21% of law students are sorry they went to law school and 35% say they do not feel adequately prepared for the changing marketplace.
71% of corporate counsel feel firms are not doing enough to reduce fees.
77% of private practice lawyers feel clients are sacrificing quality in order to reduce costs.
So, based on these results, it appears neither students, nor clients nor attorneys are comfortable with the state of the industry. If only anyone knew what to do about it.
Of course, law students are always cranky, clients always want to pay less and lawyers always think they could do a much better job if clients would keep quiet and pay the bills — and the financial crisis has exacerbated all of these feelings.
Though we are not as negative on the idea of going to law school as he is, Elie Mystal’s take on the results is not to be missed, if for his title alone.
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