Jun. 24th 2010
Economic news continues to remain bleak. Forecasts for the coming year are slightly optimistic”>, but unemployment remains high (9.9 percent) and is only projected to drop slightly (9.1 percent to 9.5 percent).
With the gloomy employment outlook, many job seekers and recent graduates are returning to school for continued training or a graduate degree, with many choosing fields such as law, business, and medicine. The New York Times reported that the number of people taking the Law School Admissions Test rose 20 percent in October, compared with October 2008. Many law schools also reported a significant increase in application over last year, including Washington University in St. Louis (19 percent), the University of San Francisco School of Law (35 percent), the University of Iowa’s College of Law (39 percent), and Cornell University’s Law School (44 percent), just to name a few. 
But law school and other professional schools may not be the golden ticket they once were. Many professionals are questioning the value of the legal degree in light of continued layoffs, lower salary expectations, and increased competition. It all presents the question: Should you go to law school or not?
Law school demands
The first thing you should ask yourself is whether you can handle the academic rigor of law school.
Competition begins before you even enter with the Law School Admissions Test. Average scores for the top schools start at 160 — out of a possible 180. The average score is 150. Admissions rates for the top law schools fall under 30 percent, with many falling much lower.
Once you enter law school, be prepared for three years of full-time, rigorous academic study. Working hours are limited, as students are expected to devote the majority of their time to their classes and study. Failure rates are high. (Consider this classic caution given to first-year law students at the beginning of their classes: “Look to your left, look to your right, because one of you won’t be here by the end of the year.”)
Also consider that graduation is not the finish line: You still have to take the bar exam in the state in which you intend to practice.
Investment
Even at some of the lower-tier schools, law school is a significant investment. Tuition alone can cost over $100,000 for the three years, not including the cost of books, supplies, and living expenses. The average law student graduates with about $75,000 in debt, according to Law Boost.com. Not only can this create a significant financial burden while in school and once you graduate, it can also severely limit the job opportunities available to you once you graduate. With that much debt, it would be hard to choose a job in public interest or government, where salaries are as low as $30,000 to $50,000. Such debt loads force many graduates into jobs at large, private law firms, where the salaries are higher, but so is the demand to perform and bill large numbers of hours. The long working hours and strain lead to higher levels of stress, anxiety and depression — not to mention create a strain on (or an impediment to) family life.
How much you make is dependent on several factors, including the type of law you practice, where you work, and your geographic location. Typically, lawyers working in big private firms specializing in corporate law or litigation can expect to make the most. Public-interest jobs at non-profit organizations will usually pay the lowest.
The Bureau of Labor Statistics reported that the median annual salary of all lawyers in May 2008 was $110,590. Median annual wages in the industries employing the largest numbers of lawyers were:
Management of companies and enterprises: $145,770
Federal Executive Branch: $126,080
Legal services: $116,550
Local government: $82,590
State government: $78,540
For recent graduates, the salaries listed nine months after graduation were as follows:
All graduates: $68,500
Private practice: $108,500
Business: $69,100
Government: $50,000
Academic/judicial clerkships: $48,000
But all this assumes that recent graduates will actually find work. The New York Times reported that 4,600 lawyers were laid off last year. Better schools tend to have better job placement ratings, but finding work is still difficult.
Some good news: the BLS predicts a 13 percent increase in legal jobs by 2018.
Work life
The stereotypical depictions of lawyers working 80 hours a week in a high-pace, high-stress environment isn’t far from the truth. But, like salary, it depends on the kind of law you practice and where you work. Every private firm will have a required amount of hours that must be billed for the year — depending on the size of the firm and the market, this can be up to 2200 (or about 46 hours a week for a 48-week year, excluding vacations). Keep in mind that not every moment of you day will be billable. Most attorneys typically work up to 20 percent more than their billable hours (or about 55 hours, using that example). These speculations are for best-case scenarios. An 80-hour work week is possible (and typical for large firms), and even in government or public-interest jobs, a 60-hour work week is typical. A big case can consume a lot of time (hours long into the night) for months at a time, during which flexibility and time off are not options.
Irregular work hours and weekend work are typical. Many lawyers find balancing work and home life to be challenging, causing some lawyers with families to look for non-traditional work with non-profit organizations or in academia.
The upside to the unpredictable work schedule is that you’re also relatively able to set your own schedule and to have some flexibility. Outside of court schedules and deadlines, lawyers are relatively able to have flexibility in leaving during the day to tend to appointments, workouts, child care, etc.
Is it right for you?
When considering whether to go to law school, ask yourself what are your strengths. Are you a creative thinker, or are you analytical? Next, ask yourself what kinds of tasks you enjoy. Do you enjoy problem-solving, or would you prefer working with people? Discovering your aptitudes and your key personality traits will help you better understand if a legal career is right for you.
Besides being intelligent and academically curious, lawyers need to be:
* logical and critical thinkers
* good at dealing with people
* good negotiators
* able to understand a problem from multiple points of view
* able to detach emotionally from a case
* confident
* empathetic
Motivation
Finally, when you consider attending law school, ask yourself why you want to go.
There is only one good reason to go to law school: You want to be a lawyer. Many students confuse going to law school with the day-to-day practice of being a lawyer. The life of an attorney may sound glamorous: Big salary, prestigious position, work that makes an impact. But the reality is that you may not make as much money as you thought, and if you do, you’ll be working long and stressful hours. Even if you want to “make a difference,” the reality is that you’ll spend most of your time researching, filing documents, and holding meetings. Cases that will make legislative changes are rare, and they will likely be handled by attorneys with much more experience.
