There’s a really funny post up on Constitutional Daily, in which the protagonist — who holds a J.D. from NYU Law and was laid off from Biglaw during the recession — recounts his inability to secure a job at Target. It got me thinking of that other great lie that law schools tell incoming law students: “Yada yada, you can do anything with a law degree… also, I’d like to interest you in partial ownership of the Brooklyn Bridge.”
But many J.D. holders have found out the hard way that holding a law degree only opens doors to “law” jobs. They aren’t degrees of general utility.
If anything, they close more doors than they open….
Don’t shoot me, I’m just the messenger. I bring tidings of woe not because I’m trying to rob you of your right to pursue a legal education; I’m trying to help you. Call me Elie Stormcrow.
Actually, today The Atlantic is the messenger reminding you of the serious financial peril involved in starting a legal career. The recession might be over but the recovery hasn’t happened for all. And we’re not just talking about the Occupy Wall Street people. No, no, things remain pretty bad for lawyers and bankers. Here’s the money quote from the Atlantic: “In 2011, finance, insurance, and law were the three primarily white-collar professions that managed to shed workers, even as the rest of the economy trudged forward through a slow recovery.”
Yeah folks, even in 2011, the legal economy was still shedding jobs. But it’s not like law schools were spitting out fewer graduates, so… you do the math.
Here, the Atlantic has put things in a fancy chart. Pictures people, it’ll be like an LSAT game: how many people made a terrible investment in higher education?
But instead of combating 2011′s annus horribilis for law schools by calling for reform, Robinson is defending the ABA’s role, stating that young lawyers “should have known what they were getting into.”
Isn’t it wonderful to know that the man in charge of the ABA is essentially playing the “blame the victim” card when it comes to debt-saddled and unemployed law school graduates?
It woud be nice if the Senate could have actually given this guy a vote instead of forcing the present ugliness.
* The recess appointment of Richard Cordray to head the CFPB could get tricky — not because Republicans are outraged by recess appointments (much like Democrats are outraged by obstructionist filibusters), but because Congress isn’t technically in recess, due to the sham sessions Congress has been running. [WSJ Law Blog]
* Is it really that surprising that the unemployed are NOT on drugs? Aren’t Republicans the ones who are supposed to understand that in a market, desirable goods cost money? If you want to drug test a constituency, do a random raid at a white-shoe law firm, and don’t forget your chemistry set. [Huffington Post]
* It’s nice to ask permission before you appropriate somebody’s song as your campaign theme. [Fox News]
* Thanks to everybody who voted for us as their favorite legal blog for news in the ABA Journal’s Blawg 100 poll. You’ve given us the strength to keep reporting on spring bonuses, even though they don’t technically exist yet. [ABA Journal]
* Merry Christmas! House Republicans will get one less lump of coal in their stockings this year after accepting a two-month extension of unemployment benefits and payroll tax cuts. [New York Times]
* Another birther lawsuit has been thrown out, but Orly Taitz won’t be stopped. She’s like the Energizer Bunny of questionable litigation. She’ll keep appealing, and appealing, and appealing… [Los Angeles Times]
* John Edwards is trying to delay his criminal trial, claiming to have a mystery medical diagnosis. What kind of disease does karma hand you for cheating on your sick wife? [New York Daily News]
The Occupy movement has reached the legal profession, with an unemployed law graduate launching a campaign to occupy the Inns of Court (London’s legal quarter).
“Through no fault of our own, a generation of [law school] graduates find ourselves with no jobs — or no jobs as lawyers anyway,” wrote the graduate under the alias “OccupyTheInns” on Legal Cheek, a blog I edit. “The lucky ones are paralegals. The unlucky ones work in bars (not the Bar)… It is for these reasons that I propose peaceful direct action. It is time to occupy the Inns of Court.”
Responses to the plan have mostly been negative, but the broad sentiment of discontent has struck a chord. Catrin Griffiths, editor of The Lawyer magazine, summed up the mood: “I don’t buy much of [OccupyTheInns'] argument, which smacks too much of entitlement, but it signifies something bigger, related to the growing crisis of a million young people unemployed in the U.K.”
However, even with our spiralling unemployment rates, and love of protesting, I’d be surprised if an occupation of legal London took off. While many U.K. law school graduates are jobless and indebted, most still have a decent shot of making it into the profession. As such, they have too much to lose by winding up the establishment.
Maybe OccupyTheInns should instead re-direct their energies to recruiting the potentially far more vulnerable, high-earning, senior lawyers who look set to lose their jobs over the next few months?
When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
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: firstname.lastname@example.org.
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