It’s no secret that attending law school can be a costly decision. Since the advent of the recession, would-be students are carefully considering this choice, as evidenced by the continued drop in Law School applicants.
According to Law School Transparency, the following graph reflects the current state of applicants to ABA-accredited schools, with 2013-2104 off to a similar start with an average of 7.9% fewer LSAT’s taken.
With the aforementioned data in mind, the following illustrates a few bright spots for attorneys of the future, with particular emphasis on: smaller law school applicant pools equating to ease of law school entry, increases in big firm hiring and globalization.
1) Fewer Applicants = Bigger Opportunities: With the above graph data in mind, the good news with the applicant slump means more opportunities for students to attend schools that may have been previously out of reach, while also opening the door for more financial aid bargaining power due to the decrease in students applying for the same.
2) Big Firm Hiring: According to U.S. News and World Report, while many firms remain flat with current hiring trends, big law firms have been steadily buckling the trends—increasing since 2009—creating a few opportunities for qualified graduates.
3) Globalization: International law shows continued signs of growth, with skills relating to international business and globalization being in high-demand, as emphasized by growth in overseas trade.
Source: U.S. News and World Report
Source: Law School Transparency