In today’sWall Street Journal,Carl Bialik’s article “Job Prospects for Law Grads? The Jury’s Still Out” appeared with the observation that:
Last year’s report, the latest available, shows that 87.6% of 2010 graduates who responded to the surveys were employed as of Feb. 15, 2011—the lowest rate for the previous year’s graduates since 1996. Meanwhile, just 68.4% of graduates who responded were in jobs that required passage of bar exams. And those respondents who reported their salaries represented just half of all employed graduates.
The legal service economy has changed forever. We are not graduating too many lawyers, we simply are still trying to shove them all into old-fashioned law practices. While there will continue to be a need for large, multi-state and multi-national “mega firms” with floors and floors of lawyers able to tackle the most complex transactions and law suits, for the average individual client–the people who make up the vast majority of the client base for the vast majority of lawyers–the legal system is out of touch.
There are ways to bridge the chasm between the huge number of individuals who can afford to pay for legal services and the huge number of lawyers who would like to make more money as their lawyers. My book walks you through these options, including how to protect yourself and implement innovative procedures within the professional responsibility boundaries. Look at the sidebar for information on how you can obtain this “practice-changing” how-to guide that is a condensed resource with practical ideas, checklists and forms.