A company called UnitedLex has reinvented the job market for new lawyers with the creation of a brand new employment concept called a "legal residency." Although UnitedLex is not itself a practicing law firm, in collaboration with law schools at Vanderbilt, Ohio State, Emory, and the University of Miami, UnitedLex provides the following opportunities for new graduates:
"Graduates work with UnitedLex as a resident for up to two years (not foreclosing the possibility of longer-term employment), compiling genuine hands-on experience. It’s not uncommon for a resident to manage their own team of reviewers and interface directly with the client and its outside counsel to develop strategy. Additionally, about 10 percent of the residency is devoted to training programs that UnitedLex and the schools developed to keep the grads learning the practical skills needed for a developing practice." Quoted from Above the Law.
About 100 graduates have already accepted jobs with United Lex at salaries between $55,000-$70,000 per year. The law schools also receive 50% of the profits that UnitedLex generates from the law schools' alumni contacts.