This isn’t the first and it won’t be the last time we have to knock down this ridiculous argument. There’s simply a lot of money invested in making prospective law students believe it.
And it makes a certain kind of sense. We’ve extensively reported on the decrease in law schools applications. We’re at all-time historic lows. It’s a comforting and mathematically banal argument that the lack of applications now will lead to a dearth of law graduates in 2016, which will mean great times(!) for the class of 2016. More importantly, law schools want people to believe those brave enough to apply to the class of 2017 will benefit from an “undersupply” of new lawyers by the time they graduate. I promise you more than half of the class at Cooley actually believe this crap.
The problem, of course, is that it’s not true. It’s not true, and the people who say it’s true have no evidence that it’s true. Heck, there’s an “undersupply” of lawyers right now, if you look at poor and low-income clients. But that hasn’t actually resulted in a vibrant hiring market for new and recent graduates now, has it?
It’s a bad argument, but let’s walk through it so you have something to link to when you hear it from friends who don’t know how to use Google….
* Joe Patrice reposted this on his site and I’m linking to it because it’s a great look at the rhetorical weaknesses of the pro-gun argument. It’s old, so you can’t say that he’s being reactionary to the current tragedy. [Recess Appointment]
* Here’s a very good takedown of the self-serving law school rankings from Loyola Law School (LA) Professor Theodore Seto, who magically finds that Loyola Law is the 25th best law school for becoming a Biglaw partner. [Witnesseth]
* And so is arguing over rate increases, according to Susan Hackett; it’s just a distraction from the real conversation that needs to take place about the appropriate pricing of legal services? [Legal Rebels / ABA Journal]
The best time to buy is when everyone else is selling. If August 2012 law school matriculations are truly as bad as the common wisdom expects, then three years from now law grads with decent credentials will be in higher demand than they otherwise would be.
Which schools manufacture the most law firm partners?
Now here are rankings worth paying attention to. Professor Theodore P. Seto of Loyola Law School (Los Angeles) has published a research paper showing the law schools that produce partners at large law firms.
This list seems useful in at least two ways. First and most obviously, if you want to make Biglaw partner money, it’s worth knowing which schools produce Biglaw partners. But this list is also useful when you are thinking about the kind of alumni network that a school can provide.
Obviously, this list is going to favor the elite diploma mills, but there are some interesting surprises…
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.