Millennials are mad as hell, and they’re not going to take it anymore! Or get that reference!
Well, at least one is. The always entertaining “millennial op-ed” showed up in a business magazine this morning. After reading an entire Crain’s Business feature full of anecdotal evidence from millennials about how “screwed” they are in the current job market, a different millennial wrote an op-ed citing anecdotal evidence about how she’s… unscrewed.
While the feature piece focused on young people who were bartenders, nannys, and “perma-students,” the counter-narrative comes from a millennial who is 2L in law school. And everything is going to work out for her, don’t ya know…
There seems to be a general lament among the elder generation of lawyers in regards to the quality of new law school graduates. Simultaneously, there is also a cacophony of complaints from recent law school graduates about the general state of the legal profession and the dissonance between what they felt they should have received from their law school education. See all the assorted “scamblawgs.”
The older generation’s complaint seems to be that Gen Y grads are, well, complaining too much. Gen Y needs to strap on their big-boy (or girl) pants and get on with it.
Gen Y grads seem to be saying they just haven’t been given the opportunity…
Law school applications are down. It looks like the Millennials just don’t want to go to law school. It’s probably because they’re too busy be lazy and texting, amirite?
Or, if we’re not going to jump on lazy stereotypes that have been passed down from generation to generation since Maynard G. Krebs roamed the Earth, maybe there’s something wrong with the way that law schools approach education and the Millennials just happen to be the generation that inherited the sluggish job market that exposed the festering problems within the legal academy.
Many law schools have suggested that more “practice ready” clinical education is the solution. Elie thinks this is basically a marketing gimmick. I think it’s a valuable complement to legal education, but certainly not a replacement for other reforms.
But maybe the answer is not so much about making “practice ready” students, but making “practice ready” professors….
* After 22 years of dedicated service, William K. Suter, the clerk of the U.S. Supreme Court, will be retiring come August. Now don’t get too excited about that, it’s not really a job you can apply for; you have to be appointed, so keep dreaming. [Blog of Legal Times]
* A Biglaw hat trick of labor deals: if you’re looking for someone to thank for bringing a tentative ending to the management-imposed NHL lock-out, you can definitely reach out to this group of lawyers from Skadden Arps and Proskauer Rose. [Am Law Daily]
* “Thanks for helping us out, but you can go f**k yourself.” AIG, a company that was bailed out by the government, is now considering suing the government with its shareholders. [DealBook / New York Times]
* Apparently there’s such a thing as the “Nick Saban Corporate Compliance Process.” And as we saw from last night’s game, that process involves efficiency, execution, and raping the competition. [Corporate Counsel]
* Guess who’s back in court representing himself in a racketeering trial? None other than Paul Bergrin, “the baddest lawyer in the history of Jersey.” Jury duty for that could be a fun one. [WSJ Law Blog (sub. req.)]
* Too bad last night’s football game between Alabama and Notre Dame wasn’t played by their law schools. In that case, the final score on factors like tuition, enrollment, and employment would’ve been a tie. [HusebyBuzz]
I generally try to defend Millennials in these pages. They might seem like texting-obsessed kids, but we need to cut them some slack. Because they had the American economy pulled out from under them just as they tried to start their adult lives. You just wait, when these guys are 40, they’ll be telling their kids stories of the “Great Recession” and how patience and frugality are chief virtues. They might be telling their kids those stories in Chinese, but still.
But we do have our occasional disagreements. I think the special snowflake syndrome plagues this generation; they’re so obsessed with their own social-media fueled individuality that they tend to think things like statistics don’t apply to them. Part of that is being young; part of that is being dumb.
And part of that is that Millennials, as a group, seem to need compliments in order to function like normal humans. They want you to LIKE THEIR STATUS and retweet their banter with an inane “lol.” If you don’t give them gushing praise, they take it as a criticism. And if you actually criticize them, well damn, you might as well be questioning their entire existence and telling them to kill themselves.
Yesterday, I saw something that takes “gushing praise” to a new, disgusting, saccharine level. And it’s coming from law schools….
I was in Atlantic City this weekend (shout-out to my Rutgers Law homies), so I missed the fascinating story in the New York Times about the “The Go-Nowhere Generation,” until the ABA Journal brought it up yesterday. In a nutshell, the piece suggests that the terrible economy has broken the already questionable will of the Millennial generation and turned them into risk-averse homebodies. Statistically, this generation of young people is less likely to leave home, leave jobs, or take professional risks.
Does that mean these Millennials are more likely to end up being lawyers? Maybe even more likely to end up as Biglaw lawyers? Because nothing says “risk-averse person willing to hang on to a crappy job for a long time because he can’t think of anything better to do” than “of-counsel” at a major law firm.
In fact, if these statistics are true, we might see a deluge of would-be lawyers continue once the children raised during this economy come of age….
Over the 13 years I ran Shepherd Law Group, I employed lawyers of varying ages. I had fortysomethings (full disclosure: I’m 43, although I really don’t look a day over 42), I had thirtysomethings, and I had twentysomethings. This last group, the so-called Millennials, were almost a completely different species. For example, in law school, these newbies click-clacked on laptops in the classroom — even during exams. They communicated with law professors using the email. And they had no idea what a mix tape was.
In practice, it turns out that they work differently, too. I remember walking into the office of one of my newer Millennials when she was working on a summary-judgment brief. Her desk looked like the desk of any brief-writing lawyer, with files and cases and books all over it. But what really struck me was her computer desktop. It must have had 20 windows open, many with tabs hiding other screens.
But at least one of the screens was Facebook, and another was an instant-messaging client. I could see that the IM screen was showing an active conversation. Another screen showed Pandora, which was streaming music I didn’t recognize (it was Portishead) at a reasonably low volume.
I was stunned. How could she get the brief done with all these distractions?
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: