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Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:11 pm
by luckyman17
Hey guys so I was just hoping to get some input here since TLS usually has pretty good advice

I calculated it and with scholarships Cornell would cost roughly 185k and Vandy 87k.

I have only a little savings and my family will help out where possible, most likely with living expenses. But other than that I'll be taking out loans.

Right now I'm set on big law right but I know there's a good possibility that the big law/NYC life will lose it's appeal. In that case which school has the best flexibility and placement when it comes to other legal markets? Right now I'm set on leaving Florida and ideally would like the North but like I said I'm not really against winding up in the South.

My LSAT/ GPA is 168/3.67 and I already took three times.

Questions:
-I know Cornell has like the sixth best employment in big law and federal clerkships but is it worth that price tag?
- If I go to Vandy is big law pretty much a no go?

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:20 pm
by Nomo
I really think 185k is too much for Cornell. I doubt you'll be able to pay that off in 4 years - everyone thinks they can; but when they get hit with those federal, state, and city income taxes in NYC plus a culture of heavy spending they find it much harder to save and pay down loans.

Vandy at 87k is good, but going north with no ties will require that you do well there. Missing out on biglaw is very possible; but you certainly have a shot at it, especially in the south.

If you're prepared to sacrifice going north, and can accept the possibility of not getting big or midlaw then go to Vandy. Otherwise retake and try again; or just don't go to law school at all.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:24 pm
by nebula666
I'd go with Vandy of these two. Vandy gives you a little under a coinflip chance at biglaw/fed clerk. Even if you don't get that, 87k will not be crippling debt because you can probably still secure a pretty good job. 185K from Cornell will be crippling debt if you don't land biglaw, but you have almost a 70% chance of biglaw/fed clerk.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:26 pm
by Otunga
Do you mean 30k per year at Cornell, OP? Using the Georgetown calc, it comes to more or less 185k. What do you think is your debt level, though? How much living expenses help are you getting? As it stands, I like Vanderbilt for 100k less. They have solid biglaw numbers for a non-t14 school.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:38 pm
by luckyman17
Sorry didn't mean to be confusing I meant 30k total. If I went to Ithaca my living expenses would be covered since rent is cheaper. In Nashville I would have to contribute with some of my personal savings since it's more expensive. The amount of debt I'd have from Cornell is pretty unsettling quite frankly I don't think I can commit to that. Glad to hear though that Vandy at that price could be worth it, even if it is only a coin flip

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:48 pm
by arklaw13
Vandy 1L here.

Vandy is good at that price. Do you have ties to any of the bigger cities in Florida? I hear the FL market is really weird, as in being from Orlando isn't really much help if you're trying to get a job in Miami. NYC is possible, but definitely not as likely from Vandy as it would be from Cornell. You'll also have difficulty in a lot of southern markets without ties. A lot of southerners don't really see FL as being in the south.

I generally don't think Cornell is worth 100k more than Vandy. Your calculations seem low for both schools though. I wouldn't go to Vandy if your main goal is NYC biglaw, but I wouldn't go to Cornell for that price either.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:49 pm
by Otunga
luckyman17 wrote:Sorry didn't mean to be confusing I meant 30k total. If I went to Ithaca my living expenses would be covered since rent is cheaper. In Nashville I would have to contribute with some of my personal savings since it's more expensive. The amount of debt I'd have from Cornell is pretty unsettling quite frankly I don't think I can commit to that. Glad to hear though that Vandy at that price could be worth it, even if it is only a coin flip
It's only a coin flip for a high paying job, but a modest salary could handle 87k if you're in a low COL southern city or something, I would think.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 6:51 pm
by rad lulz
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Re: Cornell (30k) vs. Vandy (75k)

Posted: Thu Apr 17, 2014 7:03 pm
by staysha
Vandy.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 8:04 am
by lecsa
I'm leaning towards Vandy, but I'll caveat it and say that it seems like the only Vandy grads I knew in NYC biglaw were on law review. It doesn't seem like a good school outside of the South.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 9:16 am
by rad lulz
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Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 11:48 am
by ArundelSt
Thanks Rad Lulz and ArkLaw for the advice. I am in pretty much the exact same situation as the OP, but not as Northern focused. NYC would be a nice plus but I am thinking eventually I want to be in the South. How is Cornell's placement in the South generally, I know it Ivy League but does anyone in the South care? Generally would someone in Atlanta or Charlotte or Tampa go with a Vandy grad over a cornell grad? Any input is appreciated thanks.

Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 11:57 am
by rad lulz
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Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 12:07 pm
by ArundelSt
rad lulz wrote:
ArundelSt wrote:Thanks Rad Lulz and ArkLaw for the advice. I am in pretty much the exact same situation as the OP, but not as Northern focused. NYC would be a nice plus but I am thinking eventually I want to be in the South. How is Cornell's placement in the South generally, I know it Ivy League but does anyone in the South care? Generally would someone in Atlanta or Charlotte or Tampa go with a Vandy grad over a cornell grad? Any input is appreciated thanks.
Are you from all those places

No school is good for all those places

I'm from not-Miami Florida, but pretty much my whole family lives in Charlotte

Re: Cornell (30k) vs. Vandy (75k)

Posted: Fri Apr 18, 2014 4:06 pm
by arklaw13
ArundelSt wrote:
rad lulz wrote:
ArundelSt wrote:Thanks Rad Lulz and ArkLaw for the advice. I am in pretty much the exact same situation as the OP, but not as Northern focused. NYC would be a nice plus but I am thinking eventually I want to be in the South. How is Cornell's placement in the South generally, I know it Ivy League but does anyone in the South care? Generally would someone in Atlanta or Charlotte or Tampa go with a Vandy grad over a cornell grad? Any input is appreciated thanks.
Are you from all those places

No school is good for all those places

I'm from not-Miami Florida, but pretty much my whole family lives in Charlotte
Vandy does well in both of those markets for people with strong enough ties. I have no idea about Cornell really. Search the firms in those cities and see if you can find any Cornell grads.

If you were wanting Miami or Charlotte and had the same price difference as OP, I'd say Vandy is a no-brainer as far as that choice. If your main goal is NYC biglaw, Vandy is not the ideal place to be. If you're fine with just a ~30% chance of ending up in NYC, with Charlotte or Miami as your fallback markets (not a good term since those markets aren't easy to get since Florida has 11 law schools and Charlotte is pretty small), then Vandy would be better than Cornell for the above price difference.