Is Law School a Losing Game?

I am not sure if you have read the David Segal, January 8, 2011 article in The New York Times but it is an interesting read.  The article explains that law schools are painting a rosy and upbeat picture for new graduates regarding their potential for hire.  Think about the picture that some law schools are painting. You wouldn’t mind paying the high tuition fees if you were going to get a high paying job. However, “Enron-type of accounting standards have become the norm,” says William Henderson of Indiana University, who as the article explains is one of many exasperated law professors who are asking the American Bar Association to overhaul the way law schools assess themselves.  And listen to this fact, according to the article, a law grad, counts as “employed after nine months” even if he or she has a job that doesn’t require a law degree.   The article states that if you are waiting tables at Applebee’s, you are employed.  David Segal paints a picture of law schools being cash cows for their universities with low overhead and high professor to student ratios.  The sad fact is that if you want to become a lawyer, going to law school is the ticket that you have to buy to ride the ride.