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Is There Less Demand for Young Lawyers?

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  • Description

    Attorney Arthur Aidala on the recent dip in law-school applications.

  • Duration 5:33
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This transcript is automatically generated

All lawyer is -- -- it if it.

This is not hopeful wishful thinking all -- as a dying breed.

One of the top law schools in the country Northwestern University will reduce the size of its incoming class by about 10%.

They sought declining applications and a shake out in the market the legal jobs are good are as -- now he is a criminal defense attorney handsome standing.

And he is of some stick in and -- -- US this trip has my mom illustrates Erica yeah.

Look at why is that why are they reducing their -- -- Well there are citing also a lack of applications.

But it's also these law schools and this is -- top ten and fifteen -- -- They used to be able placed 100%.

Of graduates.

In top wolf firms -- the kids -- yes they were paying.

All 150000 dollars and tour without walls -- a law school education but their first -- -- -- gonna make a 170 by the 200000 dollars as a rookie and working 24/7.

But that they knew they were gonna get it back you know is -- these big portion that they can't even if they can't find any job.

And that goes from the top law schools all the way to the bottle so.

Not enough jobs.

I'm not enough high paid jobs to justify the 10200000.

Dollars you've spent on law school.

Is a function of the economy -- -- -- absolutely what what look.

Coca-Cola.

When they still that's just a little bit.

That's senior partner was gonna retire at 56 of 58 and -- senior status within the law firm.

And then you need someone to fill up now they don't want to 616364.

So the bottom.

That did -- did the need need isn't there anymore and basically of the younger people aren't advancing.

As fast as they used to because he's got these huge mergers and acquisitions that we need fifty Lloyds to escape send them -- -- Schwarz -- cut this deal.

That's obviously everybody knows of the last -- eight years has slowed down dramatically.

Now you're saying that that we've had these dips the lawyers before but they always bounced.

Back again yeah I want -- on the earlier.

In 190 my graduate college -- starting law school.

My elitist friends like these guys from England.

They would ask me what I'm doing -- what do you wanna do when you graduate most realize that I wanna be at a prosecutor.

Which -- making 29000 dollars a year even in nineteen that you do that was not a lot of money.

And they and in three years before it ninety prospered and -- -- -- but in 92 the economy was -- was dreadful.

I went into the district attorney's office thrilled making between 9000 of the yet another B was sitting home watching soap operas eventually as -- we know we recovered.

And we've got in that direction but law school now -- has become like.

A post graduate degree yes if your political science major or even a business major.

And -- you know on other -- -- -- and saturated I.

Don't think you're gonna bounce back as easily -- quickly as you did before.

Because you go to law school one of these top ten top fifteen schools you're gonna commit bought -- 10200000.

Dollars to educational legal education -- -- overall trend it's 50000 all the -- -- by -- you've got a lot of debt -- hands correct and if they're not the jobs now that to pay back that huge debt you don't go to law school in the post what you someplace on the -- and -- -- get a get a bounce back.

I agree and but.

What the economy has shown in the job market is shown over the last ten years.

You don't have to be a lawyer and big money anymore I mean there's so many opportunities.

In business in that the computer world detective technological world.

That you -- was it like.

-- was -- was like an automatic way to make money it's not what it is far from Mortimer.

Many of our -- -- executives now have law backgrounds I'm just wondering where there.

You know where this all encompassing a legal job I know -- not.

Gonna like do you this and stewards definitely not gonna like -- you this but there is training did you get that basin that four year experienced that teaches.

They teach you how to be analytical that teaches you.

Certain things that you just don't learn concepts with the migrated the numbers Baghdad and -- your show you -- your name bug it's a -- a year ago.

What good name is -- like Miami and.

Full agreement with you.

A legal education is a terrific education it teaches you to be analytical and objective.

And to make your argument short -- -- to the point defend -- position I think it's a terrific education.

Probably better than economics website so everywhere you expecting so we're full risk strange wolf detracts.

It's really actually practice the -- it's big.

If that way the American legal system has been to give me the use of the wood -- Because I don't regard -- is basically on my side I don't think they off I think they're trying to get me get my money and to put me in a ball.

Well that said I mean -- I'm being very forthright I mean that's very -- I don't practice -- that -- I think all of my clients think that I believe them when you're availability of defense -- I don't know I don't know there's a few that I -- people grew up profits trial -- that takes drug companies and impatient to -- to the courts and -- -- -- medical expenses that's what fronts while frivolous lawsuits I think you need to be penalized with a big -- thinking English rule -- elucidate me I I don't necessarily -- I don't necessarily disagree a dollar a full time -- that's pretty got -- particular much in the athletic budget.

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