Moving to the front from April 15; many readers will be interested in Professor Henderson's observations in the comment section, which were just posted today.
One need only look at this extraordinary list of leading law firms pushing back the start dates of their new associates to realize that the market model of the elite law firms is now in crisis. The question is what the future holds. A permanent contraction in the most lucrative sector of the private legal market is going to have effects on law schools, especially those just outside the most elite ranks, but also those within those ranks, which can expect declines in alumni support and a higher number of their graduates taking less lucrative jobs. I'm hoping Bill Henderson (Indiana) will weigh in on these developments, but I'm also interested in hearing from others. What does the future hold? Is there a silver lining to these developments (will, e.g., public sector jobs become more attractive to the best new law graduates as private sector jobs and salaries decline?). Comments are open; signed comments only. Post only once, comments may take awhile to appear.