The Mutually Shared Delusion

As I look back on my old posts here from 9 months ago, I can't help but blush a little. The excitement and optimism about the law and being a lawyer is just dripping from all the writing. It was a time of blissful ignorance and naivete. There was a feeling that everything was at my fingertips and I was seizing the day. Unfortunately, there was no day to be seized. I'm not sure that everyone, even some in the legal community, understand how times have changed. My corporations teacher starts nearly every sentence with "when you are a corporate lawyer." She gives us helpful hints and things to think about when we are in practice and working on putting together "big deals." If it wasn't so sad, it would be funny. No one in that room is going to be a corporate lawyer, working on big deals for multinational clients. At least not for the foreseeable future. They'll be lucky to find volunteer work with the City government this summer.

Despite this inconvenient truth, time marches on at NYLS. Everyone lives in a mutually shared delusion. The faculty and administration pretends they are preparing students for a legal career. The students pretend that they are preparing themselves for that legal career. On my more cynical days, I tend to think the powers that be at NYLS know how dire the situation is, but purposefully coordinate their activities so as to keep it a secret from the vast majority of students, who have not been exposed to the realities of the legal market in 2009. Other days I think they are just as blind as the poor students whose tuition money they take. Perhaps they are in denial of the fact that the school is simply not relevant and has nothing to offer students in this market.

That might seem a bit harsh. But consider this. My class at NYLS has 420 students in it. To finish in the top 10 people in a class that size I think everyone would acknowledge is quite a special accomplishment. Yet, of those ten people (of which I am one, and I know most of the other 9), 1 received a job offer for next summer from a big Manhattan law firm. If the school cannot secure jobs for the top ten people in its class, why does the school exist? It should probably just close up shop. Perhaps this a little unfair because from what I understand even schools like Harvard and Yale are having trouble placing their students this year. However, it is not an unreasonable or unjustified thought.

Maybe things will get better. Maybe they won't. The fact is that the legal profession has imploded and there is absolutely nothing that recent grads or those in law school now can do about it. The fast track to prosperity for those who worked hard and finished at the top of their law school class does not exist anymore. Even if you assume that things will eventually improve, everyone's career has been set back years in terms of money and work experience. Some people just laugh it off, put their blinders down and just keep plugging along. I am jealous of them. However, I wonder how much of that is just for show. I can't imagine there is anyone in my position right now who is not also having a crisis of confidence.

So pardon me if the glow of the first year of law school has worn off. I've been there and done that. I had the Kingsfield-like Contracts teacher. I got an A from him. I learned about mens rea, personal jurisdiction, proximate cause, and adverse possession. I got A's in all those classes too (well except Torts). It was the most exhilarating and rewarding 9 months of my life. When I received those grades, it was the greatest sense of pride and self-accomplishment that I have ever felt. But looking back now however many months later, was it all worth it? Did it really matter as much as I thought it did at the time? Did it matter as much as every single person I went to for advice in my life told me it mattered? The answer is a resounding and unequivocal "no". It's virtually meaningless. I'll have to prove myself again this year all over again and hope that maybe next year some employer with throw me a crumb. Right now, my 1L GPA of 3.75 and $2.25 will buy me a subway ride to Brooklyn.

But hey, I have to get to bed early now. I am required to attend a conference early tomorrow about the emergence of a new duty in corporate law that directors owe shareholders (known as the duty of good faith). I'm told that it will come in handy for me when I am a big corporate lawyer. And the delusional continues....