Transcript Document

&
PEEK & TOLAND LAW FIRM
UT LIBERAL ARTS CAREER SERVICES
IS
LAW SCHOOL
RIGHT FOR
ME?
JEFF PEEK,
SMALL FIRM
Partner at Peek & Toland Law Firm
• Juris Doctor: St. Mary’s University
School of Law in 2000
• Undergraduate: The University of
Texas at Austin, BA History & Sociology
• Practice Areas: Immigration & Criminal
Defense
• Career Path: Law School  Small Firm
Practice in 2000  Solo practice in
2002  Formed Evans & Peek 2003 
Peek & Toland in 2010
STEVE TOLAND,
SOLO, SMALL FIRM & GOVERNMENT
Partner at Peek & Toland Law Firm
• Juris Doctor: St. Mary’s University
School of Law in 2000
• Undergraduate: Tulane University
• Practice Areas: Immigration & Criminal
Defense
• Career Path: Law School  Judicial
Clerkship in 2000  Texas Attorney
General’s Office in 2000  Formed
Toland Law Firm in 2010 as a solo 
Peek & Toland in 2010
BRIAN HENSLEY
MID-SIZE FIRM
Senior Attorney at Thompson & Coe
• Juris Doctor: University of
Houston Law Center in 2002
• Undergraduate: The University of
Texas at Austin
• Practice Areas: Litigation,
Products Liability & Mass Torts in
Insurance Industry
• Career Path: Law School  Joined
Thompson & Coe in 2005
BRAD THOMPSON
BIG FIRM & GENERAL COUNSEL
President & General Counsel at Circular
Energy
• Juris Doctor: The University of Texas
Law School in 2004
• Undergraduate: Baylor University
• Industry: Energy Sector, Commercial
Litigation
• Career Path: Law School  Joined
Dewey & LeBoeuf in 2004  Lateral
Move to King & Spalding in 2008 
moved to President & General Counsel
at Circular Energy in 2013
DAVID MUCKERHEIDE
BIG FIRM & GOVERNMENT
Attorney III at Texas Department of Insurance
• Juris Doctor: The University of Texas Law School in 2002
• Undergraduate: Texas A&M University
• Practice Areas: Administrative Law, Insurance &
Business/Corporations
• Career Path: Law School  Recruited to Winstead, P.C. in
2002  Lateral Move to Department of Insurance Attorney
position in 2008
THE LAW SCHOOL EXPERIENCE
• Admissions + LSAT
• The Socratic Method: Responding & Thinking Like a Lawyer
• IRAC: Writing Like a Lawyer
• Issue
• Rule
• Application
• Conclusion
• Final Exams
• Bar Preparation
• The Bar Exam
WHAT TO EXPECT
IN LAW SCHOOL
• Socratic Method: Professors call on individuals at random and will
ask unprepared students to leave the classroom or deduct points
from their final grades.
• Writing: You will be expected to write legal memos, briefs, and to
be able to read, understand and analyze case law and statutes.
• Studying: For every one hour in class, expect to spend around
2-3 hours reading, studying and preparing for class.
• Exams: At most schools, there is one cumulative exam at the end
of the semester that determines your entire grade for the class.
The exam is usually 2-4 hours long. You will have an exam per
class. Most are written exams, however some professors use
multiple choice exams.
WHAT TO EXPECT FOR THE BAR
DAY 1: Multistate Performance Test & Procedure and Evidence
Exam
•
Type: Essay & Short Answers
•
Time: 90 minutes per section
DAY 2: Multistate Bar Exam (MBE)
•
Type: 200 multiple choice questions
•
Time: 6 hours
DAY 3: Texas Essay Subjects
•
Type: 12 Essays
•
Time: 6 hours
EARNINGS
Median Yearly Income for Attorney:
$78,584.00
Range: $44,000.00-$165,860.00
Median Income for 2012 Law School Graduates: $61,245
Pretax Value of a Law Degree: $1m
Median additional lifetime earnings: $610,000.00.
In other words, the average law school graduate can expect to
earn about one million dollars more than if they had not gone to
law school.
Source:
http://www.payscale.com/research/US/Job=Attorney_%2F_Lawyer/Salary
http://www.nalp.org/classof2012_selected_pr
http://dealbook.nytimes.com/2013/07/18/debating-yet-again-the-worth-of-law-school/
PAYING FOR LAW
SCHOOL & DEBT
• Debt Range: $21,000.00 to
$168,800.00.
• Average Debt: $100,584.00
• Top 10 Law School Average Debt:
$147,717.00 in 2011.
Tool for Calculating Expenses & Debt:
http://www.admissionsdean.com/payin
g_for_law_school/law-school-costcalculator
Source:
http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-lawschools/grad-debt-rankings/page+8
THE UGLY SIDE OF THE LEGAL
PROFESSION
• 19 percent of lawyers experience depression at any given time,
compared with 6.7 percent of the general population.
• 20 percent of lawyers have drinking problems, twice the rate of
the general population.
• Canadian Bar Association study found that the suicide among
lawyers is nearly six times the suicide rate in the general
population – Study published in the American Bar Association.
• Forbes conducted a survey of 65,000 employees in various
careers. The survey found that the #1 unhappiest employee
was that of an associate attorney.
Source:
http://www.abajournal.com/news/article/lawyer_depression_comes_out_of_the_closet/
http://www.abajournal.com/news/article/lawyer_personalities_may_contribute_to_increased_suicide_risk/
http://www.abajournal.com/news/article/why_a_career_website_deems_associate_attorney_the_unhappi
est_job_in_america/
UNEMPLOYMENT AND
UNDEREMPLOYMENT IN 2012
• 64.4% of law school graduates obtained a job in which passing
the bar is required.
• 13.3% obtained a job in which a J.D. provides an advantage,
usually in a law-related job.
• 6.7% were underemployed in an either professional or nonprofessional job.
• 12.8% were unemployed.
Source:
http://www.nalp.org/classof2012_selected_pr
LARGE &
MID SIZE FIRMS
LARGE & MID-SIZE FIRM
CHARACTERISTICS
•
Average First-Year Associate Salary: $165,000.00/year
•
Typical Client: Ranges on type of law, can be a corporation, person or
organization.
•
Path to Big Firm Life
•
• Law School  Recruited Out of Law School
• Law School  Medium/Small Firm Experience  Lateral Hire
Pros:
•
• Larger Salaries
• Great Benefits
• Strong support staff & large number of resources
Cons:
•
•
•
•
Long Hours ~42-66 hours per week
Large Caseload
High Pressure
1400-2200 Billable Hours per year
Source:
http://www.acc.com/chapters/socal/upload/2011-In-House-Counsel-Compensation-Survey_4-13-11.pdf
SOLO & SMALL SIZE FIRMS
SOLO & SMALL FIRM
CHARACTERISTICS
•
Average Salary: $50,000-$150,000.00/year depending on firm size and
revenue
•
Typical Client: Ranges on type of law, can be a corporation, person or
organization.
•
Path to Small & Solo Practioner Work
•
• Law School  Recruited Out of Law School
• Law School  Practice for some time  Lateral Hire
• Law School  Practice for some time  Start Own Firm
Pros:
•
• Usually reasonable working hours ~40-50 hours per week
• Better work-life balance
• Greater flexibility, especially if solo practice
Cons:
•
•
•
•
Source:
Smaller Salaries
Limited Benefits
Not always full benefits or full time
Limited support staff & resources
http://abovethelaw.com/2010/10/a-small-firm-salary-survey-the-results-part-1/
GENERAL COUNSEL
GENERAL COUNSEL
CHARACTERISTICS
•
Average Salary: $194,964.00/year
•
Client: The corporation or business
•
Path to General Counsel
•
• Law School  Internship at Company  Recruited from Internship
• Law School  Practice for some time Lateral Hire
Pros:
•
• Larger salaries
• Great benefits
• Usually reasonable working hours ~40-50 hours per week
• Better work-life balance
• Strong support staff & large number of resources
Cons:
•
Usually requires previous experience in private practice
Source:
http://www.acc.com/chapters/socal/upload/2011-In-House-Counsel-Compensation-Survey_4-13-11.pdf
GOVERNMENT
GOVERNMENT
CHARACTERISTICS
•
Average Salary: $50,000-100,000.00/year
•
Client: The government, state, city or county
•
Path to Government Attorney Position
•
• Law School  Internship  Recruited from Internship
• Law School  Recruited out of Law School
• Law School  practice for some time  Lateral Hire
Pros:
•
• Loans can be forgiven for government work
• Usually reasonable working hours ~40-50 hours per week
• Great Benefits
• Work-Life Balance
Cons:
•
•
•
•
Source:
Smaller Salaries
Loan Debt Forgiveness
Large Caseload
Limited support staff & resources
http://www.justice.gov/careers/legal/entry-salary.html
NON-PROFIT, PUBLIC
INTEREST & LEGAL AID
NON-PROFIT, PUBLIC INTEREST,
& LEGAL AID CHARACTERISTICS
•
Average Salary: ~$44,000/year
•
Client: Usually a person or individual
•
Path to NOn-Profit/Public Interest Attorney position:
•
• Law School  Recruited out of Law School
• Law School  Intern at Legal Aid  Recruited Out of Internship
• Law School  Practice for some time  Lateral Hire
Pros:
•
• Loans can be forgiven for public interest work
• Usually reasonable working hours ~40-50 hours per week
• Work-Life Balance
Cons:
•
•
•
•
•
Source:
Smaller Salaries
Loan Debt Forgiveness
Larger Caseload
Less Benefits depending on size of organization
Limited support staff & resources
http://www.simplyhired.com/salaries-k-legal-aid-attorney-jobs.html
WHAT VALUE IS A
LAW DEGREE IF YOU
DON’T PRACTICE?
ALTERNATIVE
CAREER PATHS
Fun Facts:
•
38% of U.S. Presidents attended law school or were lawyers
•
42% of U.S. Congressmen and women attended law school
•
46 of Fortune 500’s Top Companies have CEO’s who attended law school
Careers:
•
Politician
•
Advocacy Work
•
Entrepreneurship
•
Therapist
•
Teaching/Coaching
•
Public Speaking
•
Writer
•
Public Relations
http://en.wikipedia.org/wiki/Members_of_the_111th_United_States_Congress
http://en.wikipedia.org/wiki/List_of_Presidents_of_the_United_States
QUESTION ABOUT
THE LAW
A Few Questions from a UT Forum on Law School
http://www.shaggybevo.com/board/showthread.php/135449Questions-about-law-school
QUESTIONS?