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….
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
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.