We know that tuition keeps going up at American law schools. And, for the most part, we know where the money goes. Law schools use tuition money and alumni donations to fund capital projects and law professor salaries. And, at some schools, the law school kicks back some money to the larger university. Law schools are cash cows, and everybody likes money.
Who is to blame for this? It’s hard to say. I tend to blame the American Bar Association, since the ABA is one of the few entities with regulatory authority over legal education (some law students are trying to get the Department of Education involved).
If the ABA will not act, it’s only natural for people to make as much money as possible, with reckless disregard to who gets trampled along the way. But one can find other culprits if you look hard enough. You could blame law school administrators, who are more concerned with money than education. You could blame the students themselves, for willingly forking over all of this cash. You could blame the federal government, for seemingly giving away money without making sure the taxpayers are getting a return on their investment.
But you know who you shouldn’t blame? Law school faculty. That’s right — they might get fancy new buildings and make six-figure salaries, but it’s not really their fault that the cost of a legal education has outstripped its value.
Who among us would not take more money and more perks for doing our same job?
A couple of months ago, we brought you the story of Simkins Residence Hall at the University of Texas. The dorm is named in honor of a former UT law professor — a professor who was a Ku Klux Klan leader and organizer. University officials claim they only became aware of Simkins’s KKK past when former UT law professor Tom Russell did some research.
After months of debate, a 21-member advisory group has recommended that UT change the name of the dorm. The proposal will now go up to UT’s Board of Regents. CNN reports:
Gregory Vincent, the university’s vice president of diversity and community engagement, told CNN affiliate KXAN that naming a public building after a self-proclaimed racist compromised the university’s image.
“We’re certainly not erasing Professor Simkins from the annals of UT history,” said Vincent. “All we are saying is that honorific is a very special designation and it should not harm the university’s reputation.”
Sorry Klansmen and Klan sympathizers, Texas needs y’all to be a little less prominent…
How long should students have to wait for fall semester grades? Two weeks? A month? Some students at William and Mary School of Law are still waiting for fall semester grades — and they might not be alone.
I understand that law professors would rather drink wine straight from the box than grade a paper. It’s an onerous responsibility. But, it is a responsibility. Especially in this economy, where students are scrambling for scarce job opportunities. If a student has an incomplete transcript, or can’t produce a class rank upon request, a prospective employer might well go with one of the other hundreds of resumes flooding his or her inbox.
Last month, a student at the University of Texas School of Law complained that he lost out on a judicial clerkship because of one professor’s grading delay. Above the Law received this email on January 25th:
Texas Law’s Student Affairs Office said over the phone this afternoon that Prof. [Redacted] hasn’t submitted grades yet or filed for an extension. UT’s deadline was Tuesday of last week (which is already hilariously late compared to the University’s undergraduate policies). Supposedly, the Law School will dock [the professor's] pay until the grades are in or until he requests an extension, but he’s big pals with Dean Sager.
I’ve already missed out on at least one internship this summer because I didn’t have grades yet. A judge’s office called me to schedule an interview and asked that I bring a transcript. When I mentioned that, as late as Jan 16th, I still hadn’t received a single grade, they went ahead and hired someone else.
We emailed the professor to see if the grades were still outstanding, or why they were delayed in the first place, but he did not respond.
At William and Mary, the situation is such that the class rank of the entire school has been delayed….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: