Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Jul 13, 2012

When you are considering a law degree…

Filed under: Career — admin @ 12:34 am

On 4/19/2012 issue of Time magazine, there is an article talking about supply and demand of lawyer. As job market for lawyers is shrinking, number of people taking law school admission tests declines, too. The “$150,000 they would have to invest in a law degree might be better spent elsewhere.”

Yet, in the time of economic downturn, college graduates might want to go to law school when they cannot find a suitable employment. The bad news is when they eventually reach the market, they will depress wages, which could set them back for a long time. It is called “cobweb model.”

The technology advances also threaten to lower the cost of legal services. The article raises the question of the value of a law degree.

I thought of two of my friends whose children were considering this path. If people go into the law for big earnings, it’s better to think twice.

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