To hear many students tell it, law school is a guaranteed ticket to a well-paying career. So a recent milestone must have sounded like good news.
The United States last week became the world's first nation of 200 accredited law schools, as the American Bar Association gave provisional approval to two N.C. institutions.
In other countries, it's much harder to become a lawyer. In the United States, the doors are open and getting wider. The 150,000 students enrolled in law schools last year were an all-time high. So adding more slots means even more avenues of opportunity, right?
On closer inspection, however, the economics of the “more is better” argument for legal education don't necessarily hold up.
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It's the numbers at the top that get all the attention: At the largest law firms, median starting salaries were $145,000 last fall, according to NALP, an organization that tracks law placement.
But many students don't realize at first that the high-paying law firms recruit almost exclusively at institutions ranked in the top 15 or so. Overall, the median salary for new lawyers is $62,000. For public interest law jobs, new lawyers can expect about $40,000.
Meanwhile, the average amount students borrow to attend a private law school surged 25 percent between 2002 and 2007 to $87,906, ABA figures show. For public law schools, it averages $57,170.
One symptom of the surplus is the rise of so-called “contract attorneys” – essentially temps with JDs (the doctor of law degree). They work for roughly $20- to $40-an-hour on often monotonous tasks, like reviewing documents, that law firms outsource.
Regardless, universities continue to build law schools.
With provisional accreditation, Charlotte School of Law and Elon University were Nos. 199 and 200. Nine others operating share that status. And at least 10 new ones are in the works nationwide, The National Law Journal recently reported, in states including Connecticut, Pennsylvania and California.
“There's no question that we simply have a glut of law schools,” Makau Mutua, interim dean of the University at Buffalo Law School, told The Associated Press.
For universities, a new law school is a lot more attractive financially than, say, spending money to make sure more undergraduates complete their degree within six years (national average: 57 percent).
Law schools have big classes, and don't need to provide much financial aid because students are expected to borrow the money they need.
The case for some new law schools is stronger than others, and Gene Clark, who leads Charlotte School of Law, makes a pretty strong one.
Charlotte is the largest city in the United States without a law school, he says, and fast-growing North Carolina has the fewest lawyers per capita of any state.
Clark says his institution fills an important gap, serving underrepresented groups and providing a flexible schedule for working adults. While the market for traditional lawyering jobs is mixed, he says, it's strong in other fields for people – law-enforcement officers, entrepreneurs – with legal skills.
Finally, Charlotte School of Law is a for-profit institution. Unlike several schools in the works, it isn't taking public money. It will have to offer students good results, or it will go under.