Northwestern Law Class of 2014

(housing, friendships, future exams, all things 2014)
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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 10:03 am

bdubs wrote:
NYT wrote:Lower salaries make it even more difficult for newly minted lawyers to pay off their law school debt — like the $150,000 in loans that David Perry accumulated upon graduation from Northwestern University School of Law in 2009.

Mr. Perry, 37, became a career associate at Orrick after unsuccessfully seeking public service work (which would offer the option of loan forgiveness). But he says he loves his “lifestyle job,” which enables him to work from home and spend time with his infant son while still doing interesting work.


http://www.nytimes.com/2011/05/24/busin ... nted=print

This is depressing.

TBF, he a) is much older even by NW standards, b) graduated during the time all the shit hit the fan, and c)seems generally satisfied with the job he found. However, I assume he'll be on IBR for 25 years.

ETA: Also, his grades, prior work experience, etc are unknown. The NYT has a penchant for picking law grads that aren't very representative of most. See: their story featuring the guy that went to Thomas Jefferson School of Law, a super shitty TTTT, and *shock* couldn't get a job.

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homestyle28
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Re: Northwestern Law Class of 2014

Postby homestyle28 » Tue May 24, 2011 10:09 am

bdubs wrote:
NYT wrote:Lower salaries make it even more difficult for newly minted lawyers to pay off their law school debt — like the $150,000 in loans that David Perry accumulated upon graduation from Northwestern University School of Law in 2009.

Mr. Perry, 37, became a career associate at Orrick after unsuccessfully seeking public service work (which would offer the option of loan forgiveness). But he says he loves his “lifestyle job,” which enables him to work from home and spend time with his infant son while still doing interesting work.


http://www.nytimes.com/2011/05/24/busin ... nted=print

This is depressing.

"...these associates work fewer hours and travel less than those on the grueling partner track, making these jobs more family-friendly."

Given the location and COL, I'd probably be willing to make the $$ trade off If you live an hour south of Pittsburgh, are a dual income family you can service 150k debt on 60k reasonably well, imo. Sure you'll drive used toyotas instead of a new lexus, but I suspect it's doable.

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 10:16 am

homestyle28 wrote:
bdubs wrote:
NYT wrote:Lower salaries make it even more difficult for newly minted lawyers to pay off their law school debt — like the $150,000 in loans that David Perry accumulated upon graduation from Northwestern University School of Law in 2009.

Mr. Perry, 37, became a career associate at Orrick after unsuccessfully seeking public service work (which would offer the option of loan forgiveness). But he says he loves his “lifestyle job,” which enables him to work from home and spend time with his infant son while still doing interesting work.


http://www.nytimes.com/2011/05/24/busin ... nted=print

This is depressing.

"...these associates work fewer hours and travel less than those on the grueling partner track, making these jobs more family-friendly."

Given the location and COL, I'd probably be willing to make the $$ trade off If you live an hour south of Pittsburgh, are a dual income family you can service 150k debt on 60k reasonably well, imo. Sure you'll drive used toyotas instead of a new lexus, but I suspect it's doable.


Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.

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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 10:18 am

bdubs wrote:Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.

Well he graduated in 2009, which was right after the economy completely crashed and budgets were tightened. A lot of government agencies and I assume nonprofits had hiring freezes due to projected revenue shortfalls. Hopefully the economy of 2014 =/= the economy of 2009

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 10:20 am

Flips88 wrote:
bdubs wrote:Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.

Well he graduated in 2009, which was right after the economy completely crashed and budgets were tightened. A lot of government agencies and I assume nonprofits had hiring freezes due to projected revenue shortfalls. Hopefully the economy of 2014 =/= the economy of 2009


LOL viewtopic.php?f=2&t=156129

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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 10:26 am

bdubs wrote:
Flips88 wrote:
bdubs wrote:Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.

Well he graduated in 2009, which was right after the economy completely crashed and budgets were tightened. A lot of government agencies and I assume nonprofits had hiring freezes due to projected revenue shortfalls. Hopefully the economy of 2014 =/= the economy of 2009


LOL viewtopic.php?f=2&t=156129

We're all doomed.DOOOOOOOOOOOOOOoOoOoOoOoOoOMED

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homestyle28
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Re: Northwestern Law Class of 2014

Postby homestyle28 » Tue May 24, 2011 10:31 am

Flips88 wrote:
bdubs wrote:
Flips88 wrote:
bdubs wrote:Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.

Well he graduated in 2009, which was right after the economy completely crashed and budgets were tightened. A lot of government agencies and I assume nonprofits had hiring freezes due to projected revenue shortfalls. Hopefully the economy of 2014 =/= the economy of 2009


LOL viewtopic.php?f=2&t=156129

We're all doomed.DOOOOOOOOOOOOOOoOoOoOoOoOoOMED


I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 10:33 am

homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


I read through the DSK coverage that France has a quite limited extradition treaty with the US, sounds like a nicer place to live than the full fledged non-extradition countries.

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bjsesq
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Re: Northwestern Law Class of 2014

Postby bjsesq » Tue May 24, 2011 10:35 am

homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.

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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 10:38 am

bdubs wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


I read through the DSK coverage that France has a quite limited extradition treaty with the US, sounds like a nicer place to live than the full fledged non-extradition countries.

Relevant: http://www.cnn.com/2011/TRAVEL/05/23/va ... tml?hpt=C2

You get 6 weeks of paid vacation in France by law.

Also when googling "DOOOOOOOOMED" to look for a lolzy picture, a presentation came up by Elizabeth Warren in May 2008 about how over indebtedness was going to ruin the middle class. A woman from the Atlantic responded to it:
But I do not agree that this is the sort of financial holocaust that some argue. The housing bubble peaked in late 2005, meaning that we are now deep into the weeds of negative equity and teaser resets. This year should be the worst for mortgage performance, and yet the most recent figures show that the worst quality loans, subprime, have an overall foreclosure rate of 2% and a delinquency rate of 14%. These are not happy numbers--they represent hard times for a lot of families. And I expect that they will rise still further in the next report, due out in early June. But that's not "demise of the middle class" level; subprime ARMS, the problem market, account for only 7% of outstanding loans.


I found it lolzy how wrong she was and how shit hit the fan 4 months after

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homestyle28
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Re: Northwestern Law Class of 2014

Postby homestyle28 » Tue May 24, 2011 10:43 am

bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


It would be extra helpful for me if, for the first week of classes, you would dress/style exactly like your tar, so as to seem approachable while being easy to find IRL. Thanks in advance :)!

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bjsesq
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Re: Northwestern Law Class of 2014

Postby bjsesq » Tue May 24, 2011 10:44 am

homestyle28 wrote:
bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


It would be extra helpful for me if, for the first week of classes, you would dress/style exactly like your tar, so as to seem approachable while being easy to find IRL. Thanks in advance :)!


I could just pm you my name and you could look at NU's photo directory. I'm easy to approach, btw. I love talking. I never stfu.

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 10:45 am

Flips88 wrote:Also when googling "DOOOOOOOOMED" to look for a lolzy picture, a presentation came up by Elizabeth Warren in May 2008 about how over indebtedness was going to ruin the middle class. A woman from the Atlantic responded to it:
But I do not agree that this is the sort of financial holocaust that some argue. The housing bubble peaked in late 2005, meaning that we are now deep into the weeds of negative equity and teaser resets. This year should be the worst for mortgage performance, and yet the most recent figures show that the worst quality loans, subprime, have an overall foreclosure rate of 2% and a delinquency rate of 14%. These are not happy numbers--they represent hard times for a lot of families. And I expect that they will rise still further in the next report, due out in early June. But that's not "demise of the middle class" level; subprime ARMS, the problem market, account for only 7% of outstanding loans.


I found it lolzy how wrong she was and how shit hit the fan 4 months after


TBF, Elizabeth Warren has made some pretty bogus claims about the financial state of the middle class. I don't think the post was entirely inaccurate.

Disclosure: I know the blogger who posted that opinion piece. She's quite on top of her stuff.

Also, I'm totally down to research the scope of extradition for education related loan obligations in France.

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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 10:47 am

bdubs wrote:
TBF, Elizabeth Warren has made some pretty bogus claims about the financial state of the middle class. I don't think the post was entirely inaccurate.

Disclosure: I know the blogger who posted that opinion piece. She's quite on top of her stuff.

Haha well when you say that it's fine for the middle class to get itself shoulder deep in debt and have a negative savings rate and that all is fine and then 4 months later the housing market completely collapses because of shitty mortgages, you have some 'splainin to do

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homestyle28
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Re: Northwestern Law Class of 2014

Postby homestyle28 » Tue May 24, 2011 10:48 am

bjsesq wrote:
homestyle28 wrote:
bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


It would be extra helpful for me if, for the first week of classes, you would dress/style exactly like your tar, so as to seem approachable while being easy to find IRL. Thanks in advance :)!


I could just pm you my name and you could look at NU's photo directory. I'm easy to approach, btw. I love talking. I never stfu.


DO IT!!!

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 11:01 am

bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


BJSESQ: When do you have to have your bidding list worked out for OCI? We all appreciate the advice. I'll be sure to hunt you down on campus in the Fall.

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bjsesq
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Re: Northwestern Law Class of 2014

Postby bjsesq » Tue May 24, 2011 11:09 am

bdubs wrote:
bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


BJSESQ: When do you have to have your bidding list worked out for OCI? We all appreciate the advice. I'll be sure to hunt you down on campus in the Fall.


I've already been working out my plans with the help of NALP, a spreadsheet of the past year's numbers for callbacks, and the school's subscription to Vault (but mostly NALP and past year's numbers.) I should note that the GPA's for past students who received callbacks should be taken with a grain of salt, as the numbers will likely sway depending on the state of the economy. Grades come out for us some time around the beginning of June, and we need those to bid effectively. I am not sure when bids are due by, however. I owe you an answer on that one.

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 11:11 am

bjsesq wrote:
bdubs wrote:
bjsesq wrote:
homestyle28 wrote:I'm sure we can start a student club centered on faking our deaths to avoid our debts...NU 2014 meet-up in a non-extradition country anyone?


In all srslyness, the 2014 TLS kids are in a unique position: you have a TRUCKLOAD of 2013 TLS kids who are pretty open about themselves and their circumstances. PM us and talk to us in September to help figure out the way things are looking after/during OCI and try to learn some helpful strategies for next summer.


BJSESQ: When do you have to have your bidding list worked out for OCI? We all appreciate the advice. I'll be sure to hunt you down on campus in the Fall.


I've already been working out my plans with the help of NALP, a spreadsheet of the past year's numbers for callbacks, and the school's subscription to Vault (but mostly NALP and past year's numbers.) I should note that the GPA's for past students who received callbacks should be taken with a grain of salt, as the numbers will likely sway depending on the state of the economy. Grades come out for us some time around the beginning of June, and we need those to bid effectively. I am not sure when bids are due by, however. I owe you an answer on that one.


Great, thanks! Do you know when the writing competition results are announced? Is it prior to all of the resume drops?

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bjsesq
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Re: Northwestern Law Class of 2014

Postby bjsesq » Tue May 24, 2011 11:15 am

bdubs wrote:Great, thanks! Do you know when the writing competition results are announced? Is it prior to all of the resume drops?


Not sure on that either, as I didn't participate in the write on competition.

splitmuch
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Re: Northwestern Law Class of 2014

Postby splitmuch » Tue May 24, 2011 12:31 pm

Hey flips, are you in OKC? If so be careful.

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Flips88
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Re: Northwestern Law Class of 2014

Postby Flips88 » Tue May 24, 2011 12:41 pm

splitmuch wrote:Hey flips, are you in OKC? If so be careful.

Yep. haven't been outside since this morning. I await the wrath of mother nature

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bjsesq
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Re: Northwestern Law Class of 2014

Postby bjsesq » Tue May 24, 2011 3:21 pm

OCI bids are due in mid/late July.

LR membership was announced on 8/2/10; 7/28/09; and 7/26/08. Other journals traditionally follow one-by-one after LR (starting with JCLC), with a few days usually between each announcement. Thus, you will not have journal info when you make your bids, and it won't be on your resume.

Thanks, fellow NU person.

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 3:22 pm

bjsesq wrote:OCI bids are due in mid/late July.

LR membership was announced on 8/2/10; 7/28/09; and 7/26/08. Other journals traditionally follow one-by-one after LR (starting with JCLC), with a few days usually between each announcement. Thus, you will not have journal info when you make your bids, and it won't be on your resume.

Thanks, fellow NU person.


You rock, thanks for the info.

Nola
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Re: Northwestern Law Class of 2014

Postby Nola » Tue May 24, 2011 6:36 pm

bdubs wrote:
homestyle28 wrote:
bdubs wrote:
NYT wrote:Lower salaries make it even more difficult for newly minted lawyers to pay off their law school debt — like the $150,000 in loans that David Perry accumulated upon graduation from Northwestern University School of Law in 2009.

Mr. Perry, 37, became a career associate at Orrick after unsuccessfully seeking public service work (which would offer the option of loan forgiveness). But he says he loves his “lifestyle job,” which enables him to work from home and spend time with his infant son while still doing interesting work.


http://www.nytimes.com/2011/05/24/busin ... nted=print

This is depressing.

"...these associates work fewer hours and travel less than those on the grueling partner track, making these jobs more family-friendly."

Given the location and COL, I'd probably be willing to make the $$ trade off If you live an hour south of Pittsburgh, are a dual income family you can service 150k debt on 60k reasonably well, imo. Sure you'll drive used toyotas instead of a new lexus, but I suspect it's doable.


Yeah, the part that got me was that he couldn't find a public service gig. I always assumed that the scope of the 501(c)(3) part of PSLFP was enough to make it so everyone could find something.


This really didn't freak me out. By the sounds of it this is a guy who didn't really ever want a high paying job not to mention he isn't in a top legal market. If you noticed, there was a part of the article indicating that big firms still pay big bucks. By the time we graduate the economy should be on much stronger footing. Unless of course we don't raise the debt ceiling, the commercial real estate market nose dives, or the Chinese real estate bubble pops.

You could always just pay your loans back very slowly over the next 25 years. Still a great career and this is a great school.

bdubs
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Re: Northwestern Law Class of 2014

Postby bdubs » Tue May 24, 2011 6:42 pm





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