The mainstream media is on to the fact that life kind of sucks for the law school class of 2010. The Wall Street Journal brought your troubles to the attention of the general public earlier this month, and we encouraged you to send the article to your family and friends to explain how screwed you are. But the Wall Street Journal is a subscription-only publication, so maybe your loved ones couldn’t access it.
Now, luckily, National Public Radio has tackled the issue of tough times for law grads. Five Georgetown then-3Ls, now alumni, shared their dismal prospects with NPR on All Things Considered last week. Now those family and friends who either don’t subscribe to the WSJ or are illiterate can also have the opportunity to hear about how screwed you are. Pass it on: Economy Seems Bleak For Graduating Law Students.
Why you gotta hedge, NPR? We think it’s fair to say it IS bleak. Host Robert Siegel asked the five grads how many jobs they had applied for. “I’ve sent out at least 150 résumés and cover letters,” responded one female Georgetown 2010 grad, who scored a government job. “Hundreds,” said another, who is still jobless.
Those inside the legal bubble know that it’s a terrible time to be graduating from law school, so as Ashby Jones notes, this Wall Street Journal article about the sucky job market for law grads holds few surprises. Well, really no surprises: it’s tough this year for law grads.
But it’s good that the Wall Street Journal is spreading the word outside of the legal bubble, letting non-lawyer readers of the WSJ know that the law school golden ticket is currently tattered and torn:
The situation is so bleak that some students and industry experts are rethinking the value of a law degree, long considered a ticket to financial security. If students performed well, particularly at top-tier law schools, they could count on jobs at corporate firms where annual pay starts as high as $160,000 and can top out well north of $1 million. While plenty of graduates are still set to embark on that career path, many others have had their dreams upended.
If you’re having a hard time explaining to non-lawyers just how shattered your dreams are, send this article along to them. It lays it out in a clear and concise matter, and includes simple, pretty charts explaining the supply-and-demand problem in the legal job market.
Now, what should you do if you’re in the enviable position of having post-graduation employment lined up?
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.
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.