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How much does being a URM help when it comes to interviewing and hiring? Especially if you're grades are around the 50% area. I ask because I'm a black male at T6 law school and want to work in NYC. Has diversity recruiting completely gone out the window because of the recession?

I doubt it. I think you will do well. heck, many firms offer a summer associate program for minority 0Ls! (for the summer before law school).