Dear all,

I am a little bit concerned about the degrading job market caused due to the fear of an economic recession in the US? any thoughts....

Mastermind

From my experience in times of market recession, when the M&A, IPOs and other corporate transaction are slacking, other sectors, such as litigation and regulatory, always have a boost.
That is what precisely happened in 2000-2002, and what it appears to be happening right now with the credit crunch, check this article just published on legalweek.com:
http://www.legalweek.com/Articles/1098998/US+Briefing+Sub-prime+meltdown+fuels+litigation+boom.html.

In 2002, when I started working, there were practically no IPOs on the Italian market and that is why, until 2003, I worked on regulatory issues as investment banks and other financial institutions were concentrating on clearing and re-organising their structures.
Then, when the market started heating up again I (finally) began working IPOs and other Capital Markets transactions.

In addition, please consider that law firms tend to hire resources also in time of not so good market condition otherwise they might not be ready for the next market boost; althought it might not be as easy as in times of good market conditions.

Any thoughts?

Hey,

Thanks for your insights. However, from what I have heard from people studying LL.M. in the US this year is that the job market is rather down. I know that few of these people actually have excellent credentials and studying in Top 5 universities (as per US news ranking) and would generally have been picked by the good law firms based on the experience of recruitment scenario of last year. But many of them are actually planning to return back to India.

It may be noted that the demand for India centric work within international law firms is only growing irrespective of the fear of economic recession. I know this because part of my job today also entails engaging international law firms for a number of cross-border matters.

Having said that, I think I am still going to undertake the LL.M this year as I am gambling on the fact that the US economy would kickstart itself in two or three quarters and may be fine by the time I actually graduate next year.

Btw, Miki are u studying an LL.M right now? or are u working?

Thanks and Regards,

Mastermind

Hi Mastermind,
I'm still working and, as you, I will be an LL.M. candidate starting from this fall.
I heard too that the LL.M. job market is rather down this year if compared to 2007 which was an exceptional year for LL.M.
Nonetheless please consider that there are some factors that, besides market conditions, influence the possibility of securing a job in the U.S.: (i) the number of LL.M. candidates from a particular country of course increases the competition within such country; (ii) your previous working experience is very important (if you have already significant experience in a major international law firm it will be a very important asset); (iii) your english language proficiency (U.S. employers tend do not like strong foreign accents); and (iv) - like everywhere else in the world - the ability to "sell" yourself (an employer surely prefers somebody which is smart, skilled, etc. instead of someone who has better academic credentials but that is shy and does not have a clue on how to interact with clients, etc...)
The law school ranking also plays a key role but, as you may read on all posts on this website, it does not secure you a job in the U.S.

Finally, it will always be hard for an LL.M. to get a job in the U.S. market not matter what!
So, good luck, and let's hope next year the economy will be recovering so that we may be able to play our cards!
Regards
M.

what is the seen at present after jobfair in newyork on 25-26 jano8.are llm student getting callbacks/offers from int.law firms.