Last week I met with Mitch Kowalski of the Legal Post. He mentioned our conversation earlier today on the site, which is the kick in the butt I needed to do my own write-up on it during our break from school.
Mitch is an alumn from my school, Western Law, but has chosen a career path unique from most. After practicing for many years on Bay St. he decided to open a writing center, first at Yorkville, and then moving to a more central location on Bloor West.
And just like those television infomercials, Mitch not only runs the place, but he’s a client too.
Mitch forecasts that current graduates (2009) will probably have it the worst because nobody really knows what to expect. Canadian law school grads might just be fighting for shifts at Tim Horton’s for a few years. They should probably be looking at other careers such as NGOs or trying their hands at magic. In any case, it’s probably still better than doing porn.
Major law firms continue to be in denial in a scenario scarier than Halloween. Most of these firms have come into existence well after the Great Depression, and their size has never been tested by a serious and prolonged recession.
The problem is that lawyers don’t have a lot of work during a recession.
Some of the potential growth areas such as labour and employment, IP, and even bankruptcy and insolvency, won’t make up for shortages in major corporate work that employs massive numbers of lawyers within the major firms.
With every economic threat there are also opportunities, and Mitch thinks this is an opportunity to transform the legal profession. The very nature of law firms may change, with some even incorporating other professionals like accountants into their partnership structure, and others even going public.
The days of sending armies of students to the law library to photocopy into the wee hours of the morning may be ending, because these students still cost too much resources for their office space, workstations and training. Overhead from downtown rent continues to be one of the major costs after salaries in most large law firms. Associate turnover due to burnout and mismanagement is completely ignored and accepted as the price of doing business.
The billable hour also attracts considerable wrath from Mitch’s scrutiny.
Naysayers might shun worrying over the ‘sky is falling’ rhetoric. New grads might feel like they’ve been slipped a mickey by the legal industry. But those who want it raw and are entering the brave new economic world willing to turn to the blogs for advice, Mitch’s column is a good place to start for a translation of things to come.
The Legal Post is also up for an ABA Award, and you can vote for them here to help make Canadian blogs a prominent landmark in the legal blogosphere.
Cross-posted to Slaw