In a recent interview on WNET’s Open Mind, New York Times journalist David Segal noted an alarming fact: Law firms just aren’t hiring as many new law school grads as they used to.
Not too far in the recent past, big law firms used to act almost as finishing schools for young lawyers. With law schools focusing heavily on the philosophical underpinnings of law, according to Segal, lawyers used to learn the fundamentals of practicing law in their first job with a law firm.
What has happened, according to Segal, is since the start of the recession, many of their clients have told law firms that they no longer want to see the names of first- and second-year associates on their bills … they no longer want to subsidize their education. As a result, many of these firms have eased off on hiring recent law school grads.
Law schools, however, are still pumping out graduates — about 45,000 per year, according to Segal. That makes for a large pool of young lawyers vying to fill a shrinking number of positions.
Many of those grads end up living with their parents and working in jobs far removed from their field just to be able to make payments on their student loans. And even those who do manage to get jobs in law, find that they are in jobs not paying what they anticipated — students who wanted to be prosecutors or work in the public interest end up slogging away in the legal department of a mid-sized company just to pay the bills. No chance to live out your Clarence Darrow dreams there.
Some of those newly minted lawyers are seeing the need for them to go solo, to open their own practice, but they are just not sure how to go about it.
For a young lawyer, setting out on your own can be intimidating. The average client is going to be hesitant to hire an attorney with relatively little experience. Beyond that, meeting prospective clients in the local Starbucks, the clients kitchen or even — gulp! — Mom and Dad’s living room doesn’t exactly project the kind of professional image you want to present.
In those cases, a professional office would be helpful, but the overhead involved in maintaining an office is prohibitive for someone just out of law school and trying to pay down a mountain of debt.
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