I thought Big Law was ‘running out of work’:
https://www.bloomberg.com/news/articles/2015-05-13/there-are-too-many-lawyers-say-law-firms
I know the author and the article was written 2.5 years ago…in my uninformed opinion, there are still too many lawyers, but that opinion is premised on the fact that there are too many law schools whose graduates cannot find jobs. It’s easy and cost-effective for universities to add seats to law school classes but those graduates do not always find jobs that use the degree and they often graduate in extreme debt.
I have an extended family member who moved across the country to attend a third tier law school, graduated, and has since failed the bar 3 times. He is hundreds of thousands of dollars in debt and working a low-paying job that does not require a law degree.
That is the cautionary tale I think others have referenced - it’s not a degree worth going into massive debt for unless the school has good placement numbers for a large percentage of the class (T13 schools, generally), you attend a regional school with good scholarships and intend to practice in that area, or you have the resources to fund law school debt-free.