Friday, April 28, 2006

Bad Reason for Attending Law School # 8

"I want to make a lot of money"

A common lament among law students is "I'm not good at math. That's why I went to law school." This must be true, because many law students also believe that being a lawyer will make them rich. In the best case scenario, $125,000 / 80 hours a week / 50 weeks a year is a little over $31 an hour, or roughly what a unionized plumber makes. And a plumber doesn't have to pay for his own suits.

Sure, some attorneys will become wealthy through their legal talents. Many will break into the upper middle class thanks to this profession's inflated billing tradition. But that presumes you get a big firm job, which, if you haven't figured out, are quite competitive, and not always the most pleasant of work enviornments. Most, however, will start their careers making the same salary that a competent manager would. The only difference between that competent manager and the beginning attorney is that the competent manager can sleep under the object of his $150,000 debt. Try doing that with just a diploma.

To be fair, many law students take a pragmatic approach to their future careers. They saw the writing on the wall after they got their first semester grades. But some can only see dollar signs. They think their top 25% ranking and spot on the moot court is going to be a ticket to the country club lifestyle, complete with a lake house and matching chocolate labs.

I can't help but be reminded of that kid in high school who was actually athletically gifted and would talk about his college scholarships and his plans to be in the pros and the riches that would follow. The rest of us in high school knew that his chances were slim, but he was convinced. Last year I had the pleasure of meeting him again as he tore my ticket stub when I went to see "The 40 Year Old Virgin." Perhaps in 10 years I'll have the pleasure of paying one of you $99 for a fill-in-the-blank will.