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Law School Tuition Over the Last Forty Years
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Date: July 2nd, 2012 9:23 AM Author: Stirring ruby theater coffee pot 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: massive corner 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: Stirring ruby theater coffee pot 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: duck-like at-the-ready french chef center 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: mischievous haunting faggotry locale 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: duck-like at-the-ready french chef center 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: mischievous haunting faggotry locale 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: massive corner 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: duck-like at-the-ready french chef center 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: massive corner 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: duck-like at-the-ready french chef center 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: Stirring ruby theater coffee pot 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: duck-like at-the-ready french chef center 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: Stirring ruby theater coffee pot 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: Insane Bistre Crotch Associate 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: duck-like at-the-ready french chef center 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: mischievous haunting faggotry locale 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: duck-like at-the-ready french chef center 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: mischievous haunting faggotry locale 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: soul-stirring mexican (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: massive corner 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: mischievous haunting faggotry locale 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: duck-like at-the-ready french chef center 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: mischievous haunting faggotry locale 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: Razzle Coldplay Fan Personal Credit Line 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: exciting rose marketing idea 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: Stirring ruby theater coffee pot 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: Razzle Coldplay Fan Personal Credit Line 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: Razzle Coldplay Fan Personal Credit Line 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: massive corner 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: Razzle Coldplay Fan Personal Credit Line 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: Stirring ruby theater coffee pot 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: Elite native 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: mind-boggling effete tank mother 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: Insane Bistre Crotch Associate 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: aromatic candlestick maker 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) |