Are you still fussing with that U.S. News & World Report ranking of law schools? How provincial! We live in the global economy, so what really matters is how your law school ranks ­internationally. Here are Quacquarelli Symonds Ltd.’s 2013 World Law School Rankings:
1. Harvard Law School. 2. Faculty of Law, University of Cambridge. 3. Faculty of Law, University of Oxford. 4. Yale Law School. 5. Melbourne Law School. 6. New York University School of Law. 7. London School of Economics Department of Law. 8. Columbia Law School. 9. Stanford Law School. 10. Sydney Law School. (Hat tip: TaxProf Blog.)
Speaking of law schools, we’ve said it before, and we’ll say it again: Being a law professor is a dream job. You teach a couple of boring courses eight months a year, keep erratic office hours, get lots of time to do "research," go on sabbaticals in exotic locales (Maldives Law School, anyone?), etc. And the best part: You don’t have to teach at a top school to make decent moolah! TaxProf Blog reports on salaries of law faculty at some of the nation’s law schools.
Here’s a sample of the median salaries of tenured law professors: University of Iowa College of Law, $184,800; University of California Hastings College of the Law, $187,221; University of Nebraska College of Law, $150,720; Northeastern University School of Law, $179,362; Rutgers School of Law – Newark, $186,000. It’s not Big Law partner money, but perfectly respectable for what some treat as a part-time job. Plus imagine what $200 K can buy you in Iowa!
And this just in: TaxProf Blog reports that "a tenured Brooklyn [Law School] faculty member has filed an explosive 12-page ABA complaint against the law school." The allegations, among others, include "withholding of material information concerning a dean candidate; the full-time employment outside the law school of the current dean; executive decisions of school policy made without faculty input; waste and mismanagement of school resources, including exorbitant administrative and faculty salaries."
So how exorbitant? "The total value of the salary and benefits provided to the president of the law school — which include a tax-free furnished apartment complete with designer kitchen and skyline views of Manhattan, a car and a driver — exceed a million dollars," which, this Brooklyn faculty alleges , "is the highest compensation paid to any law school dean or administrator in the United States."
What we’d really like to know is how much professors at top schools rake in. Paul Caron, who runs the Tax Prof Blog, said that Above the Law saw spreadsheets for University of Michigan Law School, University of California, Berkeley School of Law and the University of Virginia School of Law that "show the eye-popping salaries — $250 K is common, with stars at $350 K+." And let’s not forget, a lot of those profs also do lucrative consulting on the side.