NR3C1 wrote:The overall full-time, long-term legal rate is 55.2%.
The overall underemployment rate is 26.4%.
These numbers are awful. Thinking of investing 3 years and 200K; think again? Going to and completing law school gives one a 50/50 chance of working as a lawyer.
The thing to be careful with here, is to not apply the overall statistics and say, shit, that's the state of the legal market?
There are schools that boast much better employment prospects (e.g. HYS) and there are schools that are much worse.
There are very few who would argue against paying $200k for HYS, while there are plenty of schools I wouldn't attend for free, even if they threw in a cost of living stipend.
While it's good to know the overall state of the legal market, in terms of whether it's a good idea to go or not, look to the individual schools and the actual cost (COA - Scholarships; factor in any stips)
Yes, if you are last in your class, you will end up unemployed at almost every school. On the flip side, if you're first in your class at most schools (there are exceptions), you should be able to land a decent job.
But, go in figuring you'll end up median and look at the most likely outcome. Then factor in the probability of ending up at up-side potential and down-side risk and look at where that would place you.
Then make up your mind if the school is a good idea.
LST is a great tool. So is the ABA data. today, there's no excuse for coming out crying that you shouldn't have gone to law school.