LSAT Blog wrote:notaznguy wrote:Paul Campos wrote:I'm sincerely curious as to how the OP thinks he/she is going to service $180K of high interest non-dischargeable debt on a $60K salary (btw looking at their stats there's no way even half the class at Loyola LA was making as much as $60K a year after graduation, while maybe 10% of the class was making the $90K or more which most people who study these things would tell you is the absolute bare minimum salary that would justify incurring a $180K debt).
When you add to this that the O doesn't really have any particular desire to be a lawyer besides thinking for some unknown reason that these numbers add up to making a law degree at sticker from Loyola a good investment, well . . .
60k would just be starting...I'm sure eventually after a few years it'd be much higher. Come on, nobody is going to be hired at 60k and stuck at 60k for 40 years.
In terms of being a lawyer, it's not that I don't want to do it or hate it or anything like that. I just view work as work. Unless someone hired me as a professional Starcraft player, I don't think I have a real desire to work any job. I'd rather just lounge around and drink coconuts all day if it were up to me. Being a lawyer seems to fit some of the work environment I want - I am a History major and I enjoyed reading and writing and researching stuff. Being a lawyer seems to be like that, except you're getting paid to do it. I've interned at a law firm before and I've written some IRAC memos. It's boring, but I'd prefer it much over doing some chemistry problems.
Anyways like I said, the prospect of starting at 60k and gradually moving my way up to 90k is just so much more glorious than staring down at a 50k-60k salary as a social worker for the rest of my life.
Graph of data for the Class of 2010:
(sure, these are starting salaries, but how much room for growth can you assume there will really be if you start off in the 35-65k track?)
I didnt read much of this thread, but if you are a good lawyer/rainmaker (required to make good money in anything by the way), it is pretty dumb to assume ones starting salary would be the same the rest of his or her life, even adjusted for inflation. Starting salaries are starting salaries. There is no way to tell what someones long time earnings would be. However, I did see somewhere in this thread about not wanting to be a lawyer and a high level of debt. If this is true, don't go. LS is not a fall back plan and you certainly need to try to limit debt.