Historically, the legal profession has been one of elitism. Schools, grades, firms, companies…You name it. “The best”________ (fill in the blank) was highly valued and often provided lawyers with their ticket to success. If you had a gold plated legal resume, you were set. For life.

But the times, oh how they have a-changed. Well, sort of. In today’s legal environment, stellar academic credentials are still valuable. But do they guarantee a successful legal career? No. Do they provide job security as the legal profession experiences radical change? No. What about competitive advantage? Are gold plated creds a shoe-in for securing job offers? Not anymore.

What has caused such an evolution?

The shifting values of Corporate America and the Corporate Globe, globalization, bottom-line law firm economics, increased focus on “culture” and the increase in the overall talent pool have contributed to the dilution of the competitive advantage superior academics once offered. With this said, an Ivy League (or equally cached) law degree still can carry distinct advantages. Below are a few profiles & circumstances where quality creds can make a difference:

Summer and Law Firm Associates.

Of all the employers out there, law firms still maintain the highest focus on credentials. For law students and young lawyers, the quality of the law school…and grades still dominate the hiring criteria for summer associates and junior-mid level associates. However, the news isn’t as good for spiffy law firm partners. Growing in house legal departments and fee pressure from clients have forced law firms to become bottom-line entities, which means that partners with the biggest books of business are more highly valued and hold greater leverage than those with the most magnas and summas.

Lawyers Seeking Re-Entry To The Profession.

Women who have taken time off to raise families, lost souls, aspiring screenwriters, do-gooders, burned out lawyers etc. Anyone who has left the law for a period of time and seeks to “opt back in” will have an easier go of it with great credentials. Employers seem to cut this group more slack than most every other profile. And as a result, their time out is not as heavily held against them.

Course Correctors.

Not everyone is an expert at managing his/her career. Often times, lawyers will take a course that moves their careers in the wrong direction. For lawyers looking to “course correct”, possessing great credentials will benefit their efforts. Employers are willing to give this constituency the benefit of the doubt on head scratching career choices and will more likely provide a second chance to stellar law school grads than their lower ranked counterparts.

Job Applicants (Sometimes).

Great schools will not guarantee an interview or an offer. But there are situations where they can get a candidate to the next round of review. This can be the case when the employer isn’t as familiar with legal resumes or is on the fence regarding a candidacy. It can also be the case when the hiring manager values a top pedigree more deeply.

Employers Who Require Top Credentials.

For employers who require candidates with top credentials, these lawyers will have a clear advantage over others in the market. But the requirement is often in addition to high quality experience and a great culture fit. The credentials in and of themselves won’t carry the candidates if the other substantive and interpersonal areas aren’t stellar as well.

The evolution of the legal profession has resulted in a playing field that is more level for attorneys today. Great credentials are still valuable assets…but the story does not end there. A multitude of factors – rather than a single one or two – now play a pivotal role in a lawyer’s career prospects and overall opportunity for success. So be mindful of this new reality and pay special attention to every aspect of your professional self. Your career depends on it.