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Some food for thought for all those 0Ls out there

nealric

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Some food for thought for all those 0Ls out there
« on: February 13, 2009, 08:51:30 AM »
http://www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202428236375


0Ls may be graduating into a very different market in 2012

Re: Some food for thought for all those 0Ls out there
« Reply #1 on: February 13, 2009, 11:01:16 AM »
I think I'd be able to get by on only 100K/year starting out.

nealric

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Re: Some food for thought for all those 0Ls out there
« Reply #2 on: February 13, 2009, 11:25:01 AM »
I would be more than happy with 100k starting out if it meant 1500 billable hours and low attrition. Unfortunately, I don't think that's where things are headed.

In any event, with loans, 100k (especially in NYC) isn't all that much money. Consider you would net about 65k after taxes. Pay off 30k loans/yr and you have 35k to live on. It's not like those are starving wages, but they are not high on the hog wages either.

CTL

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Re: Some food for thought for all those 0Ls out there
« Reply #3 on: February 13, 2009, 12:12:13 PM »
Well...at least I can take some comfort in the fact that consensus on these issues has not been reached.  We honestly don't know what we'll be dealing with in a year, let alone three.

Re: Some food for thought for all those 0Ls out there
« Reply #4 on: February 13, 2009, 12:39:29 PM »
Let me put it this way, I am absolutely certain that I'll be able to make more money AFTER law school than I can now. My job options were very limited when I got my current job. If I get a crap job as a lawyer, at least it's still a job as a lawyer. That's way better than a crap job as someone's assistant.

nealric

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Re: Some food for thought for all those 0Ls out there
« Reply #5 on: February 13, 2009, 12:40:55 PM »
Don't get me wrong. I'm not saying don't go to law school and I'm certainly not trying to reignite tired debates about school rank. Not entirely sure I think the article is spot-on- but it raises interesting points nonetheless.

Re: Some food for thought for all those 0Ls out there
« Reply #6 on: February 13, 2009, 01:04:03 PM »
one side note, Lionel Hutz is the man.

Re: Some food for thought for all those 0Ls out there
« Reply #7 on: February 13, 2009, 05:45:58 PM »
Let me put it this way, I am absolutely certain that I'll be able to make more money AFTER law school than I can now. My job options were very limited when I got my current job. If I get a crap job as a lawyer, at least it's still a job as a lawyer. That's way better than a crap job as someone's assistant.

This is so true.  Prospects are slim coming out of undergrad, even with a good resume.  I feel there is more long-term security in the JD.

Re: Some food for thought for all those 0Ls out there
« Reply #8 on: February 13, 2009, 10:27:33 PM »
I don't want to re-ignite old discussions, either, but I feel like this solidies the need to go to a top law school.  Firms didn't always recruit from non-T14 schools, and chances are they might go back to that model. 

Re: Some food for thought for all those 0Ls out there
« Reply #9 on: February 14, 2009, 08:45:46 AM »
This is already starting to happen if you check out summer classes.  Next year it is more likely that a lot of firms won't even go to certain schools than cut back on hiring from the T10.

I don't want to re-ignite old discussions, either, but I feel like this solidies the need to go to a top law school.  Firms didn't always recruit from non-T14 schools, and chances are they might go back to that model.