Should You Do A Law Degree?
People assume that being a lawyer will automatically give you a high paying job with lots of benefits. But, currently the market and status for lawyers have changed dramatically the past few years. Here are some things to think about before starting a law degree.
1. The market for lawyers is very saturated at the moment
In the United States, the market for lawyers is currently saturated. Currently, there are too many lawyers that have graduated law schools looking for a job. This is because there is too many law schools and hence too many graduate lawyers looking for a job. Therefore, if you want a career that is easy to get a job, law is not it at the moment.
2. A law degree is very expensive
To complete a bachelor degree is very expensive. It is more expensive than any other degree such as accounting, commerce or finance. It can take up to four or more years to complete a law degree, so it requires a lot of capital to finance your degree.
3. Lawyers have a high status in society
At the moment, lawyers have a high status in todays society. They get respect as they have the knowledge and power of the law. They can use this to their advantage and can get a lot of influence in society. For example, there are many politicians that are lawyers because of how much influence they have socially.
4. Lawyers can be very highly paid
Lawyers at the top tier levels are very highly paid. They can earn easily in the millions. But, if you are a new graduate, then it is quite common for new graduates to earn at least $40,000 a year. This is not much considering you have to pay back your college loan also. But, if you climb the professional ladder, you can easily earn a lot of money!
5. The profession can demand long hours
The law profession can demand a lot of hours of work. It is quite common for lawyers to work ten hours a day at least. Therefore, if you have a family or have certain commitments, than it is going to be very difficult to have time to spend them with.