Rocketman11 wrote:
some people in this thread need to read some threads in the Legal Employment forum. Honestly. There you will fine post after post after post of people going to PMDNVCG, at or above median, who are completely unable to find work. The notion that T14 at sticker is almost always better than a T20 1/2 tuition is ignorant. Do you have a BETTER SHOT at biglaw coming out of a T14? Yes. But is 5% really much better than 1%? Or should I say, is it worth $75,000 for that extra 4%/tiny boost (obviously my numbers are not real)? IMO if you can't get into HYSCCN, you should hedge your bets and go to a good school that will give you at least half tuition. If you look at local law firms (where most of you will be forced to end up applying, T14s included), many of those baby boomer lawyers don't give a shit about USNWR rankings and couldn't tell you what school is ranked higher than another. The TLS "T14-or-fail" mindset is not normal.
You seem to be confused about things a bit.
The difference between T14 and lower-T30 hiring is a lot bigger than "5% vs. 1%" as you make it sound. From what I've been hearing, here at UVA it's been folks in the top 25-30% of their class that have been getting job offers; on the other hand, some firms that did OCI/OGI at T14 schools have cancelled out of it altogether at schools like WUSTL and UIUC. There are firms that
aren't hiring at all at non-T14 schools right now. That's a pretty stark difference, and given the prestige-driven nature of law hiring in general, that's likely to continue for a while and only gradually ease up as the job market recovers.
Not only that, but if law firms aren't hiring as many people in general, that means fewer T14 graduates getting jobs than usual, and they're still going to be looking for work. Where are they going to go? To those MidLaw/gov't/PI jobs that normally would've been grabbed up by T30 grads because the T14 grads wanted more money. Just because T30 grads have historically been getting those jobs doesn't mean they have an equal chance at them now, the T14 prestige is still going to win out in a lot of those cases and it's going to end up displacing T30 grads from more than just the BigLaw markets.
All that said, $75,000 may still sound like a lot on its own but it's not when you consider it's a difference between $125,000 and $200,000 in debt. Either amount is so large that you're not going to be able to pay it off without help, and that help is available in the form of IBR. With IBR, whether your debt is $125,000 or significantly more, you can get a fixed monthly payment based on your income that's manageable. Unless you get BigLaw-type salaries you're going to need IBR to manage your loan payments whether you go to a T30 or a T14. $75,000 is not a lot of money when (Toomuch - $75k) still = Toomuch.
Given that, isn't it obviously better to go to the T14 for its better post-graduation employment opportunities? That way you have a better chance at getting a reasonable job initially and building up experience and networking, which are important not just upon graduation but through your entire legal career. The T14 degree gives you the potential in the long run to make hundreds of thousands of dollars more money and to have better chances at state or federal jobs with better benefits and a stronger career ladder. These are things that have to be considered when choosing a school, not just where you're going to go when you graduate.