Overview of the Job Market for Law School Students and Laterals in 2003

Summary

The job market in 2003 is expected to remain stagnant with few new positions available to job seekers. However, those who are learning new skills and honing their existing ones are likely to have better job opportunities. Keeping this in mind, job seekers are encouraged to focus on developing essential skills and build up their expertise in order to stay competitive in the job market.


In addition to the increasing importance of skills, employers are becoming more interested in seeking candidates who can demonstrate an understanding of technology and its impact on business. Employers are looking for candidates with a background in technology, as well as those who have general business knowledge. Those who can show an understanding of business trends, fiscal responsibility, and marketing strategies are highly sought-after by employers.

The job market remains challenging, but those who are willing to pursue training or education for technical or business roles are likely to succeed. Skills training is important in other areas of the job market as well. Employers are always seeking employees with specialized skills in areas such as accounting, finance, law, healthcare, engineering, and computer programming.

In order to remain competitive, job seekers must be prepared to demonstrate their knowledge and abilities to employers. It's important to highlight any skills and experience you have even those which are not directly related to the position or field you are seeking employment in.

In conclusion, the 2003 job market is expected to remain static and job seekers need to sharpen their skills in order to stand out from the crowd. Those with technology and business backgrounds are likely to have more job opportunities. It's important to remain up-to-date on new trends and hone existing skills in order to get a job. Additionally, having specialized skills in areas such as accounting, finance, law, healthcare, engineering, and computer programming is likely to make you a more attractive candidate. It's important to demonstrate your knowledge and abilities in order to make a lasting impression on employers.

QUESTIONS ANSWERED IN THIS ARTICLE

 

How was the job market for law students in 2003?

The consensus among hiring partners, law school career-placement professionals, and other recruiting experts are that the job market for law students in 2003 should be no worse than last year's market and perhaps a bit better.
 

How can law students stand out during the recruitment season?

To stand out during the recruitment season, law students should aim to get the best grades possible, and laterals should try to add a breakout achievement to their resumé.
 

Is there any demand for laterals in the job market?

Yes, some demand for laterals in areas such as bankruptcy and litigation tends to thrive in unsettled economic times.
 

Did the number of job offers to 2Ls who got call-back interviews fell in 2001?

According to NALP, the number of job offers made to 2Ls who got call-back interviews fell from 63 percent in 2000 to 51 percent in 2001.
 

What are the benefits of working in a still-recovering job market?

Working in a still-recovering job market allows people to add breakout achievements to their resumé and remind themselves that even though soft job markets come and go, the sun will eventually shine again.

Ah, autumn. Turning leaves, crisp nights, turtleneck sweaters. And for 2Ls returning to law school, the perennial question of questions: How's the job market?

The short answer is, so-so. The consensus among hiring partners, law school career-placement professionals, and other recruiting experts interviewed by Jungle is that after a lousy hiring market last year, the demand for new attorneys is improving. Don't get too excited: The boom is far from back. But hiring for 2003, the experts say, should be no worse than last year, and perhaps a bit better. Call the forecast cloudy but clearing.

Hiring partners like Eric Goldstein of the New York office of Paul, Weiss, Rifkind, Wharton & Garrison say they plan to bring aboard more or less the same number of lawyers they took on last year. While recruiting remains depressed in markets that depend heavily on industries like technology, says Goldstein, "people should be relatively upbeat about their chances in major markets like New York where the base of work is broad."

Law school career-services professionals report that interview schedules seem to be holding steady at last year's levels. "So far, firm registrations for the fall are the same," says University of Chicago Law School assistant dean for career services Diane Downs. And signs are encouraging for 3Ls hoping to land permanent offers from the firms they summered at. Says Paula Patton, the executive director of the National Association for Law Placement (NALP): "Firms seem to be saying 'Steady as she goes.'"

Last year, law firm hiring took a nosedive (the number of job offers made to 2Ls who got call-back interviews fell from 63 percent in 2000 to 51 percent in 2001, according to NALP), and many experts feared this year's recruiting season would bring another big drop. So far, that doesn't appear to be the case.

Why the resiliency? The 2002 economy has been far from great but it hasn't been awful, either. "And after last year's big cuts," adds NALP's Patton, firms just don't need to cut a lot more."

What about the lateral market? Firm-to-firm hiring is generally holding steady, and demand for laterals in areas that thrive in unsettled economic times, including bankruptcy and litigation, is growing.

To land a job in a still-recovering market, you'll have to bring your A-game, recruiters say. If you're a student, buckle down and earn the best grades you can. If you're a lateral, try to add a breakout achievement to your resumé.

Finally, remember that soft job markets come and go. Sooner or later, as any veteran lawyer will tell you, the sun will shine again.

This article originally appeared in the September/October 2002 issue of JD Jungle.