In today’s New York Times, Adam Cohen writes that the current economic downturn may finally force the legal industry to change its ways in a number of areas. As all industry observers know, law firms in all markets across the country have experienced layoffs – some have even completely closed. Cohen argues that the escalation of salaries for first-year associates has finally stopped and we should see salaries fall significantly – which in turn will have a ripple effect on the industry. He also asks whether law schools will use this opportunity to change and update their programs to meet new demands.
The complete article can be found here.