David Segal of the New York Times questions Is Law School a Losing Game
Apprentice Lawyer

David Segal of the New York Times questions Is Law School a Losing Game

Bar & Bench

Read this interesting read in the NY Times about how law school students end up with a $250,000 in loans completing their law degree and losing job prospects in America.

According to the news report 15,000 attorney and legal-staff jobs at large firms have vanished and corporations are careful of their legal expenses and want to outsource them to India. Here is an excerpt of the news report.

[]…generation of J.D.’s face the grimmest job market in decades. Since 2008, some 15,000 attorney and legal-staff jobs at large firms have vanished, according to a Northwestern Law study. Associates have been laid off, partners nudged out the door and recruitment programs have been scaled back or eliminated.

 

And with corporations scrutinizing their legal expenses as never before, more entry-level legal work is now outsourced to contract temporary employees, both in the United States and in countries like India. It’s common to hear lawyers fret about the sort of tectonic shift that crushed the domestic steel industry decades ago.

But improbably enough, law schools have concluded that life for newly minted grads is getting sweeter, at least by one crucial measure. In 1997, when U.S. News first published a statistic called “graduates known to be employed nine months after graduation,” law schools reported an average employment rate of 84 percent. In the most recent U.S. News rankings, 93 percent of grads were working — nearly a 10-point jump.

In the Wonderland of these statistics, a remarkable number of law school grads are not just busy — they are raking it in. Many schools, even those that have failed to break into the U.S. News top 40, state that the median starting salary of graduates in the private sector is $160,000. That seems highly unlikely, given that Harvard and Yale, at the top of the pile, list the exact same figure.

 

Bar and Bench - Indian Legal news
www.barandbench.com