As someone who not-so-secretly harbors dreams of being a lawyer, the world of law schools and law careers, is something I keep tabs on. My indecision revolves around the feeling that “it’s not the right time yet". I am not sure if the right time will ever come, especially when I read reports about the career prospects of law school graduates. Apparently, I am not alone.
The WSJ has an article stating that the “number of law school applicants so far this year has fallen by 11.5 %, the lowest since 2001". The main reason for this is the high cost of law school coupled with poor employment prospects. Seems that many people are questioning the value of a 40K/yr education that leads to 120K in student loans upon graduation, only to end up in a low paying legal job or in a gig that does not require any degree let alone a law degree (waitressing, anyone?).
The WSJ article continues by quoting the ABA (American Bar Association) in a 2009 report as having stated that “The rising cost of a legal education and the realities of the legal job market mean that going to law school may not pay off". The ABA report also noted that "the average law student could expect to graduate with more than $100,000 in school debt".
100K is no chump change. Does this mean you or I should give up on our law school dreams? Hardly. What is important is that you carefully ask yourself why you want to be lawyer. If you determine that only a career in the law will give you a reason for living, then take the time to consider your individual situation in depth.
Needless to say, attending a top law school increases your chances of getting a job and a well paying job at that. Therefore, your grades, your LSAT scores, your extra-curricular activities including all the volunteer work you have been doing since 1st grade play a big role in getting accepted by a top school.
Don't just apply to the school nearest to your home or your undergraduate alma mater. Do the research to determine which programs are highly rated and best match your interests. Look at their post-graduation employment statistics; not just what % of students find jobs but what kind of jobs they are working in. You will be surprised to find that there are many lawyers not working as lawyers because they can't find a legal job.
When you receive your acceptance letters, it is important to compare the financial packages in detail to establish which school makes financial sense for you. Once you get to law school, the most important thing you should do is to find out what you need to succeed in school and how to find a job once you graduate.
There is a wealth of information out there and if you want to be a lawyer, I assume you have no problem with lots of reading and research. Check out the links below for related information:
New York Times: Is Law School a Losing Game?
Slate: A Case of Supply v. Demand
ABA Website: What America's Lawyers Earn
Toby's Blog: The Official JD Admissions Blog at Harvard Law School
Wish I Would Have Known Blog: Advice From Law Students On How They Would Do Things Over
If you have an opinion on law school and legal careers, please drop us a line with your comments.
