The Wall Street Journal law blog features an article about the truth of law employment.
It doesn't make money unless you're in the top 1% working for the big firms.
Ready to watch your dream go down in flames? Here, read for yourself.
Tuesday, September 25, 2007
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3 comments:
I read it this morning. Arg. Floundering around wondering how am I going to pay my loans. Not thru blog ads alone that's for sure.
I agree with most of it but the part about govt. attorneys is a bit off-base if they're taking the first year salaries alone to establish the "below-the-cost-of-living" statement. If you work for the feds right out of law school, you basically have to go in through a government clerkship (you're not even considered an attorney at that point by your employers). Judicial clerks don't get paid a whole lot either-you're taking the hit for that one year for future possibilities.
The lower federal salaries for Year 1 are in the 50k some odd range, by Year 3 almost everyone is in the high 70s to mid-80s (location dependent). I have a hard time representing the high five figures as a poor paying job. It isn't BigLaw but it is very competitive for the hours and benefits.
Henny, you should be able to plead your case for an extension on repayment for the federal loans at least. I didn't start repaying till late 2006 because my dad established repayment would end up driving me into poverty. I'll talk to him tonight to see what I can find out about that process.
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