Anonymous User wrote:Data point: last year, 20% of EIW participants did not receive at least one offer through EIW at NYU, and basically all EIW interviewers are biglaw firms. Even in 2009, only 30% of EIW participants did not receive an EIW offer. Compare that to boom years (2008) when only 7% of participants did not receive at least one offer.
But consider that not all of that 20% who struck out are below median (the truly terrible interviewers and those whose hearts weren't in biglaw or only bid on the 3-4 government employers who come to EIW). I'd say the vast majority of median or just-slightly-below-median students land an offer if they bid appropriately, but those in the bottom third of the class probably stand a fairly significant risk of not receiving an offer.
It is funny I am the poster going to bat for this position because I am usually the one arguing with BruceWayne about his Eeyore opinions that there is no difference between CCN and the rest of the T-14, but it is absolutely not true that the "vast majority" of median or slightly below median students get an offer. Let's use your statistic that 20% of people receive no offer and assume that the grade distribution of the people doing EIW mirrors the class. Even if the 20% who don't get offers were perfectly spread throughout the grade distribution, that would only be 80% of medianish kids getting offers, which is a questionable "vast majority" in my book. But of course a disproportionate number of the kids who land offers have high grades. Sure, sometimes a top third kid who is a terrible interviewer strikes out. But top 5% kids, even with terrible personalities, usually get at least S&C (LOL) or something. Thus, the offer rate for above median, especially way above median, is going to be 90%+, thereby dropping the offer rate for the medianish kids. You are right to some extent that this decrease is offset by the fact that a disproportionate number of kids who get no offers are in the bottom third.
But it is not a perfect cutoff line where the top 80% participating are the kids with offers while the bottom 20% participating walk away with nothing. A couple factors make it so some bottom of the class kids land offers and some medianish kids don't. The first one is dumb luck, which plays a bigger role than we realize. The second is the impact of WE, URM, interviewing ability, bidding, markets targeted, etc. The last is that firms do not draw as fine distinctions between a 3.28, a 3.17, and a 3.06 as law students think. The other factors start to play a bigger role. A kid without top grades is effectively shut out of many firms whether he has a 3.28 or a 2.9. The 3.28, the 3.17, the 3.06, and the 2.9 all go on to fight over the same type of unselective firms who may have a very forgiving cut off (maybe the 2.9 gets thrown out), but for the others, all the other factors come into play. At the end of the day, 3.06 and 3.17 may get offers while 3.28 does not.
I've been going on way too long about this, but I stick with my original estimate that if 80-90% get offers, a medianish kid has maybe a 30% chance of striking out, and that has been true throughout the bad economy. Thus, I don't think a T6 below median striking out means that this year is worse than last, especially since it is all anecdotal as IAFG has been pointing out over and over again.