Is Law School a Smart Investment?

You’ve thinking about the future lately; who hasn’t?  The economic downturn and talk of depression is probably depressing you … or perhaps it actually makes you feel motivated.  When the going gets tough, people go back to school, which may be where you’ve set your sights.  Law school probably sounds good.  After all, lawyers make a lot of money, right?  However, if you’re considering investing your time and money in law school, you should probably be aware that jobs for attorneys are growing, as is the case with nearly every other field these days, increasingly scarce.

Consider that the typical law education costs roughly $200,000 or so.  Meanwhile, although most schools project the annual salary for a lawyer in the private sector to be around $160,000, the Bureau of Labor places that estimate at a more conservative $100,000.  In reality, the majority of lawyers won’t make nearly that much a year.  It also depends on the kind of law you plan to practice (or end up practicing) as well as your chances of being hired by a big law firm.  You must also consider your student loans, which can cost upwards of $2000 a month.

You must ask yourself why you are considering applying for law school at all.  Is it for the money?  Glory?  Fame?  Or do you want to help out other people?  What is your motivation?  If you are thinking of law school because you don’t know what else to do with your life, you will want to ask yourself if the pain of studying a tremendously difficult topic and the uncertain future that comes afterward is worth it.

You must also consider the odds you are playing by applying.  Have you taken the LSAT?  If you have, what is your score?  The rank of the school you plan to attend will undoubtedly affect your future prospects in the field.  The admissions process is elaborate:  is it worth it for you?

Let’s say that, even after you have thought about why you want to apply and you’ve received your LSAT score, you are still uncertain.  Have you been told you that you’d be a terrific lawyer?  If so, who told you that?  How much do you value their opinion?  Law school is expensive, time consuming, and can be a battle that won’t do much for your social life or your self esteem.  However, if you still feel that you have the potential to be a wonderful lawyer, you have to ask yourself if not finding out will be worth it.  Can you live with yourself if you suspect that you are chock full of potential but never had the nerve to find out?  You don’t want to go through the rest of your life constantly wondering what might have been.

In the end, the question of whether or not law school is worth investing your time and lifeblood is not an easy decision to make, nor one that should be taken lightly.  You will have to weigh all the factors, and ultimately, it will be up to only you to make the decision.

Carly Jameson is a contributing writer for Chicago Personal Injury Lawyer, the experienced personal injury law firm in Illinois.

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