The Biglaw on-campus recruiting season is a subject of decreasing relevance for most aspiring lawyers, as illustrated by this grim infographic. We are all familiar with the parade of horribles that is the law firm recruitment market, at least from the student point of view. Since the halcyon days of 2007, summer associate class sizes are down at the overwhelming majority of large law firms, often by fifty percent or more. And of course nobody is seriously arguing that class sizes will ever rebound to their pre-recession levels. But 50 percent is not 100 percent; there are still 2Ls who have just made their way through the OCI cattle call.
About a month back, we asked our readers to share their experiences of the OCI process. We wanted to learn where student priorities fall during this era of “New Normal.” For those of you fortunate enough to be in a position to choose among employers, what are the factors driving your decisions? What, if anything, is likely to make you reject an offer? And what, in this unbalanced buyers’ market for legal talent, is the actual interview experience like?
Last week, we wrote about a recruiting snafu involving Kasowitz Benson. The high-powered litigation firm had an unexpectedly high yield for its 2014 summer program, so it started making phone calls in which it either pressed students with offers for a fast decision or effectively rescinded the offer, urging the student to go elsewhere.
A rescinded offer is bad news, especially in an age when fewer students have tons of offers to choose from. But a rescinded offer of a summer associate position is better than a cold offer at the end of the summer, right?
After our story about the controversial Kasowitz calls went up, we heard from multiple former summer associates at Kasowitz with additional allegations of shady behavior — specifically, cold offers….
‘Congratulations on your offer! Take your time deciding.’
The weather here in New York is turning nice and crisp; Sunday is the first day of fall. But because on-campus interviewing gets underway earlier and earlier, “fall recruiting” is almost over for many law students. Those who are lucky enough to be fielding multiple offers for 2014 summer associate positions are now deciding where to go.
But some students are still making up their minds. And one leading law firm wants them to decide faster — or else….
UPDATE (5:40 p.m.): We’ve added comment from the firm below.
The law firm on-campus interview process is a peculiar institution. No other industry entrusts its entire entry-level hiring process to a series of superficial 20-minute “cattle call” interviews two years ahead of when the candidate will actually become a full-time employee. There is something contrived about the whole thing. (This old-ish video clip gives a good sense of the inherent absurdity.)
OCI is still underway at law schools across the country. Firms are currently hustling to interview students nationwide, make callbacks, and extend offers within an arbitrary 28-day window (per the NALP guidelines).
As we recently noted, opportunities to participate in OCI — which continues to be the primary entry point for law students into the largest and best-paying firms — are increasingly harder to come by in the current job market. The reality is, most students are on the outside looking in. Most will never be afforded the opportunity to land one of the few gigs that will actually give them a plausible chance of being able to pay off their student loans.
If you are one of the fortunate ones who just went through or is continuing to take part in OCI, we want to hear about your experiences….
If Socrates was a law professor today, he’d be telling prospective law students not to believe what the blogs say about hemlock.
One expects legal academics to use the Socratic method for teaching students. But when it comes to the subject of going to law school, many of them are engaged in pure sophistry. I think many of them felt insulated from the effects of the recession when only recent law school graduates faced challenging job prospects and non-dischargeable debt loads. But now that law school applications have dropped off, professors are starting to see the barbarians at the gate. For God’s sakes, junior faculty are getting layoff notices, and the ABA just voted to consider dropping tenure as a requirement for accredited law schools. Professors must know that this system of high tuition and no jobs for graduates can’t go on forever.
And so some of them are fighting back. No, not with real reform. But by doing what professors do best: making theoretical arguments largely detached from the realities on the ground. They’re on a public relations campaign of lip flapping, as if the entire crisis in legal education is a media fantasy. For my money, this concerted effort by law school types to fight the war in the press started with Lawrence Mitchell, but we’ve since seen too many bad studies and bad arguments to count.
Today’s entry isn’t even all that bad. This professor spends a large part of his paper detailing the decline of Biglaw hiring that is unlikely to come back any time soon. But at the end, he tries to sound a note of hope — a misleading note of hope — that once again seems to encourage students to go to law school without fully grasping the depths of the problem in the market for legal education…
* With a sharp focus on the Supreme Court and the legal definition of equality, only one thing’s for sure with respect to this week’s anticipated rulings: at least one group of people is probably going to get screwed. [New York Times]
* And lest we forget, thanks to our society’s near slavish obsession with social media and knowledge on demand, we’ll salivate uncontrollably as we wait for those opinions while the justices blissfully ignore new technology. [New York Times]
* The Justice Department charged NSA leaker Edward Snowden with espionage, and now he’s pursuing political asylum in Ecuador with the assistance of legal counsel representing WikiLeaks. [NBC News]
* Biglaw firms are trying to strengthen their pricing power in a post-recession world, with average rate increases of 4.8% in 2012, and hourly rates soaring in New York City. [Wall Street Journal (sub. req.)]
* There’s no solace for people who have had to pay to have their mug shot “depublished” from the internet. Sorry, the First Amendment allows people to turn a profit off your misery. [Washington Post]
* This lawsuit over unpaid internships filed against Gawker will sting any gossip girl’s heart to the core. But really, isn’t the privilege of working for Gawker enough? This fangirl thinks so. [New York Post]
The official NALP numbers are out for the class of 2012, and they stink. We’ve known for a while that they were going to stink, but the final numbers stink slightly more than we thought they were going to stink.
While we had been hoping that entry-level hiring would be slightly up for the class of 2012 over the class of 2011, it’s actually slightly down. The overall employment rate for new law school graduates fell to 84.7%. It’s the fifth consecutive year that figure has fallen. The last time the numbers were this low was in the aftermath of the 1990-1991 recession. Things stink.
You don’t have to tell the class of 2012 that their hiring stinks; they’ve been living in it for over a year now. And you don’t have to tell the class of 2013 that their prospects aren’t much better; they’re out of school now, they know. Rising 3Ls in the class of 2014 might be deluding themselves that everything is going to be sunshine and roses for their class, but if they aren’t busy securing jobs this summer, they’ll learn what bitterness and failure taste like soon enough.
In fact, the only people who seem to need to be told that hiring is REALLY, REALLY BAD are American law schools, who continue to make statements and push programs as if getting a job in this market happens in a classroom instead of on a telephone or at a networking event…
The legal profession has changed greatly over the almost seven years since the launch of Above the Law. Do these changes amount to a paradigm shift? Or are they just a temporary blip that will eventually be reversed?
Professor David Wilkins, Director of the Program on the Legal Profession at Harvard Law School, is one of the most astute and well-informed observers of law as both a profession and an industry. In his recent keynote at the NALP annual education conference, Professor Wilkins considered these questions, and also shared his predictions about the future of the legal profession….
As all sentient beings are aware, we have a terrible, horrible, no good, very bad legal job market. According to NALP data, the industry is down 50,000 jobs since 2008 and there is no reason to believe they will ever reappear. If you ignore school-funded positions (5% of the total number of jobs), this market is worse than its previous low point of 1993-1994. In light of these grim economic realities, we feel that potential law students should prioritize their future job prospects over other factors in deciding whether to attend law school. To put it mildly, inputs- (LSATs, GPAs, per capita spending, etc.) and reputational survey-based law school rankings schemes have proved unsatisfactory. Hence our release last week of the ATL Top 50 Law Schools, which is based on nothing but outcomes.
(Although he probably disapproves of all rankings, it must be said that the legal world owes a great debt to Kyle McEntee and his colleagues at Law School Transparency. LST has forced us all to look at the publicly available employment data, submitted by the schools to the ABA, in a more meaningful way. Like all good ideas, it seems obvious in retrospect.)
We received a ton of feedback and comments regarding our rankings and our methodology, much of it thoughtful and substantive. (Our very own Elie Mystal weighed in with this takedown the day after we published.) Quite a few recurrent criticisms emerged from the comments. Of course there’s no perfect dataset or methodology. At best, rankings are a useful simulacrum and just one of many tools available to 0Ls for researching and comparing schools.
What follows are the most common criticisms of the ATL Top 50 Law Firms rankings….
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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