Wednesday, July 16, 2014

Lawyers Still Making Bank; Numbers Show Loans of $600k+ Justified

A lot of people try to claim that lawyers aren't making much money these days.  In the words of Stewie the Stutterer, B-B-B-B-Bullshit.

The median lawyer salary in America is $62,000.

For those of you who live in dark and very fatuous clouds, that's significantly above what the typical American makes.  Ballpark middle ground is around $44,000, and that (probably - we can assume if it benefits the argument) includes the millionaire class, which skews the number higher.  And while we're running with nonsense numbers, that's an $18,000.00 surplus for the median law graduate.

As most of you know, there is no such thing as a median law graduate.  Everyone is clearly above the median.

In any event, assuming the $18,000 surplus remains constant (more likely, it will grow and grow and grow and grow and THE RUSSIAN MODEL IS TRIPPING BALLS IN THE BACK OF MY LAMBO...

Where was I?  Oh, yes.  With an $18,000 surplus aggregated without any basis whatsoever and departing from statistical principles over a 40-year working period, the lawyer is ahead $720,000 over the course of a career.


So... you all are complaining about $200k in debt?  Fuck me running, law graduates could take out $600k and still be well in the black when the sun sets on their illustrious careers.  Ignoring time-value and interest (which is minimal), the excess over median would fully pay off a $600k loan in 33 years.  How grads with significantly less debt whine is beyond me; as the numbers clearly show, struggling with $200,000 in debt is little more than a function of greed.

It's math, folks.  Math.


  1. If the average wage is $44k, and most households have 2 income earners, shouldn't the average household income then be $88k?

    Instead the average household income looks to be...about $44k. Maybe $48k on a good year.

    This is quite curious. I wonder how the numbers work out that way.

  2. Ignoring the interest was a brilliant move on your part.

    In today's world, everyone is going to be heavily indebted for one reason or another. Why not just ignore the interest?