Monday, April 6, 2009

The Legal Profession

I keep reading about the legal profession and changes it needs to make. Recent ideas have included changes to billing, concept and pay structure. Which is great, but what about those of us with crazy huge student loans and no visible means of support therefor?

I can see why each of the above makes sense; the cloud-computing model of law firms can charge less because it has less infrastructure, but for large firms and work in complicated business models such as corporate work, it makes far less sense. While I realize that companies are becoming frugal and wanting to pay less, they also need to pay for the expertise that they want to use.

It would also be great if law school tuition went down to affordable rates, but higher education, like everything else, has a certain financial structure. In this economy, it's more likely that donations will go down and tuition will go up, especially at private schools.

It's all well and good to say things need to change, but my guess is that law firms never had crazy bonuses like Wallstreet did and it feels like people are lumping attorneys in with the financial players who looted their companies.

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