JD Class of 2029 - The World You Started in Will No Longer Exist, So ...

In 2024 and 2025 the world of many of the large law firms seems the same - or even better than the same. That is, it was the continuation of the recent let the good times roll in terms of those key metrics such as revenue, profit per equity partner, the funds to poach stars and hiring of newly minted lawyers.

For 2025, for its global operations, Paul, Weiss hired 182 first-years. That's a 48% increase. And it made offers to all the 127 2L summer interns. In addition to seasonal and special bonuses it provided discretionary bonuses to those who made significant work contributions. And, I am told, those associates billing 200 hours a month receive a $1,000 stipend for a good dinner. 

But, that world may soon no longer exist. 

Well-known is that both Paul, Weiss and Sullivan and Cromwell sketched out some of how life in the legal sector will implode. Because of AI, demand will plummet for junior lawyers. Also because of AI, many practices will devalue into commodities.

But that's just one factor wiping out the traditional law firm business model.

Inevitable, as firms need more and more funding to recruit/retain stars, invest in technology and develop new kinds of profit centers, is allowing investments by non-lawyers. Soon enough it could be overall ownership of the law firm. They're the business types, with a rigid eye on the bottom line. Just as is happening now with the corporate cost-efficiency mandate, much will change when it comes to manpower. Is the associate, counsel, non-equity partner, equity partner structure inefficient?

Of course, the current 1Ls, that is the JD Class of 2029, can begin preparing for what could be unfolding. 

Take the lawyer-technologist role. On the plaintiff side Ian Crosby does that at Susman Godfrey and on the defense side it's Stephenie Gosnell (as well as several others) at Gibson Dunn.

Another hedge is, from the get-go, plan a career path in law school other than practicing law.  For instance, be the summer intern of someone in Congress. Interestingly, when an undergraduate at Union College, chair of Paul, Weiss Brad Karp considered running for Congress. 

Or, like Winston Weinberg, co-founder of Harvey AI, intend to only practice law long enough to understand what can be automated and how to apply guardrails.

Another option is to use law school for an atypical start in a whole other sector. It was during Harvard Law School that Jeremy Blackman launched satirical blog "Anonymous Lawyer." Mocked were the partners. In one post one partner gushed that, if the temperature plummeted enough, hot chocolate would be available, but only during certain hours. The blog kicked off a book deal for the novel by that title and more. 

An updated version of the Blackman coup is the influencer career of former Skadden associate Rachel Cohen. She's going gangbusters. 

Takeaway: One world may be disappearing but the creative hustlers in law schools can figure out how to leverage that investment for the world taking shape. The same applies to associates and maybe even partners anticipating that, as the Irish poet W.B. Yates put it: The centre cannot hold ... Anarchy is loosed upon the world." Chaos opens opportunity.

In my intuitive coaching/tarot reading I guide the over-serious to gain perspective on what could be in it for them to achieve unique success. Yes, success is mental. In the tarot that's symbolized by The Chariot Card. Notice the ethos of serene detachment.


Success is a mental game. Failure comes from being done in by the “committee” in your head.

Together, we liberate your thinking. Then we change your story. And, unleash success.

Intuitive Coaching. Special expertise with transitions, becoming a solopreneur and aging. Psychic/tarot readings, upon request. Complimentary consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com). Yes, test out the chemistry. Zero risk.

Don’t give up before the miracle.

 


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