I graduated law school in the mid-90's. Since I graduated both the number of law schools and the available spots at law schools has doubled while the economy has gone down obviously reducing the number of people who can pay for legal services and, obviously the number of lawyers hired by firms. But the glut is the real problem. I had to hire an associate last summer for an ENTRY level job and my other partners forced me to reduce the starting pay down by 1/3 of what I wanted to offer because they knew people were desperate. Indeed, for a job posting that specifically said (1) you must have passed the bar which disqualified all the kids who were taking it that July and (2) entry level salary regardless of experience (which is code for I'm not hiring anyone who has a ton of experience because I can't pay you) we still had over 200 applications. I'd say 1/2 were graduates one particular law school in Michigan which advertises itself as the biggest in the nation. Thats not a good thing. That particular school is doing a disservice to its own grads by pumping that many people into an already depressed legal market.
Mike Lantry, 1972