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https://www.top-law-schools.com/forums/viewtopic.php?f=2&t=154958
It doesn't have to bounce back to pre ITE levels. I'll be happy if it starts noticeably improving...handlesthetruth wrote:
Honestly I was of the "the market is cyclical, it'll all bounce back" mindset until this article.
AntipodeanPhil wrote:(1) many non-elite law firms are experiencing pressure to cut costs; (2) elite law firms will be fine.
This was my take away as well.FantasticMrFox wrote:AntipodeanPhil wrote:(1) many non-elite law firms are experiencing pressure to cut costs; (2) elite law firms will be fine.
How are we judging elite? Where was Howrey on the elite/non-elite firm scale? Maybe they were never elite. So, V10 is elite?shoeshine wrote:This was my take away as well.FantasticMrFox wrote:AntipodeanPhil wrote:(1) many non-elite law firms are experiencing pressure to cut costs; (2) elite law firms will be fine.
Howrey = exception not rule. The economy had to claim at least one major victim and (like banks) once people begin to lose faith in a big law firm it is pretty much over. Clients and partners fled because of uncertainty more than anything else. The article eludes to outsourcing for doc review and other remedial tasks that law firms charge big billable hours for. I think what everyone on here is referring to is that elite firms will not feel the brunt of this "cost reduction" as much as smaller or less prestigious firms that handle the less desirable jobs and clients. As long as M and A transactions start to pick up again then the biggest and most prestigious law firms will be fine.rose711 wrote:How are we judging elite? Where was Howrey on the elite/non-elite firm scale? Maybe they were never elite. So, V10 is elite?shoeshine wrote:This was my take away as well.FantasticMrFox wrote:AntipodeanPhil wrote:(1) many non-elite law firms are experiencing pressure to cut costs; (2) elite law firms will be fine.
dissonance1848 wrote:I love how none of the commenters on the article at the Economist website mention that investment banking is a cartel with no competition, and simply bash law.
I don't think that's what the article was saying.FiveSermon wrote:If only v10 firms = fine, and everyone else should be worried...that's even worse news than expected.
lol wut?dissonance1848 wrote:I love how none of the commenters on the article at the Economist website mention that investment banking is a cartel with no competition, and simply bash law.
Or lawyers with actual work experience.lawscholar20 wrote:Take note of the third to last paragraph.....kind of promoting a JD/MBA or schools like Northwestern an
Penn where business studies can be incorporated into your JD studies.
just for reference purposes, what do you include in "shitlaw"AntipodeanPhil wrote:Interesting. I couldn't help reading it like an RC passage.
The main point: shitlaw is in big trouble - thanks to computers and outsourcing.
Secondary points: (1) many non-elite law firms are experiencing pressure to cut costs; (2) elite law firms will be fine.
Inferences: (1) don't go in to shitlaw; (2) avoid law schools that are likely to leave you with few options besides shitlaw.
FTFYlawscholar20 wrote:Take note of the third to last paragraph.....kind of promoting a JD/MBA or schoolslike Northwestern annext to a business school where business studies can be incorporated into your JD studies.
Penn
I got the sense that the article cast uncertainty on firms well above the shitlaw threshold, unless you are simply counting all non-V100 firms as "shitlaw."AntipodeanPhil wrote: Inferences: (1) don't go in to shitlaw; (2) avoid law schools that are likely to leave you with few options besides shitlaw.
or all those other universities offering JD/MBA a lot of them are all starting to offer the joint degree programs; if this is in any way correct: http://www.top-law-schools.com/forums/v ... f=2&t=8262 then at least 40 universities.lawscholar20 wrote:Take note of the third to last paragraph.....kind of promoting a JD/MBA or schools like Northwestern an
Penn where business studies can be incorporated into your JD studies.
I was specifically pointing out Penn and Northwestern where you can get a nice "business" background without the price and extra year of a JD/MBAFantasticMrFox wrote:or all those other universities offering JD/MBA a lot of them are all starting to offer the joint degree programs; if this is in any way correct: http://www.top-law-schools.com/forums/v ... f=2&t=8262 then at least 40 universities.lawscholar20 wrote:Take note of the third to last paragraph.....kind of promoting a JD/MBA or schools like Northwestern an
Penn where business studies can be incorporated into your JD studies.
But this is me speculating but wouldn't JD MBA be counter productive? I thought that firm died due to partners fleeing from uncertainty so law firms=want certainty but the joint program doesn't add to that certainty with that extra "escape-route" written over it. But the article advocates a more rounded lawyers for survival. Meh, why wasn't I born a few years earlier?