A few months ago I wrote rather flippantly about the upcoming recession. No big deal, I said. Sure, most of the economy is tanking, but law jobs will still be there. Mid-size firms will figure more prominently into law school recruiting, a few people more people will have to resign themselves to practicing bankruptcy law, but everything will be okay.
In hindsight, I may have been a bit hasty.
Big firms have gone under, mid-size firms
have been laying people off, and even small firms are having trouble. Jobs are scarce, no-offers are common, and
offers already given are being rescinded.
Obviously, I’m no economist.
Although a couple of my predictions were a little off, my overall confidence was clearly justified. I mean, sure, the legal market is tough right now. But even if you can’t get a job as an attorney there are hundreds of things you can do with a law degree, right? All those career advisers and opinionated old people who told you how valuable a law degree could be outside of the law can’t have been wrong.
Actually, according to an article in the National Law Journal, they may have been. Lawyers applying for non-legal jobs are finding themselves “priced out, overqualified and undervalued.”
The gist of the article is that going to law school gives you certain credentials that aren’t valuable for anything but practicing law. Further, in job markets that are already tough, it is likely that the relevant skills and experience many of your competitors may have will trump your law degree.
If, like me, you’ve always been a little skeptical about the versatility of your degree, a quick look at your resume will likely confirm your suspicions. You figure prospective employers will value your law degree to some extent. But will they care about your work on law review? Will they appreciate your Moot Court involvement? Will they value that document review experience you got during your 2L summer?
The answer is probably not.
So, while your degree certainly says something about the characteristics and abilities you possess, it seems that law graduates looking for non-legal jobs are heading back into the regular job market with essentially the same prospects they had before law school.
I know I should stop making predictions, but I’m starting to think that current 3Ls looking to escape this year’s slumping legal market are going to be in for yet another rude awakening.
Been looking for a job after running my own litigation practice for six years. Had prior business experience in Financial Services - Stock Broker; Financial Analyst. Can't even get interview with bank or financial services company unless its a commission sales job.! So glad I invested my life in this profession... not!!!
Posted by: Keith Santillo | December 10, 2008 at 02:59 PM