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Is Your Degree Worth It?

January 26, 2010

gavelmoneyAfter a month long hiatus, we are back with a question that each reader has probably asked themselves at one point or another. Was it worth it? According to Karen Sloan, you should proceed with caution to law school. However, students don’t seem to be listening. Applications to law schools accredited by the ABA increased by 5% for this year’s incoming class, according to the Law School Admissions Council, and the number of people taking the LSAT this October shot up by nearly 20%, meaning admissions officials are in for a busy year. Sloan goes on to say that “would-be lawyers should take a hard look at the benefits and drawbacks of spending three years and upward of $100,000 to get a law degree” and that “law schools should provide better statistics on student debt, career prospects and earning potential, according recent graduates and law school faculty.” Both are very true, but they could be said of any graduate program. Do you think the person studying to be a chiropractor doesn’t have to worry about the same issues?

The biggest problem lies in the inflated expectations of law students themselves. Not everyone is going to come out making $160,000 a year. In fact, only 23% of the class of 2008 secured that salary, according to the National Association for Law Placement. Everything you learn in school is theory, you aren’t really worth anything until you can put that theory into practice. If your only goal is to make money then most of the time you’ll be in the hole. If your goal is to become a lawyer then not only will your degree be worth it, but it will prove itself essential. College is the place to explore and determine what you want to be when you grow up. If you haven’t figured that out by the time you graduate then take some more time and don’t just go to law school because there’s nothing else to do.

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