Late last month, we posed a question: Can Stanford overtake Harvard and Yale and become the #1 law school? We consulted our Magic 8 Ball, which gave this answer: “Outlook Not So Good.”
And it’s not just the Magic 8 Ball. Professor Bill Henderson, one of the leading academics studying the legal profession, constructed a simulation model of the U.S. News rankings. He used this model to figure out what Stanford Law School would have to do to top the list.
For starters, it would need to get its hands on at least $350 million dollars….
Legal Eagle Wedding Watch, like the rest of the nuptial media, is in a state of giddy anticipation over Chelsea Clinton’s upcoming wedding, scheduled for tomorrow in Rhinebeck, NY. We’ll be gobbling up all the juicy details as they leak out, just like the lucky guests will be devouring the vegan and gluten-free fare. Yum!
Chelsea’s big day is one of the social events of the season and is estimated to have up to a $2 million pricetag. This week’s featured weddings may not quite reach that stratospheric territory, but they do have lawyers out the wazoo (unfortunately, neither Chelsea nor her fiancé has a JD; her parents, of course, have two).
Hello, West Coast readers! How’s it hangin’ out there past the Rockies? Here at Above the Law, we try to overcome any suggestion of East Coast bias by consistently publishing a post later in the day for our readers in the Pacific time zone. And we try to be generally aware of West Coast firms and schools.
We’ve even heard of Stanford Law School. It’s like the Harvard of the West, right? We hear it’s wonderful. It’s not Yale, but hey, neither is the Harvard of the East (a.k.a. Harvard).
Stanford Law School Dean Larry Kramer wants that to change. He’s already pushed through grade reform, so now Stanford copies Yale’s grading methods. (Berkeley kids, just be quiet. Nobody wants to hear about how everybody copied it from you.)
But apparently grade reform was just step one of Kramer’s grand plan to oust Yale from its position as the nation’s best law school…
The new U.S. News law school rankings are out. Now it’s time to allow students and alumni to weigh in on their law school and their brand new rank.
At the very top, the order remains unchanged. Yale, Harvard, and Stanford continue to be kings of the U.S. News world. If prospective students can get into one of these schools, they should probably go. Biglaw, legal academia, and Article III clerkships await graduates of these prestigious institutions.
We know the stereotypes of the east coast schools. Yale is the elite training ground for clerks and scholars — and Biglaw dollars are available to those students who want a slice of the pie. Harvard is the most prestigious J.D. diploma factory in the world. HLS is all about big numbers: lots of students, and lots of money for graduates who dive into Biglaw.
Is Stanford the Yale of the west or Harvard of the west? Or would Stanford be ranked even higher but for “east coast bias”? Aside from U.S. News prestige, what’s special about Stanford that Berkeley students wouldn’t understand?
The subtle differences between the top-3 are questions for only a few LSAT rockstars.
Next, let’s check in on Chicago’s march up the rankings…
The Skadden Fellowship Foundation, described as “a legal Peace Corps” by The Los Angeles Times, was established in 1988 to commemorate the firm’s 40th anniversary, in recognition of the dire need for greater funding for graduating law students who wish to devote their professional lives to providing legal services to the poor (including the working poor), the elderly, the homeless and the disabled, as well as those deprived of their civil or human rights. The aim of the foundation is to give Fellows the freedom to pursue public interest work; thus, the Fellows create their own projects at public interest organizations with at least two lawyers on staff before they apply.
Fellowships are awarded for two years. Skadden provides each Fellow with a salary and pays all fringe benefits to which an employee of the sponsoring organization would be entitled. For those Fellows not covered by a law school low income protection plan, the firm will pay a Fellow’s law school debt service for the tuition part of the loan for the duration of the fellowship. The 2010 class of Fellows brings to 591 the number of academically outstanding law school graduates and judicial clerks the firm has funded to work full-time for legal and advocacy organizations.
The 2010 class of Skadden Fellows was just announced. Congratulations to the 27 winners, selected from 20 different law schools. Yale had four, Berkeley (aka Boalt Hall) had three, and Stanford and Fordham had two each.
Check out their names, law schools, and sponsoring organizations — maybe you know some of them? — after the jump.
For LEWW, one of the best things about spring is the return of a reliable stream of lawyer-lawyer couples to the NYT wedding pages. Soon we’ll even be seeing SCOTUS clerks! This week five out of our six newlyweds sports a JD. Here they are:
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
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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.
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