Wednesday, July 17, 2013
A law professor from Seton Hall and a business professor from Rutgers have teamed up to publish a study showing that over a lifetime, the mean, pre-tax value added of a law degree is about $1 million. The study found that even for lower ranked law schools, the economic value of a law degree still justifies the decision to enroll. Inside Higher Ed has a good summary of the study here including some commentary from Kyle McEntee of the Law School Transparency Project and Professor Brian Tamanaha who says the study is flawed because it doesn't compare lifetime earnings for those who go to top ranked schools versus lower ranked ones but instead "blends the winners and losers" to come up with the $1,000,000 figure. Over at Above the Law, Elie Mystal has his own take on the study's conclusions.