The number of persons taking the LSAT (law school admission test) has fallen by 45% since 2009, according to this Wall Street Journal post. This is consistent with earlier posts on this blog that noted the dramatic decline in law school applications and enrollment declines being experienced by most law schools, resulting in smaller classes and faculty layoffs (click the Graduate and Professional School link in the right column under “Categories” for all the law school posts).
Now, I have nothing against law school or lawyers. I enjoyed law school and consider it the best educational experience of my life. I’ve also enjoyed practicing law over the years. But it’s hard to defend the number of lawyers we have in this country.
At some point, law school became the default path for many of those liberal arts graduates who had nowhere to go or no idea what they wanted to do when they grew up. And stories about the sky-high salaries paid to new graduates by some of our nation’s top law firms was like honey with bees.
Perhaps reality has truly sunk in. Perhaps people are realizing that major law firms have scaled way back on the number of new graduates they hire. And perhaps people realize that very few of those new hires are ever offered a partnership at those firms. And the 2,000 or more billable hours expected at many firms don’t leave much time for living, either.
Perhaps the cost is a major factor, too. More students are graduating from college in debt, and debt levels are higher. The prospect of going more deeply into debt, and then facing a bleak job market, is probably scaring off quite a few people who would have taken the LSAT 10 years ago.
The cost of law school has risen considerably over the years. Law schools are big money makers for universities. It doesn’t cost much to provide three years of legal education. No labs. No hospitals or expensive clinical settings. Just classrooms, teachers and a library.
But the economics no longer work for many people. That reality is shown in the falling LSAT numbers.
The good news for budding lawyers is, the upward pressure on tuition has been relieved. Law schools are scrambling to meet their enrollment targets. Applicants have more leverage than they’ve had in years. It might pay to negotiate your tuition (by seeking larger scholarships and grants, not loans).
Personally, I think a law school education is a worthwhile investment if you like studying and practicing law. But if you’re attracted to the profession by the prospect of pulling in big bucks at a major law firm, you’d better do more research and acquaint yourself with the facts. And you’d better get admitted to a top law school, too. The path from middling and lower-tiered law schools to major firms is quite narrow.
Good luck!
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