minnbills wrote:LockBox wrote: because....what, some law grads can't secure jobs within 9 months? Neither can a lot of other graduates in other fields. Others argue that the debt doesn't make the expenditure worth it.
Many of those employed are doing doc review as well.
I mean, there are just quite a few holes in the prof's argument that most seasoned TLSers are able to spot pretty quicky. Like when he cites $110,000/whatever as the median pay for lawyers, he doesn't mention that many law gradues (and this has been going on for decades) never work in law in the first place. A better question would have been: "what is the median pay for law school graduates." etc. etc
Those who aren't employed in a legal job a year after law school are generally unlikely to get a legal job.
If you are hiring for an entry level job at your firm which would you prefer, a fresh law school graduate or someone who is a year removed from law school and hasn't been using is law degree at all?
Most likely the person fresh from law school who has much more recent experience using Lexis and Westlaw. Someone who is not jaded by a year of searching (unsuccessfully) for a legal job.
The people who do end up getting a job after more than a year aren't getting jobs that pay biglaw salaries, they are getting jobs that pay wages similar to what you can get out of law school.
Now if we look a little deeper at the numbers we'll see that people graduating from T1 law schools (and particularly the T14 law schools) have higher than average employment rates. That means that the unemployment rates coming from the T2 and lower schools are even worse than 40%.
ETA: Pulling from the article -
"According to NALP, the proportion of 2010 graduates who accepted jobs for which a bar license was required was 68.4 percent — the lowest percentage ever measured."
"Law student borrowing has jumped 50 percent since 2001."
"Too many law school pricing structures are premised on exploiting demand for seats in entering classes, and I agree with the view that the rate of tuition increase is unsustainable."