Emma. wrote:You really think the pay differential between Harvard and UChi is going to come anywhere close to making up for $180K + compounding interest?
More doors are opened with a HLS degree, especially if you finish toward the bottom of your class. The degree has greater portability. I would be interested in seeing what the average income of HLS grads vs. Chicago grads is over the course of their 30-40 year careers. I wouldn't be at all surprised if there is a 200k+ difference, on average. Even if the difference is smaller, that should still be taken into consideration. While Ruby recipients who got into Harvard will probably perform better in school and career, there is still a great deal of uncertainty. I doubt that Chicago students are much less intelligent than Harvard students, and with fiercer competition at Chicago, one will probably have to perform at a much higher level to finish in the top of the class.
Emma. wrote:I know that as an 0L the prestige factor of HLS is really hard to turn down. It seems way more appealing to tell your friends that you are going to Harvard than University of Chicago, and that creates a pretty strong confirmation bias. It'd be great if you guys that are making this decision could talk to recent HLS grads who paid close to a full ride and ask them what they would have done if they had been in your shoes.
Don't underestimate the benefits of being debt free. The "either way I'm going to be super rich so the difference is just me driving a Rolls or a Mercedes" is pretty unrealistic.
I have talked to HLS students who turned down the Ruby and not a one told me he/she regretted the decision. Perhaps the same could be said about people who took the Ruby, though.
In regards to your last point, I'm not saying either way you will be super rich, I'm saying you will not have to worry about providing for your basic needs, and so the question becomes what matters to you more, greater material well-being or the prestige and career benefits of a HLS degree.
Yes, HLS provides more security, but there is going to be significant overlap in career outcomes between H and C. $250k in debt (over $300k after you've paid it all off) is nothing to scoff at. Most people are out of biglaw after 3 years. Have fun with $100-150k in debt looming over your head while you're lateraling as opposed to pocketing and investing the money if you went to Chicago.
Agreed there is significant overlap, but a HLS degree confers higher earning potential and more options than UChicago + Ruby at corresponding ranks in the class. Also, not everyone who attends HLS will take on 250k in debt.
unc0mm0n1 wrote:With a Ruby you do three years of Big Law save up 150k and go and save the world while not having to live like a pauper. Or you can take a non legal job with an NGO and not worry that LRAP won't cover it.
Pauper is an inappropriate word here. I doubt most people who graduate from HLS with large debt loads have to live a lifestyle any of us would consider modest.
Also, Harvard is much better for PI type work.
brb. I'm going to go through my 0L posts and see if I said things like this.
I hardly expect unbiased opinion from a Chicago student.