TheProsecutor wrote:So what? My argument was that biglaw is not stable. Are you agreeing with me or just arguing that other industries are unstable as well? Or are you saying biglaw is more stable than the finance sector? I'm just trying to understand here.
Also, I don't understand your point about biglaw being less risky. Sure, but most people didn't have to pay 230k to get a 2% increase in job security....
The point of all this, in my view, is that it is unwise to pay sticker price for NYU. The debt burden is too high, the prospects for a job are not as great as they used to be, the stability of the job isn't there, the satisfaction level in jobs that can help pay down the debt is poor. NYU is a great school if you can get a scholarship or some grant aid to defer some of the cost...but going 200k in for NYU...I wouldn't advise anyone to do it.
The point is that "stable" is a relative term. If we define stability such that big law is not considered stable, even when the economy as a whole shed 50% more jobs on a per capita basis, then that definition isn't very meaningful. By your definition of "stable" pretty much only the medical profession is "stable."
Your problem is that you're comparing big law circa 2012 to big law circa 1995, rather than to its alternatives circa 2012. Everyone's debt is higher, everyone's job prospects are lower, everyone's job stability is lower, everyone's job satisfaction is lower. In the last 20 years consultants have destroyed pretty much the whole country. If you think big law is bad, imagine working a job where people keep track of your bathroom breaks! My friends from college all have good jobs for our age (graduated during the boom from a state flagship), and they work big law hours for a fraction of the pay and worse benefits. I had a great job before law school as an engineer, with great benefits, but I worked 60+ hours a week. And even after debt service I'll be making more at a firm.