With LSAT takers down to a 30-year low, and with law school applications dwindling by the day, law schools are hoping that only the best and brightest will choose their institutions. Schools will do anything to protect their coveted yield rate, the percentage of admitted students who actually choose to enroll.
Last week, we shared a story with our readers that had to with with the lengths that law schools will allegedly go to to protect their yield rates. A tipster notified us that UVA Law withdrew his wife’s application after she informed them that she’d be attending another school. That sounds shady, but UVA calls it “standard practice,” and we’re sure other schools have resorted to similar measures given the sad state of the current field of applicants.
We mentioned in Morning Docket: U.S. News recently released a list of the schools that had the highest yield rates in 2012, referring to them as the “most popular law schools.” Chalk it up to schadenfreude on our part, but it figures UVA didn’t make the top 10 on this list — even though a fair share of surprising schools did….
* The Senate approved a bill that will keep the government running through September, and it will likely pass in the House, but much of the sequester is still in place. I think we’re supposed to be excited about this. Uh… yay? [Wall Street Journal (sub. req.)]
* Sorry, folks, but you’re going to have to continue taking the LSAT in order to get into law school because the ABA says so. Drop that $118 into the burgeoning money pit that is law school, stat! [National Law Journal]
* You must remember that time when the University of Texas Law School Foundation authorized $5.5M in forgivable loans to faculty. Well, now the regents are calling for a probe. Yikes! [San Antonio Express-News]
100% of kids who got into this box were in this box!
Earlier today, we talked about the brain drain as law schools have to compete for a dwindling pool of high-scoring applicants. In this market, hitting your targets for your entering class is a tricky business for deans of admission at our nation’s law schools.
It’s an issue of yield: law schools need to make offers to enough applicants to fill their seats, without becoming overwhelmed with matriculating students. If schools that are ranked higher than you start admitting applicants with slightly worse qualifications than usual, you end up with not enough students — and your yield rate (the percentage of students you make offers to that actually accept the offer) goes in the tank. Poor yield rates look bad, and make it harder to predict how many people you need to admit in the first place.
Man, if only there was a way you could know whether or not people would come to your school before you admitted them….
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 seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.