With a return like this, I should've stayed away...
Monday, May 25, 2009
Does This Apply To Lawyers, Too?
I've returned! Today's article (click here) comes from the Chicago Tribune and comments on the effects layoffs have on people's earning power. To summarize (and with help from the Jack Nicholson-Helen Hunt romcom): your earning power before layoff is "As Good As It Gets." This got me to thinking-- what does this say about all the layoffs and salary slashes in the legal profession (particularly BigLaw & Associates)? What about the future of law schools and the graduation of some of us who are looking at about 6-figure debt before we even get our first doc review? And, to add another ingredient into the mix: what about the ramping up of 'legal outsourcing'? Could 2008-2009 be just the beginning to the "Great Levelling Off" of wages some economists have been predicting?