Posted by:
elcharanguista
(
)
Date: October 04, 2010 01:22PM
LegitAsBalls - Law Clerk is doing his/her best to tell you like it is. Your comments lead me to believe that you have not done much due diligence with regards to law school and, more importantly, legal employment. I will admit that due diligence is particularly difficult as law schools mislead/lie about employment prospects, attorneys are reticent to bad mouth the profession to the face of a newbie, and the general public still thinks that lawyers make serious dough.
I recently graduated from BYU Law (Class of 2010), passed the bar a bit ago, and I am lucky enough to have a job. Say what you will about BYU, but it is ranked pretty well and it is cheap. Either way, about HALF my class still has no job. Probably 15-20% of my class will start out making pretty good money (75K+ - with some of them making well over 100K). The other ~30% of grads with jobs will make less than 75K (with even a larger percentage of them making 30-50K). And like I said, HALF of my class has NOTHING. When they do get jobs (and they will eventually because you have to buck up and take a job somewhere eventually), they will be underemployed (probably outside the law) and make a pittance compared to the "average" salary numbers reported by BYU's Career Services Office. And even at one of the cheapest law schools in the country, most of my friends still have more than 75K in debt. This is just a snap-shot of the 41st ranked law school in the country.
The last thing I want to say before I directly address your previous comments is that a law degree generally does NOT "open doors" outside the legal profession. If you go to a top school (think T-14), then it might, but it won't for the average law grad. Non-legal employers will wonder why you aren't practicing law if it is so lucrative and will think something is wrong with you. You will be "over-qualified" and under-qualified for many, many jobs. Law school just doesn't give you any truly marketable skills - IMHO it is a glorified liberal arts degree.
Yes there are plenty of folks who have had success outside the legal profession. But those folks just happen to have a law degree. It wasn't the degree itself in most cases that allowed those people to succeed. Many had connections or other skills or assets that would have allowed them to succeed no matter what degree they had. The causal effect is just not there in most cases.
As to the rest of your comments:
"The supply/demand numbers are exceptionally horrendous now due to the recession. Firms are not hiring."
Law Clerk already said it, but it deserves being repeated: the problems with legal employment, especially for recent grads, are not due to the recession. As LC noted, the recession has only exasperated a problem that already existed. The supply/demand numbers have been at least horrendous for some time now. This is the dirty little secret of the legal "profession".
"That being said, yes I am in a top100 school and the average starting salaries are around 74k. Average debt around 100k."
I have no idea where you go to school, but my best guess is that you go to a law school outside the top 50 or so. I say this because you could have pointed out your school was ranked much higher than ~100, but did not (correct me if I am wrong), and most of the top 50 law schools tout average salaries much higher than 74K (although the average salaries at any of those schools are certainly misleading if not outright fraudulent).
What you need to understand is that there is not much difference between the ~20th ranked school and the ~100th ranked school. If you do really well (i.e., top 10% grades) at any of the schools ranked between 20-100, you will have a pretty good shot at a six figure job right out of law school. The bar of success (i.e., top 10% grades) appears to be a bit lower (i.e., top 25% grades) the closer you get to the ~20th ranked schools. That might be the only difference between the ~20 and ~100 ranked schools. If you are outside of that 10-25% at any of the 20-100 ranked schools you will struggle to even get a job, let alone a high-paying one. There are exception no doubt, but the general rule stands.
"The debt doesn't concern me so much.
It should.
"This is basically a second career for me. My first being in engineering. So I can always fall back on that if it's really as horrible as you say."
I know plenty of folks who had worked in previous industries, went to law school, and then could not break back into their fields. Don't think it will be a cake-walk getting back into your previous field. I'm not saying it isn't possible, but don't think you will be able to just waltz right in there without a problem. The guys who couldn't get back into their fields all told me that the biggest problem was trying to convince people that their skills weren't stale after a 3+ year hiatus.
"I could work off that 100k in five years no problem."
Go check out a loan calculator. In order to pay off a 100K loan in five years at 8%, you are looking at a $2,027.64 a month payment. Unless you are making pretty good money, it would not be very easy to pay off a loan that large in five years.
"0% chance upward mobility? Seems a little extreme."
I agree.
"Never seeing my family? I doubt it's that bad."
For some it is, but for most it isn't that bad, I agree.
"So far I've enjoyed law school. When you were in law school did you like it? Why did you go to law school? I'm assuming since your name is LawClerk."
Law school is nothing like practicing law. Law school is pretty worthless in my opinion, and everything you learn there can be learned in just a few weeks time if you wanted. BarBri courses and the like do just that. I had a pretty good time in law school personally, but I am a huge critic of how the path to the legal profession is set up.
By the way, it is very difficult to just pick the area of law that you want to practice. Even for those lucky few who score great jobs, they very well may not get assigned to practice groups of their choosing. I know many, many people who tailored their classes and wrote papers on areas of the law in which they were interested, hoping to gain employment in that area of the law. With few exceptions, it didn't happen.
You can certainly have a desire to be a lawyer, and even enjoy law school immensely, but at the end of the day, you won't know whether you will actually enjoy being a lawyer until you are one.