Law School Bubble - Popped? | TigerDroppings.com

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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
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Law School Bubble - Popped?


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quote:

Last month, the Law School Admissions Council (a.k.a., LSAC) published data indicating that the bubble finally seemed to have popped -- a merciful development, as I put it at the time. The number of LSAT tests administered has plummeted over the past two years, and fewer students are accepting admission. This is a happy turn of events. The fewer grads being funneled into an super-saturated industry, the better. (Full disclosure: I used to work for a law firm.)




quote:

Meanwhile, take a look at students in the 170-174 range, which is down by more than 20 percent. What does that tell us? It says that fewer people who are smart and hard working enough to even get that score are probably taking the LSAT, and even if they are, they've heard enough terrible news about the legal economy that they've chosen not to apply. Now, a 170 on your LSAT does not guarantee you a future wearing pinstripes and wingtips. I know more than a few young graduates of elite law schools who have struggled to find work. But if you're good enough to hit the magic 70 mark, it means you stand a better chance than most of surviving in the legal economy.

So the smart kids got the memo. Law school is largely a losing game, and they're not going to play, even though they can probably count on a better hand than most. Meanwhile, the number of laggards applying has barely budged.



This post was edited on 4/11 at 12:05 pm



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Elleshoe
Southeastern LA Fan
Founder of the Boxtard Nation
Member since Jun 2004
121663 posts

re: Law School Bubble - Popped?


lowest scores I've heard were 130. They didn't get in to SULC fwiw





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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Law School Bubble - Popped?


quote:

Law School Bubble - Popped?


let's hope so






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Nashty
LSU Fan
Baton Rouge, LA
Member since Mar 2012
3466 posts

re: Law School Bubble - Popped?


quote:

130


How the frick someone gets below a 150 is beyond me. 130? Christ.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21598 posts

re: Law School Bubble - Popped?


Is there a noticable difference in someone that score a 150 and a 175. Actual post college performance wise?





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Pilot Tiger
Georgetown Fan
Washington DC
Member since Nov 2005
60813 posts

re: Law School Bubble - Popped?


quote:

The number of students applying who probably have no business going to law school has dropped the least
makes sense. They are too stupid and lack the insight that the smarter students have






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CarRamrod
USA Fan
Spurbury, VT
Member since Dec 2006
34853 posts

re: Law School Bubble - Popped?


I laughed at a lot of people i knew who were majoring in psychology, sociology, etc. that said they were just going to take the lsat and apply to law school because they didnt want to do what they were majoring in.





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Count Chocula
Yale Fan
Tier 5 and proud
Member since Feb 2009
49008 posts

re: Law School Bubble - Popped?


quote:

psychology, sociology

Add to that History, English and Political Science.



This post was edited on 4/11 at 12:11 pm


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Nashty
LSU Fan
Baton Rouge, LA
Member since Mar 2012
3466 posts

re: Law School Bubble - Popped?


quote:

I laughed at a lot of people i knew who were majoring in psychology, sociology, etc. that said they were just going to take the lsat and apply to law school because they didnt want to do what they were majoring in.


I majored in sociology and am going to law school. But I had a relevant job that pertained to my major after UG.






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Bunk Moreland
Michigan Fan
Detroit, MI.
Member since Dec 2010
6088 posts

re: Law School Bubble - Popped?


I think we have had this thread on one forum or another here, but there is only one attorney whose job I somewhat envy - my buddy who is in IP with consistent patent work, and who also takes cuts of the cash cow plaintiff's cases.

Anyway, unless you can get into a relatively inexpensive public school, law school makes zero financial sense. You better be top 10%, have great connections, or be a great ambulance chaser to make any cash. And the lifestyle sucks. Your clients hate you, your bosses hate you, the judges hate you, opposing counsel hates you, etc., etc.






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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18964 posts

re: Law School Bubble - Popped?


While I do have bone crushing debt, I love my gig. Work from home, no boss within 1,000 miles from me, and basically work my own hours/whatever schedule the court gives me.

You're right though, many jobs suck per the usual occupation.



This post was edited on 4/11 at 12:25 pm


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
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re: Law School Bubble - Popped?


quote:

Anyway, unless you can get into a relatively inexpensive public school,

i did that, with a 75% off scholarship, thankfully.

quote:

And the lifestyle sucks. Your clients hate you, your bosses hate you, the judges hate you, opposing counsel hates you, etc., etc.

i try to not have this happen

i don't make bank, but i'm ok with that. my job is good and allows me freedom to do certain things. and i don't have that lifestyle and hate it when i do have those 70 hour weeks. i try to make up for it elsewhere, though






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Pilot Tiger
Georgetown Fan
Washington DC
Member since Nov 2005
60813 posts

re: Law School Bubble - Popped?


quote:

Work from home
this is what I want






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
295887 posts

re: Law School Bubble - Popped?


i don't think i could do it unless i was personally invested into the company





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Pilot Tiger
Georgetown Fan
Washington DC
Member since Nov 2005
60813 posts

re: Law School Bubble - Popped?


oh yea def.

a good buddy of mine, who lives in my neighborhood actually, works primarily from home, but he's a CTO/senior developer. He works shirtless and sleeps in until like 10am every day

BUT, he does have nights of working 18 hours, depending on customer needs






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BRgetthenet
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Member since Oct 2011
61518 posts
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re: Law School Bubble - Popped?


Would you do anything different if you could have done it all over again?





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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18964 posts

re: Law School Bubble - Popped?


Ya, it can be tough to stay motivated sometimes. Plus, being in the same place all day, even if it is your home can be a drag.
I do sleep in a bit, but my employers are in eastern timezone so it really sucks when I I forget to put my phone on silent before bed.






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Bunk Moreland
Michigan Fan
Detroit, MI.
Member since Dec 2010
6088 posts

re: Law School Bubble - Popped?


Nice for you guys who work for yourselves. That takes balls.
On the civil side, I think everyone dreams of a cushy in-house gig, but they're not exactly giving those jobs away.

Anyway, back on thread. This guy was railing against the law school/student loan scam a few years back, and I guess even got heat from his law school for appearing in the WSJ. He is worth a few laughs.
LINK






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LSUtigersarefun
LSU Fan
Member since Aug 2009
9602 posts

re: Law School Bubble - Popped?


The percent applying doesn't matter as much as the percent accepted and the actual number graduated. Something tells me that law schools have a seat limit per year, and will take as many as they can reasonably take to fill those seats. Which will just mean we will have dumber lawyers not less of them.





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theronswanson
House built with my hands
Member since Feb 2012
937 posts

re: Law School Bubble - Popped?


The most sensible thing to do financially is to go to Southern on a full scholly, be in the Top 10% and then transfer to Tulane. You keep your class ranking and employers don't know! Graduate then get that M-F 8-6 job getting that bank. Law school is still a good investment if you do it right.





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