America needs more lawyers like New Orleans needs more water and yet, year after year, law schools good and bad churn out more baby attorneys than the legal industry can digest. There is far more supply than demand and so a great many young lawyers find themselves struggling after spending, say $100,000 or so, on a law school education. By the way, nothing you learn in law school prepares you to take the bar exam and nothing you have to learn for the bar exam prepares you to practice law-- but that's another story.
Anyway, if you open up today's New York Times you'll read this. The going rate for first-year attorneys in New York City has risen to $145,000/year excluding bonuses. The firms say they need to offer that kind of lettuce to attract the best law school candidates but I am here to tell you that coming out of law school a student who earns $150,000/year is not necessarily twice as smart or creative or honorable as the law school student who can earn $75,000. It's madness and it impacts the attorneys' fees and costs and clients have to pay for the services. And, by the way, take a close look at that picture the Times offers to accompany the story. Don't you just want to throttle those smarmy kids?
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