RECESSION PANIC MEGAPOST: Bad economy threads go here!

(Applications Advice, Letters of Recommendation . . . )
skadden_farts
Posts: 4
Joined: Mon Mar 23, 2009 8:04 pm

Student loans and Biglaw salary cuts coming!

Postby skadden_farts » Wed Apr 01, 2009 2:38 pm

dig this: http://ac360.blogs.cnn.com/2009/03/30/s ... lp-wanted/

And read in tandem with this: --LinkRemoved--


Looks like Biglaw is finally paring back pay. You all realize this "economy" in general is screwed, right? Check CNBC this morning, they project almost 800,000 jobs down the crapper for March when the official stats are released on Friday. This shit is going to hit Depression-era levels soon. Bad news for unproductive paper-churning geeks in office towers, that's for sure.

Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that, but it apparently is happening. And current events shape future trends. Many seem to think these economic times are some kind of hiccup, rather than what they are: full cardiac arrest for a once great nation that replaced manufacturing and respectable blue-collar trades with white collar sweatshops full of grossly overpaid wankers "structuring" CDOs and other garbage which will plunge us into the Greatest Depression.

User avatar
volfan6415
Posts: 59
Joined: Mon Mar 02, 2009 2:37 pm

Re: Student loans and Biglaw salary cuts coming!

Postby volfan6415 » Wed Apr 01, 2009 2:39 pm

skadden_farts wrote:dig this: http://ac360.blogs.cnn.com/2009/03/30/s ... lp-wanted/

And read in tandem with this: --LinkRemoved--


Looks like Biglaw is finally paring back pay. You all realize this "economy" in general is screwed, right? Check CNBC this morning, they project almost 800,000 jobs down the crapper for March when the official stats are released on Friday. This shit is going to hit Depression-era levels soon. Bad news for unproductive paper-churning geeks in office towers, that's for sure.

Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that, but it apparently is happening. And current events shape future trends. Many seem to think these economic times are some kind of hiccup, rather than what they are: full cardiac arrest for a once great nation that replaced manufacturing and respectable blue-collar trades with white collar sweatshops full of grossly overpaid wankers "structuring" CDOs and other garbage which will plunge us into the Greatest Depression.



who let in the troll from JDU

User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Cleareyes » Wed Apr 01, 2009 2:46 pm

skadden_farts wrote:
Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that.


I feel bad for them too. Once Soxypirate and Matlock!!! start up their firm the shitlaw market will be cornered and these guys will be out on the street.

As for the rest of your post:

The economy's bad? You don't say. Why hasn't anybody else noticed this? You better tell the media so they can report on some of the stuff going on. And I think you're right about paper pushing jobs being a bad bet. I think getting involved in something more concrete would be a good idea. Maybe auto design or engineering? Those jobs are safe as houses, right?

User avatar
wolfpack-avvocato
Posts: 623
Joined: Wed Nov 12, 2008 4:38 pm

Re: Student loans and Biglaw salary cuts coming!

Postby wolfpack-avvocato » Wed Apr 01, 2009 3:21 pm

Cleareyes wrote:
skadden_farts wrote:
Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that.


I feel bad for them too. Once Soxypirate and Matlock!!! start up their firm the shitlaw market will be cornered and these guys will be out on the street.

As for the rest of your post:

The economy's bad? You don't say. Why hasn't anybody else noticed this? You better tell the media so they can report on some of the stuff going on. And I think you're right about paper pushing jobs being a bad bet. I think getting involved in something more concrete would be a good idea. Maybe auto design or engineering? Those jobs are safe as houses, right?

The economy is bad! :shock: Holy hell when did that happen! :roll:

Pearalegal
Posts: 1433
Joined: Fri Jan 30, 2009 10:50 am

Re: Student loans and Biglaw salary cuts coming!

Postby Pearalegal » Wed Apr 01, 2009 3:24 pm

wolfpack-avvocato wrote:The economy is bad! :shock: Holy hell when did that happen! :roll:


Yeah, the really weird is that its only hitting the legal world.

User avatar
spinsta
Posts: 57
Joined: Wed Feb 18, 2009 10:16 pm

Re: Student loans and Biglaw salary cuts coming!

Postby spinsta » Wed Apr 01, 2009 3:26 pm

Moral of the story: don't go to G-town

User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Cleareyes » Wed Apr 01, 2009 3:27 pm

Pearalegal wrote:
wolfpack-avvocato wrote:The economy is bad! :shock: Holy hell when did that happen! :roll:


Yeah, the really weird is that its only hitting the legal world.


You look like you have a strong back from your picture. Have you thought about construction? I hear that houses are sprouting up like mushrooms, so great is the demand, and any man woman or child who can so much as swing a hammer will be up to their neck in portraits of Ben Franklin if they slap a hardhat on their head and a tool belt 'round their middle

User avatar
djshack
Posts: 74
Joined: Fri Jan 09, 2009 2:25 pm

Re: Student loans and Biglaw salary cuts coming!

Postby djshack » Wed Apr 01, 2009 3:28 pm

skadden_farts wrote:dig this: http://ac360.blogs.cnn.com/2009/03/30/s ... lp-wanted/

And read in tandem with this: --LinkRemoved--


Looks like Biglaw is finally paring back pay. You all realize this "economy" in general is screwed, right? Check CNBC this morning, they project almost 800,000 jobs down the crapper for March when the official stats are released on Friday. This shit is going to hit Depression-era levels soon. Bad news for unproductive paper-churning geeks in office towers, that's for sure.

Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that, but it apparently is happening. And current events shape future trends. Many seem to think these economic times are some kind of hiccup, rather than what they are: full cardiac arrest for a once great nation that replaced manufacturing and respectable blue-collar trades with white collar sweatshops full of grossly overpaid wankers "structuring" CDOs and other garbage which will plunge us into the Greatest Depression.


Seriously. You're at about a new post a day now. Do you HAVE a job? And if not, start looking. I heard McDonald's is hiring, as profits went up as a result of the economy. If you get promoted to full-time fry boy, you may actually get some health benefits (probably depends on the franchise owner). Regardless, it'll get you away from this freakin' message board.

User avatar
Mulliganstew
Posts: 251
Joined: Thu Dec 04, 2008 11:41 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Mulliganstew » Wed Apr 01, 2009 3:36 pm

I don't know how he finds time to post with all of the crying and feeling butt hurt he seems so busy with.

leron
Posts: 140
Joined: Wed Jan 14, 2009 7:22 pm

Re: Student loans and Biglaw salary cuts coming!

Postby leron » Wed Apr 01, 2009 3:38 pm

am i the only one who thinks i'd be just as happy with 145k as i would with 160k? shit, make it 125k while you're at it.

User avatar
doinmybest
Posts: 460
Joined: Tue Jun 03, 2008 10:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby doinmybest » Wed Apr 01, 2009 3:41 pm

lol I thought this was another April fools BigLaw post. But then I saw that Mr. Farts was the OP and I knew it would be some sort of JDU trolling/whatever you do, don't be an attorney/G'town is a TTT.

User avatar
Mr. Matlock
Posts: 1360
Joined: Thu Nov 27, 2008 6:36 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Mr. Matlock » Wed Apr 01, 2009 5:06 pm

Cleareyes wrote:I feel bad for them too. Once Soxypirate and Matlock!!! start up their firm the shitlaw market will be cornered and these guys will be out on the street.


TITCR

Just had a menu tasting yesterday. Kids, the Beef Wellington is going to knock your Soxy's off! Still looking for a few good baritones out there. If you're interested, just PM myself or Mr. Pirate and we'll set up the audition.

Thank you.

User avatar
ZakD
Posts: 18
Joined: Fri Mar 06, 2009 2:32 pm

Re: Student loans and Biglaw salary cuts coming!

Postby ZakD » Wed Apr 01, 2009 5:08 pm

Not interested in this rehashed story, but I do wonder, OP, why the word "economy" was in quotes? Are you citing an outside source because you were unable to come up with a suitable word on your own? Or are you referring to the word "economy" rather than the idea which the word represents? Or do you just not know how quotations are used in English?

(If you meant "this so-called economy" or something along those lines you were still incorrect)

User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Cleareyes » Wed Apr 01, 2009 5:11 pm

Matlock!!!! wrote:. Kids, the Beef Wellington is going to knock your Soxy's off!


So you guys have been formally exonerated regarding that Creutzfeldt–Jakob disease outbreak?

sluggo
Posts: 147
Joined: Thu Jul 17, 2008 1:01 pm

Re: Student loans and Biglaw salary cuts coming!

Postby sluggo » Wed Apr 01, 2009 5:11 pm

I think it was his way of saying our economy is a joke.

User avatar
Drake014
Posts: 886
Joined: Tue Jan 13, 2009 4:22 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Drake014 » Wed Apr 01, 2009 5:15 pm

volfan6415 wrote:
skadden_farts wrote:dig this: http://ac360.blogs.cnn.com/2009/03/30/s ... lp-wanted/

And read in tandem with this: --LinkRemoved--


Looks like Biglaw is finally paring back pay. You all realize this "economy" in general is screwed, right? Check CNBC this morning, they project almost 800,000 jobs down the crapper for March when the official stats are released on Friday. This shit is going to hit Depression-era levels soon. Bad news for unproductive paper-churning geeks in office towers, that's for sure.

Another funny ha-ha- Georgetown grads being "recruited" for doc review shitlaw gigs in armpit areas of West Virginia!
--LinkRemoved--

I can't imagine the sadness of a G'Town grad having to take a shitjob like that, but it apparently is happening. And current events shape future trends. Many seem to think these economic times are some kind of hiccup, rather than what they are: full cardiac arrest for a once great nation that replaced manufacturing and respectable blue-collar trades with white collar sweatshops full of grossly overpaid wankers "structuring" CDOs and other garbage which will plunge us into the Greatest Depression.



who let in the troll from JDU


Dude, read your own link. They're being offered the job. It gave no statistics on how many Georgetown grads are actually taking the job. i.e. a lot of 2nd tier schools offered to let me attend on full scholarship, yet I'm still gonna opt for Berkeley Law.

With an eye for detail like yours, you'll make a fine Bush Administration appointee someday... unfortunately he's out of office so you're screwed.

User avatar
Rocketman11
Posts: 612
Joined: Wed Aug 13, 2008 10:32 am

Re: Student loans and Biglaw salary cuts coming!

Postby Rocketman11 » Wed Apr 01, 2009 5:23 pm

i spoke with my coworker's brother in law today, who is a partner at a sizable firm in DC. He said it's ridiculous how many LS grads come into his place looking for a job expecting outrageous salaries.

If you are thinking about getting your JD, ask yourself if you're OK making < $100,000 (likely FAR under it).

skadden_farts
Posts: 4
Joined: Mon Mar 23, 2009 8:04 pm

Re: Student loans and Biglaw salary cuts coming!

Postby skadden_farts » Wed Apr 01, 2009 5:29 pm

i spoke with my coworker's brother in law today, who is a partner at a sizable firm in DC. He said it's ridiculous how many LS grads come into his place looking for a job expecting outrageous salaries.

_________________________________________

That's because their monthly student loan payments are outrageous because law schools tutions are outrageous. A good idea would be to scrap law schools altogether and go back to the apprentice system. Relegate the first year One L courses back to the undergrad level, and send these worthless law professors out on their asses.

This economy isn't going to recover. The Black Swan is upon us.

User avatar
Mr. Matlock
Posts: 1360
Joined: Thu Nov 27, 2008 6:36 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Mr. Matlock » Wed Apr 01, 2009 5:31 pm

Cleareyes wrote:
Matlock!!!! wrote:. Kids, the Beef Wellington is going to knock your Soxy's off!


So you guys have been formally exonerated regarding that Creutzfeldt–Jakob disease outbreak?

Well, I wouldn't say exonerated. Let me just say that one can never have enough supporting evidence and leave it at that.

BTW, both Mr. Pirate and I LOVED your rendition of "E lucevan le stelle"! Someone should be expecting a phone call soon... :wink:

User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Cleareyes » Wed Apr 01, 2009 5:35 pm

skadden_farts wrote: Image


User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Cleareyes » Wed Apr 01, 2009 5:41 pm

Matlock!!!! wrote:
Cleareyes wrote:
Matlock!!!! wrote:. Kids, the Beef Wellington is going to knock your Soxy's off!


So you guys have been formally exonerated regarding that Creutzfeldt–Jakob disease outbreak?

Well, I wouldn't say exonerated. Let me just say that one can never have enough supporting evidence and leave it at that.

BTW, both Mr. Pirate and I LOVED your rendition of "E lucevan le stelle"! Someone should be expecting a phone call soon... :wink:


Thank you. Wow. You guys were my reach. I actually thought about going with Bella figlia dell'amore but then I was like "What am I doing? Everyone's going to be doing something from Rigoletto, Cleareyes, you have to stand out at least a little bit. I know my DTSAT was close to your median so I felt like if I went for something popular but not ubiquitous I'd have a better chance. I have to say my undergrad institution had some pretty good pre-Dinner Theater advisers.

User avatar
SilverE2
Posts: 931
Joined: Wed Aug 20, 2008 10:04 pm

Re: Student loans and Biglaw salary cuts coming!

Postby SilverE2 » Wed Apr 01, 2009 5:53 pm

go away.

User avatar
Mr. Matlock
Posts: 1360
Joined: Thu Nov 27, 2008 6:36 pm

Re: Student loans and Biglaw salary cuts coming!

Postby Mr. Matlock » Wed Apr 01, 2009 5:57 pm

Cleareyes wrote:Thank you. Wow. You guys were my reach. I actually thought about going with Bella figlia dell'amore but then I was like "What am I doing? Everyone's going to be doing something from Rigoletto, Cleareyes, you have to stand out at least a little bit. I know my DTSAT was close to your median so I felt like if I went for something popular but not ubiquitous I'd have a better chance. I have to say my undergrad institution had some pretty good pre-Dinner Theater advisers.

No, no, no... thank you! Say, while I'm thinking about it, could you fax or email me your schedule for the next few months? I personally will be working with the individual one-on-one rehearsals. Are Friday or Saturday evenings open for you? Maybe just PM me. We'll talk.

For the rest of you, we thought we'd share some tape of our favorite duo audition. So much talent, so few spots, enjoy:

http://www.youtube.com/watch?v=cwRVebPZaXU

User avatar
RVP11
Posts: 2774
Joined: Tue Nov 06, 2007 6:32 pm

Re: Student loans and Biglaw salary cuts coming!

Postby RVP11 » Wed Apr 01, 2009 6:00 pm

I wonder if Skadden Farts ever heard the phrase "MISERY LUVZ TEH KOMPANNY".

stateofbeasley
Posts: 18
Joined: Fri Mar 13, 2009 7:17 pm

Re: Student loans and Biglaw salary cuts coming!

Postby stateofbeasley » Wed Apr 01, 2009 7:44 pm

Regardless of what you think of Skadden's posts, what he is saying has a lot of substantive truth.

In my town's legal market (Philadelphia), we've had one major firm collapse (Wolf Block), and almost every other major firm, including Dechert, Morgan Lewis, Reed Smith, and others, have been slashing associate ranks.

Even worse, people who were summer associates last year are being asked to postpone their start dates til January 2010 or later.

The whole biglaw model, built on the pursuit of ever increasing Profits-per-Partner, is not sustainable.

Corporate clients are no longer willing to pay $800-$1000/hr for a partner, and are absolutely refusing to pay $400/hr for a 1st year associate who knows nothing.




Return to “Law School Admissions Forum”

Who is online

Users browsing this forum: Bing [Bot], Exabot [Bot], goldenbear2020, Google [Bot], guybourdin, TriSapien and 5 guests