Why Law?

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jjwork100
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Joined: Wed Jul 17, 2013 11:23 am

Why Law?

Postby jjwork100 » Thu Jul 18, 2013 2:24 am

Im currently in an undergrad studying business. Most of the kids from my program are going into I-banking on Wall Street. However, I've always wanted to be a lawyer. Now that I'm old enough to look at things objectively, I keep hearing over and over again that law school and the legal profession is a bad idea. Hiring is down, no job prospects after 3-5 years in BigLaw, etc. etc.

My question to you is WHY do you want to study law? Why corporate law? Why BigLaw? The money is better in I-banking and the hours are better in other professions.

Thanks for your help

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Clearly
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Joined: Sat Feb 11, 2012 4:09 pm

Re: Why Law?

Postby Clearly » Thu Jul 18, 2013 2:38 am

Search function^

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Kikero
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Joined: Mon Mar 01, 2010 12:28 am

Re: Why Law?

Postby Kikero » Thu Jul 18, 2013 3:29 am

jjwork100 wrote:no job prospects after 3-5 years in BigLaw, etc. etc.


Yes, that is the main thing you should be worrying about. Absolutely no one wants to hire someone with 3-5 years of Biglaw experience.

lolwat
Posts: 604
Joined: Tue Nov 16, 2010 2:30 pm

Re: Why Law?

Postby lolwat » Thu Jul 18, 2013 8:46 am

lol

also

making more money doing something i give zero shits about < making less money doing something i like
Last edited by lolwat on Thu Jul 18, 2013 10:14 am, edited 1 time in total.

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Frothingslosh
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Joined: Wed Jul 03, 2013 10:10 am

Re: Why Law?

Postby Frothingslosh » Thu Jul 18, 2013 8:53 am


Anonymous User
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Re: Why Law?

Postby Anonymous User » Thu Jul 18, 2013 9:58 am

.
Last edited by Anonymous User on Thu Jul 18, 2013 10:26 am, edited 1 time in total.

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dood
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Joined: Tue Apr 21, 2009 11:59 am

Re: Why Law?

Postby dood » Thu Jul 18, 2013 10:06 am

lolwat wrote:lol

also

making more money doing something i give zero shits about > making less money doing something i like


I disagree, but I understand your way of thinking. when I was poor, fresh out of college, and hadn't realized how easy it was to make money - making a lot of money was also very important to me. once you make it, it becomes far less important than things like personal satisfaction, work-life balance, etc. You're probably thinking "fuck what this guy thinks, money rules" and that's fine, it's the way I once thought too.

lolwat
Posts: 604
Joined: Tue Nov 16, 2010 2:30 pm

Re: Why Law?

Postby lolwat » Thu Jul 18, 2013 10:14 am

Oh wait, shit, I meant to put a < instead of a >. Too early in the morning. EDITED.

My post makes no sense otherwise. I was trying to say that I went into law because I have (some) fun doing this stuff. I wasn't having any fun with my undergrad major and I don't think I would've wanted to go into ibanking, at least in terms of enjoying work.

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Bronte
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Joined: Sun Jan 04, 2009 10:44 pm

Re: Why Law?

Postby Bronte » Thu Jul 18, 2013 10:50 am

I studied finance in undergrad and decided to go to law school intent on doing big law. The reason was that, while I enjoyed financial analysis, I enjoy writing and qualitative analysis more and I'm better at it. You need to decide whether you'd prefer to do numbers or words. I also have an interest in the regulatory aspects of finance. You might consider whether you're more interested in business and investing or in the rules governing business and investing. In retrospect, I believe I made the right choice, but it certainly wouldn't be for everyone.

As to the economic issues you raise, the disparity between pay in big law and investment banking is greatly exaggerated. Likewise, investment banking is no more a stable, lifestyle profession than big law. I wouldn't put too much thought into that aspect of it.

You should know, however, what you're getting into with the law. First, most gainful employment in the law tends to be business and finance oriented. Having a finance major is good, but if you don't like it you might consider that big law is going to involve some similar stuff. Second, the law involves a ton of technical reading and writing. If you don't like technical writing, including the more mundane aspects like formatting, grammar, citations, and the like, this is something you should be acutely aware of. Third, the law is extremely detail oriented. It's not uncommon to find yourself writing five pages on the meaning of a word. Fourth, practicing law is not sexy. You are not going to be doing anything remotely like what goes on in Suits or the Good Wife or Scandal. You are going to be sitting at a desk by yourself most of the time.

Good luck.

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AreJay711
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Re: Why Law?

Postby AreJay711 » Thu Jul 18, 2013 10:55 am

I was talking to some investment banking bros last night. They do seem to make significantly more money than lawyers.

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Bronte
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Re: Why Law?

Postby Bronte » Thu Jul 18, 2013 11:04 am

AreJay711 wrote:I was talking to some investment banking bros last night. They do seem to make significantly more money than lawyers.


That's debated somewhat thoroughly in this similar thread: viewtopic.php?f=5&t=213255. I don't think it's worth getting into, but suffice it to say the disparity tends to get exaggerated on TLS, where the grass is always greener.

NotMyRealName09
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Re: Why Law?

Postby NotMyRealName09 » Thu Jul 18, 2013 12:17 pm

I went into law because I realized it was probably a field I could excel in given my personality, education, and skills. I couldn't do investment banking for shit - I don't have a mind for numbers, I'm a words man. I also like working at the interface between the citizenry and their government, going to court, compelling things to happen. And as mentioned above, there is a lot of solitary desk time just because of the nature of the work, and I'm ok with that. I make good money, BUT that was incidental - when I started law school I would have been happy just having a job. Getting a great job was a bonus. I'm just saying, if cashing in is your primary goal - in any profession - you might be miserable with your life if that doesn't happen and now you have to work doing something you detest because you're in too deep to go back.

It's good you're thinking about this. You need a good, personal answer for why you want to become a lawyer, and it simply has to be more than making money.

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ExBiglawAssociate
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Re: Why Law?

Postby ExBiglawAssociate » Thu Jul 18, 2013 4:15 pm

Kikero wrote:
jjwork100 wrote:no job prospects after 3-5 years in BigLaw, etc. etc.


Yes, that is the main thing you should be worrying about. Absolutely no one wants to hire someone with 3-5 years of Biglaw experience.


Although false, this is actually becoming much truer than it used to be.

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bk1
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Joined: Sun Mar 14, 2010 7:06 pm

Re: Why Law?

Postby bk1 » Thu Jul 18, 2013 8:30 pm

Read stickies before posting.




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