One post #1 I stake out my view that the legal profession is undergoing a structural transformation.  It is sais that a picture can convey a 1.000 words.  In this post, I want to share several graphics that I often use in talks related to structural change.  Below each chart is a brief commentary that describes its relevance.

By the way, this is a long post (most pictures).  Every 100 years, when the structure of the industry commences a dramatic transformation, I am going to break Internet ettiquette and write post that is commensurate with the seriousness of the topic.

Graphic #1:  The Legal Profession, Circa 1948

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The above graphic summarizes data from the first complete census of lawyers.  It is snapshot of the legal profession at the beginnng of the post-war (or modern) era. Another way of stating it:  This is structure of the legal profession when today’s senior lawyer firm partners were born.  In their life times, the profession underwent a profound — albeit gradual — tranformation.

A few basic observations:

  • Solo practitioners comprised a majority of lawyers in private practice.
  • The “credential model” was not fully in place.  Less than half of all lawyers completed law school; not all lawyers completed law school.  One of the compelling reasons to finish law school was to obtain the requisite knowledge to pass the bar exam. 
  • Anti-leverage:  6 partners for every one associate.  In reality, very few firms had associates.  The average firm had 1.64 partners.

Along side the dusty journal article that provide the above data, I located another early post-war study that summarized lawyer income.  The average

 

This project generated a lot of interest among the profession.  I am told by Robert Nelson, Director of the American Bar Foundation (ABF), that this study provided part of the momemtum needed to create the American Foundation. 


 

Graphic #2:  The Upside Down Hockey Stick