RECESSION PANIC MEGAPOST: Bad economy threads go here!

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johnnyutah
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby johnnyutah » Sat Dec 25, 2010 12:46 pm

Nightrunner wrote:
JazzOne wrote:Nevermind. The douchebags are back at it again. Looks like we still need the megapost.

In fairness, there are some members of TLS who could probably stand a little dose of reality, to temper their optimism.

Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.

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JazzOne
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby JazzOne » Sat Dec 25, 2010 11:50 pm

kkklick wrote:Got nothing better to do than to defend people on internet forums, that's a fail in itself. No I didn't bother to read 39 pages of whining, so get off my back and go harass someone else who might care.

I wasn't defending anyone. But you should expect to be harassed when you reply to threads without reading them.

theghostofDrewTate
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby theghostofDrewTate » Sun Dec 26, 2010 9:03 am

johnnyutah wrote:Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.


Good luck, keep working at it. I graduated a few years ago into a robust market with very little debt, and I thank God everyday for how lucky I am to have a job. But you're right, for someone with no experience who strikes out in OCI, it's pretty bad out there. It's not just a supply side problem, demand for US legal services has fallen off a cliff - I see some moderate recovery, but not a strong recovery right now.

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kkklick
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby kkklick » Sun Dec 26, 2010 10:44 am

JazzOne wrote:
kkklick wrote:Got nothing better to do than to defend people on internet forums, that's a fail in itself. No I didn't bother to read 39 pages of whining, so get off my back and go harass someone else who might care.

I wasn't defending anyone. But you should expect to be harassed when you reply to threads without reading them.

Go ahead, I was just offering my opinion.

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Lokomani
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby Lokomani » Sun Dec 26, 2010 11:15 am

johnnyutah wrote:
Nightrunner wrote:
JazzOne wrote:Nevermind. The douchebags are back at it again. Looks like we still need the megapost.

In fairness, there are some members of TLS who could probably stand a little dose of reality, to temper their optimism.

Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.



Bump for real talk.

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HarlandBassett
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby HarlandBassett » Mon Jan 10, 2011 8:30 pm

theghostofDrewTate wrote:
johnnyutah wrote:Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.


Good luck, keep working at it. I graduated a few years ago into a robust market with very little debt, and I thank God everyday for how lucky I am to have a job. But you're right, for someone with no experience who strikes out in OCI, it's pretty bad out there. It's not just a supply side problem, demand for US legal services has fallen off a cliff - I see some moderate recovery, but not a strong recovery right now.

0L asking here, but do most of the ppl who strike out during OCI or end up in the bottom 1/3 at T14s come straight from undergrad (i.e. no work experience)

theghostofDrewTate
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby theghostofDrewTate » Tue Jan 11, 2011 11:48 pm

HarlandBassett wrote:
theghostofDrewTate wrote:
johnnyutah wrote:Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.


Good luck, keep working at it. I graduated a few years ago into a robust market with very little debt, and I thank God everyday for how lucky I am to have a job. But you're right, for someone with no experience who strikes out in OCI, it's pretty bad out there. It's not just a supply side problem, demand for US legal services has fallen off a cliff - I see some moderate recovery, but not a strong recovery right now.

0L asking here, but do most of the ppl who strike out during OCI or end up in the bottom 1/3 at T14s come straight from undergrad (i.e. no work experience)


I think work experience can help, if you have something on your resume to talk about, especially if it is decent business experience (including, but not limited to finance, accounting, consulting, etc.), I give you an extra bump. But I'm just one interviewer and as a lowly associate, my input means next to nothing. Someone who majored in English might give English majors a similar bump. My best advice is to not be below median at a T14 unless it's Harvard (don't know enough about Y or S to give you any dish there, but you'd probably be safe as long as you didn't drool on yourself or defecate in your pants during the interview). I know plenty of unemployed Duke, GULC, Northwestern, Chicago and Michigan grads and I think there is an even distribution of folks with work experience and folks straight from UG with respect to the people I know in that boat. I was talking to one of my co-workers in NY who said out of every HLS couple he knows, at least one of the people in each couple has been laid off. I think things are turning, as M&A is heating back up, but it's still a jungle out there. Get good grades. That first job can play a really big role in charting your career course and bringing your debt down to a reasonable level.

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Veyron
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby Veyron » Wed Jan 12, 2011 12:35 am

theghostofDrewTate wrote:
HarlandBassett wrote:
theghostofDrewTate wrote:
johnnyutah wrote:Seriously. I'm above median at t-14, and after 100s of apps still have yet to get a single interview. It's fuckin' rough out there.


Good luck, keep working at it. I graduated a few years ago into a robust market with very little debt, and I thank God everyday for how lucky I am to have a job. But you're right, for someone with no experience who strikes out in OCI, it's pretty bad out there. It's not just a supply side problem, demand for US legal services has fallen off a cliff - I see some moderate recovery, but not a strong recovery right now.

0L asking here, but do most of the ppl who strike out during OCI or end up in the bottom 1/3 at T14s come straight from undergrad (i.e. no work experience)


I think work experience can help, if you have something on your resume to talk about, especially if it is decent business experience (including, but not limited to finance, accounting, consulting, etc.), I give you an extra bump. But I'm just one interviewer and as a lowly associate, my input means next to nothing. Someone who majored in English might give English majors a similar bump. My best advice is to not be below median at a T14 unless it's Harvard (don't know enough about Y or S to give you any dish there, but you'd probably be safe as long as you didn't drool on yourself or defecate in your pants during the interview). I know plenty of unemployed Duke, GULC, Northwestern, Chicago and Michigan grads and I think there is an even distribution of folks with work experience and folks straight from UG with respect to the people I know in that boat. I was talking to one of my co-workers in NY who said out of every HLS couple he knows, at least one of the people in each couple has been laid off. I think things are turning, as M&A is heating back up, but it's still a jungle out there. Get good grades. That first job can play a really big role in charting your career course and bringing your debt down to a reasonable level.


What about the large % of the class clustered around median, say 40-60% at a T-14 school that doesn't disclose the median GPA? What are their prospects like?

rose711
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby rose711 » Thu Jan 27, 2011 6:25 pm

Here is a list of all the T-14 with the % who reported their salary and whether the school is geographically close to NY, DC, or Chicago AND is the top-ranked school in its area. "L" stands for "lucky" (near one of these places) and "U" stands for "unlucky."

1. Yale (74%). U


I know this was from a while ago, but I did want to point out that there is a commuter train between Grand Central Station and New Haven that runs at least hourly every day. It doesn't take that long. Also, Amtrak makes the same run, as do buses if you don't like the train. I have no idea how anyone could say that Yale is not near NYC. But, as someone did, I thought I would clarify the facts.

firemed
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby firemed » Thu Jan 27, 2011 8:37 pm

rose711 wrote:
Here is a list of all the T-14 with the % who reported their salary and whether the school is geographically close to NY, DC, or Chicago AND is the top-ranked school in its area. "L" stands for "lucky" (near one of these places) and "U" stands for "unlucky."

1. Yale (74%). U


I know this was from a while ago, but I did want to point out that there is a commuter train between Grand Central Station and New Haven that runs at least hourly every day. It doesn't take that long. Also, Amtrak makes the same run, as do buses if you don't like the train. I have no idea how anyone could say that Yale is not near NYC. But, as someone did, I thought I would clarify the facts.


Thanks. I know you were trying to be helpful. But my thought is that if you can't use google maps to figure out where Yale is.... um, maybe you need to practice the phrase "would you like fries with that?"

Though, actually... given the economy we might all want to practice that phrase.

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prezidentv8
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby prezidentv8 » Fri Jan 28, 2011 1:15 pm

A guest on CNN just told me that "I don't think the world is going to end, so gold prices should fall."

<sigh>
Oh, news-entertainment-tv...

bukhela
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby bukhela » Wed Mar 16, 2011 5:14 am

Is the recession good for poor people who still have jobs, but bad for others who have lost their jobs? During a recession, gas price goes down because people drive less. The cost of consumer goods also goes down because the cost of transportating those goods is less, and because people spend less money and buy less. This makes consumer goods more affordable for poor people who still have jobs. Agree or disagree?
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TommyK
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby TommyK » Wed Mar 16, 2011 9:22 am

bukhela wrote:Is the recession good for poor people who still have jobs, but bad for others who have lost their jobs? During a recession, gas price goes down because people drive less. The cost of consumer goods also goes down because the cost of transportating those goods is less, and because people spend less money and buy less. This makes consumer goods more affordable for poor people who still have jobs. Agree or disagree?


There's also less of an incentive for their employer to provide high wages and strong benefits packages. Also the stress of knowing that if you do get laid off that there aren't a surplus of jobs is something that is difficult to quantify, but should be factored into the equation. I don't believe the deflationary effect was great enough to impact me in a substantial way. Bottom line - bad for everybody, just worse for those who are unemployed.

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HarlandBassett
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby HarlandBassett » Wed Mar 16, 2011 10:30 am

TommyK wrote:
bukhela wrote:Is the recession good for poor people who still have jobs, but bad for others who have lost their jobs? During a recession, gas price goes down because people drive less. The cost of consumer goods also goes down because the cost of transportating those goods is less, and because people spend less money and buy less. This makes consumer goods more affordable for poor people who still have jobs. Agree or disagree?


There's also less of an incentive for their employer to provide high wages and strong benefits packages. Also the stress of knowing that if you do get laid off that there aren't a surplus of jobs is something that is difficult to quantify, but should be factored into the equation. I don't believe the deflationary effect was great enough to impact me in a substantial way. Bottom line - bad for everybody, just worse for those who are unemployed.

most wages are "sticky." economics 101

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TommyK
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby TommyK » Wed Mar 16, 2011 11:23 am

HarlandBassett wrote:
TommyK wrote:
bukhela wrote:Is the recession good for poor people who still have jobs, but bad for others who have lost their jobs? During a recession, gas price goes down because people drive less. The cost of consumer goods also goes down because the cost of transportating those goods is less, and because people spend less money and buy less. This makes consumer goods more affordable for poor people who still have jobs. Agree or disagree?


There's also less of an incentive for their employer to provide high wages and strong benefits packages. Also the stress of knowing that if you do get laid off that there aren't a surplus of jobs is something that is difficult to quantify, but should be factored into the equation. I don't believe the deflationary effect was great enough to impact me in a substantial way. Bottom line - bad for everybody, just worse for those who are unemployed.

most wages are "sticky." economics 101


In my case, not sure they were that sticky. My base pay got cut by 10%, 401k matching got cut, my contribution to health benefits had to increase.

This led me to finding a new job, at which they gave out 1-2% raises per annum, largely because the competitive pressures
made it so they didn't have to increase wages dramatically to prevent their top performers from leaving.

Regardless if wages tend to be sticky, the lack of competitive pressures do cause a decrease in incentive for employers to improve situations for their employees. realworldexperience 101

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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby pppokerface » Sat Mar 26, 2011 12:32 am

I am doing a PT internship that barely pays, and I am living off savings in NYC. My lease runs out in July. My internship ends at June, and I really want to stick with it, but I am scrambling for any PT job and can't find anything. I am worried that when my lease ends, I wont have a part time let alone a full time job by July. I do not want to move back in with my parents...I can't. I guess you could say "well at least your parents are letting you move in," but they are crazy Asian parents, I mean so crazy that other Asian parents call them crazy.
Maybe I'll be a cocktail waitress idk, but I have no waiting experience and Im sure that industry is competitive here too.
Also I'm bummed cause my parents are calling my gap year a waste of time, I really worked my bum off to move and get a place here. Geez...I dont think it was a waste of time, I felt like I grew a lot as a person by being in the working world and paying rent/bills etc. I took this gap year at first to retake my LSAT and by the time I got my score I realized that id be applying late because of all the time I would have to take to do my apps. So here I am applying fall of 2011, but in that time, I don't know, I felt like I grew as a person.

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HarlandBassett
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby HarlandBassett » Sat Mar 26, 2011 1:07 pm

pppokerface wrote:I am doing a PT internship that barely pays, and I am living off savings in NYC. My lease runs out in July. My internship ends at June, and I really want to stick with it, but I am scrambling for any PT job and can't find anything. I am worried that when my lease ends, I wont have a part time let alone a full time job by July. I do not want to move back in with my parents...I can't. I guess you could say "well at least your parents are letting you move in," but they are crazy Asian parents, I mean so crazy that other Asian parents call them crazy.
Maybe I'll be a cocktail waitress idk, but I have no waiting experience and Im sure that industry is competitive here too.
Also I'm bummed cause my parents are calling my gap year a waste of time, I really worked my bum off to move and get a place here. Geez...I dont think it was a waste of time, I felt like I grew a lot as a person by being in the working world and paying rent/bills etc. I took this gap year at first to retake my LSAT and by the time I got my score I realized that id be applying late because of all the time I would have to take to do my apps. So here I am applying fall of 2011, but in that time, I don't know, I felt like I grew as a person.

have multiple bartending jobs. i have many Chinese female friends (platonic) who made enough money to pay for their ivy league education through bartending (and gaming men).

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ResolutePear
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby ResolutePear » Fri Apr 29, 2011 1:49 am

THE NEXT WAVE OF BANK BANKRUPTCY CALLS JUST WENT OUT FROM THE FED. :cry:

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leo3333
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby leo3333 » Thu May 12, 2011 2:39 am

...........
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shoeshine
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby shoeshine » Wed May 18, 2011 12:01 am


Klinklang
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby Klinklang » Thu Jun 30, 2011 6:07 pm

Okay, so maybe this is random/somewhere else, but just how bad is it? I'm about to be a senior and looking at schools ranked 25-45, is it a good idea to go anyway? :?:

Thx! :mrgreen:

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MTal
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby MTal » Thu Jun 30, 2011 11:18 pm

Klinklang wrote:Okay, so maybe this is random/somewhere else, but just how bad is it? I'm about to be a senior and looking at schools ranked 25-45, is it a good idea to go anyway? :?:

Thx! :mrgreen:


It's bad. Much worse than as a senior in college you could possibly imagine. Don't go.

Klinklang
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby Klinklang » Fri Jul 01, 2011 1:16 am

MTal wrote:
Klinklang wrote:Okay, so maybe this is random/somewhere else, but just how bad is it? I'm about to be a senior and looking at schools ranked 25-45, is it a good idea to go anyway? :?:

Thx! :mrgreen:


It's bad. Much worse than as a senior in college you could possibly imagine. Don't go.


Even if it were very strong in its state, like U of Minnesota, U of Washington, or U of Colorado at Boulder? I know BigLaw is probably out, but what are my chances of something in law at all that's also $50K or $75K+, would you say? I can't find any statistics on this at all. Lol

firemed
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby firemed » Fri Jul 01, 2011 10:38 am

Klinklang wrote:
MTal wrote:
Klinklang wrote:Okay, so maybe this is random/somewhere else, but just how bad is it? I'm about to be a senior and looking at schools ranked 25-45, is it a good idea to go anyway? :?:

Thx! :mrgreen:


It's bad. Much worse than as a senior in college you could possibly imagine. Don't go.


Even if it were very strong in its state, like U of Minnesota, U of Washington, or U of Colorado at Boulder? I know BigLaw is probably out, but what are my chances of something in law at all that's also $50K or $75K+, would you say? I can't find any statistics on this at all. Lol


This is probably not the thread for this.

Short version: If you can recieve a scholly, even a small one, to U of Minn, U of Wash, or U of Colorado then it is probably worth it. I would do so. Strong regionals like that are usually worth it provided you get a scholly. All law schools outside of the T6 are a risk anymore anyway... if you really, really want to be a lawyer then the options you have listed ain't bad.

ETA: the schools you list give you a shot at BigLaw in their respective cities/regions.... provided you get lucky and get towards the top of your class, obviously.

Klinklang
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Re: RECESSION PANIC MEGAPOST: Bad economy threads go here!

Postby Klinklang » Fri Jul 01, 2011 2:48 pm

Ah okay, thanks a lot! I know it kinda veered off-topic, but those were just example schools as the T6 is almost certainly a no-go.




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