Michael Trotter tells NYT that the law profession is getting worse
2:31 pm, April 26th, 2012
Atlanta lawyer Michael H. Trotter gave a sobering view of the legal profession today in an interview with the New York Times. He told the Times that the future offers less work for more lawyers, lower compensation and longer hours.
Not surprisingly, Trotter’s new book is called “Declining Prospects.” The self-published book, available on Amazon, makes the case that the legal profession is reeling from a painful reshaping brought about by changing market forces. Trotter, a corporate lawyer at Taylor English Duma who has had a front-row seat on the Atlanta legal scene since graduating from Harvard Law in 1962, has long been a student of law firm economics. An earlier book, “Profit and the Practice of Law,” chronicled the rise of Big Law and its transformation from a profession to a business.
Asked about Dewy & LeBoeuf’s demise, Trotter sees “quite a few more” big firms going under in the next few years. The problem, he tells the Times, is that “there are now far more capable lawyers and law firms than there is work for them to do.” This trend is exacerbated, he says, by corporations’ realization that they can bring a considerable amount of work in house at a 35 to 50 percent savings.
The bottom line: Would you encourage your children to go to law school, the Times asks Trotter.
“I would not,” he offers.
See the full story here.