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Author Topic: 1 year since graduation = still no job  (Read 12976 times)

legalese_retard

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Re: 1 year since graduation = still no job
« Reply #20 on: December 11, 2008, 12:14:02 PM »
Thanks for the heads up on the state job, but competition is fierce even for those jobs. Plus, the State has a bias for in-state law students, especially people from the lower ranked Texas law schools who have a tougher time looking for a job. I did submit my applications for a couple of positions on there, but haven't heard a peep.

As far as being a solo or utilizing the solo option, I'm going to have to take a pass on that. Malpractice insurance alone prohibits me from even opening up a shop even if I wanted to (plus I'm sure I maxed out the amount of money a lender would be willing to give me on top of my law school loans). Another PR fact, over 70% of the lawyers who are suspended or disbarred are solos. Usually for failing to communicate effectively with clients or misapplication of client escrow accounts. Finally, of all the subjects I dealt with in law school, criminal law was my least favorite. I just don't feel comfortable representing a client straight out of law school who is facing jail time if I don't represent them effectively. Again, another quick way to lose my license before I even start utilizing it. 

Very, very understandable.  Fingers crossed for those state jobs.  I always thought Tulane was practically a Texas school -

I did want to ask you about malpractice insurance, though.  I've heard that malpractice insurance for newer grads in solo/small firms is often lower compared to more established attorneys at large firms because newer grads handle lower-value matters.  If you don't mind me asking, have you gotten quotes on insurance in Texas? I'm probably going to practice there, and I'm interested in what this would cost for a new attorney.

Nope, I haven't asked for a quote. I think it can go up to $10K/year, but you are right about newer solos having a reduced rate (for the first 3 years I think).

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Re: 1 year since graduation = still no job
« Reply #21 on: December 11, 2008, 03:09:54 PM »
Are you flame or do you just have a bad sense of entitlement?  You are spending your resources applying to PE jobs?  These jobs are extremely competitive even for a Harvard LR grad with 3 years at Cravath and finance experience.  I'm not trying to be an ass, but maybe you'd have a job if you spent time applying to jobs you are qualified for.
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax

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Re: 1 year since graduation = still no job
« Reply #22 on: December 11, 2008, 03:19:57 PM »
Are you flame or do you just have a bad sense of entitlement?  You are spending your resources applying to PE jobs?  These jobs are extremely competitive even for a Harvard LR grad with 3 years at Cravath and finance experience.  I'm not trying to be an ass, but maybe you'd have a job if you spent time applying to jobs you are qualified for.

What's PE?

Litigation boutiques do seem to be a little out of his league.  Has he sent his resume to Susman Godfrey yet?   ::)

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Re: 1 year since graduation = still no job
« Reply #23 on: December 11, 2008, 03:22:11 PM »
PE= Private Equity.  Think Blackrock, KKR, Bain Capital, CDR, Cereberus, Goldman's PE Arm etc.

Are you flame or do you just have a bad sense of entitlement?  You are spending your resources applying to PE jobs?  These jobs are extremely competitive even for a Harvard LR grad with 3 years at Cravath and finance experience.  I'm not trying to be an ass, but maybe you'd have a job if you spent time applying to jobs you are qualified for.

What's PE?

Litigation boutiques do seem to be a little out of his league.  Has he sent his resume to Susman Godfrey yet?   ::)
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax

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Re: 1 year since graduation = still no job
« Reply #24 on: December 11, 2008, 03:24:03 PM »
I used qualified for because he is talking about some of the hardest finance jobs to land.  If you can't answer their screening questions, you are not qualified to do the modeling and math you are required to do on the job.

Are you flame or do you just have a bad sense of entitlement?  You are spending your resources applying to PE jobs?  These jobs are extremely competitive even for a Harvard LR grad with 3 years at Cravath and finance experience.  I'm not trying to be an ass, but maybe you'd have a job if you spent time applying to jobs you are qualified for.

i wouldn't use "are qualified for".  i'd go with "are competitive for" instead.  actually i'd probably go with "for which you are competitive", but that's just me.
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax

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Re: 1 year since graduation = still no job
« Reply #25 on: December 11, 2008, 03:26:22 PM »
True there are less selective firms if you have the requisite background.  These firms actually require even more knowledge because they will throw you right into the fray. 

PE= Private Equity.  Think Blackrock, KKR, Bain Capital, CDR, Cereberus, Goldman's PE Arm etc.

to be fair, there are smaller, less selective PE firms out there.  but still.
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax

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Re: 1 year since graduation = still no job
« Reply #26 on: December 11, 2008, 03:32:32 PM »
Why would you want to make 60k in ID when you could make three times that in PE? ???

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Re: 1 year since graduation = still no job
« Reply #27 on: December 11, 2008, 03:34:26 PM »
PE associates are more like 300k + bonus + possibly interest depending on your package.  My point is 60k is better than Starbucks because a PE job is simply not going to happen.

Why would you want to make 60k in ID when you could make three times that in PE? ???
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax

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Re: 1 year since graduation = still no job
« Reply #28 on: December 11, 2008, 03:37:22 PM »
PE associates are more like 300k + bonus + possibly interest depending on your package.  My point is 60k is better than Starbucks because a PE job is simply not going to happen.

Why would you want to make 60k in ID when you could make three times that in PE? ???

Are you sure it's not the economy?  He probably doesn't want to get pigeonholed in insurance defense until more transactional stuff picks up.

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Re: 1 year since graduation = still no job
« Reply #29 on: December 11, 2008, 03:40:41 PM »
Has nothing to do with the economy.  Transitioning from law to PE was extremely tough even during the PE boom.  Pretty much a T10 school, plus a sufficient baseline of finance knowledge + experience at a top 10 firm + couple years experience doing fund formation/leveraged buyouts or something of the like at the firm.

Edit: I think you are confusing doing PE related transaction work with the finance side of PE.  Even if you wanted to go in house to a PE firm in their law department, you will need to do 2-3+ years of related work at a top firm.

PE associates are more like 300k + bonus + possibly interest depending on your package.  My point is 60k is better than Starbucks because a PE job is simply not going to happen.

Why would you want to make 60k in ID when you could make three times that in PE? ???

Are you sure it's not the economy?  He probably doesn't want to get pigeonholed in insurance defense until more transactional stuff picks up.
"This semester I will plunge you into the slough of despair, and when you are at your most desolate and are ready to give up, I will give you some light" - Professor Amy Wax