Wednesday, July 16, 2014
CNN Money, Go to Law School. Rack Up Debt. Make $62,000:
Leslie Thompson earns $40,000 a year working two jobs, but her Albuquerque, N.M., house almost went into foreclosure twice this year.
Thompson's trade? She's a lawyer.
Lawyers have been struggling for a while now, but it's gotten even worse: Half of lawyers are now starting at a salary of less than $62,000 a year, according to the National Association for Law Placement.
Not only that, but starting salaries have fallen 13% over the past six years, down from $72,000 in 2008. At the same time, lawyers' student debts are piling up. Thompson is carrying over $150,000 in student loans.
Thompson, the lawyer from Albuquerque, says she'll "keep scratching and clawing," but she's not sure how things will get better. "The situation is kind of grim," she says.