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(Please Ask Questions and Answer Questions)
83947368
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Postby 83947368 » Tue Nov 09, 2010 11:29 pm

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Last edited by 83947368 on Wed Jul 25, 2012 4:31 pm, edited 2 times in total.

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rayiner
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Re: What if the economy turns around...

Postby rayiner » Tue Nov 09, 2010 11:37 pm

Adm.Doppleganger wrote:What if, and this is a big what if, the economy turns around in the next four years or so and firms start hiring?

Furthermore, what if they are hiring at an even higher rate than before--say 2005?

While I personally think the Second American Civil War is more likely to come first, just wondering... would that mean that people on TLS might actually advocate going to say... GW/BU/WUSTL/BC/ND etc rather than a retake?

Just to speculate I'd say even if biglaw offered jobs to seventy percent of USC, GW etc grads TLS would still say it's not worth it.

Anyone else as bored as me? No? Okay.


Of course not. All people on TLS care about is job placement. During the boom, people were ready to call it the T17 because you had a great shot at biglaw from UT/Vandy/UCLA. Now, people don't even flinch when someone invokes the T13 and leaves Georgetown off the list. Hell, a good number of folks don't consider anything outside of YHSCN worth going to, and reasonably so because job prospects at T7-14 now are not much better than they were at Fordham during the boom.

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IAFG
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Re: What if the economy turns around...

Postby IAFG » Tue Nov 09, 2010 11:41 pm

Back in the day people often were encouraged to choose a good scholarship at a State Flagship over T14s. I remember I used to think anyone who took HYS over T10 with $$ was a senseless prestige whore.

83947368
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Re: What if the economy turns around...

Postby 83947368 » Wed Nov 10, 2010 2:48 pm

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Last edited by 83947368 on Wed Jul 25, 2012 4:31 pm, edited 1 time in total.

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AreJay711
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Re: What if the economy turns around...

Postby AreJay711 » Wed Nov 10, 2010 3:27 pm

The problem is that even with a recovery jobs are going to take a while appear. Companies cut a lot of jobs and waste and many even made profits during the downturn (I don't know how well law firms fared relative to others). With an increase in economic activity, they are going to try to stay lean as long as they can. On top of this, I've read that law firms are very conservative by nature so they will lag behind any recovery.

As far as getting lucky with a UCLA degree -- stranger things have happened.

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fugitivejammer
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Re: What if the economy turns around...

Postby fugitivejammer » Fri Nov 12, 2010 11:26 pm

The economy is cyclical - u know that. It went down, damn, but it has done that before and comes back over a period of time. Certain industries, such that AreJay was speaking of, lag behind the overall economy in recovery - law, finance, banking, real estate being amongst those. I feel like collectively, they have bottomed-out over the course of the last year.

These industries are known to cut too deep in times of recession, but usually the opposite is true in a bullish economy. I'd say as the economy improves slowly, these industries will follow behind, and it might take some time for hiring to start goin up to "normal" levels, but once it does things will get smoother. OCIs will probably stay in the same realm they are now for the next several years - maybe improving slightly, but that's speculation.

There have been a lot of publications i've been reading talking about how the legal field will need to restructure and such cuz it may have always been oversized. If there is legitimacy with this AND if the legal field does something about it then hiring may never be as good as pre-2005 again. I can TOTALLY see the same mistake being made though and the legal field swelling up just for the hell of it, so if i'm right, then that'll b good for future TLS-ers lol.

P.S. - UCLA IS the jackpot mang....ur in LA




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