Factors Law school will be a costly investment no matter where a prospective law school student decides to go and that cost only goes up when undergraduate costs are added that are not getting paid off while they are at law school. The most important factors for a prospective law school student to consider when applying to law school to determine the quality of the investment in that law school primarily comes down to employment statistics after graduation and the cost of attending said law school. All of these statistics vary greatly as a prospective law school student progresses down the rankings of law schools.
Economic factors Despite the common belief, law school enrollment is very low. In fact, “Law school enrollment is the lowest …show more content…
Both law school ranking and public versus private school play a role in the cost-benefit analysis of law schools as illustrated by a comparison between Harvard University, the second-ranked law school in the country, Georgetown University, the fourteenth-ranked law school in the country, and the University of Michigan-Ann Arbor, ranked eleventh in the country. Harvard has an employment rating of 89.9% for law school graduates and an unemployment rate of 4.3%, Georgetown has ratings of 79.7% and 9.4% respectively, and the University of Michigan-Ann Arbor has a rating of 90.3% and 5.6% respectively. However, when it comes to the rate of graduates in large firms, Harvard, with a rate of 56.7%, significantly outplaces Georgetown and University of Michigan-Ann Arbor with rates of 44.9% and 43.3% respectively. Even Georgetown who is ranked lower than University of Michigan-Ann Arbor, it places graduates in large firms at a higher rate. When it comes to federal clerkships, Harvard, with a rate of 14.5%, again outplaces both Georgetown and University of Michigan-Ann Arbor with rates of 3.5% and 10.5% respectively. But, University of Michigan-Ann Arbor outplaces Georgetown. The biggest distinction between public and private arises in terms of cost of law school. Over the course of law school, both Harvard and Georgetown are expected to cost over $300,000, but University of Michigan-Ann Arbor is expected to cost a resident about $260,000 and a non-resident about $270,000. Higher ranking schools typically offer better, higher-paying jobs, but public law schools will cost significantly less than private law
Economic factors Despite the common belief, law school enrollment is very low. In fact, “Law school enrollment is the lowest …show more content…
Both law school ranking and public versus private school play a role in the cost-benefit analysis of law schools as illustrated by a comparison between Harvard University, the second-ranked law school in the country, Georgetown University, the fourteenth-ranked law school in the country, and the University of Michigan-Ann Arbor, ranked eleventh in the country. Harvard has an employment rating of 89.9% for law school graduates and an unemployment rate of 4.3%, Georgetown has ratings of 79.7% and 9.4% respectively, and the University of Michigan-Ann Arbor has a rating of 90.3% and 5.6% respectively. However, when it comes to the rate of graduates in large firms, Harvard, with a rate of 56.7%, significantly outplaces Georgetown and University of Michigan-Ann Arbor with rates of 44.9% and 43.3% respectively. Even Georgetown who is ranked lower than University of Michigan-Ann Arbor, it places graduates in large firms at a higher rate. When it comes to federal clerkships, Harvard, with a rate of 14.5%, again outplaces both Georgetown and University of Michigan-Ann Arbor with rates of 3.5% and 10.5% respectively. But, University of Michigan-Ann Arbor outplaces Georgetown. The biggest distinction between public and private arises in terms of cost of law school. Over the course of law school, both Harvard and Georgetown are expected to cost over $300,000, but University of Michigan-Ann Arbor is expected to cost a resident about $260,000 and a non-resident about $270,000. Higher ranking schools typically offer better, higher-paying jobs, but public law schools will cost significantly less than private law