It gave dire statistics which are old news to recent law grads, and outlined the dismal state of the profession. Namely, that the elites are doing better (top law firm salary hikes to $160,000 this year), while the peasants merely scrape along (starting at around $35,000).
Some bitter discussion then deluged The WSJ Blog. Lawyers, law students, commented by the hundreds, with eloquence fueled by frustration and despair. They spoke of their crushing education debts, and the lack of lucrative jobs. They denounced law schools for being profit-driven, promulgating the fiction that lawyers lived a Boston Legal lifestyle, with Law & Order excitement. They put forth salary calculations. What is the point of a Tier 2 education, if BigLaw pays it no mind? And for those who graduated Tier 3 and Tier 4? Verdict: Might as well go and shoot themselves, to end the income-less misery.
Since becoming a lawyer, I am familiar with the low morale of the profession. I have heard the horror stories. I have experienced some on my own. One interviewer came right out and said, "I hate what I'm doing, but this was the only job I could get. And now, I am hiring you so I could do less of this crap."
And yet, I do not understand it. A law education--like everything else--could only benefit those who consider it an asset, and use it with strategy. It serves only one purpose--to add value to you. Who thinks, have goals, and makes decisions that ultimately control your life.
The profession is indeed saturated, but you are not trapped in a dead-end street. Be prepared to suffer some drastic short-term hardship, in order to acquire the tools for long-term success. Graduated from other than a Top 10 law school? Apply to be a prosecutor, and package yourself into a great trial attorney. Hate the petty back-and-forth of litigation? Network into regulatory or in-house or consulting fields. Want to make the big dollars? Start spending time with entrepreneurs, and see if you could catch the flights as they go up and out.
With intellect and flexibility, tempered by careful financial planning, what can limit you, but yourself?
1 comment:
It's so true and sad...however I really like that pic
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