Right now, law school looks like a stock that crashed too far after a panic, and is suddenly a bit undervalued. It’s a good time to buy....God damn, that's some tasty bits.
Simkovic and McIntyre’s paper is controversial in part because it looks back at the glory days of the legal industry to predict what tomorrow’s grads might make. But the fact that even law graduates with low earnings made a solid return on their investment is a good sign for current students. And, as far as I know, nobody has managed to come up with a better set of numbers. (Beyond that, Simkovic and McIntyre don’t even bother to account for debt forgiveness programs, which help make graduate school a safer investment.)
Nonetheless, most long-term, full-time J.D.-advantage jobs aren’t paralegal spots and the like. The majority are professional opportunities in business, government, and the nonprofit world with pay that’s on par with much of the legal sector.
Rightly, Weissman's clckbait ignores those uninformed haterz who think it's an error to assume that employer behavior will remain a constant. Nothing ever changes in law, which is precisely why all this crap about unemployment is nonsense. Everyone knows lawyers make bank. Look at the Simkovic and McIntyre study! Even if it's terribly flawed and mistaken in theory, no one else is providing better numbers.
At a time when most writers are wimping out, Jordan Weissman and Slate boldly repeat their inconvenient controversial truth. That's a service. A public service. More importantly, it is the sort of doubling down that law graduates should learn. If ever you become unemployed, don't start going negative. Get yourself an LLM.
But that probably won't be necessary, as the ratio of grads to jobs will virtually guarantee that tomorrow's law graduates will land employment. It's like investing in a stock that's got a guaranteed return AND gives you models and bottles.
Models and bottles, folks. Models and bottles.