The classic corporate law firm business model involved hiring top law school grads and charging clients for their "work" these kids did, which involved learning how to be a lawyer, because of course recent law school grads are completely incompetent.
Problem is, what with the recession and all, all these law firm clients are deciding they don't want to pay outrageous hourly sums to subsidize the education of young Ivy League dolts. So, the WSJ reports, high end law firms are taking the unprecedented step of trying to actually teach their first year lawyers some shit, so that they might know some shit. Crazy enough to work?
The program promises to train the junior lawyers in financial analysis, valuation and practical skills, such as creating PowerPoint presentations and computer-spreadsheet analysis.
Any 24-year-old who is able to create a PowerPoint presentation is well worth their $378 average billable hourly rate. Case closed! (For $378 a kid will make a PowerPoint explaining that legal term to you!)
[WSJ, photo via Shutterstock]