Update On the Aging of Lawyers in Private Practice
What Happens When Baby Boomers Retire? In April 2013 , I wrote about the possible opportunities for new lawyers created by the increasing age of lawyers -- who will eventually retire. Bill Henderson, of The Legal Whiteboard blog, provides a very interesting analysis of his data on this topic here . One of his findings: The big surprise here is that the proportion of young lawyers (under age 35) has been declining for several decades. And not by a little, but by a lot. During this period, the median age went from 39 in 1980, to 41 in 1991, to 45 in 2000, to 49 in 2005. Some of his conclusions: The analysis above suggests that the JD Advantage / JD Preferred employment market started to take shape several decades ago, long before these terms were put in place by the ABA and NALP. Yet, we really don't know about these careers. To construct a more useful, informative narrative, we'd have to systematically study the career paths...