Almost 71,000 people applied to law school for the 2021 enrollment year. That’s about 13% more than for 2020. And those who applied applied to far more schools (27% more) as compared to 2020. Like any business sector, law schools responded to this demand by increasing their supply: the total number of first-year students enrolled in law school increased more than 10% from 2020 to 2021. While a tiny number of law firms pay starting salaries of $200,000, getting a job at one is virtually impossible unless the applicant graduates near the top of their class from a top law school. What can the average first-year attorney expect to earn? About $70,000. Thinking about an MBA? Read I Went for an MBA at 43. Here’s Why Business School Rankings are Meaningless, by Josh Beach. More generally, to the extent, you were not born with a trust fund waiting for you, do your research before investing six figures and years of your life.
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