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Law School Tuition Over the Last Forty Years
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Date: July 2nd, 2012 9:23 AM Author: Vengeful Roast Beef Home http://www.volokh.com/2012/06/29/law-school-tuition-over-the-last-forty-years/ (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001692) |
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Date: July 2nd, 2012 9:25 AM Author: Racy rusted candlestick maker To get a better sense of what these numbers mean in regard to how expensive American legal education has become for the average American family, let us return for a moment to the University of Michigan Law School. Recall that in 1971 annual resident tuition [at Michigan] was $4,443 in 2011 dollars. In that year, median household income in America was $49,709 in 2011 dollars. One year’s resident tuition at what was then and remains now one of the nation’s pre-eminent law schools cost almost exactly a month’s (pre-tax) income for the average American household.
In 2011, median household income in America was $49,909, i.e., almost exactly what it was 40 years earlier. But now the average American household would need to spend slightly less than an entire year’s worth of pre-tax income to pay for a year’s resident tuition at Michigan Law School. |
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Date: July 2nd, 2012 9:26 AM Author: Vengeful Roast Beef Home cr (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001704) |
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Date: July 2nd, 2012 9:33 AM Author: misunderstood sienna lay Who gives a shit about the median of the entire country. You really need to look at legal salaries, preferably biglaw, to make sense of the increases.
Why would you factor what a teacher in bumblefuck iowa makes in determining the reasonableness of the cost of a law degree? |
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Date: July 2nd, 2012 9:35 AM Author: Learning disabled avocado senate Bumblefuck Iowa has lawyers too. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001735) |
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Date: July 2nd, 2012 9:35 AM Author: misunderstood sienna lay jesus christ, quit being retarded. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001736) |
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Date: July 2nd, 2012 9:39 AM Author: Learning disabled avocado senate Iowa doesn't have many law schools and not many lawyers. NYC has like 12 law schools which much higher tuition. So it balances out. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001745) |
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Date: July 2nd, 2012 9:35 AM Author: Racy rusted candlestick maker I would wager that 50% or more of first-year lawyers make ~50k or less (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001737) |
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Date: July 2nd, 2012 9:36 AM Author: misunderstood sienna lay reading comprehension fail? people don't go to law school with the hopes of being median or below. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001740) |
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Date: July 2nd, 2012 9:39 AM Author: Racy rusted candlestick maker How many times have you punched or bit the air since you started posting ITT (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001744) |
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Date: July 2nd, 2012 10:18 AM Author: misunderstood sienna lay I'm sarcastic, not angry. I love fucking with retards such as you. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001866) |
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Date: July 2nd, 2012 10:14 AM Author: Vengeful Roast Beef Home Why the fuck would you look at biglaw when 10% of law grads do that? And those 10% only make that amount for a few years and then their salary goes DOWN, compared to back then when it just kept going up and then you made partner? (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001857) |
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Date: July 2nd, 2012 12:52 PM Author: misunderstood sienna lay Because law tuition falls in line from the top down. Nearly all of the T3 law grads are able to do biglaw if they want.
The T3 sets the tone and it all trickles down.
It's a cash cow, no doubt. But it's set and priced at what the market will afford. |
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Date: July 2nd, 2012 3:23 PM Author: Vengeful Roast Beef Home This has nothing to do with whether law school is worth the price. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21003237) |
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Date: July 2nd, 2012 9:10 PM Author: Arousing National Security Agency NYLS charges the same as CLS/NYU. there's no "market" here unless you call a gigantic government entitlement program for HYS > COA clerks a "market" (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21005350) |
Date: July 2nd, 2012 9:26 AM Author: misunderstood sienna lay Ok...it doubles every 20 years. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001698) |
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Date: July 2nd, 2012 9:27 AM Author: Learning disabled avocado senate The biggest increase came from the 80s to the 90s, not the 00s. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001706) |
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Date: July 2nd, 2012 9:29 AM Author: misunderstood sienna lay yeah. it doesn't seem like it's an all that recent trend. when starting salaries started going out of control, the law schools seemed to just decide to make them cash cows.
I doubt they'll reduce tuition now that the salaries are less attractive, though. |
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Date: July 2nd, 2012 9:26 AM Author: Learning disabled avocado senate To get a better sense of what these numbers mean in regard to how expensive American legal education has become for the average American family, let us return for a moment to the University of Michigan Law School. Recall that in 1971 annual resident tuition [at Michigan] was $4,443 in 2011 dollars. In that year, median household income in America was $49,709 in 2011 dollars. One year’s resident tuition at what was then and remains now one of the nation’s pre-eminent law schools cost almost exactly a month’s (pre-tax) income for the average American household.
In 2011, median household income in America was $49,909, i.e., almost exactly what it was 40 years earlier. But now the average American household would need to spend slightly less than an entire year’s worth of pre-tax income to pay for a year’s resident tuition at Michigan Law School.
Omg |
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Date: July 2nd, 2012 9:28 AM Author: Vibrant Slimy Church Building Keepsake Machete (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001712) |
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Date: July 2nd, 2012 9:28 AM Author: Racy rusted candlestick maker How much did the average first-year lawyer make in '71, '81, etc? (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001710) |
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Date: July 2nd, 2012 9:29 AM Author: Learning disabled avocado senate 115k 1400 billables (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001713) |
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Date: July 2nd, 2012 9:30 AM Author: misunderstood sienna lay it was like 95K in 2000. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001720) |
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Date: July 2nd, 2012 9:31 AM Author: Learning disabled avocado senate So that was over 100,000 gallons of gasoline. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001723) |
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Date: July 2nd, 2012 9:34 AM Author: exciting saffron institution lol (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001733) |
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Date: July 2nd, 2012 12:55 PM Author: Azure razzle-dazzle step-uncle's house hahaha (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21002531) |
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Date: July 2nd, 2012 9:30 AM Author: Vengeful Roast Beef Home I don't have the answer, but it was like shooting fish in a barrel back then. A golden ticket to decent paying work. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001717) |
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Date: July 2nd, 2012 9:30 AM Author: exciting saffron institution cq (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001718) |
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Date: July 2nd, 2012 9:31 AM Author: exciting saffron institution first years didn't make 160k 2012 dollars in '71 or '81 or '91 (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001722) |
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Date: July 2nd, 2012 9:32 AM Author: Racy rusted candlestick maker 95% of first years don't make that now (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001726) |
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Date: July 2nd, 2012 9:33 AM Author: exciting saffron institution yeah, but just sayin'. A lot of the HLS grads are making that. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21001728) |
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Date: July 2nd, 2012 10:16 AM Author: Vengeful Roast Beef Home For a few years before being kicked out of biglaw.
The guys back then were making partner. |
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Date: July 2nd, 2012 12:57 PM Author: Adulterous startling gas station I think the BIGLAW salary arms race started in '68 with Cravath bumping to $15,000, which is close to $100,000 today. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21002542) |
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Date: July 2nd, 2012 3:39 PM Author: Talking locus This country doesn't need any more lawyers. I say, push costs HIGHER and use the money to subsidize med schools. |
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Date: July 2nd, 2012 9:11 PM Author: Arousing National Security Agency the first doesn't follow from the second. if you push costs higher idiots will just pay more. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21005356) |
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Date: July 2nd, 2012 9:13 PM Author: talented lemon mexican This thread is worthless without a graph. Brain dead Americans need graphs. (http://www.autoadmit.com/thread.php?thread_id=1984614&forum_id=2#21005367) |