Monday, April 27, 2015
News Flash: the Lawyer Job Market is Still Glutted
Courtesy of the New York Times: On April 26, 2015, Elizabeth Olson’s piece, “Burdened With Debt, Law School Graduates Struggle in Job Market,” appeared in the New York Times, Dealbook section. Look at this killer opening:
“Jonathan Wang has not practiced law since he graduated from Columbia Law School in 2010, but he did not plan it that way.
When he entered law school, the economy was flourishing, and he had every reason to think that with a prestigious degree he was headed for a secure well-paying career. He convinced his parents, who work in Silicon Valley, that he had a plan. “I would spend three years at school in New York, then work for a big law firm and make $160,000 a year,” said Mr. Wang, 29. “And someday, I would become a partner and live the good life.”
Mr. Wang, who works in Manhattan as a tutor for the law school admissions exam, is living a life far different from the one he envisioned. And he is not alone. About 20 percent of law graduates from 2010 are working at jobs that do not require a law license, according to a new study, and only 40 percent are working in law firms, compared with 60 percent from the class a decade earlier. To pay the bills, the 2010 graduates have taken on a variety of jobs, some that do not require admission to the bar; others have struck out on their own with solo practices. Most of the graduates have substantial student debt.
Even as law school enrollment was peaking in 2010 — reaching 52,488, according to American Bar Association figures — those graduating were not receiving job offers from firms where they were interning. And offers to some students were rescinded.
“None of this was on my radar,” Mr. Wang said, “but it began to be obvious by the time second-year summer internships were over. We knew things were depressed, but then the legs were cut out from under us.”
After the economic collapse in the fall of 2008, corporations began to cut spending on legal matters, and law firms, in turn, began to reduce their hiring and even laid off employees. The legal profession was undergoing the early wave of turbulence that left graduates in subsequent classes facing a harsher job market that has shown few signs of a robust recovery. But the class of 2010 was the first to experience it full force.” [Emphasis mine]
Lemming, are you currently enrolled in the 4th best law school in the country? Do you believe that YOU – despite attending a garbage heap - will do better than this young graduate of Columbia Law $chool?!?! Are you going to somehow "work harder" than this man?
It is pretty clear that Mr. Wang is MUCH more intelligent than you, dumbass. He certainly has elite academic credentials. And look where he works now, moron. He teaches LSAT prep courses so that idiots can improve their chances at gaining admissions to an ABA-accredited dung heap of their choice.
This is Not a Trend: On January 10, 2014, Economic Modeling Specialists Intl. published a Joshua Wright piece labeled “The Oversaturated Job Market for Lawyers Continues, and On-The-Side Legal Work Grows.” Read the following portion, from that entry:
“In 2011, we wrote about the massive glut of new lawyers coming into the job market in a data spotlight that was mentioned by the New York Times and many other media outlets. In this post, we updated the supply-and-demand outlook for lawyers by state to see if the picture looks any better than it did a few years ago.
The answer: Not really. Hiring has mostly been stagnant coming out of the recession, and more than twice as many people graduated with law degrees in 2012 (46,565) as there are estimated job openings (21,640). But take away full-time, salaried positions and the real growth in the lawyer job market has come from those working on the side in part-time arrangements. It’s here where many of the job opportunities appear to be, which is hardly encouraging for newly minted lawyers deep in debt.” [Emphasis mine]
Yes, working part-time as a lawyer is going to help you repay your massive loans, right?!?! At this point, only “law professors” and administrators will argue that the attorney job market improving. Of course, the pieces of trash have NOTHING to back up their baseless assertions. Hell, the bitches and hags said that the employment prospects for JDs would improve in 2012 or 2013. Then again, they merely wanted to get more asses in seats – without regard to their students’ best interests. Yes, what beacons of integrity, huh?!?!
U.S. Department of Labor Data: Let’s take a brief look at the Occupational Outlook Handbook entry on lawyers, courtesy of the U.S. Bureau of Labor Statistics:
Employment of lawyers is projected to grow 10 percent from 2012 to 2022, about as fast as the average for all occupations. Competition for jobs should continue to be strong because more students graduate from law school each year than there are jobs available.” [Emphasis mine]
If you cannot understand that warning, then you should be declared a vegetable. Lab mice are more intelligent than you. Hell, at least they learn from their bad choices – and they aren’t drowning in a mountain of NON-DISCHARGEABLE debt!
Conclusion: Again, the job market for recent law grads is grim. This has been the case for several years now. The information has been readily available for quite some time. Simply put, this is not a secret. If you walk away from law school with $170K+ in student loans, that is because YOU failed to conduct any research into this serious financial decision. I wouldn’t trust you to competently represent a client on a standard rental contract, mental midget. As you can see, people with law degrees from Columbia, Georgetown, and other top schools/diploma mills are struggling to find legal work. If these men and women are in dire straits, what result awaits you, Stupid?!?!
Posted by Nando at 4:27 AM