GMU "law prof" deliberately distorts NALP bimodal salary graph
 http://thirdtierreality.blogspot.co
m/
http://volokh.com/2 | Nando | 07/29/10 |
Nando (Jul 29 - 10:03 am)
http://thirdtierreality.blogspot.com/
http://volokh.com/2010/07/25/the-bimodal-distribution-of-lawyer-pay/
"Here is Ilya’s weak-ass analysis of bimodal distribution of lawyer pay:
“The relevant time horizon for lawyers, however, is the entire 30 to 40 year period of their expected career. On that score, it is difficult to make any precise forecasts. Still, the continued growth in the scope and complexity of law suggest that the demand for legal services is likely to rise. The demand for lawyers is inevitably closely tied to the growth of government and law.
Furthermore, the NALP data for the class of 2009 show that the median graduate has a salary of about $72,000; in other words, 50% of first year lawyers can expect to make that much or more. Even if you adjust the figure downward a little to reflect reporting rates skewed in favor of large firms, you still get a level of perhaps $65,000 based on the formula that NALP used to recalculate the mean salary (reducing the initial estimate by about 9%). That’s not bad for an entry level salary in the middle of a deep recession.”
Ilya, what about the tons of attorneys who never have the chance to practice law? Also, if law were such a great profession, why aren’t YOU out there putting your skills to use?!?! Instead, you teach “legal theory.” Don’t forget the number of lawyers who willingly leave the industry before the 5-10 year mark. What about the fact that the law school Class of 2009 had 44,000 members – competing for 28,901 jobs requiring bar passage? Apparently, Ilya is also not familiar with legal outsourcing. AND DON'T FORGET THE IMMEN$E DEBT LOAD TAKEN ON BY THE MAJORITY OF LAW STUDENTS, IN THIS COUNTRY.
Reply
Post a message in this threadhttp://thirdtierreality.blogspot.com/
http://volokh.com/2010/07/25/the-bimodal-distribution-of-lawyer-pay/
"Here is Ilya’s weak-ass analysis of bimodal distribution of lawyer pay:
“The relevant time horizon for lawyers, however, is the entire 30 to 40 year period of their expected career. On that score, it is difficult to make any precise forecasts. Still, the continued growth in the scope and complexity of law suggest that the demand for legal services is likely to rise. The demand for lawyers is inevitably closely tied to the growth of government and law.
Furthermore, the NALP data for the class of 2009 show that the median graduate has a salary of about $72,000; in other words, 50% of first year lawyers can expect to make that much or more. Even if you adjust the figure downward a little to reflect reporting rates skewed in favor of large firms, you still get a level of perhaps $65,000 based on the formula that NALP used to recalculate the mean salary (reducing the initial estimate by about 9%). That’s not bad for an entry level salary in the middle of a deep recession.”
Ilya, what about the tons of attorneys who never have the chance to practice law? Also, if law were such a great profession, why aren’t YOU out there putting your skills to use?!?! Instead, you teach “legal theory.” Don’t forget the number of lawyers who willingly leave the industry before the 5-10 year mark. What about the fact that the law school Class of 2009 had 44,000 members – competing for 28,901 jobs requiring bar passage? Apparently, Ilya is also not familiar with legal outsourcing. AND DON'T FORGET THE IMMEN$E DEBT LOAD TAKEN ON BY THE MAJORITY OF LAW STUDENTS, IN THIS COUNTRY.
Reply