Showing posts with label My First Tier School was not worth it. Show all posts
Showing posts with label My First Tier School was not worth it. Show all posts

Wednesday, June 16, 2010

Prof. Tamanaha and My Place in the Higher Education Scam Movement

Much has been said throughout the law blogosphere about Professor Brian Tamanaha's thoughts on the law school model and the "vulgar" law scam bloggers. I recommend taking the time to read all of the responses from Jobless Juris Doctor, Exposing the Law School Scam, Outside Lies Magic, and Shilling Me Softly under our blogroll. I especially recommend reading Jobless Juris Doctor's very powerful post, "Student's Pay So Professors Can Play", in response to Professor Tamanaha's admission that he is perfectly fine earning as much as he can with lots of time for research and conferences, even if those costs come from charging students with little job prospects hundreds of thousands of dollars. No mention of actual teaching said students, but never mind that. We all know a passion for teaching is not the main reason why law professors do what they do.

In doing so, Tamanaha recognizes himself and his colleagues on the side of the ruling class who have little to no concern about the masses that struggle to survive in order to make sure that they remain well fed. These accommodationists know they are part of an unjust system and, to his credit, Tamanaha is the first to acknowledge his role in it. The condescension dripping from his admission came at no surprise. This feeling is common for the elites when they are forced to admit that their riches come at the expense of destroying (or being part of a system that destroys) thousands of lives, both literally and figuratively.

Like the BP executives and their chairman who "wants his life back", they care enough about the "small people" to acknowledge that we exist, that they make lots and lots of money off of our existence, but that our lives aren't important enough for them to make any significant changes that could jeopardize putting even a dent into their wealth and fine living. Do I expect much to come from Tamanaha's admission? Not really. But it's a step in the right direction if we get more of the "serious people" talking about the problem, if only to give our blogs more traffic and make more people aware that we exist as a source of support and awareness for prospective law school students as well as unemployed graduates and attorneys.

This is why Angel and I continue BIDER. We aren't "vulgar" and we aren't "angry, unemployed graduates and bloggers trying to write their way out of debtor’s prison". Elie Mystal of all people should know this. He wrote a post in January admitting that he graduated from Harvard Law School with $150k in student debt:

I graduated law school in 2003, owing Harvard University just under $150,000. At the time, I had no idea what starting my professional career $150K in the hole would do to my life. I figured I’d work hard, make money, and pay my loans out of my general non-disposable income funds — kind of like my cable bill.

Seven years, two careers, numerous deferments and defaults, and one global economic meltdown later, I still owe a ton of money. Now, however, I pay it to various debt collection agencies and lawyers. When prospective landlords run a pro forma credit check on my application, they come back looking at me like I’ve been convicted of multiple war crimes. Every raise I’ll ever get will be eaten up by the collection agencies until sweet death allows me one everlasting and satisfying default. And, oh yeah, I don’t even want to practice law anymore — I quit my Biglaw job because, despite the debt, I really wanted to have a job that I enjoyed. So I essentially purchased a $150,000 disposable good. My time working in Biglaw was kind of like a very expensive vacation that I debt financed.

I mention all this because I am the cautionary tale prospective law students never want to think about. I mention all this because it is noble to crush false hope. I mention all this because there are way too many people poised to follow in my financially ruinous steps.

And isn't that what the scam bloggers have been doing all along for little or no compensation? Warning people each and everyday that law school and taking out $100K+ in student loans is a really bad idea, especially in a jobless era? So, it's only cool to leave the law profession entirely with $150k in debt if you attended a top law school. But if a similar fate befalls others, either willingly or unwillingly, we are angry bloggers trying to write our way out of debtor's prison? Sure, whatever.

Here is a little recap. Our regular readers know that I attended a T14 law school and Angel attended a top 30 law school. We have both interned or worked at NYC law firms. Angel was laid off from Biglaw. Maybe I wasn't smart enough to decide against law school, but I was smart enough to have most of my college education paid for with scholarships and financial aid. I owe less than $50k in private loans with low interest rates. I have been underemployed for most of 2009 and 2010 and have a non-law related, full-time job offer that starts in several months. Plenty of my friends and classmates from law school who graduated from both the bottom and top of their class are unemployed. In the end, it didn't matter that they went to Harvard undergrad or graduated magna cum laude from a prestigious T14, because they are still in the same horrible position as the rest of us. Go figure.

So sorry to disappoint the law school cartel and ATL who like to generalize all of the scam bloggers as bitter TTT losers, but a lot of us are quite accomplished, at least on paper. Which goes to show our readers that unemployment, underemployment, and life destroying debt can happen to anyone regardless of law school rank. Debt is debt regardless of who you are or where you went to school. It doesn't matter if you go to Harvard Law or Cooley Law, $150k in student debt will destroy your life unless you are one of the few graduates today who will go on to make Biglaw partner or become part of the law school scam. Don't want to hate your life at the expense of making a Biglaw salary? Then don't go to law school, even if it's a T14. You will never be able to pay off your debt otherwise.

This is why Angel and I continue to blog and maintain a place for the unemployed to vent their frustrations. Get used to us because we are making a positive difference and we expect to blog for a very long time considering that the economy is not expected to get back on track until at least 2015. There will be thousands more joining us in the coming years. At least we know we're on the right side of the fight.


Saturday, February 27, 2010

Top Law School Degree For Sale on Ebay

Description:

After several years of practicing law with a bunch of nerds in Silicon Valley I have come to the conclusion that my law degree is useless and I don't want to be a lawyer anymore. Though I spent over $100,000 on it I am willing to sell it for the bargain basement price of $59,250, which is the current value of my remaining student loan balance.

This priceless collectible will permit you to be surrounded by hobby-less assholes whose entire life is dictated by billing by the hour and being anal dickheads. Additionally, this piece of paper has the amazing ability to keep you from doing what you really want to do in life, all in the name of purported prestige and financial success. Finally, girls in the Marina will swoon with retarded thoughts of sugar daddy when they hear you went to XXX prestigious law school and are a lawyer.

Act now as supplies are limited and this crap takes three years to make. DISCLAIMER: this piece of shit isn't even written in English. It's in Latin or something, but I have the translation. It says "Haha. We took your tuition money bitch, now suck it. Sincerely, President of the University"

Added Bonus: It's from one of those elitist BS institutions that accept people like George W. Bush cause their daddy donated $20 million i.e. Cornell, Penn, Harvard, Yale, Columbia, Georgetown, Duke, Tijuana Tech, etc. Instead of donating $20 million you can have it for the low low price of $59,250 or best offer.

This is actually a serious post. I will really sell this piece of shit.

The current bid is $102.50. Too much if you ask me.

UPDATE: Lawyers Against The Law School Scam has posted the lawyer's followup comments in an interview with ATL in the comments section below.

Sunday, February 14, 2010

Job Offers Galore....

in Bangalore.  It seems that you stand a very good chance of getting a job offer if you go to school in a third world country. Why did my parents come here again?  I'm joking, of course.  I love America.  It just seems as if the U.S. has jumped the shark.

Read this and weep!

BANGALORE: A clutch of foreign and Indian law firms literally swooped down on the National Law School of India University (NLSIU), Bangalore 
campus, over the past few weeks, offering handsome packages to graduates. The rise in demand for prospective lawyers saw an uptick in salaries being offered — from Rs 7.5 lakh in 2009 to Rs 9.7 lakh per annum this time. The highest domestic offer, of around Rs 12.5 lakh, was made by FMCG major Marico, compared with Rs 11 lakh made last year.

Around 50 students of the 2010 batch of 77 students have accepted corporate offers, while the rest will be pursuing litigation, civil services or other further studies. Amarchand & Mangaldas was the biggest recruiter and they picked up 12 students.

The highest offers were made by UK Magic Circle firms namely Allen & Overy, Clifford Chance, followed by Norton Rose and Herbert Smith, that offered an average salary package of £37,000-38,000 per annum. A unique feature of this year’s placements was the participation of PSUs such as Indian Oil and Sail. This year’s campus placement saw participation by law firms like J Sagar & Associates, Nishith Desai & Associates and Talwar Thakore & Associates, among others.

Consultancies like McKinsey and Boston Consulting Group also visited the campus. Around 21 students were recruited through earlier processes and pre-placement offers with law firms like Amarchand Mangaldas Suresh Shroff, Luthra & Luthra Law Offices and S&R Associates.

The campus placement at National Law School was held early this year instead of the conventional April-May sessions, said NLSIU head of the public relations cell, Kushal Bhimjiani. “Foreign firms are increasing their offers to students in India. They come earlier due to which we missed out a few jobs,” Ms Bhimjiani said.

“Indian firms also wanted it to be held earlier as they want to get hold of the best talent,” she added. Representing the financial sector were companies such as ICICI Bank, Kotak Mahindra and microfinance organisation IFMR. The other top companies that participated were Bharti Airtel, Marico, Jindal Steel Works and Hero Honda.
 

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