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Monday, November 25, 2013

Why Now Is A Good Time To Apply To Law School

Forbes:  Why Now Is A Good Time To Apply To Law School, by Ryan Calo (University of Washington):

These comments are addressed to a specific audience: those who think they want to be lawyers some day and are simply not pulling the trigger on applying because of all the bad news. Here’s why I think that’s a mistake.

  1. Fewer applicants means schools compete fiercely for decent students. ...
  2. A lot of law jobs will be opening up over the next five to ten years. ...
  3. Reports of the death of the legal market are greatly exaggerated. ...

Time will tell if the naysayers are right. I am a law professor, I may well be biased. I do not purport to be an expert in macroeconomics. But I do know a specious argument when I see one. Again, law school is not for everyone. Many are right to look elsewhere. For those who do want to be lawyers though, you may be closing your eyes to an opportunity.

(Hat Tip:  Greg McNeal.)

http://taxprof.typepad.com/taxprof_blog/2013/11/why-now.html

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Comments

Prof. Calo. I agree with you 100%. The death of the legal market is, like that of Mark Twain, greatly exaggerated. To put matters simply, neither life nor business is getting less complex, nor is either likely to become so.

Posted by: Candlestick Maker | Nov 25, 2013 10:57:18 AM

There is no "death of the legal market." There is objective evidence of a decline of the legal market, which has not rebounded in the recovery.

The problem is not that there will be no demand for lawyers. We have an entire macroeconomic department at the Dept of Labor dedicated to such forecasts. We call them, the Bureau of Labor Statistics. Unlike law faculty, they make intelligent forecasts based on data. They claim that the market will need 25,000 new entrants per year for the foreseeable future. I'm sure they took into account the baby boom generation in making such forecasts.

Keep selling it though. Always be closing law faculty! Your paychecks depend on it!

Posted by: Bobby Dobb | Nov 25, 2013 12:28:34 PM

And if the factors determining the legal industry's profitability were the "compexity" of "life" or "business," then that would be a worthwhile observation.

Posted by: Jobs | Nov 25, 2013 12:32:07 PM

If the BLS that Bobby cites is the same BLS that fabricated the convenient .3% drop in unemployment before the 2012 election despite the reality that private-sector economists claimed, I have a hard time putting faith in the rosy 25K figure either.

Posted by: anon | Nov 25, 2013 7:55:10 PM