Too Many Lawyers

Slate looks at the numbers: 9% more ABA law schools in the last decade, 11.5% more new graduates over the same period of time, 7.8% shrinking of the legal job market in just the last three years.  A select excerpt:

Students simply “cannot earn enough income after graduation to support the debt they incur,” wrote Richard Matasar, the dean of New York Law School, in 2005.

The article concludes by saying that inevitably, the oversupply of lawyers will result in the reduction of law school applications, and that will result in some of the marginal law schools shutting down.

I don’t spend much time thinking about this, but it’s certainly in the back of my mind.  Law school is an investment, and like any investment, there’s a certain element of risk.  My fingers are crossed that it pays off for me.

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