Analysis : Lawyers and Law Graduates In The United States. The Misconceptions People Have.

Analysis : Lawyers and Law Graduates In The United States. The Misconceptions People Have.

Lots of People Spread Misleading Information, Never trust Rumors.
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College not only provides us with a community that strives for prosperity, it will give us a key to new flourishing possibilities, and one of that is law school. Graduating high school, I had a fantasy that this journey will be simplistic, obstruction free and with extraordinary compensation in the end. However, that isn't the situation at all, in fact, they are more obstacles and facts that people need to know about the law field before dedicating to this route.

According to the Bureau of Labor Statistics, in the time span of 10 years 2014-2024, there will be an estimated 157,00 total job openings for lawyers. This sounds great alone, it becomes troubling to discover that in 2016, there was a total of 37,124 law graduates. If this trend maintains, there would be approximately 350,000 law graduates in 10 years, but according to BLS, only 157,000 jobs for lawyer positions will be available. This means that there is a good percentage of law graduates that don't become lawyers. The American Bar Association has data for 2016 law graduates and the numbers don't lie.

Around 35 percent of law graduates don't become lawyers and the tuition keeps increasing. 85 law schools in the United States have an 80 percent or lower bar exam passing rate. Pace University with 70% bar passing rate charges $47,210 tuition and Thomas Jefferson School of Law with a 45% bar passing rate charges $49,500 tuition. Additionally, with the case there aren't enough lawyer openings for the graduates, this doesn't seem prosperous some might imagine law school to be.

Speaking of Thomas Jefferson School of Law, if you are nevertheless planning to go to law school, use the employment summaries from the American Bar Association to search up a law school before applying. 64 out of 210 graduates from Thomas Jefferson School of Law are unemployed, that is 30% who have no job, and not even a teacher.


Some graduating from a school like that has to deal with an average of $120,000 in debt. Private law schools charge ridiculous rates without a promise of a job. There are even misleading debt averages reported from colleges on famous websites like U.S. news. For Law Schools to attract more students, they try their best to lower there reported debt averages to gain more collected tuition money, those averages aren't accurate.

"Law School Transparency reports that a Harvard Law grad with no scholarships will have a student loan bill between $297,548 and $322,348, with a total repayment of between $400,000 on a 10-year plan and $550,000 on a 20-year plan" and "In other words, over 50% of HLS students are paying full price to attend"

"In other words, over 50% of HLS students are paying full price to attend."

"So this means that the average debt of $149,754 reported by HLS and US News may be misleading. I suspect that most of their graduates have much higher loan balances."

This is just one case, plenty of law schools can be around this scale, maybe a little less. At least Harvard gets you a job, unlike Thomas Jefferson. This for-profit law school disproves the myth that the more expensive a college, the better it is for to find a job. A lawyer graduating from Cornell Law School might be making $150,000 a year (probably less), compared to a lawyer graduating CUNY Law making $90,000, can you guess who got more than $200,000 debt to pay up. No shame to Cornell. The journey is troublesome and can be a dangerous investment if you're not careful. Lawyers have a 15% unemployment rate. With what we discussed, it's not a good mix with the outrageous debt and the 65% bar passing rate.

When you hear the rumors that there is high demand for lawyers, they probably mean not the state you live in, but in the entire country. To further illustrate, According to NYTimes Theresa Amato, a lawyer and public advocate at Washington DC, "In Nebraska, 20 out of 93 counties have fewer than four lawyers. Eleven counties have no lawyers at all. The Montana Legal Services Association, a nonprofit group that is partly federally funded, reports having only 13 case-handling lawyers for the entire state". There is unbalance of lawyers for different states, so while there is notably few demand for new lawyers in New York, states like Nebraska and Montana have a scarcity of lawyers. Some states have enough lawyers while others are looking. The author further explains that law school debt makes graduates unwilling to take lower paying legal jobs, they weren't fantasizing that while in school.

You may be willing to go through this because you have a passion to protect, serve the people and bring justice. Families are hurt, political tensions are rising, deportation, and everyone deserves the right to a lawyer. Ask yourself this first.

Am I helping people when in the end, the person I'm helping is paying unaffordable legal fees, just so I can make a great living?

That's for another time to debate.

Cover Image Credit: google

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15 Things That Need To Be Invented Now

The next round of needed life hacks.
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For Millennials, life is constantly being made easier. Compared to our parents' generation, almost everything about the way we run our day-to-day lives has been modified for speed, simplicity, and convenience. You want a cup of coffee? Here, have an instant cup of hot coffee at the push of a button! Missing your friend across the country? Call them with your smartphone, see them instantly! You can Google virtually any question, there is an app for every want and need; each step of the way Millennials are working to make things easier. I have a few ideas to contribute:

1. Extending USB cord: There must be USB plug that can stretch. The way a dogs leash will release more cord as it is pulled on, there needs to be a cord that can stretch as I roll over in bed without pulling the plug out of the wall. The struggle of being attached to a wall is too great.

2. Closet Organizer App: Some mornings you wake up and wonder how it was ever possible that you once found a decent looking outfit in your closet. Other days the prospect of having to dress yourself is just too much. There needs to be an app that can record what is in a closet and make an outfit, for any event, at the ready, similar to what Cher Horowitz has in Clueless.

3. Hangover Curing Drink: Stronger than Gatorade, better for you than pumping your stomach with Advil and water, and putting an end to the old "flu" excuse at work. A foolproof drink that can give everyone what they need to get up, pick their dignity off the floor, and soldier on. You all may thank me later.

4. Rent-A-Boyfriend: Have you ever had one of those weeks where you just need someone to bring you chocolate cake in bed and tell you you're beautiful? Maybe you really can't figure out how to build all the new Ikea furniture for your apartment and you are incapable of rounding up a guy friend to do it. Either way, the ability to rent a boyfriend on a needed basis would be quite handy. Think of all the stuff they could do for you, then you get to return them when you're done! It's like a dream.

5. Parking Tracker: What is it about parking garages that suddenly make everyone's memory go blank? Whatever the reason for the world's inability to keep track of their cars once stationary, it needs to be resolved. Too many minutes are lost aimlessly wandering the garage carrying heavy shopping bags. Please, someone invent a tracking app for your car, so that you can remember exactly where you parked and follow the map directly to it.

6. Forever-Hot Coffee Mug: I'm not sure what type of wizardry would be required to create a coffee mug that can abolish the awful lukewarm state that coffee turns into after such a short period of time, but someone needs to discover it. Long nights of studying and hours-long brunches of switching between the mimosa and the sweet nectar of the Gods will be forever changed by never again fearing cool coffee.

7. Teleportation Pad: The year is 2015; I was promised a flying car. In lieu of the flying car -- I am willing to accept teleportation pads. Think about travel becoming as easy as "stand here and click that button." Imagine not having to bother putting on a bra to go from your apartment to your friend's apartment for wine night! This could be revolutionary.

8. Sassy Siri: Every girl could use someone to help them come up with the perfect come back in a pinch, and who better than Siri! With her constantly involved in your conversations, it would be easy to just ask Siri for a little sass-assistance the next time your best frenemy mocks your highlights.

9. Compliment Earrings: If you have never seen Aquamarine, go rent it now. For those who recall, the star fish earrings were "notorious suck ups" to the girls who wore them. Imagine going through a tough day, when unexpectedly you are given a compliment! Talk about a great mid-day pick up.

10. Food Printer: My stalking of Pinterest food pages has progressed from a mild addiction to a full blown problem; I always find I want the things I see in the pictures immediately. I want to be able to hit print on one of the pictures and have those lemon-blueberry iced cupcakes in my kitchen right then.

11. Necklace De-Tangler: Ladies across the country lose thousands of necklaces to tangled knots. Chains break, two beautiful separates become one big mess, and before you know it your jewelry box is empty! There must be a machine where one could drop their knotted necklaces and have them come out the other side in perfect condition.

12. Hot Slippers: On a cold Monday morning when walking around the kitchen, debating which is worse, waking up or being awake, it would be nice to be comfortable. Nice pajamas are all well and good, but a fuzzy pair of slippers that can become warm? That is the dream. There is no morning too grey or hangover too intense that would not be cured with these slippers.

13. Calorie Rewind: There needs to be a way to take back that entire pepperoni pizza you ate last night. Whether you were not in the proper state of mind to be making that decision, or even if it was emotional turmoil over exams; it shouldn't count. Perhaps the next big thing in weightloss is a pill that allows you to take back a meal. A way to go back in time and undo that embarrassing trip to the doughnut shop down the road in favor of a more healthy alternative? Not a bad idea.

14. Sleepy-Time Studying: How awesome would it be if you could fall asleep with headphones in and wake up knowing an entire textbook? Humans spend an average of 26 years sleeping-- there should be a way to put that time to good use. A way to absorb the information while you sleep should be the next big invention. It would be the perfect cure to the all nighter!

15. Decision Making App: Desperately struggling to pick where to go for dinner? Unable to decide whether to go out or stay in? Unsure of whether it's a day for heels or for flats? These are the everyday questions faced by thousands of Millennials. We need to find a cure for the indecisiveness. An app that takes the guess work out of meaningless day to day questions such as, "Do I want a grande or a vent?" (Or I suppose you could just flip a coin...)

Bonus 16. Articles That Write Themselves: I wish I had a magic box I could give an idea to and it would instantly put print out the article I am trying to write.

Cover Image Credit: giphy.com

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5 Things That ALL Millennials Get Wrong About Investing

Millennials tend to save more conservatively and our aversion to taking risks may prevent us from reaching our full wealth potential.

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Millennials get a bad rap when it comes to making personal finance decisions. But while we may enjoy our avocado toast, surprisingly enough, we're also saving more money than previous generations. We also tend to save more conservatively and our aversion to taking risks may prevent us from reaching our full wealth potential.

Here's what millennials get right about their money and where room for improvement exists.

1. We wait too long to start

Even though experts have long recommended starting an investment portfolio as young as possible, many millennials hesitate when it comes to opening their own trading accounts. This results in missing out on the opportunity to sit back and watch our money grow through compound interest.

Many of us utilize savings accounts but relying solely upon these avenues prevents us from letting our money do the heavy lifting for us. Most savings accounts pay relatively little in terms of interest, often less than 1%. Throwing all our money into savings accounts earns us mere pennies for each $100 we invest.

Instead, millennials need to harness the power of the stock market which provides far more in terms of long-term financial gains.

2. We overvalue cash

Because we came of age during an era of financial crisis, millennials shy away from the stock market. But this hesitancy costs us big time in terms of future economic freedom.

No reward comes without risk, and by far the easiest way to reap huge financial gains remains investing in high-yield growth stocks. The best time to take any financial risk occurs before age 35, before the expenses related to home ownership and child-rearing require more financial conservancy.

Stashing away a small amount of cash under our mattresses for emergencies can't hurt, but wasting valuable time simply saving for a rainy day impacts our long-term wealth. If you're hesitant about investing on your own, hire a qualified financial advisor to manage your investment portfolio.

3. We miss out on tax deductions

Failing to diversify investments means missing out on valuable deductions come tax time. While interest from savings accounts gets taxed at the same rate as ordinary income, the capital gains tax rate remains substantially lower.

In addition, certain types of investments, such as investments in oil and gas partnerships, allow taxpayers to take advantage of government subsidies to offset any potential risks to capital.

Millennials do themselves a disservice by failing to seize these opportunities, as experts predict no decrease in demand for these resources over the next few years.

Even making an additional contribution to a 401k or other qualified retirement account can offset tax liability but far too few of us take advantage of this potential tax-buster!

4. We don't do enough diversifying 

Even though one out of every six millennials possesses over $100,000 in assets, few take the time to adequately diversify their investment portfolio. A strong portfolio consists of a mix of high-risk, high-yield stocks, steady, reliable blue-chip stocks, bonds and other forms of property.

Failing to diversify costs us big time in the long term. No matter how much cash we stash away today, inflation remains a powerful force that decreases the value of each dollar saved over the life of our savings.

The only way to account for price increases due to inflation remains investing in the stock market, where gains have a reasonable expectation of keeping pace.

5. We ignore history

Many millennials, myself included, tend to panic when we hear news stories of the stock market rising and falling at breakneck speeds. Indeed, current fluctuations in the Dow tempt many of us to pull out of riskier investments in exchange for less risky vehicles such as bonds.

Savvy millennials, though, resist the temptation to abandon ship.

Historically, investments in the stock market pay off over the long term. Market ups and downs tend to balance out over time.

Despite saving more than ever, we millennials need to educate ourselves about the importance of building a diversified investment portfolio.

Being willing to take greater risks while we're young will lead to a wealthier, more financially free retirement down the line. We millennials must learn to make our money work for us!

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