The Wall Street Journal http://online.wsj.com/article/SB119040786780835602.html article on the job market for law students and attorneys is creating a buzz on legal blogs.
The article warns that most attorneys don't make an entry level salary of $120,000 to $160,000 seen with large law firms in the larger cities. The article also states that some law school graduates are having a hard time finding legal employment, some of the employment is as a contract attorney with no benefits, and most law graduates are graduating with student loan debt from undergraduate and law school in the tens or hundreds of thousand dollar range.
I borrowed more money than needed to attend nursing and law school because of necessity. I was a single mom but in hindsight I still should have borrowed less. I borrowed less than $50,000 combined for both my private nursing education (Xavier University) and public law school education (University of Cincinnati). One of my financial goals, is to pay off my consolidated loan in 5 years.
If you combine and defer your undergraduate and law school loans, PLEASE consider paying on the interest; that's what kills you and keeps you awake at night because in a matter of years, $75,000.00 can turn into $110,000 easily.
I was clueless when I attended law school from 1994-1997. I didn't know anything about the job market and I was told to clerk at the largest firms that I could because I had the grades. I just knew I wanted to be a nurse attorney and help nurses. I clerked at two large law firms my first and second year of law school and worked for another law firm after graduation for almost two years. Did you clerk during law school? What was your experience?
I determined early (1st week of my 1st year clerkship) that I didn't want to work in a large firm, but the salary was nice and I needed the money and the experience.
I am a solo now and I celebrated my sixth year in solo practice this year. The job market for attorneys and law students is what you make of it.
You have a J.D. and depending upon what you majored in undergrad or your employment before, during, and after law school, you can leverage your knowledge, skill, and abilities to create your ideal position. Most folks want things handed to them and this surprises me even as a Generation Xer.
This is my ideal position being a home health RN, solo attorney, and consultant. I am self-employed and I network, market, and advertise to create additional opportunities in the future.
What is your ideal position?
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