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Jan
16
Hard economic times are slamming the legal industry, as seen by continual bad news facing Big Law firms on the coasts and in Chicago. Even Indianapolis law firms are merging with other firms to harden their defenses against a recession in the legal industry.
Evidence that things are bad came in a satirical attorney position job post on Craiglist that actually generated serious responses, according to Above the Law.
Associate Attorney (Midtown West)
Reply to: job-991754136@craigslist.org [?]
Date: 2009-01-13, 5:41PM ESTFast-paced 20-attorney law firm looking for an eager associate to join our growing practice. We understand that you may be a newly-admitted attorney looking for their first job. We also know that the economy is harsh right now. However, we are willing to give you a chance. Here are the details of this spectacular opportunity:
* Your salary will be $30,000 per year. We understand that this may be on the low end(since you probably are six figures in debt), but we will be able to give you unlimited opportunities for experience and you’ll be making six-figures soon enough. On the other hand, we will bill our clients $300 for every hour of your work; at least you will know your work is valued by us in several ways. …
Above the Law blog writes that the funny lawyer job ad makes them sad.
It is sad, but it is close to reality for new attorneys who don’t have top tier pedigrees looking for their first jobs out of school.
And, it won’t matter to a boss that you have $120K in non-dischargeable student loans that will need to be paid because if you don’t want the job, there is always someone else who will be glad to be able take it. Every year, law schools crank out a new crop of hungry attorneys.
IN.gov’s website shows this harsh reality in the 2007 stats showing lawyers in the Anderson, Indiana MSA had a median income of about $42K. Michigan City’s MSA and Muncie’s weren’t that much higher with $64K/year and $58K/year in 2007, respectively. The MSAs for Gary, Cincinnati and Indianapolis show higher median salaries, but there are some heavy hitters in these areas who earn a lot and raise the averages for all.
It’s depressing, but true.
If you’re thinking of going back to school, look for courses in the medical profession to guarantee a nice return on educational investment, unless medicine is nationalized and salaries are capped.
Comments
3 Responses to “Craigslist Ad Illustrates Legal Recession”
Chris,
We thought it was depressing what David’s employer billed him out at (as an IT consultant)compared to his salary! Looking at those numbers I’m glad he chose the career path he did!
So far his company has weathered the financial crisis…there still seems to be clients who need work done. I hear of people all around us getting laid off. There is not a day that goes by that I am not grateful for his job and that they continue to have work to do!
Thank you for reminding me to BE grateful!
Traci
Traci Bests last blog post..Homeschool Curriculum Review
Hi Traci,
I think that’s always the case when you’re working for someone. They have to make some money, so you’ll probably earn about 1/3 of what you are earning for the company. It makes sense because they need to pay for their overhead.
Oh, I know.
I’m not complaining. The company has treated us well over the last four years. We had given some thought to David going independent…there are so many jobs out there in his field. He would like to pick and choose his clients…But then the bottom fell out of the economy last fall and we decided that maybe we should wait a little while. Or a long while. LOL. There is something to be said for even a sliver of security.
Traci Bests last blog post..Homeschool Curriculum Review