One of the things I have emphasized to my readers for years is that economies are
cyclical. It is worth mentioning again during our much stronger current economic cycle.
The market for lawyers tends to track the general economy. Some legal fields – such
as bankruptcy and employment law – often do well in downturn economies. But as
a general rule, a stronger economy means a greater need for lawyers.
The good news is that the market for lawyers remains strong, and prospects look
bright. Law firms are hiring, well-qualified law school graduates are getting good
jobs, and salaries are increasing. Of course, some caveats apply: where you go to
law school, and how you do in law school, impact your level of success. But it’s still
welcome news, especially for those who remember that stubborn Great Recession.
Despite the good news, I will give the same advice to students considering law
school that I have given for over a decade: go to law school because you want to be
a lawyer (or because you want a law degree for some other reason). Don’t go to law
school simply because the economy is strong right now. Things will change, and the
economy will have its ups and downs over the course of your career.
Finally, if you or someone you know is going to law school, remember that solid
preparation for the LSAT is a necessity. It will have a massive impact on (1) your law
school options, and (2) merit-based scholarships that can exceed $150,000 of post-
tax money (and there is no exaggeration in that number!).