Decisions, Decisions ... Please Help! Forum

[eurasianartifact]

Hi, Gals and Guys:

I want some input on selecting a law school to attend this fall. But first, some background on my two law school choices.

Choice A is a T-30 public law school. Choice B is a T-20 private law school. Both law schools are located in the same region (Midwest) where I plan to work after graduation. The employment statistics (75% employed 9 months after graduation) and bar passage rates (approximately 95%) are comparable. However, the salary statistics are not. Specifically, choice A's salary statistics for the private sector are $50k/$100k at the 25th/75th percentiles ($75k at the median). And choice B's salary statistics for the private sector are $75k/$160k at the 25th/75th percentiles ($110k at the median). Below are my current scholarship offers from each of these two law schools.

Choice A: Full-tuition scholarship with a research assistant position for 2L and 3L, which includes a stipend of $1250 per semester and subsidized health insurance ... guaranteed for all three years (min. GPA of 2.1 required). Choice B: $63k scholarship (or $21k for each year of law school) ... guaranteed for all three years (no minimum GPA requirement). If I attend choice A, at graduation I will have accumulated approximately $55k in student loan debt (from undergraduate and law school combined). If I attend choice B, at graduation I will have accumulated approximately $150k in student loan debt (from undergraduate and law school combined).

Let's break this information down into a simple table. (Also, let's constructively assume that I'll have a job 9 months after graduation regardless of which of these two choices I select.)

Choice A
$55k (debt) / $50k (potential income at the 25th percentile)
$55k (debt) / $75k (potential income at the median)
$55k (debt) / $100k (potential income at the 75th percentile)

Choice B
$150k (debt) / $75k (potential income at the 25th percentile)
$150k (debt) / $110k (potential income at the median)
$150k (debt) / $160k (potential income at the 75th percentile)

Which choice do you believe I should select? Discuss!
(We might want to consider opportunity cost, comparative advantage, etc.)

[bcmax]

So Iowa vs. WashU?

[TheSpanishMain]

What do you want to do? Like, what kind of job are you hoping to get? What would make you happy?

If you're hoping to become, say, an ADA/PD, or some other job that isn't super school prestige focused, then it makes sense to go with choice A. If you want a meaningful shot at Big Law, you should probably go with B (or retake).

[radikal_eyes]

T-20 with a median income in the private sector of $110,000...is this self-reported by the law school?

[Rahviveh]

Salary reporting statistics are basically useless for most law schools outside of the T14 because the reporting rates are so low. I think a better thing to do is rely on bimodal distribution and use biglaw rates as a proxy for how many people are earning six figure salaries, and assume the rest are earning 40-60k. For the schools you're talking about, that most likely means about 10-20% of the class are earning six figures, while the rest are earning 40-60k and also struggling to find legal work.

Iowa, for example, only has less than a third of its 2012 class reporting salaries on the NALP report.

[eurasianartifact]

So Iowa vs. WashU?

Correct.

[WaltGrace83]

What are your stats?

[eurasianartifact]

What do you want to do? Like, what kind of job are you hoping to get? What would make you happy?

If you're hoping to become, say, an ADA/PD, or some other job that isn't super school prestige focused, then it makes sense to go with choice A. If you want a meaningful shot at Big Law, you should probably go with B (or retake).

I have some Ideas about what I would like to do, but I want to set myself up for a diverse set opportunities. Big Law isn't necessarily my dream ... I'd like to live in a larger city in the Midwest (or in Houston), have an affordable debt load, and work at a mid-sized (or larger) law firm that can provide me with the experience/expertise needed to transition to in-house counsel at mid-sized (or larger) company/organization. (Keep in mind that this is my 'vision' as a 0L.)

[Tiago Splitter]

Big Law isn't necessarily my dream ... I'd like to ...work at a mid-sized (or larger) law firm that can provide me with the experience/expertise needed to transition to in-house counsel at mid-sized (or larger) company/organization. (Keep in mind that this is my 'vision' as a 0L.)

Biglaw is no one's dream but it's what you are shooting for.