I participated recently in a panel discussion at a conference, speaking with other lawyer/blogger types in front of an audience consisting largely of people from law firms and law schools. After we finished, I did the decent thing and sat and listened to the panel that followed mine. I happened to choose an empty seat next to a woman who introduced herself to me later as a dean at a law school, in charge of career placement, or whatever the euphemism is for trying to find students non-existent jobs. The law school was a small one — yes, one of those dreaded “third tier” places.
She confronted me afterwards. “I guess I’m the bad guy, huh?”
I was startled by her candor, but I knew what she meant. This was one of those people from a third tier law school — the greedy cynical fraudsters signing kids up for worthless degrees, then leaving them high and dry, unemployed and deeply in debt.
Despite her participation in crimes against humanity, I had to admit she didn’t seem so bad, in person.
Then I snapped back to my senses — and went on the attack, assuming my sacred role as The People’s burning spear of vengeance….
Based on recent remarks by current and former leadership at Dewey & LeBoeuf, it seems that the firm is going to end with a whimper, not a bang. The current plan apparently involves no bankruptcy filing or dissolution vote, but just the defection of one partner after another, until nobody is left.
As a law student, having an article accepted for publication in a law review or journal is usually a great way to ensure that your résumé lands on the top of the enormous stack of papers on the hiring partner’s desk. Having a degree from Harvard Law School is an even better way to do the same thing. But the ultimate claim to success is having both of these things. You’ll get the Biglaw job that you’ve always dreamed of, and a six-figure paycheck to pay off your matching six-figure debt.
Unless you’ve been accused of plagiarism. Then you can kiss all of your dreams goodbye, and say hello to the unemployment line. This is what one recent Harvard Law graduate claims happened to her in a lawsuit against her Ivy league alma mater….
* Dear Mr. President: are you in favor of civil rights for gay people or not? Let me put it another way: do you think that you should be allowed to marry the fence that has been banging you for the last four years? [Huffington Post]
* Here are the 15 law schools whose underemployment numbers are higher than their employment numbers. No lie, I was able to name eight of the 15 off the top of my head. [Tax Prof Blog]
* Would you wear a hijab while defending the accused 9/11 terrorists? What am I talking about, unemployed lawyers running around out here would wear a clown suit and mount a goat if they thought it would help them get a client. [Simple Justice]
* Senate Republicans blocked a bill to freeze student loan interest rates. Obviously, students in debt aren’t rich enough to merit help from Senate Republicans. [New York Times]
* What do you do if your neighbors smoke pot and your wife is trying to get pregnant? Well, marijuana makes sperm just as lazy as everything else, but if you are honestly living in a building where you get a “contact high” in the hallway, you should move out and let some awesome people move in. [New York Daily News]
Here’s an unsurprising newsflash: young people have student loan debt, old people have student loan debt, and they have no idea what to do about it. With student loan debt having surpassed the one-trillion-dollar mark, we’ve officially reached a point where the media is calling this the crisis du jour.
We’ve discussed the dangers of incurring student loan debt time and time again throughout these pages, but it seems that people still don’t get it. They’d like some more — hmm, how shall we put this? — “sage” advice. They’d prefer to publish their woes for all to see on “the most popular and widely syndicated column in the world.”
They’ve chosen to go to Dear Abby for the answers….
As I’ve said before, our criticism of law school does not spring from malice. Rather, we want people to make an informed decision about whether to invest three (or more) years of time, and $100,000 (or more) in money, in pursuit of a law degree.
In today’s post, we’d like to talk about the other side of the coin: law school success stories. Let’s hear from people who went to law school and have no regrets — or even view going to law school as the best decision they ever made. Perhaps you might be one of them?
We’ll prime the pump with a few law school success stories, to get the conversation going….
Yesterday, we brought you some pretty gruesome news about the state of the legal hiring market: there isn’t one (which comes as no surprise to graduating 3Ls and the class of 2011). In fact, according to one former law school student who was profiled by Business Insider, almost everyone he knows from law school is unemployed. Another recent law school grad is on food stamps.
Lawyers can deal with unemployment and food stamps, but are any of them homeless?
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: