Many law school graduates are wondering how they can make themselves more marketable in light of their dismal job prospects. Hell, even graduates from elite law schools are having trouble finding jobs these days.
What can these would-be lawyers do to help themselves land a respectable job?
Some of these people are actually so desperate they believe that getting even more legal education will solve their employment woes. Maybe, just maybe, they think, an LLM from a better school will help them wipe the sub-T14 sludge off their résumés. Of course, money is no object, because really, after throwing $150,000 at a wall and hoping that it sticks, another couple thousand dollars is just a drop in the bucket.
But don’t sign up for that LLM just yet, because the masterminds at the University of Texas School of Law may have a solution for you. Education is the key, but it’s not the kind of education that you’d expect….
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?
As you are all know, the University of Texas School of Law has moved into the “top 14″ in this year’s U.S. News law school rankings. It’s a bit of cheat for U.S. News: Texas is technically tied for 14th, which means that the magazine has actually managed to cram 15 schools into its top 14. I’d complain more, but I’m a fan of a Big (We Can’t Count To) Ten school.
While we all know that Texas is in the top 14, very few of you remember the significance of the top 14 in the first place. The top 14 isn’t as arbitrary as it sounds. Since U.S. News started publishing these law school rankings, no school that ranked in the inaugural top 14 has ever been ranked outside of the top 14, and no school that did not rank in the top 14 that first year has ever cracked that list. Until now.
The top 14 has been a way to distinguish elite institutions that are nearly interchangeable with one another from really good law schools that are just a cut below. When viewed that way, Texas’s inclusion was probably long overdue.
Let’s take a look at some of the other movement in this rarefied group of law schools….
Texas exists so I don’t have to make up headlines like the one above. Khou.com reports:
Simkins Residence Hall is the last all-male dormitory at the University of Texas. Tucked into a quiet corner of campus along Waller Creek, it was the first men’s dorm with air conditioning.
It is notable for another reason as well: Simkins is named for a UT law professor who was a leader of the Ku Klux Klan.
Yeah, no average Klan sympathizer can get his name on a dorm in Texas. You’ve got to be a Klan leader for that kind of recognition.
Administration officials claim they only recently became aware of the Simkins’s supremacist background. That’s probably true. But something tells me that 55 years ago, when the dorm opened, somebody at UT damn well knew that this law prof was a Klansman…
Subject: [lawopen] Fed Soc Lunch/ e. coli “episode”
Date: Fri, 16 Apr 2010 19:39:35 -0400
To: [Unofficial Law Listserv]
Hi Law Open,
The Federalist Society would like to extend an apology to anyone who had to experience the wrath of uncooked Pancheros over the last few days. I am among the many victims, spending three days in agony in the bathroom…. (TMI?)
Hope you all feel better!
WOLVERINE WITH DIARRHEA (OF THE MOUTH)
Federalist Society Vice President
“TMI?” Yes. Yes, it is.
Another scatological tale from UT Law, after the jump. Someone truly thinks the place is a third tier “toilet”…
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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