There’s been a lot of talk recently about the value of a law degree, and whether or not it’s actually worth a million dollars, degrees from some law schools are obviously worth more than others. Let’s be real for a moment here: If you’re taking out six figures of debt just for the privilege of attending, your starting salary damn well better be somewhere near the same amount, otherwise you’re going to be underwater for most of, if not all of, your adult life after law school.
Living with debt is scary, and if you want to have a better chance of being able to comfortably do all of the things you thought you’d be able to after getting a law degree, things like owning a home and having a child, you need to choose your law school wisely. You can start evaluating your options — or giving yourself a pat on the back — by checking out the latest U.S. News rankings for the 10 law schools with the biggest return on investment.
Which schools made the list? Not all of them are in the T14, so you may be surprised…
As mentioned in Non-Sequiturs last week, this story is why we can’t have nice things. Specifically, why lawyers make it so we can’t have nice things.
On Friday, the Washington Post reported that Georgetown Law had worked out how to bilk the federal government into fully paying for some its students’ tuition and managed to create a profit for itself on the side. This is caused a bit of a stir Friday afternoon, but unfortunately the practice is neither new nor limited to Georgetown.
Though some tactics Georgetown employs may go beyond what any other school has the gall to attempt….
The ABA Task Force on the Future of Legal Education released a 34-page draft report today about its findings. Essentially, the document says, “Wow, the scam blogs were totally right, we suck.”
Just kidding. I mean, it does finally get to the point of identifying a problem with legal education that law school reformers have been screaming about for years. But, in the immortal words of Sam Seaborn, “Let’s forget the fact that you’re coming a little late to the party and embrace the fact that you showed up at all.”
The top-line findings of the ABA draft report hit on pretty much all of the problems with legal education. But it’s still an open question whether the ABA will actually do anything about this report. I’ll tell you what I find out while I’m at their annual meeting next week, assuming I make it back alive…
Ed. note: We are having an Above the Law retreat this afternoon, so we may be less prolific than usual today. We will return to our regularly scheduled programming tomorrow.
* “I think I am now the hardest-working justice. I wasn’t until David Souter left us.” Justice Ginsburg celebrates her twentieth year on the high bench in true diva style. [USA Today]
* Sorry, EA, the Ninth Circuit thought your First Amendment free expression defense to allegedly stealing college sports players’ likenesses was a load of hooey. [Wall Street Journal]
* “It’s a decision that clearly favors the merchants.” A federal judge gave the Fed a spanking in a ruling on its cap for debit card fees earned by banks after consumer swipes. [DealBook / New York Times]
* The firm that outed J.K. Rowling as author of “The Cuckoo’s Calling” will make a charitable donation as an apology — getting the book to the bestseller’s list wasn’t charitable enough. [New York Times]
* As the bar exam draws to a close today, here’s something to consider: 12,250 people signed up to take the test in New York alone. Are there jobs out there for them? Best of luck! [New York Law Journal]
* Cleveland kidnapper Ariel Castro is expected to speak at his sentencing hearing today, where a judge will decide if a term of life in prison plus 1,000 years is appropriate punishment for him. [CBS News]
To accompany Noam Scheiber’s big article on Biglaw — which I discussed yesterday, and Anonymous Partner analyzed this morning — the New Republic asked six prominent observers of the legal profession (including yours truly) for their ideas on how to fix law school. For all of the blame that Biglaw gets for the profession’s problems, some of the difficulties can be traced back to the legal academy and how it teaches and trains lawyers (or fails to do so).
Let’s check out the various reform proposals. Which ones do you agree with?
Any time the punishment for going to your law school involves a graduate essentially “taking the black” and joining the U.S. Army to escape his crushing debt burdens, you have to be really proud of the value offered by your institution.
The quote from University of St. Thomas Law School graduate Thomas McGregor neatly sums up everything that recent law graduates are facing in this legal economy: “I paid off $108,000 of law school loan debt. All I had to do was put my life on the line.”
Parents, take note of such stories the next time you pressure your kids to go to law school and “get a real job”…
We’ve talked extensively about the decline in law school applications. Law schools are now entering a time of consequences. Schools at the very top are going to do fine. Shockingly, schools at the very bottom are probably also okay, as there is always somebody who has no business going to law school who still wants to go.
But schools in the great middle — from just outside the top tier to anybody trying to maintain a bare minimum of standards — are feeling the crunch.
Something has to give. And one law school on the West Coast has decided that people should be the first to go. First, the school fired staff. Now, the school is slashing class size. But I’ll note that the school does not seem to be slashing salaries or cutting tuition. Apparently, people are easier to cut than budgets….
For prospective law students, the promise of merit-based scholarship money amid a broken legal market seems like an incredible deal. So what if there aren’t any jobs? You’re going to go to law school at a significantly discounted rate, or maybe even for free, so you won’t be at any real loss.
Or will you?
What law schools don’t like to tell you with regard to these frequently conditional scholarships is just how difficult it can be to keep them. When you’re banking the terms of your financial future on a law school grading curve, things can get a little tricky. Some might even describe the situation as a big racket. Thankfully, the ABA has started keeping tabs on these programs, and now there’s a wealth of information available on retention rates for scholarships of this kind.
So out of the 140 schools offering conditional scholarships, which ones are most likely to take back your law school funny money? Let’s find out…
Won’t be long before law schools are getting this guy to sell you legal education.
It really bothers me when law schools resort to “used car salesmen” tactics to try to induce law students to sign up for school. Say what you will about the value of legal education, but it’s not like buying a Sham-Wow. Students can’t be influenced by “special, limited time” offers when trying to decide if and where to invest three years of their time. If nothing else, you’re entering into the lottery to win a legal career, not an iPad Mini.
Law schools that try to exploit “impulse buy” reactions to fill their seats should be ashamed of themselves. They are taking advantage of kids — twenty-somethings who don’t have lawyers or accountants or appraisers representing their interests. Law schools are at a huge informational advantage concerning the true value of their services, value that they try to hide at every turn from independent third parties. Law students are trying to cobble together what they can based on word of mouth, Google, and some published rankings. Turning the screws on these prospective students with offers that “expire in 24 hours” is a good business strategy if you are trying to sell them a toaster, but it’s a disgraceful thing to do for a place that claims to be an “institution of higher learning.”
I can only hope that anybody who received this “hard-sell” email from this law school did the smart thing and just walked away…
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…
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: email@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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