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Law school applicants surge 13%, biggest increase since dot-com bubble

reuters.com

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Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#281

Post by flavius29663 »

sizzle wrote: post #273
Retric wrote: post #199

Earlier quoted context omitted.

Lumping your comparison to include people without high school degrees with lawyers is making a huge mistake. At a minimum the comparison should be between collage graduates and lawyers minus the opportunity cost of law school. Consider, when comparing starting salary your accountant or whatever not only makes money in both years a lawyer is in law school they also likely have two raises before the lawyer gets his fir…

Also factor in cost of living and rent. That ~$72k is not going to fly in SF or NY after rent if you are trying to start a family and not have 3 roommates.

I don't see how this is relevant. Of course lawyers must make more in a HCOL to make ends meet, but how is this different than any other profession? Are there significantly more lawyers in HCOL areas?

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#282

Post by sizzle »

flavius29663 wrote: post #281
sizzle wrote: post #273

Earlier quoted context omitted.

Also factor in cost of living and rent. That ~$72k is not going to fly in SF or NY after rent if you are trying to start a family and not have 3 roommates.

I don't see how this is relevant. Of course lawyers must make more in a HCOL to make ends meet, but how is this different than any other profession? Are there significantly more lawyers in HCOL areas?

The demographic you refer to are renters because their debt to income ratio is not sufficient for a mortgage. After going to law school, having to scrape by and pay back student loan debt + HCOL rent is how you are entering your adult life with a law degree. Your entry level salary is still depressed relatively speaking to an entry level software dev in HCOL area. If your spouse is not the breadwinner you are in trouble.

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#283

Post by flavius29663 »

sizzle wrote: post #282
flavius29663 wrote: post #281

Earlier quoted context omitted.

I don't see how this is relevant. Of course lawyers must make more in a HCOL to make ends meet, but how is this different than any other profession? Are there significantly more lawyers in HCOL areas?

The demographic you refer to are renters because their debt to income ratio is not sufficient for a mortgage. After going to law school, having to scrape by and pay back student loan debt + HCOL rent is how you are entering your adult life with a law degree. Your entry level salary is still depressed relatively speaking to an entry level software dev in HCOL area. If your spouse is not the breadwinner you are in trou…

I still fail to see the reasoning here. Most other young professionals are in the same boat: debt out of college, smallish starting salaries, renting, HCOL areas.

Lawyers have higher salaries than most other professions, though. They are 10% better paid than software developers. We have a huge amount of really well paid developers in SF, Seattle and NYC, and lawyers still have a higher median salary.

https://www.bls.gov/ooh/legal/mobile/lawyers.htm

https://www.bls.gov/ooh/computer-and-information-technology/...

https://www.bls.gov/ooh/computer-and-information-technology/...

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#284

Post by cudgy »

llimos wrote: post #102
cudgy wrote: post #67

Earlier quoted context omitted.

Or most software developers.

That's an interesting question. Some software is valuable according to this definition, e.g. Google search. Some is not, e.g. Google ad algorithms. Software is an enabler . It depends what it's enabling. Would be interesting to know the proportions.

Google search may be useful in the present time it is used, but Google logs people’s searches and effectively spies on the most personal thoughts and ideas people have. This could prove to be dangerous to those that are considered to be outside of mainstream society, etc.

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#286

Post by GaryTang »

rchaud wrote: post #227
brightball wrote: post #127

I always thought law would be beneficial as a business owner, but not as a profession by itself.

It would, you can take a community college course in business law and save yourself a lot of time.

There are many aspects of law that pertain to business outside of a general business law course

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#287

Post by GaryTang »

xyst wrote: post #38

another red flag of an impending crash?

Interesting how you came to this conclusion, can you elaborate? I can understand the argument for how increasing law/regulations is detrimental for society in the longrun(ex. europe) but to directly cause a crash is a bit dramatic

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#288

Post by GaryTang »

gverrilla wrote: post #116

I was in law school for 2 semesters. I got a job at a top m&a and societary office, in one of the highest profile avenues in the tropical capital I lived in, as an intern. It was summer, lunchtime, and I was walking on said avenue when my boss crossed me. He stopped and all of a sudden reached for my tie knot, to check if the button behind it was correctly buttoned (is this the right word?). He proceeded to tell me I…

This cracks me up because I had an individual in my fraternity who was an advocate to integrity to the highest degree. “How we conduct ourselves when no one is watching” type of individual. Your boss had good intentions but it just comes off as too much for the average joe like you or I.

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#289

Post by gverrilla »

GaryTang wrote: post #288
gverrilla wrote: post #116

I was in law school for 2 semesters. I got a job at a top m&a and societary office, in one of the highest profile avenues in the tropical capital I lived in, as an intern. It was summer, lunchtime, and I was walking on said avenue when my boss crossed me. He stopped and all of a sudden reached for my tie knot, to check if the button behind it was correctly buttoned (is this the right word?). He proceeded to tell me I…

This cracks me up because I had an individual in my fraternity who was an advocate to integrity to the highest degree. “How we conduct ourselves when no one is watching” type of individual. Your boss had good intentions but it just comes off as too much for the average joe like you or I.

Not only that. He didn't ask for permission and acted fast. I don't know where you live but I'm pretty sure I would be excused if I had punched him, these are not safe lands. We didn't exchange a few words, or even eyesights - I was not aware he was approaching until he was. Also this particular button hurts by adam's apple so this is stupid as fuck as it is hidden all times by the knot. How you dress has nothing to do with integrity - that's a stupid idea.

Re: Law school applicants surge 13%, biggest increase since dot-com bubble

#290

Post by Fomite »

gnicholas wrote: post #65
Fomite wrote: post #59

Earlier quoted context omitted.

A few caveats to this, in addition to the spouse problem: 1) You are shackled to this for ten years. Dropping out early isn't just bad - it's a financial catastrophe. 2) It's based on qualified payments, not "time served" or the like, and there's lots of things that can disrupt those. Plan to fight with your loan servicer. 3) Republican administrations tend to do a will they/won't they thing with approving the actual…

I wasn't referring to the governmental assistance programs (which have these risks/limitations), but rather the programs run by the elite law schools themselves. They will actually pay a portion of your loan payments if you work in a qualified job. I don't know which schools currently offer this, but 15 years ago (when I was dating a HLS grad), they operated this way. I would guess that HYS and probably a handful of…

My spouse went to an elite law school, and their answer was "There's the public service loan forgiveness program. Good luck with that."
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