Why... I spent 3 years and tens of thousands to increase my earning potential to... $40k/year?!?
Well, yeah, according to an Arizona State University paper:
"Starting salaries for attorneys have declined with firms. The average for a starting attorney used to be between $65,000 and $70,000 annually, with larger companies starting associates at $100,000 ... Now, attorneys will begin at $40,000 in smaller companies and $75,000 in larger firms."
I know this isn't news to those who are reading this blog, but to those who aren't in the know, the TV version of the legal profession and the reality are two very different things. Attorneys are not bringing in shitloads of money just because they are attorneys.
Thank FAFSA, thank Sallie Mae and thank Congress for blowing up the Law School Bubble. Attorney salaries are tumbling, contract attorney rates are falling and tuition is still... going up!
This makes no sense, which is pretty typical for bubbles. But it all is coming to an end. The student loans will default, Sallie Mae will go under. The word about the tanking salaries will get out to prospective Juris Debtors. The TTTs will go under, and the law school scam will be completely exposed in due time.
