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….
Justice Sonia Sotomayor is not a fan of the “having it all” concept. As she wrote in her recent (and excellent) memoir, My Beloved World (affiliate link), “having it all, career and family, with no sacrifice to either… is the myth we would do well to abandon, together with the pernicious notion that a woman who chooses one or the other is somehow deficient.”
Even though their panel had the phrase “Having It All” in the title, the participants in an interesting discussion on work/life balance at last week’s big NALPconference would probably agree. One theme that ran through the discussion was that sacrifices, on the work front or home front or both, are inevitable — and there’s nothing wrong with that.
Still, the panel’s emphasis on the need for working parents to rid themselves of guilt didn’t stop some people from shedding a few tears during the discussion….
Banks need panic buttons. Jodie Foster needs a panic room. I only panic when it’s nine in the afternoon. But the thought that American law schools should have a panic button in their career services office didn’t occur to me until I attended the NALP panel on spotting mental health issue in the law school community.
I thought I was in for a touchy-feely hour about how it’s wrong to exclude the awkward gunner in the front row from all the reindeer games. Instead it was a sobering medical breakdown of the mental illnesses that afflict 20 percent of law students — and what career services officers can do to help stop people from literally killing themselves, which happens at way more law schools than I realized.
And yeah, your CSO should probably get a panic button installed if it doesn’t have one already….
The National Association for Law Placement (NALP) has new numbers on the legal job market for recent graduates, and like it has been every year since the start of the Great Recession, those numbers are a horror show. A freaking horror show. They might as well put three recent graduates in a room with one job offer in it, handcuff the graduates to a pole, and give the offer to the one that eats through his arm first.
The other two would then get to leave the room unemployed, with some bite wounds, instead of unemployed with over $100,000 in debt, which is how people are actually leaving law school.
Do you want some good news? The lateral hiring market is hot. NALP executive director Jim Leipold called it a “feeding frenzy” for experienced associates. So if you got a job and held onto it through the 2009 layoffs, pick up your phone. It’s probably a recruiter calling. Congratulations on all your success.
If instead you were not lucky enough to be born five years earlier and have just graduated or are about to graduate, I don’t have anything for you — other than this here hacksaw. Chop, chop….
Hello again from the 2013 annual education conference of the Association for Legal Career Professionals (aka NALP). People here are very friendly — although, as noted earlier, the law firm folks tend to be more welcoming to us than the law school crew.
That’s to be expected, given our sometimes critical coverage of law schools. We seek to promote consumer awareness when it comes to legal education, but some schools — especially those schools with weaker job outcomes for their graduates — perceive this as an attack.
Yesterday I attended a NALP panel discussion about law school transparency. In the course of discussing what we talk about when we talk about transparency, the panelists provided five defenses that law schools can use when faced with criticism over unemployed or underemployed graduates….
Hello from Tampa, Florida, site of the 2013 annual education conference of the Association for Legal Career Professionals (aka NALP). Elie Mystal, Brian Dalton and I have been attending some excellent panels, catching up with old friends, and making new ones (although some law school folks here have given Elie the stink eye).
Yesterday I attended an interesting panel entitled “Homegrown or Not: Lateral Hiring vs. Law Student Recruiting.” The important topic drew a standing room only crowd….
Despite rumors of impendinglayoffs, many people thought that 2012 would be the year that Biglaw would make its comeback after being dragged through the wringer of the recession. You’d think that Biglaw’s “solid performance” last year would’ve served as an indicator of its hiring needs, but as with most predictions having to do with Biglaw, you’d be wrong.
The numbers are in for the fall 2012 summer associate recruiting season, and they’re nothing to write home about. In fact, according to the latest National Association for Law Placement (NALP) report, the median and average numbers of summer offers made to 2Ls took a tumble.
In an uncertain economy, this depressing kind of recruitment activity may be the new normal for Biglaw….
Back in 2011, the National Association for Law Placement (NALP) produced an extremely useful chart for people trying to figure out where to start their Biglaw careers. The chart, which tracks buying power based on starting salaries for associates, is a great way to find out where you’ll get the most bang for your buck if you land a lucrative Biglaw gig.
NALP’s Buying Power Index continues to use New York City ($160,000) as the baseline. It takes the median starting salary for the class of 2011 and the cost of living index for NYC and sets that figure at 1.00. Cities with a better purchasing power than NYC have a value greater than 1.00. In all, 76 cities have been ranked.
When we first wrote about this, associates in New York City were crestfallen when they found out that their city was number 42 on the list — they realized they were essentially throwing their money down the drain. This year, NYC has tumbled even further down the list.
How badly are they getting screwed, and where can you go if you want greater purchasing power?
* NALP is becoming the harbinger of doom for law practice. Here’s some cheerful news: the percentage of female associates in Biglaw dropped for the third year in a row. Perhaps they’re going the way of the Clifford Chance mommy. [National Law Journal]
* Biglaw hotties are coming to a continent near you! Davis Polk & Wardell will be adding a litigation practice to its existing shop in Hong Kong, and they managed to poach two big name Clifford Chance litigators in the process. [DealBook / New York Times]
* According to the ACC, in 2012, base salaries for general counsel rose 1.9 percent, while cash bonuses dropped 7.9 percent. But really, who’s going to complain about a six-figure bonus? [Corporate Counsel]
* A Delaware jury ruled that Apple infringed on several patents in a mobile-device technologies case filed by MobileMedia Ideas. Somewhere, Samsung’s bigwigs are laughing their asses off. [WSJ Law Blog (sub. req.)]
* A woman was arrested in Spain for trying to smuggle in cocaine from Colombia. Seems pretty standard, except for the fact that she was hiding the coke in brand new breast implants — three pounds of it! [CNN]
Ed. note: This is the first in a new series, “Across the Desk,” from Bruce MacEwen and Janet Stanton of Adam Smith Esq. and JDMatch. “Across the Desk” will take a thoughtful look at recruiting, career paths, professional development, human capital and related issues. Some of these pieces will have previously appeared, in slightly different form, on AdamSmithEsq.com.
As noted in the American Lawyer recently, the lateral recruiting boom of recent years continues unabated. As the Am Law article points out, “At the same time [as they’re focused on hiring lateral partners], firms appear to be homing in on their poor performers. Nine out of 10 survey respondents said their firm has ‘unprofitable’ partners, and seven out of 10 said their firms have partners at risk of being deequitized or ‘put on performance plans.’ As one survey respondent put it: ‘There are too many partners without sufficient billable work.’”
Now, wouldn’t you think it would make sense — if firms are worried about underperformers — to pay some attention to associates as well as partners? After all, some of those associates should, speaking theoretically at least, be your future partners.
Yet there’s unrebutted evidence that firms look at the wrong criteria when hiring associates….
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: email@example.com.
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.