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February 16, 2021

Is Law School Worth the Cost in 2021?

Law has been among the most popular academic disciplines for years. It allows graduates to get a prestigious and rewarding job. Yet, attending law school is a huge investment of time and money. Is it still worth the cost in 2021? Let’s consider several aspects that will help you decide.

Debt-to-Income Ratio

Tuition costs at law schools are not cheap. The average tuition at a US public school is almost $30,000. Being a student at a private law school will cost you even more. Also, students have to cover living expenses. Unless they use a paper writing service, workload and busy schedules rarely allow students to have jobs when still at law school. As a result, they graduate having huge debts. According to the National Center for Education Statistics, the average student loan debt is $145,500.

As for salaries, having a law degree does not guarantee you huge paychecks right away. It may take some time to get the desired job. In 2019, the average annual salary in the legal sector was $109,630. Some fields of law, such as corporate, health, intellectual property, and academia, may potentially bring you a higher income. You can also expect to earn more in the private sector. Money is one of the significant factors that determine student satisfaction, but it is not the only one. There are plenty of non-financial reasons to apply to law school.

Non-Financial Advantages

Law school opens you a way to a broad and interesting discipline. It offers a variety of opportunities and challenges that stimulate you to think and grow. You face moral and ethical issues that give you a better understanding of human behavior and the ability to empathize. Besides, it is a fast-growing field that makes you a lifelong learner. You get to discover new trends, ideas, innovations, rules, and regulations. Besides, lawyers develop creativity and problem-solving skills. These are the essential abilities that are useful even outside your professional practice.

Providing legal assistance can also be emotionally rewarding. You have an opportunity to promote justice and human rights. It is a great source of inspiration and fulfillment. You can make our society better. Depending on your specialty, you can support the implementation of environmental protection initiatives, fight discrimination, prevent unfair treatment, or help people to protect themselves, their data, and property.

Individuals and organizations will always need legal assistance. You can work in different industries and enjoy a multitude of career options. Therefore, a law degree offers you security and a stable income.

Some More Things to Consider

If you think about attending law school, you need to consider several factors that are likely to influence your success. These are:

  • school reputation
  • your academic performance
  • your specialty
  • your goals and priorities
  • your networking contact list

Each of these factors impacts your employability. If you graduate from a reputable school with the right set of skills and knowledge, you get more chances to land a prestigious and well-paid job. In school, try to put yourself out there by visiting events and joining student organizations. It may help you find potential employers. You should also carefully choose your specialty.

Here are some of the legal fields that will be in high demand in 2021.

Privacy and Cybersecurity Law

Privacy and Cybersecurity law will be marketable over the next 10 years. It is concerned with the evaluation, management, and mitigation of data protection issues. It is a growing area where you can work as a litigator or advisor. You will need to have IT training and be knowledgeable about regulations in the industry as well as cutting-edge technology.

Environmental Law

Environmental conservation and protection need to be empowered by law. Lawyers help organizations, government agencies, and individuals to comply with the law and minimize their impact on the planet.

Healthcare Law

Healthcare is a huge legal practice area. Due to the COVID-19 pandemic and increased emergencies, there is a growing demand for healthcare attorneys. The field offers a wide range of opportunities for legal professionals.

Corporate Law

Today, the amount of cases for corporate lawyers has increased by a quarter as a result of global challenges caused by the coronavirus. Legal professionals in this area deal with contracts, compliance, and liability, helping clients to tackle their issues.

Intellectual Property Law

All companies need to manage intellectual property issues. They necessitate legal assistance with patents, intellectual property rights, trademarks, etc. Therefore, talented lawyers are always in demand in this field.

Criminal Law 

In this area, lawyers handle diverse cases. According to the projections of the U.S. Bureau of Labor Statistics, the demand for criminal lawyers will experience an 8% increase. However, it is one of the most challenging specialties that entail a tense work environment and long, irregular hours.

A Concluding Thought

Law, as well as numerous other sectors, experience major changes caused by growing demands of society, technology, and global challenges. Is a law degree worth a try? The answer to this question would depend on your personal preferences and goals. However, one thing is clear. A job in the legal field is fascinating and intellectually stimulating, with a wide range of financial and non-financial rewards.

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