How much is too much?

Recently, thanks to Nando of http://thirdtierreality.blogspot.com/, I was pointed to an article in the New York Times, CUNY Leader's Salary Outpaces Faculty. I was stunned to see that the salary of this individual is now over $600,000 a year, which includes a $90,000 a year (think: $7,500 a month) housing allowance. That's right, $7,500 a month for housing ON top of a massiave wage. And some people still claim that the education system is not experiencing a bubble? Do people honestly expect that this system will never collapse?




"He has also received a series of raises that have nearly doubled his base salary. His total compensation package, which includes a $90,000 housing allowance, is now just over $600,000. Last fall he was granted a 9 percent salary increase, at a time when some other college presidents had chosen to turn down raises out of support for campuses pinched by the economic downturn." -The New York Times

Who Is Paying the Price?

It is the student that pays the price for college, both at the beginning, through tuition, and at the end, through the lack of jobs and oversaturation of graduates in the market. The supply of degrees grossly outpaces the demand for those who hold degrees, and thus, hundreds of thousands of people are suffering. Student loan debt is through the ceiling, yet this is barely addressed, as many people still falsely believe that college is a golden ticket. Even today's youth seem enamored that they are part of the 'college crowd'. Images of big money dances around in their heads.

For example, on social networking sites, such as Facebook, students share their grades and the pride for the education that they are receiving. Their parents and grandparents, some of which never went to college and who saw the friends of theirs who went to college make it big, tell them that their lives will be wonderful because of it. Fat cat deans and administrators smile at this, laughing amongst themselves at those who blindly take out loans for tens of thousands of dollars, or those who use their parents life savings to attend college.

Ripped Off at the Community College...

I was always told that taking two years at a community college before transferring to a university was a good idea. At one time this was, but now even a community college is not cheap. While a few exist that have low rates, many charge almost $1,000 a class, and once you add room and board, a semester comes out to quite a sum. Of course, this is less than the big private universities, charging outrageous sums that increase yearly for no rhyme or reason. However, gone are the days where a community college education followed by 2 years at a university were a good value.

In Awe...

There are thousands of children dreaming of going to college. Their parents will continually tell them to to go school. They will be laughed at by their college going friends if they consider any other option. The idea of taking over father's lawn mowing company or the family painting company is mocked and ridiculed. Why learn a trade when I can be a lawyer? Why learn plumbing if I can learn physchology? Such ways of thinking are condoned, and even celebrated. Parents smile at the idea of their kids going to school. "If you won't take over father's store, then you had better at least go to college."

And these children are taught that all that matters is that degree. Some are taught that internships and networking will help, and it does help, but it does not guarantee success.

I can not help but wonder what the deans of these schools tell their kids when it comes time for them to make the college decision. I would imagine some are whisked away to schools like Harvard, where a degree still has power. Others may be set for life, living off of father's investment income, or playing Marco Polo in the pool on the family yacht.

What Should I do Then?

You, dear reader, should not stand for this kind of thing. You can make an informed choice when it comes to your education. You need to make yourself aware that the traditional college method is NOT the only way through life. There are many people who do not go to college and who are successful. If you put 4-8 years of your life and money towards starting a business instead of going to college, you would have a much better investment. Consider learning a trade, or entering a program that does not ask for tens or hundreds of thousands of dollars. Consider taking over a family business or working with someone in the family if there is such an indvidual. If you do decide to learn a trade don't get ripped off by paying excessive amounts. Many schools are taking advantage of this bubble by popping up and taking your money. One person I know goes to massage school and has to take psychology classes to learn massage. This may be a sign of a rip off.

As a consumer on the verge of paying excessive sums to work for those who you paid you should make an informed decision. If you are going to law school think long and hard about your choice. Look at your connections and resources, but do not go blindly. The real legal job market, not the one that is in the law school brochures, is a terrifying place. Don't listen to the lemmings on top-law-schools who have no clue about the world out there. Many of those individuals are 0Ls with no clue what the legal market is like. Paintings of dancing bronies exist in their minds, and dollar signs light up their eyes. And they claim to be superior and unlike any before them.

Law school teaches you only a few things of value. One of them is research. Law school does not want you to research this information before you enter school, however. The schools want you to research what you can do with $160,000 a year, plus bonuses. They only want you to research the information they send you via e-mail or in the postal mail. However, you will make a much better decision if you at least know what you are getting yourself into before acting.

Law School as Prison

 This is the room in which we learned about Torts.

When I first started this blog, I was unsure what I would write about.  Surely, that is only so much that one can say about the whole law school experience, isn't there?  At least, that's what I thought at the time.  However, searching the internet and sitting in class, thinking not only of the legal reasoning that is taught to us, but as to the little intricacies of law school, I realized there is truly much to say.  I was also stunned by just how many legal blogs exist out there.  There are many from wide eye'd young kids who are just entering law school and are no doubt using the blog as a medium to brag to their contemporaries that they are going to law school, and then there are those who were hardened by the whole law school experience, much like a young man who emerges from prison and looks at the world.  I was the former; I am turning into the latter.

Law school can be likened to a prison (سجن) in many ways.  The Dean is the Warden.  You only sometimes see this individual.  He is talked about often, but rarely seen or heard from.  When something goes on in the law school, his name is generally on it.  When the paychecks are cut, his is the biggest.  He knows what happens in those hallowed halls.

The law professors are the guards.  They torture you with long readings and calling upon you randomly in class, hoping that you will stumble, so they can waterboard you.  I have been waterboarded three times during my first year.  Trust me, it was not fun.  The professors often claim that they love the law, and their jobs, but me thinks that they love their big paychecks, which, after the warden, is probably the next largest.  If you get 'good behavior' you get an extra 1-3 points.  Whatever the hell that means.

Next is the janitors. These men and women lurk in the halls generally during the morning and evening hours.  Outside they may be seen having a cigarette.  We prisoners refer to them as the 'lucky ones'.  These are the guys who got a job at the school after graduating.  Yes, rumor has it some were us law students at one time.  These individuals are sworn to silence, never able to whisper in the ears of a student how it's all a big hoax.  "You can escape at any time.  The exits are right there!" they long to say, but they can't, lest they would lose their jobs, which they had to beg and plead for so many years ago.

 Professor: "Let me see a show of hands for those who read the 130 pages on vicarious liability last night." 

Last on the list is the prison crier.  This nark is the kid that sits in the front and talks to the professors non-stop.  When a question is asked, the nark, also called gunner, will shoot answers out faster than you can raise your hand.  His answers are generally wrong or not even remotely on topic, but the prison guard/professor likes that anyway, because it saves him from having to talk for a while.  He smiles, adding that extra 1-3 points on the gunner's grade, knowing from experience that it will save the gunner from failing out of prison and returning. 

Of course, there are other players in the law school prison scheme.  It would not be complete without the prison law librarian and the guy who hangs out in the bathroom watching porn on his iPhone.  In the end, this three year sentence is on par with the life sentence that one may experience in the real "Big House", mainly because that probation (the law degree) follows you for life.

Tough Job Market Means Law School Grads are Seeking NonLegal Work!

While searching the internet for information on the legal job market I came across a story from U.S. News and World Report, the entity that ranks law schools (and other universities).  While I would like to go off on this ranking system, which I find largely arbitrary and somewhat asinine, I wanted to focus on this very simplistic article. 

In Tough Job Market, Law Grads Use J.D.s for Nonlegal Work

"Typically, 10 percent of Yale Law School alumni work in a business setting five years after graduating, according to a 64-page Lawyers in Business guide the school publishes. And, jobs in management consulting, investment banking, and venture capital can earn young associates annuals salaries of $100,000 to $300,000, the guide states."

First, I realize that the article is talking about Yale Law School, which is in a different league than most of the schools most of us go to or went to.  However, it is the second part of the paragraph that made me chuckle.  The article acts like this kind of salary is the norm.  No wonder people are so duped into going to law school.  Studies have shown that people believe what they want to believe.  Seeing that even if you don't get a job in law, you can still go out and make up to $300,000 a year as a consultant or banker makes people think "well, law school is a no lose game". 

According to employment statistics on Drake University's School of Law website, 16 percent of the Des Moines, Iowa, school's alumni work in business fields nine months after graduation, and the website of the Boston University School of Law says 17 percent of its 2009 graduates working in law and business began their careers in academia and while 6 percent worked in business.

This paragraph fails to state the realty that 17 percent of Drake's class of 2009 graduates are not working in $100,000 to $300,000 consulting positions.  Many may be working at their father's trucking company washing trucks, others may be employed at Starbucks or Barnes & Noble.  Later on the article does state, about yet another school (Albany Law School), that:

"Other recent graduates are pursuing accounting firms, legislative positions, investor services, publishing houses, compliance and claims jobs, and court analyst roles," Mans says. "Salaries at these positions range from $43,000 to $105,000."

Again, this is not the norm.  One can not expect to go from a lower ranked law school to a $105,000/year job.  Of course, the article states "Salaries for these positions range..." which does not mean that those are the salaries that law graduates can expect to make.  However, many of the law school lemmings at top-law-schools will eat this stuff up and proclaim: even if I don't land a job in biglaw, I can expect to make big money!  Articles like these are the reason why the educational system is seen as a gateway to riches, and why our grandmothers are telling us "just stay in school, it will be worth it in the end."  

My class rank has plummeted.

So, to my surprise, this week it was announced that class ranks were announced.  I knew I would not fare good.  However, I had no idea I would fare so badly.  This is a 180 from my first semester, where I was in the top 1/4th.  Now I am near the absolute bottom of my class.  Frankly, when I saw it I was stunned.  Part of me wanted to break down, cry.  For a moment I began thinking of applying for graduate school and leaving law school.  Perhaps a masters in Economics/Finance or Mathematics.  I am sure that either of those would be a wiser choice than law.  However, as the night progressed, I came to terms with the fact that my rank has plummeted and I will never be able to get back to where I once was, and that I may never work as a lawyer.

First, going to law school was a stupid choice.  No doubt about it.  Based on the reading I have done in the past year and a half I can honestly say that I should have never went to law school.  Do I wish I never went to law school?  Part of me does, but another part of me knows that if I did not go to law school I would have always thought I failed for not going, and imagined that my life as a lawyer would have been glamorous.  I would have never searched for the scamblogs or learned the harsh reality of the law profession.  In my mind I would have saw an imaginary life that I missed out on.  And I would have lamented that probably for the remainder of my years.

But now, having gone to law school, my eyes have been opened to the reality that it was not I who failed, but the schools that failed to paint a clear picture of reality.  Now, don't get me wrong, I failed in the sense that I didn't get a high LSAT and got into a top school and made top 10% grades.  But, was that something that I would really have wanted out of my life?  Do I really want to be a big firm attorney?  I can not deny that the pay and the lifestyle that it would buy are impressive.  However, selling my soul for those kind of hours, for that kind of stress is in my eyes just not worth it.  I have, however, failed in the sense that I did not research the law profession before going to school.  In fact, if law school has taught me one thing, it is to research. 

In fact, it's somewhat ironic that law school teaches one to research so well, yet if we had researched in the first place, we would have never went.  That is, if we were smart.  Some of us, no doubt, think we will be different.  That we will get the good jobs, or that we will network hard enough.  But the reality is, one should not depend on stupid luck to get somewhere in life.  And for many who end up getting positions, that is what it will probably take.  Others, of course have certain connections or are masochistic, and law school is probably alright for that type of person. 

Law school was not right for me, but I ask myself what type of schooling was.  Perhaps I am thinking too narrow.  Maybe no type of school was right for me.  I have always thought of myself as a type of creative person.  I enjoy writing, drawing, music and that sort of thing.  I could have went to college for those things, but I did not think my skills in them were up to par.  So instead I chose law.  I am sure many people were like me in this regard.  Now I wonder if I should have went for something I was passionate in.  I mean, if I won't get a job with this degree, what would have been the harm with going for a degree in film or animation? 

So, am I upset I went to law school?  In the end, no.  It opened my eyes to the reality of life.  I have learned a lot in this process.  Now, has it been worth the price?  No way.  It is an overpriced lesson.  Even my Corporate Finance professor calls it a 'bubble', and there is no doubt it is.  Should have we not learned from the housing crash only a few short years ago?  I think so, and I think that this bubble is going to pop very soon.  And when it does, things are going to be very interesting. 

My class rank now puts me in the bottom 3/4th of my class.  It's time to reassess that which I plan on doing with my life. 

The Real Legal Job Market

The real legal job market is quite perplexing for many.  Law students, especially in their second and third years, worry that they will not find a well paying legal job after graduation.  Stories exist all over the internet and in media stating that law school is a risky game.  Perhaps it is.  But, everything in life has some risk to it.  There are no lucrative career choices out there that do not involve some type of risk.  Law school is the same.

With that being said, many people are ending law school with underemployment or straight unemployment.  The newspapers love to tout stories about law students who were unable to find any type of work at all and are working in fast food or in other jobs that do not require a college degree.  Why?  Because such stories, even if somewhat rare, sell papers.  Newspapers exist to bring in advertising revenue.  Stories that evoke fear sell. 

However, as a law student, I am seeing that many of my peers are graduating with legal work.  I go to a second tier law school in New York.  Competition here is fierce.  We have many law schools in this city.  With that being said, I have found that law students who have a plan succeed.

One book I read: How to Win at Law School (which is an Ebook), helped me out a lot with realizing what I need to do to find a job.  Without stealing the book's thunder, I want to share some of what was said in this book.

First, you need a plan when going into law school.  Those who plan ahead will find success.  I have found that planning ahead in life had helped me out a lot.  For example, I knew that I wanted to transfer schools.  I went to a lower ranked school and at the time rank seemed important to me.  I have since learned that outside of a few schools rank is not that important.  However, I moved towards my plan and transferred to a much better ranked school.  I am happy with my move. 

Second, learning how to get good grades is going to help you a lot.  My grades have not always been that good.  However, my first year grades were decent and helped me transfer.  Good grades get me noticed.  They will get you noticed too, even if you don't have moot court or law review.  Many people let the lack of those things hold them back, but I have since realized that I am glad I did not take either.  First of all, Law Review does not guarantee that you will be published.  It's also an intense amount of work that may not be worth it in the end.  I have found that getting legal experience during law school helps out a lot.

Taking clinical classes and getting legal experience while studying has given me a huge edge on competition.  However, I am finding that those who do get legal experience in law school are way ahead of the game when it comes to getting a job.  Today's legal economy demands that students have relevant work experience after law school.  It demands that students are somewhat prepared for law work.  While not all my internship experiences were great, I am glad that I did take the time to intern.  I learned that law is a challenging field and that law school alone is not enough to get a good job.  I am finding that those who are upset with law schools are often those who did not get practical work experience in college.  I must say, what does one expect?  You are training for a job.  You have to get experience in school -- which means working.  It is your choice to do that or not.  Employers will hold you accountable.  Further, if you want to start your own law office after law school, having that experience is going to help you out a lot. 

I don't think the legal economy is as bad as the newspapers say it is.  I think that there will always be people who spread fear and people who do not find success.  Those who want to do well in life and who try will invariably succeed.  You have to be goal driven and forward thinking.  There are no easy ways to win at life.  It starts and ends with you. 

Again, to succeed in law school and today's legal economy, I recommend buying and reading "How to Win at Law School" and:

• Realizing what you want to get out of law school.
• Creating a plan for success.
• Learning how to get good grades.
• Prepare for the Bar Exam as you go through law school.
• Get a lot of legal experience during law school.
• Taking at least one clinical class.
• Planning on getting letters of recommendation from at least three of your first year classes.
• Doing something every summer.
• Try to work at least one internship during the school year.
• Maintaining a positive attitude.
• Creating a goal notebook and checking it often.

1L's are so cute...

It is always interesting to me how at the beginning of the semester there are so few people in the library.  I tend to study there, myself, as I like how quiet it is in the morning and I, for some reason, can not study at home.  Maybe it's the distractions.  Either way, I was in the library briefing some cases and could not help but notice there was someone next to me studying.  Being curious by nature, I decided to see what class she was studying.  It was contracts.  I noticed she had all her markers out, sticky notes of various colors, and a bevy of pens.  I smiled, thinking to myself about those 1L days, when everyone used to think of law school as a type of kindergarten. 

Then, on the way to tinkle, I noticed another person with loads and loads of notecards, and she was writing like a fiend.  Again, a 1L class, Torts.  I smiled, thinking "these 1L's are adorable".  I rarely, in the upper classes, see anyone doing this type of thing.  Everyone is a bit more lethargic and scared in the higher up classes, except for the few that probably make themselves feel better by going to top-law-schools and posting about how they are going to find a job, but nobody else will. 

I kind of miss the days when I highlighted in my Property book in 4 colors.  Blue for rules, pink for profound sayings, yellow for important parts, pen underlines for important facts, and green for policy.  Now I just scribble and read through furiously, wondering if this stuff will even be asked about on the test, or hoping that I don't get called on for the next class. 

I will say, law school was a lot more fun before my highlighters all went dry and my books looked like the rainbow.  In fact, I wonder what the people who bought them off half.com thought when they received my old books.  If it was me, I would have been depressed, thinking to myself, awww I wanted to color in it.  In fact, it probably feels like you purchased a used coloring book.  Maybe not as many people are like this, but I was, and a ton of 1Ls seem to be.  Maybe it's a type of syndrome.  A side effect of the law school education. 

Law School Class Rank | Transferring Law Schools

I recently received the following e-mail:

PLEASE DO NOT RESPOND TO THIS EMAIL

Dear Upper Class Students,

                Class ranks are recalculated at the end of each fall and spring semester.  This cannot be done until all grades have been submitted by the faculty.  At present, three class rosters of grades have not yet been submitted by faculty to the Registrar.  This has been reported to the Associated Dean for Academic Affairs and  the faculty, according to faculty rules, are being fined $100 days per day per roster.  When the grades are submitted, I will re-calculate class ranks and send an email notifying you that you can find your new rank under Grade Point Average by Term in Web Advisor.  A class rank letter will also be mailed to you. 

 I could not help but grin at the thought of a law professor, who probably makes well over $120,000 a year being fined the massive sum of $100 per day!  Can you imagine?  Now, keep in mind that this letter was sent on January 14th.  As of today, February 3rd, there is still no class rank posted. 

What kind of motivation is needed then?  I do not think that the sum of $100 a day is going to do much, especially if he/she values being able to take the grading process very slowly and instead do whatever it is that law professors do.  It may be worth $100 a day to sit back and focus on other tasks, such as playing Virtual Boy, or whatever it may be.

Virtual Boy -- the greatest gaming system of all time!

In fact, this is not the first time something similar has happened to me.  During my 2nd semester, one of my professors was late in turning in exams.  Professors are often given a month's time to grade exams, and to be late on this, when people use their grades for jobs, transferring, and other professional tasks, seems irresponsible.  Professors get angry when their students do not know every little tidbit of the case, yet it's alright for them to be chronically late with exam grading?  We are not the ones being paid thousands upon thousands of dollars to teach a couple of classes using the same recycled notes from years past.  

Perhaps there are better ways to motivate a professor.  A wage reduction for chronic lateness in grading papers?  Being disbarred perhaps?  Maybe a caning like in Singapore?  Something along those lines would be more in line with the real motivation that is needed.  I say we take 'em all out back and flog 'em even if one is a second late!  That would make for a more interesting law school experience, and a better one for the students, I imagine.  A floggin' instead of playin' the ol' Virtual Boy.  It sounds like a plan!

The Importance of the Law School Class Rank

Why is the law school class rank so important?  Well, if you are lucky enough to do well it is said you have a better chance of getting a coveted "big law" job.  Further, if you are in a lower tier school, such as a third tier school, you can often transfer to a better school.  That being said, transferring law schools comes with its price.  You lose your scholarships.  You must weigh the costs and benefits of changing law schools.  Is it worth having the name of your school on your JD and looking for a job under that school's pedigree, or would you rather have a more refined name on your diploma?  For some, having a better school named on that piece of paper is very important.  Others care mostly about the debt they will carry.  Ultimately the choice is yours.

I would like to say that oftentimes the transfer doesn't really have a much better chance of getting a big law job.  For example, take a student who transferred from Golden Gate University in San Francisco to Seattle University in Seattle, WA.  Golden Gate University is a very low ranked school (fourth tier I believe).  Seattle University is a second tier school and is said to be regional in its reach.  If you are planning on practicing law in San Francisco or even California, you may want to stick with a school like Golden Gate University School of Law. 

Golden Gate University, entrenched in the fourth tier

However, if you are hellbent on practicing law in Seattle and you abhor the idea of having a fourth tier school being your alma matter, then you may want to transfer.  Again, you will probably (read 99% chance -- maybe more) lose your scholarships.  Further, if you did well at the lower ranked school, you may want to stay. 

You will want to weigh where you want to practice in your analysis.  In the above example, if you want to practice law in Seattle, you may want to make the transfer.  A Golden Gate University Graduate may not have a good chance of practicing law in Seattle.  Seattle is a very hard market to practice in I have been told, and students from schools in Washington such as Seattle University and Gonzaga University are having a hard time competing with students from University of Washington School of Law.

University of Washington School of Law

That being said, if you are going to Golden Gate University, you are competing against UC Hastings, University of San Francisco (now in the third tier), and Stanford.  Oh, did I forget UC Berkeley?  You're also competing with UCLA and some of Southern California's great schools.  Oh, and throw in Harvard and Yale, and even Columbia and the other big boys.  So, you are realizing that maybe this whole law school thing wasn't worth it.  I know I sometimes do.  So, do you want to transfer or do you want to cut your losses? 

In the end, I find that the whole law school thing is mind bogging and just plain upsetting.  Do you want to play a game in which you constantly trying to climb to the top.  If you are going to a low ranked school, you have to realize you are at the bottom of the pack, and to climb up from the fourth tier to the tip top and be lucky enough to get a job is not a small feat.  In fact, it's next to impossible.  And if you have the drive to do that, why did you not get into the top schools in the first place? 

Of course, I don't want to depress you, but it is something to think about.  If you are still a 1L and are thinking of transferring, ask yourself if there is anything you would rather do, and if that something is something you can do now, why not put the law school thing aside for a while?  It will always be there when you feel the need to come back.  However, the reality is, there may not be a want to come back once you find that you are truly passionate about something else.  Further, law school is not Perry Mason or Judge Joe Mathis.  In fact, Law School is a headache. 

Either way, think about it long and carefully.  And let me know what you think in the comments below.