Found this.. thought it was interesting...

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charlesjd
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Found this.. thought it was interesting...

Postby charlesjd » Wed Mar 10, 2010 2:07 am


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JPeavy44
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Re: Found this.. thought it was interesting...

Postby JPeavy44 » Wed Mar 10, 2010 4:40 am

Interesting...I have a lot of friends in dental school and none of them worry about jobs/grades as much as we do because they are pretty secure upon graduation. But then again, I wouldn't want to look into mouths everyday for the rest of my life...

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 11:46 am

Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.

nycparalegal
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Re: Found this.. thought it was interesting...

Postby nycparalegal » Wed Mar 10, 2010 11:53 am

Well, keep in mind that there is a significant chance of a double-dip recession.

09042014
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Re: Found this.. thought it was interesting...

Postby 09042014 » Wed Mar 10, 2010 11:59 am

chicagolaw2013 wrote:Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.


135K in debt is an awful lot to get a job that pays 50K in Chicago.

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sanpiero
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Re: Found this.. thought it was interesting...

Postby sanpiero » Wed Mar 10, 2010 12:02 pm

nycparalegal wrote:Well, keep in mind that there is a significant chance of a double-dip recession.


source? i keep seeing this here on TLS w/o support. the only reasoned argument I can see in support of this possibility is the inflation-induced recession argument. but, let's be honest, there has been a ton of spending and inflation has been kept at bay. so, any inflation-induced recession would not, IMO, occur for some time in the future, and if it did occur would likely be far less serious than the recession we just came out of

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 12:03 pm

Again, if the future looks awful in 2 or so years, when I'm looking for 2L summer work (and hopefully an offer for post-grad employment), I'll be worried...but the fact of the matter is that A LOT can change in 2 years. Yes, it might stay the same sad situation we are in right now, but everything could rebound to some extent.

As for the double dip recession, I understand where you are coming from on that - a somewhat likely, and quite scary scenario.

I have to ask all of the doomsdayers this, though...remember the 1930's/The Great Depression? Remember the early 1980's? Horrible economic times, but we pulled through it. Even if the economy is awful for a while, something comes along to right the ship. Even if the 5 years, for example, after I graduate are horrendous, I will still have a better life in the long term than I would have had if I did not go to law school. The recession affects everyone, but it affects the least educated people the most (unfortunately, since they need the most help) and the most educated people the least. I want to put forth the best resume "package", if you will, to employers, whether in the legal field or not (hopefully in the legal field, but if the economy is THAT bad, I'll do what I need to pay the bills until things get better). I'm not going to let fear scare me out of doing something I've dreamed of for a very long time, and something I would feel validated doing, regardless of the paycheck.

EDIT: I think it's amusing that this recession=end of the world to so many people. I can't even imagine what my grandparents must have thought during the Depression. They were about my age then.

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sanpiero
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Re: Found this.. thought it was interesting...

Postby sanpiero » Wed Mar 10, 2010 12:07 pm

Desert Fox wrote:
chicagolaw2013 wrote:Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.


135K in debt is an awful lot to get a job that pays 50K in Chicago.


At least it's not 180k.

Maybe he has a relative in the business.

Flanker1067
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Re: Found this.. thought it was interesting...

Postby Flanker1067 » Wed Mar 10, 2010 12:08 pm

I didn't need that article to make me aware that being a dentist is a better career path then being a lawyer. That one should be obvious. However, not having a science background isn't going to get me into dental school, whereas it takes almost nothing but being good at one of the most basic human abilities (logic) to get me into law school. Such is life.
Add: Just trying to do the best I can.

09042014
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Re: Found this.. thought it was interesting...

Postby 09042014 » Wed Mar 10, 2010 12:09 pm

sanpiero wrote:
Desert Fox wrote:
chicagolaw2013 wrote:Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.


135K in debt is an awful lot to get a job that pays 50K in Chicago.


At least it's not 180k.

Maybe he has a relative in the business.


Well honestly hoping for assistant states attorney is probably a good bet for him too. IBR would wipe it out.

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 12:10 pm

Flanker1067 wrote:I didn't need that article to make me aware that being a dentist is a better career path then being a lawyer. That one should be obvious. However, not having a science background isn't going to get me into dental school, whereas it takes almost nothing but being good at one of the most basic human abilities (logic) to get me into law school. Such is life.
Add: Just trying to do the best I can.


LOL agreed...I mean, law has always been what I wanted to do with my life...but I guess because science was a complete disaster for me through high school, dentistry and medicine haven't really been options, either.

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 12:12 pm

sanpiero wrote:
Desert Fox wrote:
chicagolaw2013 wrote:Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.


135K in debt is an awful lot to get a job that pays 50K in Chicago.


At least it's not 180k.

Maybe he has a relative in the business.


No relatives, but my best friend's dad is a divorce attorney, and I want to do family law (including divorces), so I guess you could call him an honorary relative? He's on the east coast, and I want to stay in Chicago if at all possible though, so he would be my last resort (if I wasn't able to find anything else, and was so desperate for a job that I moved home to New Jersey).

And debt for me will be about 75k after scholarships are figured in.

09042014
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Re: Found this.. thought it was interesting...

Postby 09042014 » Wed Mar 10, 2010 12:14 pm

chicagolaw2013 wrote:
sanpiero wrote:
Desert Fox wrote:
chicagolaw2013 wrote:Applicable if you're looking at Biglaw...but that's about it. I have ZERO desire to do Biglaw, so I'm not as worried. Granted, I know that the economy blows and yada yada yada, but I'm not gonna freak out until mayyyybe 2L if the economy really is showing no signs of improvement, and small firms are closing up shop or something. I still have about 2 years til I get to that point, so no use in driving myself bonkers right now. I've wanted to be a lawyer since I was a little kid...no blog from some disgruntled guy who's out of work is going to make me turn my back on that.


135K in debt is an awful lot to get a job that pays 50K in Chicago.


At least it's not 180k.

Maybe he has a relative in the business.


No relatives, but my best friend's dad is a divorce attorney, and I want to do family law (including divorces), so I guess you could call him an honorary relative?

And debt for me will be about 75k after scholarships are figured in.


75K is a lot more reasonable. I just took the COA for Depaul and subtracted 45K. I didn't realize you had other scholarships.

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 12:18 pm

Desert Fox wrote:
chicagolaw2013 wrote:
sanpiero wrote:
Desert Fox wrote:
135K in debt is an awful lot to get a job that pays 50K in Chicago.


At least it's not 180k.

Maybe he has a relative in the business.


No relatives, but my best friend's dad is a divorce attorney, and I want to do family law (including divorces), so I guess you could call him an honorary relative?

And debt for me will be about 75k after scholarships are figured in.


75K is a lot more reasonable. I just took the COA for Depaul and subtracted 45K. I didn't realize you had other scholarships.


I don't have other schollys, I'm just not taking out loans for rent and all that jazz. Thank god for my very very generous boyfriend who will be working and paying the bills while I'm in school. He figures I'll pay him back afterwards with babies. :) lol (I should mention, I'm a girl not a guy hahahaha)

09042014
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Re: Found this.. thought it was interesting...

Postby 09042014 » Wed Mar 10, 2010 12:22 pm

chicagolaw2013 wrote:
Desert Fox wrote:
chicagolaw2013 wrote:
sanpiero wrote:At least it's not 180k.

Maybe he has a relative in the business.


No relatives, but my best friend's dad is a divorce attorney, and I want to do family law (including divorces), so I guess you could call him an honorary relative?

And debt for me will be about 75k after scholarships are figured in.


75K is a lot more reasonable. I just took the COA for Depaul and subtracted 45K. I didn't realize you had other scholarships.


I don't have other schollys, I'm just not taking out loans for rent and all that jazz. Thank god for my very very generous boyfriend who will be working and paying the bills while I'm in school. He figures I'll pay him back afterwards with babies. :) lol (I should mention, I'm a girl not a guy hahahaha)


He will pay for everything? Even clothes, drinks out with friends, cell phone bills? If so he is a [strike]nice guy[/strike] pushover. Keep that guy happy.

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 12:29 pm

Desert Fox wrote:
chicagolaw2013 wrote:
I don't have other schollys, I'm just not taking out loans for rent and all that jazz. Thank god for my very very generous boyfriend who will be working and paying the bills while I'm in school. He figures I'll pay him back afterwards with babies. :) lol (I should mention, I'm a girl not a guy hahahaha)


He will pay for everything? Even clothes, drinks out with friends, cell phone bills? If so he is a [strike]nice guy[/strike] pushover. Keep that guy happy.


I don't plan on doing much of anything but studying and holding my current part time job teaching ACT prep here and there in the evenings. The occasional night out should then be paid for with my part time earnings. We've lived together for 2 years, and he's no pushover. He understands how law school works, and that he will be the financial burdenholder for 3 years. He knows I'm not going anywhere anytime soon...he will get paid back for his generosity. I'd go for the "nice guy" description. :wink:

EDIT: And as for clothes, I'm not that much of a clothes-whore. I mean, I get stuff I need, not crazy $1000 shoes or something. I'm a girl, I'm not an insane person...two different things hahahaha.

nycparalegal
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Re: Found this.. thought it was interesting...

Postby nycparalegal » Wed Mar 10, 2010 12:48 pm

sanpiero wrote:
nycparalegal wrote:Well, keep in mind that there is a significant chance of a double-dip recession.


source? i keep seeing this here on TLS w/o support. the only reasoned argument I can see in support of this possibility is the inflation-induced recession argument. but, let's be honest, there has been a ton of spending and inflation has been kept at bay. so, any inflation-induced recession would not, IMO, occur for some time in the future, and if it did occur would likely be far less serious than the recession we just came out of



okay here is a recent article:

Poor economic data in the US coupled with Europe's debt crisis are contributing to an increase of the risk of the US economy going through a double-dip recession, Nouriel Roubini, who predicted the 2007 financial crisis, wrote in a research paper. At best, the US economy is headed for a U-shaped recovery this year, Roubini said. That has been his prediction in recent months. The US faces challenges in the second half, especially as fiscal stimulus measures fade, and "appears far too close to the tipping point of a double-dip recession," he said. The euro zone is also facing an increased risk of a double-dip fall, because of its ongoing debt crisis, he wrote. Even if the euro zone does not suffer a double dip, growth in demand will be even more limited and this will hurt the United States' potential for export growth, according to Roubini's paper. The Roubini Global Economics benchmark scenario puts the risk of a double dip at 20 percent, while a slow, protracted, U-shaped recovery is given the highest probability of 60 percent. But since the end of February new macroeconomic data from the US have come out and "they have been almost uniformly poor, if not outright awful," Roubini wrote. Consumer confidence has "tanked", new home sales are "collapsing," existing home sales are also falling sharply, as is construction activity, while initial jobless claims remain "stubbornly high" above the 400,000 mark, he said.

http://m.cnbc.com/us_news/35792768/1

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sanpiero
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Re: Found this.. thought it was interesting...

Postby sanpiero » Wed Mar 10, 2010 3:10 pm

i stand corrected. didn't realize Roubini was making that call. 20% seems reasonable

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sanpiero
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Re: Found this.. thought it was interesting...

Postby sanpiero » Wed Mar 10, 2010 3:13 pm

75k is MUCH better. I think your investment, OP, is a good one and your lack of anxiety over the economy reasonable

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chicagolaw2013
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Re: Found this.. thought it was interesting...

Postby chicagolaw2013 » Wed Mar 10, 2010 4:14 pm

sanpiero wrote:75k is MUCH better. I think your investment, OP, is a good one and your lack of anxiety over the economy reasonable


Thanks bud. I'm not that worried because history has proven (although the past doesn't necessarily predict the future, I get this, but using it as an example for the similar situation we are in) that the economy does rebound...it may take months, it may take years, but it will rebound eventually, and it will very likely rebound in my lifetime, so the investment in LS for me, I feel, is still a good one. I'm going to control what I can, and not get anxious about that which I cannot control.

gregw8705
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Re: Found this.. thought it was interesting...

Postby gregw8705 » Mon Mar 15, 2010 8:15 am

nycparalegal wrote:Well, keep in mind that there is a significant chance of a double-dip recession.


TITCR.

The current administration and Congress are hell bent on following a Keynsian/FDR-style economic recovery strategy. Big government programs, new entitlements, and deficit spending extended the Great Depression, and I don't see dismantling the healthcare system, "jobs" bills, "stimulus" packages, cap and trade, or anything else that's been proposed or passed achieving a different result. FDR owes his legacy as the President who ended the depression to some European fascists and the Japanese for giving him WW2. Without a change in policy or WW3, there's really no definitive end in sight for the economic downturn.

On the other hand, while Barry O has the Fed printing money at breakneck speeds, the IBR program or inflation will take care of our debt. If the dollar keeps falling, my 120k law school debt will probably be the equivalent of a month's salary in a few years (kidding, but the falling dollar's one good side is that it will slightly ease the debt burden).

angioletto
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Re: Found this.. thought it was interesting...

Postby angioletto » Mon Mar 15, 2010 8:23 am

Isn't dentistry the profession with the highest rate of suicide?

--LinkRemoved--

BobSacamano
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Re: Found this.. thought it was interesting...

Postby BobSacamano » Mon Mar 15, 2010 10:58 am

I don't mean this in any sort of offensive way, but I have never heard of Drake Law School, where that blogger graduated from. That doesn't mean his arguments are without merit, but that'll definitely color his perception of law school and the legal market.

SweetnessUVA
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Re: Found this.. thought it was interesting...

Postby SweetnessUVA » Mon Mar 15, 2010 1:15 pm

angioletto wrote:Isn't dentistry the profession with the highest rate of suicide?

--LinkRemoved--


So that's why its so hard to get an appointment!

dontknowwhereimgoin
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Re: Found this.. thought it was interesting...

Postby dontknowwhereimgoin » Mon Mar 15, 2010 4:19 pm

chicagolaw2013 wrote:
sanpiero wrote:75k is MUCH better. I think your investment, OP, is a good one and your lack of anxiety over the economy reasonable


Thanks bud. I'm not that worried because history has proven (although the past doesn't necessarily predict the future, I get this, but using it as an example for the similar situation we are in) that the economy does rebound...it may take months, it may take years, but it will rebound eventually, and it will very likely rebound in my lifetime, so the investment in LS for me, I feel, is still a good one. I'm going to control what I can, and not get anxious about that which I cannot control.


Agree




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