Saturday, September 12, 2015

does it pay to go to law school?

Business Insider just published this video by comedian Sara Silverstein and Alex Kuzoian which describes how meaningful employment, as well as income returns, vary greatly among recent law school graduates. The chances of actually working as a lawyer soon after graduation are directly related to the ranking of the law school attended, e.g., while virtually all graduates from the highest rated schools are working as lawyers, only 50 percent of those from non-rated schools are doing so. High incomes also appear to be largely limited to only those graduating from a handful of elite schools. Mean income for lawyers is around $80,000 per year, but most lawyers actually make far less than that, clustering in the $40,000 to $60,000 range. Those making big money--$150,000 and up--generally are limited to those employed in prestigious law firms and corporations. However, as this earlier BI article by Erin Fuchs suggests, graduating from an elite school doesn't necessarily ensure a decent job.

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