Jewish Journal weighs in bad market for law grads

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Locke N. Lawded
Posts: 84
Joined: Thu May 27, 2010 9:15 pm

Jewish Journal weighs in bad market for law grads

Postby Locke N. Lawded » Wed Jun 02, 2010 12:27 pm

http://www.jewishjournal.com/cover_story/article/economic_downturn_is_giving_law_school_students_the_summertime_blues_201005

The legal profession has traditionally been one of the most prudent career paths in America. But what once seemed a secure route to a bright future has hit a bottleneck as job prospects in the industry have become, at best, anemic, since the beginning of the economic crisis in 2008. Students saddled with huge debt now face graduation with frighteningly few options, even those coming from the nation’s best law schools.

The Web site Law Shucks determined that “2009 will go down as the worst year ever for law-firm layoffs,” based on its archive of press releases, leaked e-mails and news reports. The data show that 4,633 lawyers were let go last year from the group of high-powered, high-paying national firms loosely known as “Big Law.” And those numbers don’t even include lawyers whose firms dissolved completely, who were the victims of “stealth layoffs” masquerading as firings, or who were laid off by smaller firms. In other words, Law Shucks concluded that, in 2009, “More people were laid off by more firms than had been reported for all previous years combined.”


In the end, Warner found a job with USC’s own Small Business Clinic, which helps law students gain experience by giving legal advice to small businesses that cannot afford market rates. She was one of two students taken from a pool of 50. “I’m thrilled to have a paying and interesting summer job,” Warner said.

But during the time she was searching for summer work — as late as April — Warner contemplated taking out even more loans to support herself over the summer. “Many of my classmates are still searching for summer jobs or have taken volunteer positions,” she said. “A lot of people, if they are from out of state, are going back home and living with their families [for the summer].”

For the class of 2012, the reality that they may not obtain top-dollar jobs has sunk in early. “It’s disheartening to work so hard and it’s still not enough. Who knows what the person who got that summer associate job had that I didn’t?”

TTTGrad
Posts: 63
Joined: Fri May 21, 2010 8:43 pm

Re: Jewish Journal weighs in bad market for law grads

Postby TTTGrad » Wed Jun 02, 2010 12:41 pm

You know the market has drastically changed when kids are taking shitlaw positions for $40-50K a year, expect to bill 2,100-2,300 hours and consider themselves "lucky." The kids from the Worcester story (e.g., email spat with TTT lawyer) was right. This is not a prestigious profession anymore.

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thesealocust
Posts: 8448
Joined: Mon Oct 20, 2008 8:50 pm

Re: Jewish Journal weighs in bad market for law grads

Postby thesealocust » Wed Jun 02, 2010 12:46 pm

edit: n/m
Last edited by thesealocust on Sun Jun 27, 2010 2:53 pm, edited 1 time in total.

miamiman
Posts: 1486
Joined: Mon Mar 02, 2009 8:55 pm

Re: Jewish Journal weighs in bad market for law grads

Postby miamiman » Wed Jun 02, 2010 12:51 pm

thesealocust wrote:OK. Locke N. Lawded has officially gone from amusing new guy to obnoxious spammer.

(mods?)



ha, agreed. it was amusing at first though.

swester
Posts: 65
Joined: Sun Apr 04, 2010 5:02 pm

Re: Jewish Journal weighs in bad market for law grads

Postby swester » Wed Jun 02, 2010 1:57 pm

More
thesealocust wrote:OK. Locke N. Lawded has officially gone from amusing new guy to obnoxious spammer.

(mods?)


More like the court jester - i.e. the only person telling the truth in the king's court while the onlooking peons laugh.

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thesealocust
Posts: 8448
Joined: Mon Oct 20, 2008 8:50 pm

Re: Jewish Journal weighs in bad market for law grads

Postby thesealocust » Wed Jun 02, 2010 2:02 pm

edit: n/m
Last edited by thesealocust on Sun Jun 27, 2010 2:53 pm, edited 1 time in total.

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bk1
Posts: 18426
Joined: Sun Mar 14, 2010 7:06 pm

Re: Jewish Journal weighs in bad market for law grads

Postby bk1 » Wed Jun 02, 2010 2:03 pm

Anonymous User wrote:More
thesealocust wrote:OK. Locke N. Lawded has officially gone from amusing new guy to obnoxious spammer.

(mods?)


More like the court jester - i.e. the only person telling the truth in the king's court while the onlooking peons laugh.


180 on the use of the anonymous feature.

Locked and Loaded is merely regurgitating things that are already obvious to most people who use TLS, he/she isn't doing anything useful.

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Always Credited
Posts: 2509
Joined: Wed Jun 24, 2009 1:31 pm

Re: Jewish Journal weighs in bad market for law grads

Postby Always Credited » Wed Jun 02, 2010 2:04 pm

Everyone should have Locke's primary motivation figured out by now. He's like a little kid.

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YCrevolution
Posts: 4714
Joined: Sat Oct 25, 2008 1:25 am

Re: Jewish Journal weighs in bad market for law grads

Postby YCrevolution » Wed Jun 02, 2010 6:22 pm

..

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Cosmo Kramer
Posts: 141
Joined: Fri Jun 05, 2009 12:11 am

Re: Jewish Journal weighs in bad market for law grads

Postby Cosmo Kramer » Wed Jun 02, 2010 10:03 pm

Lock n Lawded and TTTGrad sittin in a tree, k-i-ss-ing. first comes love, then comes marriage, then comes another redundant post in a baby carriage.

sorry the tune didn't work out as well as the original.




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