Wednesday, March 16, 2011

US News and World Report Torn Between Shilling and Journalism

I get that US News and World Report has little actual news or commentary to offer aside from being known as the publication that helps market colleges by ranking them, but at least they could have a consistent editorial view.

For example, this article describes how law schools are adjusting to a "suddenly dog-eat-dog job market" (Really, David van Zandt? "Suddenly?") and a changing BigLaw model.
Starting salaries are flat or down, too, according to NALP—the Association for Legal Career Professionals in Washington, D.C. The median starting pay at firms with more than 700 lawyers in New York and Los Angeles was still $160,000 in 2010, but markets like Boston and San Francisco dropped from that level back to $145,000. Overall, the median starting salary at private firms dropped to $115,000 last year from $130,000 in 2009.

Belt-tightening at larger firms has had a ripple effect, pushing grads to pursue government and nonprofit jobs they previously wouldn't have considered. "I feel that I'm competing with everybody, for every job I've applied for," says Jeremy Wolff, 31, a 2010 graduate of Northeastern University School of Law in Boston who left a technology career to focus on civil rights or social justice work. He currently is working as a research consultant with a team of professors from his law school, covering his living expenses but not providing enough to begin paying down his six-figure debt. "If I knew then what I know now, I would emphatically not go to law school," he says. "I think the legal job market has fundamentally changed."

Okay, so overall, nationwide, starting salaries at private firms have dropped 11.5% in two years. That's big, as is the fact that the graduates now denied BigLaw compete with other graduates for all those other jobs, like whatever work there is at the DA's office, MidLaw, or legal aid foundations. That trajectory should be a priority concern for anyone contemplating applying for law school now.

Now let's head to US News and World Report's Law Schools: Tips and Stats:

First year associates at large private law firms can expect to make $160,000 in metropolitan markets including New York, Chicago, and Washington, D.C., according to the Association for Legal Career Professionals, known as NALP, in its 2010 Associate Salary Survey. In other markets, such as Boston and San Francisco, salaries can range from $110,000 to $160,000, with a median of $145,000.
First of all what a "large private law firm" is to a prospective law student is probably different than what a "large private law firm" is to the NALP. And wouldn't it be responsible to mention that the $145,000 is a falling median? And isn't it irresponsible to suggest applicants now - i.e., job seekers in 2014 - "can expect" to make $160,000 when salaries have fallen in other markets?

And overall, the "article" seems to be a blatant advertisement for going to law schools, e.g.:

If you are set on a career in public interest law, don't let finances stop you.
You mean like the "finances" that there's very little actual work in public interest law?
Intellectual property and energy law continue to be lucrative—and competitive—specialities [sic].
If it's competitive, it's likely not going to be lucrative in the future. See the other article your same news organization put out the exact same day.

My big question to US News is this: Why did the first article I cite espouse a view that there has been a fundamental change in the job market, while the second article sold law school on the premise that the job market is pretty much moving right along, i.e., getting back to the pre-recession normal? ("many partners at large law firms agree that the market has nearly stabilized.")

All these articles seem to show is US News' apparent hypocrisy. On one hand, it feels beholden to its journalistic routes, finding it necessary to report truth and - gee whiz - cite its sources. On the other, it realizes its existence is dependent on the college industry continuing to sell the idea of education as the path to a dream job. To hell with journalistic integrity (Who at the "large law firms" are agreeing with this? Who knows! Just say "Many").

I appreciate their attempt at journalism. The first piece is insightful and should be required reading for those contemplating attendance. But it's hard to take that piece seriously when the same organization trumpets law school as the land of public interest saviors and $160,000 salaries as if it were reading from a admission's department brochure.

2 comments:

  1. Look at how Brian Leiter BITCH-SLAPS Bob Morse:

    "When the new rankings come out this week, may I suggest that you not post the overall ranking. You all know the overall rank assigned to a school by U.S. News is meaningless, often perniciously so. It combines too many factors, in an inexplicable formula, and much of the underlying data isn't reliable, and some of it (e.g., expenditures on secretarial salaries and electriciy) isn't even relevant. You all know this. So don't report it. The fact that this garbage appears in what used to be a major 'news' magazine doesn't change the fact that it is garbage."

    This is coming from law professor Brian Leiter. (Yes, Leiter has a rankings scheme - but he still dropped the hammer on Morse's miniscule nuts.)

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  2. http://leiterlawschool.typepad.com/leiter/2011/03/an-open-letter.html

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