lawyer salaries – another superstar market
About once a semester, I get into an argument about how my students shouldn’t go into law unless they get into a top ranked program. The argument is fairly simple – most lawyers make a modest salary. In the current environment, where one can easily acquire about $200,000 in law school debt, the salary simply doesn’t justify the loan, especially for students from low ranked schools who have very limited job prospects. This semester, one aspiring lawyer said that the average was $78k and then a student raised her hand and said, “sure, but it’s a bimodal distribution!” Indeed, it is. Lesson: Don’t trust law school stats and only go if you get into a top program or you get a free ride.