Fantastic Front Page WSJ Article on Employment Prospects Post-Law School

Graduate School Law School
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<p>The following are some quotes from an excellent front page article in the Wall Street Journal:</p>

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Hard Case: Job Market Wanes for U.S. Lawyers
Growth of Legal Sector Lags Broader Economy;
Law Schools Proliferate

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A law degree isn't necessarily a license to print money these days.</p>

<p>For graduates of elite law schools, prospects have never been better.

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But the majority of law-school graduates are suffering from a supply-and-demand imbalance that's suppressing pay and job growth. The result: Graduates who don't score at the top of their class are struggling to find well-paying jobs to make payments on law-school debts that can exceed $100,000. Some are taking temporary contract work, reviewing documents for as little as $20 an hour, without benefits. And many are blaming their law schools for failing to warn them about the dark side of the job market.

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The law degree that Scott Bullock gained in 2005 from Seton Hall University -- where he says he ranked in the top third of his class -- is a "waste," he says. Some former high-school friends are earning considerably more as plumbers and electricians than the $50,000-a-year Mr. Bullock is making as a personal-injury attorney in Manhattan. To boot, he is paying off $118,000 in law-school debt.

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A slack in demand appears to be part of the problem. The legal sector, after more than tripling in inflation-adjusted growth between 1970 and 1987, has grown at an average annual inflation-adjusted rate of 1.2% since 1988, or less than half as fast as the broader economy, according to Commerce Department data.

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Some practice areas have declined in recent years: Personal-injury and medical-malpractice cases have been undercut by state laws limiting class-action suits...</p>

<p>On the supply end, more lawyers are entering the work force, thanks in part to the accreditation of new law schools and an influx of applicants after the dot-com implosion earlier this decade. In the 2005-06 academic year, 43,883 Juris Doctor degrees were awarded, up from 37,909 for 2001-02. ...

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<p>Are we supposed to accept what the Wall Street Journal says as pure fact? I'm sorry but it annoys me when I see things about how you can't find a job after law school. People are still going to go to law school regardless of what this article says. I know people who didn't go to a top 14 school who are making good money at big firms. To say that if you don't go to a top 14 school that you will not have a good job after law school is absolutely ridiculous. If that was the case, then why don't they just get rid of every other school besides the top 14 schools? Theres always exceptions, just like there are exceptions to what this article says.</p>

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<p><a href="http://www.lsac.org/LSAC.asp?url=lsac/tests-administered.asp%5B/url%5D"&gt;http://www.lsac.org/LSAC.asp?url=lsac/tests-administered.asp&lt;/a&gt;&lt;/p>

<p><a href="http://www.lsac.org/LSAC.asp?url=lsac/LSAC-volume-summary.asp%5B/url%5D"&gt;http://www.lsac.org/LSAC.asp?url=lsac/LSAC-volume-summary.asp&lt;/a&gt;&lt;/p>

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<p>Chris, I don't believe that the article said that you are not going to get a job unless you to to a T14 law school. Did I miss something? I thought that the article was very clear in stating that one's employment prospects post-law school may not be as rosy as many law schools would have you believe, particularly if one does not have stellar grades and attends a lower tiered law school. Of course there are people who get high-paying jobs from schools other than T14 law schools, but I think that part of the point of the WSJ article was to show that many law schools overstate how many of their graduates indeed find these high-paying jobs. </p>

<p>I believe that you are correct to question what is stated in the media, but this WSJ article does cite from a lot of statistical, factual sources, and the fact checking at the WSJ is generally thought to be about the best in the business. I'm certain that the WSJ, though, is capable of errors. It might help if you pointed us towards contrary information of which you are aware, noting that I do believe that the WSJ article accepted that some in lower tiered law schools do get high-paying jobs.</p>

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<p>Sorry If my reply sounded hostile. I just get frustrated when I read articles like that and I tend to make conclusions that weren't necessarily mentioned in the article. Yeah, I don't really trust the media that much, but I guess the stats have some merit. I'll still be confident that I will be employed and happy after law school. I don't need to make 100K for that to happen. I'll keep my head up. My main reason for going to law school isn't because lawyers make a lot of money. Call me crazy, but I think when deciding to go to law school, income potential after graduation shouldn't be your deciding factor. Although I can understand it is important to some. I've just seen so many articles, things, etc. that seem to discourage going to law school, but I still want to go. I'll just have to get used to paying off debts for a long time.</p>

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<p>Look, I believe that if someone is passionate about going to law school, that they should by all means go to law school. I also believe, though, that it is important to go into law school with your eyes open about what happens when you graduate. If law schools are exaggerating the success of their graduates in the job market, than prospective law students need to know that. If students are making little money (especially given the average size of student loans coming out of law school) or are unable to get jobs for some period post-graduation, if at all, that is relevant and important information.</p>

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<p>You are right. I think it is wrong to go into law school assuming you are going to be making the big bucks when you graduate. That is rare and is only guaranteed for certain law students. Potential law students should know this information.</p>

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<p>This was an excellent post. Far too many people go into law school believing that they will be guaranteed financial success; they need a dose of reality. You cannot expect to make a large amount of money in your twenties without having an exceptionally good reason to be paid at that rate. However, you can get a great paying job down the road in law. Moreover, this article might also strengthen the case for more new students to work in the private sector and save their money to help finance law school if they are absolutely sure they wish to become a lawyer.</p>

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<p>i think a key point raised by the article is the impact of debt.</p>

<p>i think there is a lot of merit to the idea that one does not have to earn the big bucks to be happy in a legal career. however, when you add the factor of huge law school debt, it just presents a very harsh reality that too many prospective lawyers don't take into account.</p>

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<p>This is why I am glad I will have been working full time for 2 years before I go to law school. I've been saving a lot of money. Also, if you have people around you like family who are willing to help you out, I think it helps. Again, its the debt that is really the biggest, scariest issue here, not the salary you are going to get after law school.</p>

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<p>Gracias sallyawp. As a college student, I found these excerpts to be informative.</p>

<p>Law school graduates who struggle to pay off their debt have themselves to blame. They could have avoided their miserable situation by thoroughly researching the legal field before enrolling in law school. </p>

<p>Law schools that manipulate their numbers are doing a disservice to their applicants. I'm surprised that they are not held more accountable.</p>

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Far too many people go into law school believing that they will be guaranteed financial success; they need a dose of reality.

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Same with business schools. A lot of people think getting an MBA will lead to million $$ paydays, they don't think of the 99% of the graduates will just make an ordinary income.</p>

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<p>part of the problem is that many of the prospective law students are people who have done well academically their entire lives who assume that they won't be the ones affected by all of this. their parents, teachers, classmates have told them how smart they are, how well they argue, debate, reason, that "the law" is where they are destined to shine. often they don't even have a full understanding of what it means to be a lawyer.</p>

<p>how many prospective law students post here saying -- "i haven't taken the lsat yet, but i'm hoping for over a 170" -- or "i'm just starting college, but assume i can maintain a 3.9..."? as if it is so easy?</p>

<p>even those who end up at lower tiered schools (because law school admissions is SO competitive these days) believe that they will rise to the top of their class, distinguish themselves and be the ones to succeed.</p>

<p>there are some mighty big egos heading to law school -- i think to some extent it comes with the territory -- they don't/won't believe that they won't rise to the top.</p>

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<p>hey what the wsj is saying is the TRUTH, my dad is an HR guy for TSA, and he says lawyers that have passed the bar apply for not so great positions with his federal govt contracting company....</p>

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<p>So because your dad sees SOME lawyers apply for not so great jobs it means that this article is solid truth?</p>

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<p>It seems that this was also a topic of conversation many years ago, with law schools graduating way more lawyers than were required. Why do you think there are so many neighborhood lawyers?</p>

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<p>I've dealt with recruiting at top law firms in NYC and I can tell you this is the absolute, God's honest truth. Be a lawyer if you are passionate, but also be realistic. Most law school graduates aren't going to be making the six figures to start and that's the truth. Law firms recruit from the same small pool of top graduates of top schools. If those people aren't hired, barring minority status, hiring doesn't progress down the ladder. There are also many, many (MANY) people who are hired at those jobs who find that they hate the work passionately and stay here miserably until their debt is paid off. Then there are the others who do well, stay in hope of partnership and then get a tap on the shoulder at year 8 and have to start over at that point. It's not easy and if you love it great, but the impact of debt is enormous. Anyone who discounts that is a fool. Of course, if you're one of the select few, the bonuses in the first year or two will pay off your debt and there you are.</p>

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Call me crazy, but I think when deciding to go to law school, income potential after graduation shouldn't be your deciding factor. Although I can understand it is important to some. I've just seen so many articles, things, etc. that seem to discourage going to law school, but I still want to go.

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Good for you Chris, this is probably a healthy and realistic attitude. I think that many law school hopefuls really do believe that they will be destined for big bucks jobs though, and so tend to discredit articles and statistics that state otherwise. There are always exceptions to the graduate and job data, but it seems to me that so many hopeful law students cling to the exceptions, hoping that it will become their reality. (In a way, it reminds me of all the students hoping to make it big in the entertainment/performing industry. Some will have enormous professional and financial success, but the reality is that those are few and far between. At least you chances at law are a bit better!)</p>

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<p>"Call me crazy, but I think when deciding to go to law school, income potential after graduation shouldn't be your deciding factor. "</p>

<p>I'm going to respectfully have to call you crazy. If you have serious debt, then income potential is a quality of life issue. If you've got $100k in debt and are making less than $50k a year with no benefits at a small firm, what kind of life are you going to have? I've personally known people who graduated from good law schools who worked as administrative temps, bartenders and cab drivers to pay off the debt. Not the life they were hoping for at the time of life when they might want to travel, marry, buy a home. If you're ok with that, fine, but it should be a consideration. Not necessarilyTHE consideration, but an important one and possibly the tip.</p>

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<p>So, no one who goes to law school is allowed to have a geniune interest in studying the law?? Everything should be motivated by money then right? You have a poor attitude. Who said I am going to be 100K in debt after law school anyway? I have a lot of money saved and I plan on saving for another year. Also, for a lot of schools, in state tuition is sometimes half of what regular admission is. And it is really odd how you and a lot of others on here spend all their time saying how you won't make any money after law school unless you go to a top school. You think I haven't already heard the pros and cons of law school a million times already? I'm not one of the guys who is expecting 6 figures after I get my degree. I am still shooting for a Tier-1 school, but not in the top 14. Will I make $100,000 after law school? Probably not. Will I be making more $30,000 after law school, yes. I know plently of people that didn't go to a top top school that are making a good living. You aren't going to persuade anyone, well, you won't persuade me at least. Are you even a lawyer? Have you even gone to law school zoosermom?</p>