I got Lathamed

For some reason I bought into the notion that I could pull myself up by the bootstraps through hard work, and at first, it seemed that I had succeeded.

I got into a very good, but very expensive law school. Going meant I would graduate with six figure student loan debt. I reasoned that this law school was worth the cost based on the median starting salaries for graduates of this school.

I went through on campus interviewing, and received multiple offers to work for large law firms paying six figure starting salaries. I accepted an offer from Latham & Watkins.

I was told by recruiting how well managed and successful this firm was, and thought I had finally made it. I became worried though when I started as an associate and found that there was no work for our large class. However, the managing partner had promised earlier that year that there would be no layoffs, and our class received numerous no layoffs promises as well. Also, prestigious law firms are very concerned about their reputations because they want to recruit top people. Laying off first year associates is seen as an awful move for a firm, and Latham & Watkins was a top 10 firm in the Vault rankings. They had a lot to lose in regards to their reputation.

Ultimately, despite the reassurances and the firm’s reputation, they massacred my class four months after we started. Over half of us were laid-off.

A year later, I haven’t found anything comparable, and my student loan balance is probably larger than it was when I graduated due to the accruing interest. I thought I had pulled myself up by the bootstraps, when in reality my financial situation is now dire and I’m much worse off than I was before I went to school.

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This post was submitted by Lathamed.

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