To be clear, not saying things should return to boom times, just that hopefully we'll see at least some improvement.

*desperately tries to justify applying to LS this fall*

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15973935)

partners getting richer than ever

associates competing more than ever to get jobs that pay less than ever for more work than ever

fewer and fewer partners

fewer and fewer BIGLAW associates

more and more unemployed/completely screwed-over JDs

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15973954)

this is not because they choose to do this but because there's simply not enuf work to go around

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15975018)

Any idiot can be a lawyer.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974224)

Eventually, when subspecialization reaches its peak, lawyer will be combined with Notary Public and Appliance salesperson, then ultimately cease to exist.

Also, travel by pneumatic tubes will be viable.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974540)

One lawyer, coming right up!

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974645)

Right now, there are three ways firms can cut costs on junior-level work: the second-tier associate track or the three-level comp + bonus structure, outsourcing and "operations centers" in low COL areas, and temp/contract attorneys. All three are being explored and expanded right now.

Right now, firms are using these cost-cutting measures to keep PPP up or keep the firm afloat. Either way, they're using these alternatives to high-priced juniors, and they're losing their stigma. When the economy picks up, partners are going to want to keep the resulting uptick in revenue in their pockets, not dish it out to more entry-level attorneys. Once they find they can make do with doc review from Bangalore, they're not going to go back.

Firms will need to take in juniors that will eventually be mid-levels and seniors (and maybe even partners, lol). Comp at elite firms will pick up, either in big bonuses or higher base, but there won't be the rush through the V50 to compete with the big NY firms like Skadden. Some of those firms will stick with the Cravath model of hiring 2Ls and letting half the class wash out in 2 years, but smaller classes at most firms are probably here to stay.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974618)

remember, one thing hiring a lot of people did was to ensure that bright people were working to make biglaw partners money instead of competing with them.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974704)

Clients are looking to trim legal costs in any way they can. This means both leaning on their inhouse attorneys more, and trimming their budgets for outside counsel.

The main advantages biglaw holds for large clients are being one-stop, full service firms and being able to throw bodies at a case or a deal.

Clients will expect inhouse counsels to shop around for the best rates, even if it means working with firms piecemeal. As the quality of offshore and onshore outsourcing increases, smaller firms will be able to utilize those resources to produce the same results as big firms at a lower cost.

This means that smaller firms will have more opportunities to take clients away from big firms. As clients have said, they don't mind paying for the $1,000/hr partner as much as the $350/hr junior.

Personally, I'm just hoping to hang on long enough in biglaw to make myself an attractive hire at a smaller firm or jump ship with a partner.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974803)

also, the quality of what we'll get from india remains to be seen. i am told that with tech, for example, they never became as good as US workers/companies.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974842)

First of all, we don't really know what's going to happen with India or China. Yes, a lot of the work there is pretty shitty right now and not up to biglaw client standards (though it's probably fine for legalzoom.com or whatever), but if the ABA opens up law schools there or they get some other kind of training program, those workers could do a lot of doc review level work.

Beyond that, I don't think offshore entities will be the major source of outsourced labor for firms. There are thousands of recent grads that can perform biglaw drone work. Some firms are already hiring them at barely above shitlaw rates to work in a warehouse somehere, like Orrick and their WV office. Someone will figure out they can hire a bunch of t50 grads with decent credentials and form an onshore company that firms can outsource work to. Really, bringing a team of outside attorneys up to speed on a project is no different that how juniors are staffed.

As far as smaller firms, a lot of clients don't want to or can't pay the rates big firms charge. I work in a smaller niche group with a lot of long-term clients. Looking at their bills, a lot of our clients receive permanent discounts on junior and midlevel work, just so the partners can keep them on. Those are the kinds of clients that a smaller firm could poach or a partner could take with him to his own firm.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974967)

EDIT: Yes, I know that I'm an unfunny faggot.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974751)

Maybe if they have some good air mile deals too first class will fare well, I dunno.

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15974843)

(http://www.autoadmit.com/thread.php?thread_id=1415369&forum_id=2#15975945)