The US is two tiering everything. Now, it’s the turn of lawyers. Pocket full of dough, barrels of money, and rich clients who baulk at high lawyerly fees, law firms are now doing what universities have been doing for a long time now, and cities and states have done and are still pursuing: creating two classes of employees: one with a clear path to partners; the other a non tenured path which means long hours and low pay and little room for advancement.
Instead of beginning with a low six figure salary with a freshly minted law degree, a lawyer second class will earn at best us$60.000 annually. Not much when you think the lawyer has the weights and chains of us$100.000 debt to pay off as he or she starts off in life. No glory there. No advancement. A cubicle in the back room, boys! But who would want the same? In a few years to come, start seeing the number of law degrees decline.
Today in the US, a Ph.D. does not mean much. In fact, he or she might do better at Starbucks which offers its employees medical benefits, and which as an ‘adjunct instructor or professor’ hardly keeps food on the table.
This as banks and corporations feed healthfully off the public, the careers which once led to hopping up the social ladder, are being debased, and Ph.Ds and now lawyers are forced to join the ranks of the declasses and are more akin to a blue collar background than before.
What about the big bracket banks? Well, they’ve sold the problem by outsourcing to India, for example. An Indian banker costs them us$0,31 or 31 cents, meaning a saving of 69 cents and a big injection to the banks’ bottom line and senior management bonuses and some gravy to coupon clippers.
The age of robber barons is back with a vengeance. Bilk the masses for sustaining the plutocrats. Crush unions or barricade the paths to social advancement. Revive a restricted democracy for haves, and damn the have nots who should keep a civil tongue and toil in the fields of another man’s profit and leisure.