Young alums wary of entering law school

Bargueno’s decision is one that other recent graduates may be making as the nation struggles to emerge from the economic downturn. According to an article in The New York Times, many law firms have slowed or frozen hiring this year. The Times reported that interviews from law firms are down by a third to a half at the law schools of New York University, Georgetown and Northwestern.

With post-law school job security uncertain, taking out loans for law school may not look so appealing. “Law school is a big investment of both time and money,” explained Easton Chen ’09, who is currently working as a paralegal in New York and weighing career options.

Chen said he is also considering working in finance, a sector that has been hurt by the downturn as well. A significant difference between law and finance, he noted, is that one does not need to assume a lot of debt to enter the latter profession.

“[Cost] is definitely something that is weighing on my decision,” Chen said.

If he had not been offered free tuition at Yale through a fellowship, Bargueno said he would likely have accepted an internship offer from the U.S. Department of Justice.

“I figured, well, if I would get paid to go to school, why not?” Bargueno said, adding that he had greatly missed studying Africa, a topic he focused on as an undergraduate in the Wilson School.

Bargueno explained that departmental funding is usually available for graduate students who pursue Ph.D.s, while those pursuing terminal master’s degrees may receive fellowships. Tuition breaks may be few and far between, however, for those attending professional schools.

Michelle Chen ’09, who said she is applying to law school and will take the LSATs this Saturday, is considering going into public service after graduation rather than seeking employment at a big law firm.

“Top law schools have loan forgiveness programs and will help you forgive loans if you want to do government work,” she said.

While private firms may offer more pay, going into the public sector can mitigate the risk of assuming debt.

“With the big firms there is a huge difference in salary — I think a starting salary can be 120 grand out of a good law school,” Chen said, adding that “public service is more flexible in a way” because of job security and loan forgiveness.

Besides the public sector, corporate law is another area that tends to see business in a rocky economy. “In corporate law in a recession, you see a lot of distressed debt and deal with bankruptcy law,” Easton Chen explained. “Additionally, banks and hedge funds are still in existence, so there’s always a need for legal assistance.”

Chen added that the legal profession in general had a built-in “sense of adaptability.”

“When things are bad there is a lot of restructuring of debt; when things are good, there are mergers,” he said.

While the current state of the economy may be dissuading applicants now, Chen said he was confident prospects would improve by the time he graduated law school.

“I do not know if this economic downturn will affect job prospects in the future, especially considering that if I went to law school, I’ll graduate in three years,” he said.

Margaret Dunlay ’09, who is also in the process of applying to law school, said “the current state of the economy does make [her] a little nervous about job prospects,” but she added that she also thought “the economy will improve by then.”

The belief that the economy will improve “seems to be the general sentiment among people who are applying right now,” Dunlay said.

Debt or no debt, Michelle Chen said that she is committed to receiving good legal training now, come what may after graduation.

“I’ve kind of already committed myself to take out a big loan for law school, though I’ll be comparing financial aid packages,” Chen said. “I want to get the best education that I can, so I won’t mind taking out the loan.”

Office of Career Services Director Beverly Hamilton-Chandler said in an e-mail that “students are not considering employment options when they are planning for law school admission,” but rather are “focused on the prospect of learning about the law.”

Still, Career Services does “offer counseling to alumni who have graduated from a variety of graduate and professional schools,” she added.

Those most affected by the downturn may be the alumni who are in law school and have already assumed a significant amount of debt. 

For those who are looking for a job in the legal sector, Easton Chen recommended searching for alumni working in law on the TigerNet website and contacting as many as possible. TigerNet, he said, is “probably the best resource that any graduated Princeton student has in terms of finding a job and making connections.”