Prestige

Everybody loves law school rankings, but these are special. These rankings are not based on a formula developed in secret by statisticians or prestige gurus. These rankings are put together by you. By us. By the mass of humanity that makes up the general mob. These rankings are crowdsourced.

The Conglomerate is putting together rankings based on what we think. But they’re not going with a straight popular vote. Instead, they’ve got a brilliant set up where they ask you to make a series of comparisons. Which law school do you think is better: SMU or Maryland? The rankings are based on answers to almost 200 questions like that.

I only answered 20 questions, but I’ll do the rest as soon as I get a free moment. It’s fun. Widener or Arkansas? Connecticut or Hastings? Screw what U.S. News thinks, what do you think?

And the results so far are pretty cool too…

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I don’t know how I missed this last week, but a study reported in the WSJ Law Blog claims that law school prestige is overrated. Significantly overrated. The ABA Journal — which picked up the story this morning — summarizes the work of a professor from UCLA and a professor from Brooklyn Law:

[UCLA law professor Richard Sander and Brooklyn Law School visiting professor Jane Yakowitz] studied data from more than 40 public law schools across the country, and found that applicants tend to go to the most elite law school that will have them. But is that a good idea?

Not according to data collected in the American Bar Foundation’s After the JD study of lawyers who entered the bar in 2000, they write. It indicates that the salary boost for achieving high grades more than makes up for the salary depreciation associated with attending a lower‐ranked school. The study also found that lawyers who left law school with the lowest grades felt the least secure about their jobs.

I’m sorry, did anybody’s worldview just get blown up?

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We’re rolling through the Vault 2011 list of the “prestigiest” firms in the land, so that you can comment on what it’s like to actually live, work, and breathe those firms (when you’re not choking on all the prestige in the air).

We’ve covered #1-10 and #11-20. Here’s the next round-up. Now it’s time for the London-based Magic Circle firms to join in the elite fun:

21. Arnold & Porter
22. Shearman & Sterling
23. Boies, Schiller & Flexner
24. O’Melveny & Myers
25. Ropes & Gray
26. Morrison & Foerster
27. Munger, Tolles & Olson
28. Hogan Lovells
29. Clifford Chance
30. Linklaters

What do associates have to say about the ups and downs of life at these firms? Here are some excerpts from their Vault listings…

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Oh yeah, it’s time to get your prestige on.

The 2011 Vault prestige rankings went live this morning. It’s the time of the year when associates get to make fun of their friends, and partners get to brag to their peers. Law is a prestige-conscious field, and the Vault rankings will set the tone for prestige battles over the next year.

The top five remain the same, but the order has changed:

1. Wachtell
2. Cravath
3. Sullivan & Cromwell
4. Skadden
5. Davis Polk & Wardwell

Sullivan & Cromwell hops back over Skadden this year. I guess Skadden’s Sidebar Plus didn’t have quite enough prestige points.

Moving on, there is one firm that dropped out of the Vault top ten…

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