Tuesday, February 11, 2014

A dozen years out, most law school graduates glad they went

Once again, we may be certain that actual evidence will have no effect on cyber-ranting, but it hopefully will have an effect on rational observers; among the preliminary results:

Graduates of the top 10 law schools who worked full-time earned median pay that was $73,500 more per year than graduates of Tier 4 schools. And among graduates of Tier 3 schools, grades made a big difference. In that group, those with the highest grade point averages had median pay that was $121,500 more than those with the lowest grades....

The 2012 respondents were largely happy with their decision to attend law school. Asked to rate their satisfaction with their decision to become a lawyer on a 1-to-5 scale, the average was 3.92.  Asked whether law school was a good investment on a 1-to-7 scale, the average was 5.5. Asked whether would go to law school if they had it to do over again using a 1-to-7 scale, the average was 4.91.

The findings show a movement from private practice to business since the first wave of the study. The percentage of respondents working in the business sector was 27.7 percent in 2012, compared to only 8.4 percent in 2003. At the same time, the percentage of respondents in private practice was 44.1 percent in 2012, compared to 68.6 percent in 2003.

The median remaining educational debt for the survey respondents in 2012 was $50,000, compared to $70,000 in 2003. Nearly 48 percent had no debt remaining in 2012, compared to only about 16 percent in 2003.


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