The legal landscape has changed significantly, with a decline in law school applicants and enrollment, despite an increase in the number of law schools. Traditional job prospects for new graduates are diminishing, while solo and small law firm practices are on the rise, driven by factors such as globalization and increased competition. This environment presents new opportunities for those considering starting their own law practice.

1. Lots of opportunities for
solo and small firm lawyers
Law School
and legal job
prospects
in 2015

2. the number of law schools have
increased while the number of
applicants has decreased:
In recent years,

3. The number of law
schools has grown from
201in 2013.
(Standard and Poor Ratings Services)
183 in 2001 to...

4. In 2009-10 nationally,
171,500 hopefuls took the
Law School Admission Test;
(Law School Admission Council)
this year, the
number was down to
105,500.
Law school
applications
are down 5%
from 2014.

5. (ABA Report)
Enrollment is
down 30%.
Full- and part-time
students went from 52,488
in 2010 to 37,924 in 2014.
52,488
37,924
2010 2014
10,000
20,000
30,000
40,000
50,000
60,000

6. Traditional job prospects are declining
as the legal landscape shifts:
The legal job
market is shifting.

7. (NALP)
fell for the
sixth year in
2013 to 84.5%.
84.5%
2013
20%
40%
60%
80%
100%The overall
employment rate for
law school graduates
EMPLOYMENT RATE

8. Practicing lawyers in
small towns are often
nearing retirement age,
without anyone to take
over their practices.
Nearly 20% of Americans live in rural
areas, but just 2% of small law
practices are in those areas.
RETIRED

9. Solo and small
firms practices are
on the rise:

10. of Florida lawyers
reported either operating
a solo practice or
working in a firm or
other legal setting with
five or fewer lawyers.
1 2 3
4 5
67%

11. 4.8% of graduates
from the Class of
2010 set up their own
solo law practice
after law school.
In 2013, 933 recent law school graduate
respondents identified as solos 9 months
after graduation, up from 576 in 2007.
(NALP)
933
576
2007 2013
200
400
600
800
1000
SOLO LAWYERS
The number of recent law
graduates opening solo
practices has nearly doubled
in less than a decade.

12. The primary driving forces behind
the increase in solo practitioners are:
globalization
increasing number of
alternative legal providers
available
outsourced legal processes
more competition between
large firms

13. So, if you've ever considered opening your
own practice, now may be the perfect time
to hang your shingle!
new and emerging
opportunities for solo
and small firm lawyers in
today's legal marketplace.
This means there are

14. Sources:
http://www.newsobserver.com/news/local/education/article10101824.html#storylink=cpy
http://lawprofessors.typepad.com/legal_skills/2015/04/lsac-reports-law-school-applicants-for-fall-2015-down-28.html
http://dealbook.nytimes.com/2014/12/17/law-school-enrollment-falls-to-lowest-level-since-1987/
http://www.abajournal.com/magazine/article/too_many_lawyers_not_here._in_rural_america_lawyers_are_few_and_far_between
http://www.behblaw.com/Hidden-Pages/Soft-Job-Market-Nudges-More-Law-Grads-Out-on-Their-Own-_-The-Recorder.pdf
http://www.floridabar.org/TFB/TFBResources.nsf/Attachments/B930967DEAA94E0485257DD6005CE816/%24FILE/2014%20Econ%20Survey%20FINAL.pdf?OpenElement
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