Relevance of c/o 2009 data

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rundoxierun
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Relevance of c/o 2009 data

Postby rundoxierun » Tue Dec 14, 2010 6:53 pm

How relevant to the current situation ITE is the c/o 2009 placement data?? I dont know the timeline of how things happened in the legal sector so I am trying to get a little perspective.

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Big Shrimpin
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Re: Relevance of c/o 2009 data

Postby Big Shrimpin » Tue Dec 14, 2010 7:28 pm

w/r/t biglaw...

CO 2009 did OCI in the fall of 2007. 2007 was right before the apocalypse, and hiring was still wayyyyyy better than it is now. CO2009 would have summered in 2008, and presumably have started in 2009 barring any deferrals, etc... Therefore, CO2009 data, since derived from a class that did OCI during the golden years, would be largely inapposite in comparison to CO2010/2011/2012. Bummer, eh?

LurkerNoMore
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Re: Relevance of c/o 2009 data

Postby LurkerNoMore » Tue Dec 14, 2010 7:56 pm

Yup, Class of 2009 data isn't useful for anything but a history lesson.

The legal hiring implosion really happened with the stock market crash in October 2008. The Class of 2010 was in the midst of interviewing -- offers were on the table, with the expectation that yields would be similar to the previous year. All of the sudden offers were snatched up at much higher rates than planned, while firms saw a decrease in their hiring needs. As a result:

Class of 2009 OCI data will reflect the old hiring model. However, members of this class were the class that got "Lathamed" and endlessly deferred when lay-offs swept big law. This, likely doesn't show up on any stats.

Class of 2010 OCI data will be fairly strong, with possible hits at schools that interviewed later in the cycle. This class was subjected to oversubscribed summer classes, no offers, and endless deferrals.

Class of 2011 OCI data will be the first one to take the full hit. Summer classes were slashed. More people were shut out of 2L SAs. On the flip side, offer rates were generally back to the near 100% offer level. Deferrals are yet to be reported widely, though some firms may push back to later start dates than the previous norm.

rundoxierun
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Re: Relevance of c/o 2009 data

Postby rundoxierun » Tue Dec 14, 2010 8:04 pm

LurkerNoMore wrote:Yup, Class of 2009 data isn't useful for anything but a history lesson.

The legal hiring implosion really happened with the stock market crash in October 2008. The Class of 2010 was in the midst of interviewing -- offers were on the table, with the expectation that yields would be similar to the previous year. All of the sudden offers were snatched up at much higher rates than planned, while firms saw a decrease in their hiring needs. As a result:

Class of 2009 OCI data will reflect the old hiring model. However, members of this class were the class that got "Lathamed" and endlessly deferred when lay-offs swept big law. This, likely doesn't show up on any stats.

Class of 2010 OCI data will be fairly strong, with possible hits at schools that interviewed later in the cycle. This class was subjected to oversubscribed summer classes, no offers, and endless deferrals.

Class of 2011 OCI data will be the first one to take the full hit. Summer classes were slashed. More people were shut out of 2L SAs. On the flip side, offer rates were generally back to the near 100% offer level. Deferrals are yet to be reported widely, though some firms may push back to later start dates than the previous norm.


Yea that is pretty much what I thought. Im c/o 2014 so Im basically going to have to make a bet on whether I expect the "recovery" to trend up or things to stay flat. Choosing a school is going to make my head explode.

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Big Shrimpin
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Re: Relevance of c/o 2009 data

Postby Big Shrimpin » Tue Dec 14, 2010 8:14 pm

Dood, you're in at H (lol why didn't you apply to Y)? V with $$$...is that guaranteed? Keep all this employment information in your sights/use it as motivation, but you shouldn't be nearly as scared/anxious as most, especially if you've got a huge load of guaranteed money. Just keep your fingers crossed we don't hit a double-dip recession!

rundoxierun
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Re: Relevance of c/o 2009 data

Postby rundoxierun » Tue Dec 14, 2010 8:27 pm

Big Shrimpin wrote:Dood, you're in at H (lol why didn't you apply to Y)? V with $$$...is that guaranteed? Keep all this employment information in your sights/use it as motivation, but you shouldn't be nearly as scared/anxious as most, especially if you've got a huge load of guaranteed money. Just keep your fingers crossed we don't hit a double-dip recession!

I would still like to estimate an employment picture to get an idea of how terrible a decision it would be to turn down H for a free T10(or possibly free CCN). At the end of the day, even with a nice grant, 125k in loans for H plus 23k in undergrad debt adds up to a lot of damn money.

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Big Shrimpin
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Re: Relevance of c/o 2009 data

Postby Big Shrimpin » Tue Dec 14, 2010 8:41 pm

Very true. You've got some great options, though. GL!

A&O
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Re: Relevance of c/o 2009 data

Postby A&O » Tue Dec 14, 2010 11:44 pm

H for a free T10(or possibly free CCN).


Take the full ride.

Sup Kid
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Re: Relevance of c/o 2009 data

Postby Sup Kid » Wed Dec 15, 2010 12:38 am

A&O wrote:
H for a free T10(or possibly free CCN).


Take the full ride.


TITCR, unless you want to be a professor/gun for CoA clerkships/want to go into politics or something and think "harvard law" will help...if you just want a good job, make good money, etc, there is no need to go into 6-figure debt

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180orbust
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Re: Relevance of c/o 2009 data

Postby 180orbust » Wed Dec 15, 2010 3:55 am

Harvard is stupid. Even if the economy tanks and you're below median at a T10, you'll still get your pick of biglaw because you're a URM. Not only that, but you'll probably get biglaw as a 1L SA. You'll end up making money out of the deal. Definitely go to a T10 for free, and don't look back. Unless you're really burning to gun, but I doubt that--otherwise you'd have applied to Yale (where you'd have probably gotten in).

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sophia.olive
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Re: Relevance of c/o 2009 data

Postby sophia.olive » Wed Dec 15, 2010 4:28 am

Free ride at CCN ITCR IMHO.

Otherwise it is tough UVA free vs. Harvard 120+. I have no idea.
But I would take Yale over UVA and you should apply.

09042014
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Re: Relevance of c/o 2009 data

Postby 09042014 » Wed Dec 15, 2010 5:23 am

ITE Harvard is a CCN in re: big law hiring. Nobody wants LP fools.




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