<p>The criticisms leveled in the article are very valid, but could be applied to just about any university degree. The academic study rarely prepares one for all the skills required to perform in the “real world.” </p>
<p>However, the difference is that for some time top law graduates were billed out at rates that would suggest they were properly trained to add that level of value to their clients.</p>
<p>Nobody expects to pay a brand new engineer $150k and bill them out at $400 an hour. New physicians don’t make anywhere close to six figures for years after graduating medical school (residency). Some top MBAs can make a good six figured salary, but they also usually have quite a few years of solid experience under their belt pre-biz school. </p>
<p>So why should a firm expect to be able to bill out freshly minted law graduates at rates that justify the sorts of salaries still get tossed around? </p>
<p>It doesn’t make sense and now a lot of clients are simply calling firms’ bluff.</p>