Posted by: Lindsey Gerdes on October 12, 2009
For those MBA students worried about finding a job, there is one group that may have it even worse than you do—law students.
In this week’s cover story, BusinessWeek writer Peter Coy explores the particularly tough job market for job seekers under thirty and the long-term ramifications of graduating into such a tough climate in terms of career progression and salary. He singles out law students, and says that Northwestern University Law School’s career center director Bill Chamberlain told him that at least three-quarters of students who graduated in May head their employment deferred for up to a year.
While a number of MBA students have also had employment deferred, the deferrals in the legal community are truly staggering by comparison.
Jared Lubitz, a 15-year career industry veteran and founder of AllPinkSlips.com, puts it this way:
I think attorneys might be affected because so many firms are pushing off their young associates. It might have a longstanding trickle effect. They might say, you know what, there are no jobs available, I’m not going to go down that path.
Unfortunately, this could potentially lead to even more competition for MBA job seekers if law school grads start trickling into the corporate world (that is, if they begin taking jobs that don't necessarily require their law degrees.) Has anyone seen evidence of this?