run26.2 wrote: Veyron wrote: dood wrote:
romothesavior wrote:Your school places less than 25% into NLJ 250 firms, and you think 30% are making 160k? Come on dooder, be real here.
dunno, whatever law school transparency reports is prolly right. if its 25%, then its 25%.
His point is that a fair number of NLJ 250 firms don't pay 160.
And dood's point is that LST is not reporting on the % at NLJ 250s, but on the actual salaries. Of the reported salaries, over 38% are 160 or above. See --LinkRemoved--.
Of course, the salary data is not comprehensive, and with only 57% of the salaries reported, you could expect a significantly smaller percentage to be at 160. Btw - even if none of the reported salaries were at 160, you would still have about 22% of the class making 160, assuming LST's data is correct.
Just to clarify this, what the data on LST shows is that 38% of the Class of 2009 accepted offers that would have paid them 160K to start. Two major reasons why we know that placement is no longer that strong. First, the reporting rules for 2009 were relaxed to resolve problems caused by all the deferrals, meaning that schools were able to report graduates as making 160K even though they were deferred until the following year. Many 2009 grads never started those jobs, meaning the actual percentage for the Class of 2009 was likely lower than that. The NLJ250 numbers for 2009 support this (31.6% for Class of 2009, meaning that 6.4% of the class either lost their offers or worked at NLJ250 firms who did not respond to the NLJ's survey that year).
Second, 2009 was the best placement year on record for biglaw. Firms slashed hiring by as much as half for the Class of 2010 and even further for the Class of 2011. The NLJ250 placement for GW dropped from 31.6% to 24.8%. The Class of 2011 statistics, once they are available, will be lower than Class of 2010 unless GW somehow reacted differently than every other law school by proactively reducing the entering class size back in 2008 (when '11 grads were enrolling). Given that biglaw hiring is not looking like it will come back, a cautious applicant should further assume that GW grads for 2012 and following years will likewise see fewer than 25% in NLJ250 firms.
The one thing that is in GW's control to improve outcomes for its graduates is to reduce the incoming class sizes. For many large schools that is the best short-term fix they can offer to raise the value of their programs. That almost no schools have done this should raise some concern. The other option is to start reducing tuition significantly; not surprisingly this is also not something schools are likely to do without significant external pressure.