As a rising senior, I find myself in the peculiar predicament of having to ponder my future. My high school yearbook In 20 Years seems to shed no light on the matter. Despite pundits heralding an easing of the recession, it seems to be making no dent in the staffing policies of the corporate world. Unemployment has been holding steady in the mid-nines since May. Opinions differ on where it will go this month, but the labor market will nonetheless remain tough. Reading these numbers, I thought to myself, how can I insulate myself from this horrible situation? I know – maybe I’ll go to law school. Great idea, right? Apparently. A lot of people seem to think so, anyway. Overall applications have gone up 2% in the last year alone. Some law schools have enjoyed a nearly 30% rise in the number of applications received.
Is it worth it, though? According to the Bureau of Labor Statistics, the average salary for lawyers is $102,470, with the middle fifty falling between $69,910 and $145,600. On the scale of compensation, it seems to be worthwhile. Yet, the competition is fierce. The top law schools often have acceptance rates under 20 percent. Yet assuming we even make it that far, what then? One might want to practice in DC, where lawyers have no dearth of work. Bar passage rates average out to a dismal 56%. Tuition averages to nearly $60,000 a year. That’s $180,000 for three years of schooling. Then there are the hours: 37% of lawyers work more than 50 hours per week. Surely it must at least be satisfying then, right? Apparently not. According to an American Bar Association report, only 56% of lawyers are satisfied with their professions, and a dismal 42% would recommend the profession for young persons. Yet, 80% of lawyers are proud to be attorneys, and roughly the same amount found the profession intellectually stimulating. So, my advice? Be a lawyer only if you really care about the law. Otherwise, you’re better off doing something else.