Trying to Compare BL% to Cost-Scholarship -- Need Help Forum

[mornincounselor]

Okay, so I started a spreadsheet to try and rank schools based on costs and big law percentage over the last 3 years. I took the BL rate over the last three years and averaged it. Then I subtracted this number from 100%. I looked at mylsn to find the average scholarship a student with my numbers (splitter) got over the last three years, subtracted that from the total costs, and multiplied that number by the average non-BL number to get the following figures:

W/M: $101.8k
Cornell: $119.2k
Alabama: $125.49k
WUSTL: $133.28k
Texas: $146.88k
etc.


The problem is I don't think this ranking makes sense for someone who is aiming for big law. I need to change the formula somehow to give BL% a bigger impact. Can someone tell me how these numbers are inaccurate or potentially a better way of doing this? Or is this kind of analysis silly to attempt? (If so, why and what is the better way of doing it?)

Thanks

[A. Nony Mouse]

Can you explain why you multiplied scholarship offers by the non-biglaw number? I'm kind of a statistical idiot so may be missing something, but I don't get what that number means.

[mornincounselor]

Good question, I'm not sure. I'm not a statistical-minded person either.

I guess I figured both the numbers are important and by multiplying them I would find some meaningful way to rank schools. The numbers don't mean anything in of themselves other than as a means of ranking my options.

[mornincounselor]

Oh sorry, no no I'm wrong. I subtracted the scholarship amount from the total costs and multiplied that number by the non-BL %.

[Clearly]

I would prob divide BL% into total cost minus scholarship = which should get you basically dollar spent per 1% chance of biglaw.
Take roughly sticker at say Penn
270,000 / 75 = each 1% chance at biglaw costs $3600

Then with the marginal percentage cost, compare each schools total biglaw percentage, basically in order from low to high BL percentage ask is it worth the above number * the difference between that school and the next highest in percentage to move up.