For the past few years, the National Law Journal has been publishing a list of the best law schools to go to if you want to work in Biglaw after graduation. But through the lens of this annual report, we can see some of the changes that have happened in a profession that’s been in transition ever since the Great Recession. From layoffs to law firm collapses, Biglaw has faced many difficulties, and these challenges have been passed on to would-be associates when it comes to hiring.
Take, for example, the hiring scene in 2008, when the law school that earned the highest honors on the NLJ’s report could brag about sending 70.5 percent of its graduates to top law firms. Although we’ve started paving the road to recovery after several sluggish years, the employment picture for law students hasn’t rebounded to those levels.
Slowly but surely, it’s been getting better. In fact, this year, the future for law students seeking Biglaw jobs looks “marginally brighter.” But how much better? Let’s find out….
We’ve written before about the ridiculous National Jurist Best Law School Rankings. Many law bloggers have written about this list that looks like it was put together by getting the Sorting Hat drunk on goblets of fire water and forcing it to name law schools until it passed out.
We’ve all tried to reason with the National Jurist, but it turns out that effort was not unlike trying to convince an infant not to poop while you’re eating. We’d have been better off just ignoring it and cleaning it up later.
The publication came out with an “edit” yesterday, and while its revisions did a good job of highlighting how stupid these rankings were in the first place, I’m compelled to write about them just so nobody is fooled into thinking their “updates” have actually fixed anything….
He’s smiling because he has long forgotten that night at the printers.
Folks often overlook the value of a good 401k plan. But in Biglaw, a good 401k plan is essential because lost in the cocktail of a good salary, crippling debt, and 5-Hour-Energy-fueled document reviews is the fact that you need to start planning for retirement now. Look, there’s a couple ways this legal career is going to go: you can become rich and not even need to care, or more likely you’ll eventually end up as a permanent associate, government lawyer, low-level in-house functionary, academic, temp attorney, or worse, blogger.
The point is you need to set up your road to retirement while you’re still rolling in Benjamins and ordering Seamless at 3 a.m.
Thankfully, someone has gone to the trouble of ranking 401k plans offered by law firms. Without further ado, let’s see those rankings!
Well… I guess the further ado of clicking through to see the full story….
* In the wake of the Montana zombie scare, the Canadians have decided to begin preparing for a zombie invasion from the United States. I just hope zombies are vulnerable to hockey sticks. [The Faculty Lounge]
* Some savvy law students from Indiana looked at the job market and said, “Let’s brew beer instead!” And then they named the beer Black Acre. [The Indiana Lawyer]
* National Jurist is going to “correct” its rankings. But don’t worry, it’s going to keep the Rate My Professors score. That doesn’t bode well for Columbia Law. [Volokh Conspiracy]
These days, it seems like every media outlet that has any remote connection to the law is making an effort to dispel the allure of the esteemed U.S. News law school rankings. U.S. News encourages law school administrators to attempt to game the rankings, they say. The U.S. News rankings are too focused on the test scores of incoming students, they say. And while we agree that some of the U.S. News methodology could be changed for the better, others have only offered up absurdities in their alternative ranking systems.
National Jurist recently came out with its own set of rankings which measure much lauded criteria like the number of Super Lawyers each law school produces, and the quality of each law school’s faculty, as measured by the oft revered website, RateMyProfessors.com. And as with the glorious Cooley rankings, any traction that the new National Jurist rankings might have received went totally out the window when the powers that be at the magazine decided to rank Alabama higher than both Harvard and Yale. Come on, everyone knows that the only place ‘Bama should be ranked ahead of Harvard is on a football field!
As far as we’re concerned, this serves only as an exercise in how not to make a new rankings system….
When it comes to all-important law school rankings, law schools follow the juvenile, Cosmo-esque dating advice of pretending they don’t care while secretly making every decision, consciously or unconsciously, with an eye toward maximizing their appeal.
And that’s not the worst thing in the world. The rankings are there because we generally agree that they measure stuff we want law schools to maximize. But if the rankings counted, say, “employment X months after graduation,” in a down market, the urge for law schools to manipulate that figure is on par with scoring another heroin fix.
Even if it means hiring the students directly to boost the numbers. Schools around the country have been doing this for quite some time.
At one prominent law school, the number of students in school-funded jobs is climbing. Is this a sign that the job market for recent law school graduates has yet to bottom out?
It’s about that time: law school tuition deposits are due in a few weeks, and the class of 2016 will soon be bilked out of hundreds of thousands of dollars in exchange for questionable promises of an improving entry-level job market. So obviously this is a great time for rolling out the latest set of dubious law school rankings.
While GradPrograms ranked the top 25 student-rated law schools, as well as the best law schools for financial aid, we’ve decided to focus on one of the most important parts of the law school experience: your social life. Now let’s be perfectly clear, if these were colleges, they’d be called “party schools.” But because they’re law schools, there needs to be an air of highbrow prestige — hence these “social life” rankings.
Let’s find where you can go to law school and still party your face off….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
LexisNexis and OverDrive®, the digital library solutions provider chosen by 22,000+ libraries, schools and colleges worldwide, have joined forces to provide a library management solution that suits evolving legal research requirements mobility, simplified library management, and space and budget reductions.
Reduce your library costs and extend the budget.
With LexisNexis® Digital Library, overhead and administrative costs for maintaining a print library are reduced dramatically. Adopt an easy-to-use platform that requires minimal staff resources so your organization can make the most out of your library budget. Plus, multi-year purchase options let your library lock in savings.
Empower your librarians.
Your firm’s librarians will have more time to conduct value-added research. They’ll have greater insight into what resources the staff actually uses so they can make adjustments to the collection quickly using a single website. Librarians can gain greater control, which can lead to better library utilization and increased strategic value to the firm.
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 six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!