The Lawyer Bubble: A Profession in Crisis
A noble profession is facing its defining moment. From law schools to the prestigious firms that represent the pinnacle of a legal career, a crisis is unfolding. News headlines tell part of the story—the growing oversupply of new lawyers, widespread career dissatisfaction, and spectacular implosions of pre-eminent law firms. Yet eager hordes of bright young people continue to step over each other as they seek jobs with high rates of depression, life-consuming hours, and little assurance of financial stability. The Great Recession has only worsened these trends, but correction is possible and, now, imperative.
In The Lawyer Bubble, Steven J. Harper reveals how a culture of short-term thinking has blinded some of the nation’s finest minds to the long-run implications of their actions. Law school deans have ceded independent judgment to flawed U.S. News & World Report rankings criteria in the quest to maximize immediate results. Senior partners in the nation’s large law firms have focused on current profits to enhance American Lawyer rankings and individual wealth at great cost to their institutions. Yet, wiser decisions—being honest about the legal job market, revisiting the financial incentives currently driving bad behavior, eliminating the billable hour model, and more—can take the profession to a better place.
A devastating indictment of the greed, shortsightedness, and dishonesty that now permeate the legal profession, this insider account is essential reading for anyone who wants to know how things went so wrong and how the profession can right itself once again.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Tracking the Bubble
The Role of the ABA and U S News Rankings
The Transformation of Big Law Firms
Surging Income Inequality
Other editions - View all
A-List ABA Journal accessed Sept American Bar Association American Lawyer attorneys average equity partner average partner profits AWCI bankruptcy Bar Association become big firms big law firms bill billable hours business model Cadwalader chair Chicago clients compensation corporate court culture debt Dewey & LeBoeuf Dewey Ballantine Dewey’s DLA Piper employment equity partner profits equity partnership federal Finley Kumble firm leaders firm’s graduates Heller Ehrman Howrey Ibid income K&L Gates Kirkland & Ellis large firms large law firms lateral hires Lattman Law Daily law school deans law students lawyer bubble legal career legal education legal profession leverage ratio LSAT managing partners merger metric million NALP nation’s National Law Journal non-equity partners Northwestern percent practice Princeton Review problem profession’s programs prospective Ruyak salary School of Law senior partners student loan survey there’s today’s tuition U.S. News rankings University Wall Street Journal York