New law grads in private practice are no longer taking home median paychecks in the six figures.
The erosion in BigLaw jobs is depressing the salaries for all class of 2011 law graduates, according to new statistics from NALP–The Association for Legal Career Professionals.
ABA Journal: “New statistics from NALP paint a bleak picture of the job market for 2011 law grads.
The overall employment rate nine months after graduation was 85.6 percent, the lowest it has been since 1994, according to a NALP – The Association for Legal Career Professionals press release. But the [...]
ABA Journal: “In past economic downturns, the number of law school applicants jumped as students extended their studies rather than look for jobs in a down market.
But this year at least 10 law schools are cutting class sizes in an “unprecedented” nod to the changing legal profession, the Wall Street [...]
ABA Journal: “Arizona State University’s Sandra Day O’Connor College of Law isn’t the first to consider helping new graduates hard-hit by the dismal legal economy establish their own law firms.
But it’s hoping to do so in a bigger way than others than other law schools have previously done.
New York Times: “The economics of legal education are broken. The problem is that the cost of a law degree is now vastly out of proportion to the economic opportunities obtained by the majority of graduates. The average debt of law graduates tops $100,000, and most new lawyers do not earn salaries sufficient [...]
Salon: “Approximately half of the 45,000 people who will graduate this year from ABA-accredited law schools will never find jobs as lawyers. (The Bureau of Labor Statistics estimates that over the next decade 21,000 new jobs for lawyers will become available each year, via growth and outflow from the profession.) Most of those [...]
Tax Prof Blog: “Approximately half of the 45,000 people who will graduate this year from ABA-accredited law schools will never find jobs as lawyers. (The Bureau of Labor Statistics estimates that over the next decade 21,000 new jobs for lawyers will become available each year, via growth and outflow from the profession.)
ABA Journal: Law School Transparency has resived its estimates of the total cost of financing a legal education. The group’s new numbers show that the cost of paying full, out of state tuition prices are even higher than originally estimated.
Previously, Law School Transparency had estimated that the average cost of [...]
Business Insider: “With law firms cutting back, thousands of law school graduates are still unemployed while stuck with six-figure student loan debt. Some students have filed class-action law suits against more than a dozen schools alleging that officials misled them about their job prospects after graduation. ‘The system of legal education is completely [...]
OpenMarket.org: “Federal financial aid policies have encouraged law students to borrow increasing amounts to attend law school, despite the glut of lawyers (oddly, government policies encourage more people to go to law school, driving up law school tuition, even as the Obama administration seeks to cut back on vocational education aimed at training [...]
ABA Journal: “Are the wrong people losing interest in law school?
That’s the question posed by the Atlantic, which notes a 13.6 percent drop in applicants who scored highest on the Law School Admission Test, but only a 4.3 percent drop in applicants who scored the lowest. The Law School Admission [...]
The American Interest: “Spring is here, which means that it’s acceptance letter season around many American kitchen tables this time of year. And because many graduate as well as undergrad schools send out acceptances around this time of year, both high school and college students will be checking the mail to see whether [...]
OnlineUniversities.com: In its current state, legal education and the legal profession are not as close as you might think, in a system where law students engage in an overwhelmingly scholarly pursuit rather than professional education. This arrangement has worked for many years, but some experts say a change is coming, fueled by a [...]
ABA Journal: A state court judge has thrown out a lawsuit brought by nine New York Law School graduates against their alma mater.
Although the plaintiffs contend they were somehow misled by published NYLS employment data into believing that their post-graduation job prospects were better than they are, Manhattan Supreme Court [...]
ABA Journal: A lawyer participating in suits against 14 law schools has more ambitious plans in his quest to improve reporting of employment rates for graduates.
On Wednesday, New York lawyer David Anziska announced plans to sue 20 more schools. He hopes there will be more. “I truly believe that at [...]
Lawyerist.com: Bloomberg Law interviews solo David Anziska, who has filed 14 class actions against law schools for misstating employment numbers.
Watch the video about the lawsuits against law schools.
ABA Journal: A bleak jobs picture for law graduates is apparently dissuading more would-be lawyers from applying to law school.
As of Jan. 13, the total number of applicants at ABA-approved law schools stood at 31,815, a drop of 16.7 percent from last year. The total number of applications was 233,361, [...]
ABA Journal: Law grads who can’t find a job may want to try expanding their horizons, according to the publication that ranks law schools.
There are success stories outside of law practice, says the U.S. News & World Report’s Law Admissions Lowdown. The blog lists five alternative careers for grads that [...]
Law.com: Law schools on the whole have not done a great job of providing comprehensive job placement data for the class of 2010, Law School Transparency reported on Jan. 17.
The group looked at the Web sites of 197 American Bar Association-accredited law schools in early January to assess the amount [...]
National Law Journal: “Judge José Cabranes of the U.S. Court of Appeals for the 2d Circuit offered a three-part remedy for what ails the U.S. legal academy before a packed ballroom of legal educators who gathers in Washington for the Association of American Law Schools annual meeting. Cabranes, like others before him, noted [...]
ABA Journal: For Andrea, a past decision to ensure her future in law has left her in a stressed and distressful present. Concerned over how it might affect her job prospects, she would not allow use of her real name. And there is reason for concern: She’s been laid off twice since her [...]
ABA Journal: “In 2010, 85 percent of law graduates from ABA-accredited schools boasted an average debt load of $98,500, according to data collected from law schools by U.S. News & World Report. At 29 schools, that amount exceeded $120,000. In contrast, only 68 percent of those grads reported employment in positions that require [...]
Law school is stressful, and that’s by design: the rigors of earning your law degree are similar to the rigors you’ll endure as a budding legal professional, where only the strong survive. And although law school can be difficult, that doesn’t mean you have to become insane on the way to [...]
ABA Journal: Legal academics like to think their students are studying the law because they want to advance justice, right wrongs and serve the underprivileged. But most students are motivated at least partly—and often substantially—by the lure of money, according to a law dean who decided to evaluate whether law school makes economic sense.
ABA Journal: An ABA committee has completed work on its proposed plan to begin collecting more detailed job placement and salary information about recent graduates from ABA-accredited law schools.
The proposed changes, which have been recommended by the Questionnaire Committee of the Section of Legal Education and Admissions to the Bar, [...]
ABA Journal: Yale law professors Akhil Reed Amar and Ian Ayres are citing the example of an Internet shoe-selling company in an essay suggesting ways to discourage would-be law students who are unlikely to succeed after graduation.
Zappos offers $3,000 to new employees at the end of a four-week training course [...]
ABA Journal: An ABA committee is moving quickly on a proposed new accreditation standard that would greatly expand the amount of consumer information law schools must publicly disclose to prospective students.
The Standards Review Committee, which met last weekend in Chicago, is now putting the finishing touches on its proposed changes [...]
ABA Journal: Lawmakers who are gathering a “treasure trove” of data about law schools could use the information in congressional hearings, according to a published report.
According to the Wall Street Journal (sub. req.), an unnamed congressional staffer says senators are “strongly considering” hearings. “Congressional hearings, were they to happen, wouldn’t [...]
ABA Journal: Would-be law lawyers in Mississippi are bucking the trend and applying to law schools in about the same numbers as last year.
Nationwide, law school applications are down by about 10 percent, the Jackson Clarion Ledger reports, citing information from the Law School Admission Council. But law schools at [...]
ABA Journal: The University of Illinois acknowledged Monday that its law school reported and/or published inaccurate admissions data in six of the last 10 years.
The university, in a prepared statement (PDF), said it had determined that Paul Pless, the law school’s former assistant dean for admissions and financial aid, who [...]