- PowerScore Staff
- Posts: 9010
- Joined: Feb 02, 2011
- Fri Apr 03, 2020 9:53 am
#74626
Accepted law school student Sven reached out to PowerScore CEO Dave Killoran for some advice picking a law school. Below is Sven's question and the response by Dave Killoran.
Sven: "Hey there,
I find myself utterly torn between two great options. I am a fifth generation rancher from southwest Oklahoma, and I know that I would like to raise my family in the area. That being said, I feel a strong desire to seek clerkship for a federal judge, and I do not want to limit myself to the Midwest.
I have received the Sumners full ride scholarship to Southern Methodist University in Dallas. In addition to the monetary appeal, the Sumners scholarship instantly plugs me into an outstanding alumni network.
I have also been admitted to University of Pennsylvania. I do not know about scholarships yet, but even if I receive some it will certainly not be a full ride.
The median salary of UPenn is 180k (SMU is 100k), but I do not know if that is exclusive to the region. Would a large Dallas firm pay more to a Penn Grad?"
Dave Killoran: "Hi Sven,
Thanks for the message and congratulations on the acceptances and scholarship! You are in an enviable position with a full ride already in your pocket
Here’s the thing about the comparison you make: Penn is a national school and the name opens doors everywhere, including Texas. But, it’s also the case that many Penn grads are looking to break into biglaw in the biggest legal markets, and this you see a very high percentage go into big firms (around 70+%), with NYC, Philadelphia, and DC accounting for around 70% of their placement. Can a Penn grad go into Texas and pull a high salary? Yes they can because of the national name and ranking, but keep in mind there are fewer opportunities for that in Dallas vs NYC, and so you see fewer grads heading to Texas.
So, what happens if you get down to a top grad from SMU vs a top grad from Penn going for the same job in Dallas? Then it becomes a battle of familiarity vs national prestige/ranking. Law is a very elitist field, and most law firms tend toward the bigger name, almost like they caught a big fish. Most of the time, the firm would say we have plenty of SMU grads but not Penn folks, so all else equal go with Penn
The real research of interest here is the percentage of positions in DFW/Houston that are $150K+ salaries for new associates. What I can see at a glance is that it’s maybe 10% max, and for those, Penn would make a difference and get you in the running. But I don’t know how many 10% equals to in actual spots, so that’s what I’d really look at.
Btw, if you get a federal clerkship, you’re golden regardless. That’s the most desirable position out there and turns you into a hot commodity. There you again see the Penn advantage: 7.4% of Penn grads get one vs 2.5% of SMU grands (and, SMU is in a less competitive sector than Penn, since many people try to get those jobs in the region where they go to school). Something to think about.
Please let me know if this helps, and let me know what you decide. Thanks!"
Sven: "Hey there,
I find myself utterly torn between two great options. I am a fifth generation rancher from southwest Oklahoma, and I know that I would like to raise my family in the area. That being said, I feel a strong desire to seek clerkship for a federal judge, and I do not want to limit myself to the Midwest.
I have received the Sumners full ride scholarship to Southern Methodist University in Dallas. In addition to the monetary appeal, the Sumners scholarship instantly plugs me into an outstanding alumni network.
I have also been admitted to University of Pennsylvania. I do not know about scholarships yet, but even if I receive some it will certainly not be a full ride.
The median salary of UPenn is 180k (SMU is 100k), but I do not know if that is exclusive to the region. Would a large Dallas firm pay more to a Penn Grad?"
Dave Killoran: "Hi Sven,
Thanks for the message and congratulations on the acceptances and scholarship! You are in an enviable position with a full ride already in your pocket
Here’s the thing about the comparison you make: Penn is a national school and the name opens doors everywhere, including Texas. But, it’s also the case that many Penn grads are looking to break into biglaw in the biggest legal markets, and this you see a very high percentage go into big firms (around 70+%), with NYC, Philadelphia, and DC accounting for around 70% of their placement. Can a Penn grad go into Texas and pull a high salary? Yes they can because of the national name and ranking, but keep in mind there are fewer opportunities for that in Dallas vs NYC, and so you see fewer grads heading to Texas.
So, what happens if you get down to a top grad from SMU vs a top grad from Penn going for the same job in Dallas? Then it becomes a battle of familiarity vs national prestige/ranking. Law is a very elitist field, and most law firms tend toward the bigger name, almost like they caught a big fish. Most of the time, the firm would say we have plenty of SMU grads but not Penn folks, so all else equal go with Penn
The real research of interest here is the percentage of positions in DFW/Houston that are $150K+ salaries for new associates. What I can see at a glance is that it’s maybe 10% max, and for those, Penn would make a difference and get you in the running. But I don’t know how many 10% equals to in actual spots, so that’s what I’d really look at.
Btw, if you get a federal clerkship, you’re golden regardless. That’s the most desirable position out there and turns you into a hot commodity. There you again see the Penn advantage: 7.4% of Penn grads get one vs 2.5% of SMU grands (and, SMU is in a less competitive sector than Penn, since many people try to get those jobs in the region where they go to school). Something to think about.
Please let me know if this helps, and let me know what you decide. Thanks!"