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Vault Message Board: Law School

Topic Name: Misconception, the amount of A- - you kiss, and your self worth
Message Name: By simply being aware
Date Posted: 04/24/2002
In Reply To: i appreciate your insight: here is my point. The average first tier school tuition is around 25k per year. This does not take into account living costs in cities like DC, NY, Boston or chicago which all have relatively higher living costs then say a smaller midwestern city. Thus, it seems that you're looking at roughly 30k a year (conservatively) which amounts to at least 90k in total law school debt, not to mention whatever undergrad debt you do have. Moreover, when you are in law school, your opportunity costs include not being able to work say a 40k job if you have a BS degree. furthermore, all your school loan payments are not tax deductable when you enter the upper tax brackets. the amount of loss you incur seems redundant in every financial aspect if you analyze the whole picture. My point is, you need to use your head when making such a life and wealth altering decision. that's what i am trying to do now. As far as proving yourself: when you say intimidating, i can imagine that it is. however, what i meant was that it is also personally insulting in general. When you are building your reputation in the legal field, you obviously must prove your talent, but that's only because you are subjecting yourself to getting paid by others. I am not saying it is unnecessary to have proven your abilities in the context of employment by others. but you are absolutely right, it seems that law school and beyond becomes an escalating commitment. the question is when trying to decide about law is also whether or not you want to subject yourself to working for a firm/other people all your life: until of course you have the ability and finances to begin your own business, which will also be delayed by all the debt you incurred. I am bitter about suffering in my youth for the future. i think about it every day. I am a firm believer in suffering and working hard now for what you want to achieve in the future. But, if you are going to use up your youth, it should be for your benefit, it should be for maximum benefit. Why? because your youth is such a special part of your life. using your 20s going to law school, not working, and incurring all that debt etc. does not benefit you. sure you become a lawyer, but it only additionally brings you a higher amount of future realized income that will be taxed by the govt etc. the cost/benefit analysis tells me that the costs are too high. there has to be a way around this scenerio while still achieving your academic and career goals. Can i ask if you are currently an attourney? i can imagine how competition adds an additional stress factor in a firm environment. I got a job at a firm this summer and am looking forward to trying to understand its 'political' situtation and how that effects everyone in the firm. that's important as well. Lately i've had a chance to speak to some lawyers, particularly litigators, and this one guy told me that all the lawyers he knows are miserable. He flat out told me not to be a lawyer. you can imagine that this was extremely disconcerting. (and yes, i know people are annoying: one guy tells you it's great, the next woman tells you it sucks... you have to figure it out) buti think i realize now why some of these lawyers are bitter. it's the costs in gettting there, the stress etc. and some ofthese ivy people become even more bitter when they realize they are competing with some 3rd tier graduates who were at the tops of their classes and somehow made it to the firm: without giving up as much. Maybe this has something to do with that. My situation is that i know exactly and specifically what type of law i want to practice, but i do not know what the best way is to get there.
Message: of the ambiguities -- the fact that you can either love or hate the law, you can be successful or unsuccessful at it, and that you are spending years of your life you can never get back -- you are reducing your potential for bitterness/regret. People regret choices made without consideration. They regret hurting themselves and others because they were thoughtless. However, in general, people who face a challenge head on, do their best, and accept that there may be difficult consequences, have far fewer regrets than those who go through life with a sense of entitlement, an assumption that everything should go right and be perfect. At the end of the day, if it turns out wrong, the latter says "man, I was robbed! I got no respect! Those people I worked with were all jerks, and those teachers lied to me!" The former says, "wow, that was exciting. I got really close. I did some things I wouldn't have thought I could. I wonder what else I could do?"

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