Worth going to Law School if...

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83947368
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Re: Worth going to Law School if...

Postby 83947368 » Sun Mar 13, 2011 12:13 am

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Last edited by 83947368 on Wed Jul 25, 2012 4:17 pm, edited 1 time in total.

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The Gentleman
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Re: Worth going to Law School if...

Postby The Gentleman » Sun Mar 13, 2011 12:16 am

Have you thought about taking that 200k and starting a business instead?

deadhipsters
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Re: Worth going to Law School if...

Postby deadhipsters » Sun Mar 13, 2011 12:30 am

The Gentleman wrote:Have you thought about taking that 200k and starting a business instead?


I'd rather open a bar or some sort of brewery. Good call gentleman. It's probably a less risky venture than LS.

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Knock
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Re: Worth going to Law School if...

Postby Knock » Sun Mar 13, 2011 12:38 am

deadhipsters wrote:
The Gentleman wrote:Have you thought about taking that 200k and starting a business instead?


I'd rather open a bar or some sort of brewery. Good call gentleman. It's probably a less risky venture than LS.


Take the 200k and start a student loan company. Invest in some HYS students and profit.

TheFactor
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Re: Worth going to Law School if...

Postby TheFactor » Sun Mar 13, 2011 3:56 am

Crazy4lawzzz wrote:
TheFactor wrote:
Crazy4lawzzz wrote:Penn is overrated...I don't know how other "top" law schools are...but I know plenty of 3Ls here without a job...and another who accepted a job at a small law firm. In fact, Penn Law is registered as a participant in unpaid law clerk program with state trial courts in PA. My understanding was that top schools grads dont even consider state trial clerkships and here you have a school promoting an unpaid judicial clerkship program with state trial courts...I mean common.

you crazy bro?


Did you not just read the content of my post?

I'll take that as a yes.

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Pricer
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Re: Worth going to Law School if...

Postby Pricer » Mon Mar 14, 2011 9:18 am

deadhipsters wrote:
The Gentleman wrote:Have you thought about taking that 200k and starting a business instead?


I'd rather open a bar or some sort of brewery. Good call gentleman. It's probably a less risky venture than LS.


If I had $200k lying around, I think that this would be a much more fun and possibly more profitable idea.

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EdmundBurke23
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Re: Worth going to Law School if...

Postby EdmundBurke23 » Mon Mar 14, 2011 11:22 pm

Think about it:

Invest that $200,000 dollars into an index fund. If we assume 8% interest (a little generous, but we're going for the longterm, so it's okay):

10 year ~ $400,000+
20 year ~ $900,000+
30 year ~ $2,000,000ish.

Go become a policeman; you'll be set for retirement with that money thirty years down the line.

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Pricer
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Re: Worth going to Law School if...

Postby Pricer » Tue Mar 15, 2011 8:53 am

EdmundBurke23 wrote:Think about it:

Invest that $200,000 dollars into an index fund. If we assume 8% interest (a little generous, but we're going for the longterm, so it's okay):

10 year ~ $400,000+
20 year ~ $900,000+
30 year ~ $2,000,000ish.

Go become a policeman; you'll be set for retirement with that money thirty years down the line.


Go be a teacher. Work 190 days a year for a pretty good government salary and benefits. Summers off, bro.

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Alex-Trof
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Re: Worth going to Law School if...

Postby Alex-Trof » Tue Mar 15, 2011 2:23 pm

Become a landlord. Thats what I would do if I had 200K lying around. Put some money down, finance the rest. Get few cheap places that are easily rent-able (growing areas, around schools, etc...). Make some money on rent, get more properties, and so on.

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TheTopBloke
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Re: Worth going to Law School if...

Postby TheTopBloke » Tue Mar 15, 2011 2:25 pm

jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Absolutely. If it's ABA accredited it's fine. It's only a shitty school relative to US News rankings and douchebags.

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ResolutePear
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Re: Worth going to Law School if...

Postby ResolutePear » Tue Mar 15, 2011 2:32 pm

TheTopBloke wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Absolutely. If it's ABA accredited it's fine. It's only a shitty school relative to US News rankings and douchebags.


I believe Ford used this same analogy with their Pinto models back in 1977.

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TheTopBloke
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Re: Worth going to Law School if...

Postby TheTopBloke » Tue Mar 15, 2011 2:38 pm

ResolutePear wrote:
TheTopBloke wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Absolutely. If it's ABA accredited it's fine. It's only a shitty school relative to US News rankings and douchebags.


I believe Ford used this same analogy with their Pinto models back in 1977.


they made money didn't they?

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Pricer
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Re: Worth going to Law School if...

Postby Pricer » Tue Mar 15, 2011 2:53 pm

TheTopBloke wrote:
ResolutePear wrote:
TheTopBloke wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Absolutely. If it's ABA accredited it's fine. It's only a shitty school relative to US News rankings and douchebags.


I believe Ford used this same analogy with their Pinto models back in 1977.


they made money didn't they?


I thought they almost went bankrupt, so someone else took over and turned things around.

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jazzmastersc
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Re: Worth going to Law School if...

Postby jazzmastersc » Tue Mar 15, 2011 2:58 pm

jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA

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TheTopBloke
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Re: Worth going to Law School if...

Postby TheTopBloke » Tue Mar 15, 2011 2:59 pm

Another alternative is not going to law school but working for a firm for a couple of years.

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TheTopBloke
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Re: Worth going to Law School if...

Postby TheTopBloke » Tue Mar 15, 2011 3:00 pm

jazzmastersc wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.

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jazzmastersc
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Re: Worth going to Law School if...

Postby jazzmastersc » Tue Mar 15, 2011 3:02 pm

Knock wrote:
deadhipsters wrote:
The Gentleman wrote:Have you thought about taking that 200k and starting a business instead?


I'd rather open a bar or some sort of brewery. Good call gentleman. It's probably a less risky venture than LS.


Take the 200k and start a student loan company. Invest in some HYS students and profit.


TITCR

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ResolutePear
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Re: Worth going to Law School if...

Postby ResolutePear » Tue Mar 15, 2011 4:10 pm

TheTopBloke wrote:
jazzmastersc wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.


Harvard MBA vs Harvard JD.

The MBA is TCR.

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alexonfyre
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Re: Worth going to Law School if...

Postby alexonfyre » Tue Mar 15, 2011 7:11 pm

ResolutePear wrote:
TheTopBloke wrote:
jazzmastersc wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.


Harvard MBA vs Harvard JD.

The MBA is TCR.


Yeah and Lamborghini Aventador vs. Lamborghini Gallardo, Aventador is TCR. On average (top to bottom), JDs are still more secure than MBAs.

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ResolutePear
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Re: Worth going to Law School if...

Postby ResolutePear » Tue Mar 15, 2011 7:39 pm

alexonfyre wrote:
ResolutePear wrote:
TheTopBloke wrote:
jazzmastersc wrote:
Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.


Harvard MBA vs Harvard JD.

The MBA is TCR.


Yeah and Lamborghini Aventador vs. Lamborghini Gallardo, Aventador is TCR. On average (top to bottom), JDs are still more secure than MBAs.


I was comparing equal schools with similar rankings between programs. Otherwise, it's apples to oranges.

You can chalk it up and on the top of both spectrums you have IB/Equity vs NJ250 law firms. On the bottom, you have retail management vs. public defenders.

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dr123
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Re: Worth going to Law School if...

Postby dr123 » Tue Mar 15, 2011 7:42 pm

ResolutePear wrote:
TheTopBloke wrote:
jazzmastersc wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.


Harvard MBA vs Harvard JD.

The MBA is TCR.


Well of course with Harvard, but there are many more TTT MBA programs than TTT law schools

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ArthurDigbySellers
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Re: Worth going to Law School if...

Postby ArthurDigbySellers » Tue Mar 15, 2011 7:44 pm

jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Hey, if you can't find a job, and you have no loans, all you've lost are opportunity costs-3 years of WE/salary. If it comes to it, delete the J.D. from your resume and get a master's in accounting or join the Navy/Air Force.

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jazzmastersc
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Re: Worth going to Law School if...

Postby jazzmastersc » Wed Mar 16, 2011 12:46 am

ArthurDigbySellers wrote:
jajamoo wrote:... it's a shitty school (TTT or TTTT) but ZERO loans (if I go) when I graduate?


Hey, if you can't find a job, and you have no loans, all you've lost are opportunity costs-3 years of WE/salary. If it comes to it, delete the J.D. from your resume and get a master's in accounting or join the Navy/Air Force.


And his family's $200k.

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ResolutePear
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Re: Worth going to Law School if...

Postby ResolutePear » Wed Mar 16, 2011 12:49 am

dr123 wrote:
ResolutePear wrote:
TheTopBloke wrote:
jazzmastersc wrote:
Answer to OP's question is NO. A shitty school is not worth the price of a mortgage. This is one of the most common TLS questions. A TTT is an okay option if you have a full-ride, but OP is talking about paying full price with someone else's $$$.
A better investment would be:
1)If you really want law school, retake the LSAT, volunteer, and acquire work experience. Apply early to splitter-friendly schools. You might get a full scholarship to your local TTT even with a low GPA.
2) MBA


The income potential of an MBA is statistically worse than a JD.


Harvard MBA vs Harvard JD.

The MBA is TCR.


Well of course with Harvard, but there are many more TTT MBA programs than TTT law schools


There's more businesses than law practices.

I'll leave you with a secret: law practices are businesses, too.

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alexonfyre
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Re: Worth going to Law School if...

Postby alexonfyre » Wed Mar 16, 2011 1:10 am

ResolutePear wrote:
There's more businesses than law practices.

I'll leave you with a secret: law practices are businesses, too.


Just because they are businesses doesn't mean they will hire MBAs. Only the most well-organized firms actually hire an executive business staff, and many times those guys aren't even MBAs.
MBAs often ask for way too much money and then underperform, especially from the glut of TTT schools. This obviously isn't as much a problem coming from T1 business schools, and there are some very smart businessmen coming out of some TTTs, but the situation is pretty scary to many small businesses.
If an MBA is willing to accept 45k a year at an entry level position, then your argument holds, but if he is looking for a 60k+ salary as a professional, then he is looking at a market much the same as the legal market with much less lateral mobility (Rarely will you see someone move from marketing to HR. Whereas in law, people can move around between M&A, tax, contracts and even criminal, anything outside of IP is basically fair game.)
I work at a small business right now in which I have firsthand knowledge of the organizations of many firms from small to large (not Vault large, but regionally large.)




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