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If you got into both, and they were both the same price, which is the best choice for a career in Corporate Law?

cookiemonsterok wrote: ↑

Wed Nov 25, 2020 9:32 pm

If you got into both, and they were both the same price, which is the best choice for a career in Corporate Law?

Is this a joke?

becodalapa wrote: ↑

Thu Nov 26, 2020 10:30 am

cookiemonsterok wrote: ↑

Wed Nov 25, 2020 9:32 pm

If you got into both, and they were both the same price, which is the best choice for a career in Corporate Law?

Is this a joke?

No ones gotten into Harvard yet, and only like 2 people in at Yale, so it's not an actual decision. Just wondering what would be the best choice in this scenario.

Whichever is cheaper.

Same price? Considering nothing else, Yale.

But if that's your goal and those are your choices, you can afford to consider other things like your quality of life for 3 years in Cambridge v. New Haven, likelihood of meeting new friends in larger/more diverse class sizes v very small ones, reaching out beyond the law school campus, etc.

NY corporate law is EASY to get from either YLS or HLS. You should consider other factors if you really do have the same price at both.

Real answer is neither. You’re better off taking a full ride to another T13 and graduating without debt.

Mullens wrote: ↑

Thu Nov 26, 2020 2:33 pm

Real answer is neither. You’re better off taking a full ride to another T13 and graduating without debt.

Yahhh I agree. If they were both 0 COA then I guess it just doesn’t really matter at that point?

Joachim2017 wrote: ↑

Thu Nov 26, 2020 1:21 pm

Same price? Considering nothing else, Yale.

But if that's your goal and those are your choices, you can afford to consider other things like your quality of life for 3 years in Cambridge v. New Haven, likelihood of meeting new friends in larger/more diverse class sizes v very small ones, reaching out beyond the law school campus, etc.

NY corporate law is EASY to get from either YLS or HLS. You should consider other factors if you really do have the same price at both.

Makes sense, thanks for your response!

cookiemonsterok wrote: ↑

Thu Nov 26, 2020 4:08 pm

Mullens wrote: ↑

Thu Nov 26, 2020 2:33 pm

Real answer is neither. You’re better off taking a full ride to another T13 and graduating without debt.

Yahhh I agree. If they were both 0 COA then I guess it just doesn’t really matter at that point?

Impossible to get either H or Y to $0 CoA unless you interact with their financial-aid math in a very unusual way (disabled single mother with multiple dependents or something). They generally expect a minimum financial contribution well into six figures.

Mullens wrote: ↑

Thu Nov 26, 2020 2:33 pm

Real answer is neither. You’re better off taking a full ride to another T13 and graduating without debt.

Depends on what you want to do in life. If just random biglaw firm is all you want, then you are probably better off going a tier down with money. If you dream of being a SCOTUS clerk or going to a WLRK/Sussman type firm, your chances of fulfilling that dream are far better from Yale, and may be worth the additional cost of attendance.

People get hung up on debt, and for good reasons. But $200 or even $300k is a pretty trivial amount relative to a lifetime of earnings from the average HYS graduate.

nealric wrote: ↑

Thu Dec 10, 2020 2:49 pm

People get hung up on debt, and for good reasons. But $200 or even $300k is a pretty trivial amount relative to a lifetime of earnings from the average HYS graduate.

"Trivial" seems like a stretch to me. $200k, post-tax, in your 20's, is a huge amount of money. Comparing it to "lifetime earnings" is an apples-and-oranges comparison because of taxes and the time-value of money.

If we're going to compare it to a career's worth of earnings, it seems fairer to account for 30-40 years of stock-market appreciation. Spending that extra quarter million on law school makes you $2-4MM poorer at retirement (in 2020 dollars!). That's not trivial for any lawyer, even V5 partners. Affordable, survivable, sure, but not trivial unless you're worth nine figures.

Yes, I realize $200k will compound over time, but behaviorally, few people would practice that hypothetical ideal of putting all $200k in an index fund. The type of person who would do that is likely to do just fine regardless.

But the point is that amount of money is unlikely to materially change your standard of living between the career options you would likely be choosing from. But having access to your ideal career will materially change your quality of life.

nealric wrote: ↑

Sat Dec 12, 2020 7:25 pm

But the point is that amount of money is unlikely to materially change your standard of living between the career options you would likely be choosing from. But having access to your ideal career will materially change tour quality of life.

Reasonable people can disagree about the relative value of hard money vs. career aspirations. It's definitely a subjective, personal, and opaque question. Money isn't everything, and it's not like people who attend a T14 at sticker are automatically doomed to financial ruin.

I just think it's a bit bombastic to write off $200-300k, post-tax, at age 25-29 as "trivial" or immaterial. Anyone making this choice (e.g., between SLS at sticker and a Darrow) should soberly contemplate all the other things which that money could do for them.

The Lsat Airbender wrote: ↑

Sat Dec 12, 2020 9:32 pm

nealric wrote: ↑

Sat Dec 12, 2020 7:25 pm

But the point is that amount of money is unlikely to materially change your standard of living between the career options you would likely be choosing from. But having access to your ideal career will materially change tour quality of life.

Reasonable people can disagree about the relative value of hard money vs. career aspirations. It's definitely a subjective, personal, and opaque question. Money isn't everything, and it's not like people who attend a T14 at sticker are automatically doomed to financial ruin.

I just think it's a bit bombastic to write off $200-300k, post-tax, at age 25-29 as "trivial" or immaterial. Anyone making this choice (e.g., between SLS at sticker and a Darrow) should soberly contemplate all the other things which that money could do for them.

I think it's absolutely within the realm of "reasonable minds can differ." I tend to have a somewhat different perspective on debt than the TLS conventional wisdom, but I think some of that is that I am a bit further past law school graduation that most, and it's been some time since my debts were paid off. Debt looks different in the rear view mirror than when you are under it. I recognize my difference of perspective is informed by some amount of survivor bias and luck.

I wouldn't write off $200k as "trivial" by any means, but rather that the amount is small relative to a lifetime of earnings, and those earnings may be influenced by your school choice. Much of it is an odds game. Is it worth spending a lot more for a slight bump in odds of getting into the career path you want? A tough choice to be sure and nobody can make it for you.