of judicial vacancies on his watch. [National Law Journal]
* After the SCOTUS ruling on the Voting Rights Act, Southern states have rushed to push out voter ID laws. But isn’t that discriminatory? “Not true, not true,” as Justice Alito would say. [New York Times]
* It turns out the Foreign Intelligence Surveillance Court’s redefinition of the word “relevant” is what has allowed the NSA to collect anything and everything. Say au revoir to privacy! [Wall Street Journal (sub. req.)]
* Layoffs: they aren’t just for Biglaw firms anymore! McGeorge Law School is downsizing its staff and student ranks due to an “unprecedented drop” in applications. Another one bites the dust; which law school will be next? [Sacramento Bee]
* Client 9, aka Eliot Spitzer, announced his candidacy for NYC comptroller. He’ll run against Kristen Davis, the woman who once set him up with escorts. That’ll be an awkward debate. [New York Times]
* As the prosecution rests its case and the defense’s acquittal motion is denied, a nation is left wondering whose voice it was on that 911 recording — Trayvon Martin’s or George Zimmerman’s? [CNN]
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 seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.