Law Students

New Study Reveals 2010 as Legal Market Turning Point
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

class of 2010 the turning point in legal industry

Summary: A new study notes that the class of 2010 marked the turning point in the legal market.

We all know by now that the legal market is difficult, that JDs are straddled with debt, that prospects are poor, that making it as a lawyer is harder than ever. That’s old news. But when did the trend start? Well, the 2008 recession marked the turning point of course. That’s when things tanked.

  
What
Where


But it was the class of 2010 that first really felt this, and a new study has documented that only 40 percent of that class is working in law firms, as compared to 60 percent a decade earlier.

More discouraging but enlightening stats from this study note that 20 percent of 2010’s graduates are working in jobs that require no law license at all. And most of them are burdened by law school debts.

The class of 2010 was an especially poignant class to receive this sad wakeup call: enrollment was peaking at 52,488, right when 2008’s reality was coming home. Firms were ceasing to hire new grads and were even laying off employees. That means that the class of 2010 was competing with experienced lawyers for jobs.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




“It was a double whammy. Our class was also competing with third- and fourth-year associates who had been laid off,” noted one student.

Thus a lot of lawyers have turned to other means of work for paying off debts. 85 percent of them owe an average of $77,364 in debt for those who went to public law schools and $112,007 in debt for those who went to private schools. Many have gone into private practice, worked for the government, or found alternative forms of employment. 010 marked a turning point, when the weight of 2008’s change was finally felt, confronting the largest graduating class seen in decades. After this, the industry sobered up.





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

General Municipal Law Attorney with land use experience

USA-CA-Oakland

Oakland office of our client seeks general municipal law attorney with experience advising public ag...

Apply Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Immigration Attorney with portable business

USA-VA-McLean

McLean office is seeking an immigration attorney with $500,000+ in portable business.

Apply Now

Litigation Attorney with 5-7 years of civil tort experience

USA-TX-Dallas

Dallas office of our client seeks litigation attorney with 5-7 years of civil tort experience, inclu...

Apply Now

RELEVANT JOBS

Experienced Insurance Defense Attorney Needed

USA-NY-Bohemia

Insurance Defense firm (with 15 attorneys in Suffolk and Mineola location), seeks attorneys with 5+ ...

Apply now

Corporate / Commercial Attorney | Lebanon, NH

USA-NH-Lebanon

Downs Rachlin Martin PLLC seeks an experienced corporate / commercial attorney to join its Lebanon o...

Apply now

Business Law Junior Associate | Burlington, VT

USA-VT-Burlington

Downs Rachlin Martin seeks associate attorney with 1-3 years of experience to join its Commercial an...

Apply now

Business Law Associate | Burlington

USA-VT-Burlington

Downs Rachlin Martin is seeking an attorney with 4 to 8 years of experience to join its very busy pr...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top