5 Law Degrees that Get You The Most Money After Graduation
By Catherine Conlan
Monster Contributing Writer
According to U.S. News & World Report, the the median private sector starting salaries for lawyers has been falling as average debt loads for law-school graduates have been rising. If you’re thinking about going to law school, you’ll want to consider the debt you’ll be graduating with compared to the salary you’re likely to earn as a lawyer.
U.S. News calculated the schools with the highest salary-to-debt ratio to determine which schools provided the biggest return on students’ investments. Keep in mind that these are median and average numbers, and variables such as scholarships can make a difference in the final numbers. Here’s what they found.
1. University of Texas, Austin
According to the ranking, the median private sector starting salary of 2011 grads was $155,000, and average student debt of 2012 grads was $86,312. The UT law school is considered one of the most selective in the nation. It offers both J.D. and master in law degrees, as well as dual degree programs.
2. University of North Carolina, Chapel Hill
The median private sector starting salary for grads of this school is $117,500, and the average student debt is $74,485. This school is one of the oldest law schools in the U.S. and is considered highly competitive, with only about 15 percent of applicants accepted. It’s often ranked among the top public law schools in the nation.
The median private sector starting salary coming out of the J. Reuben Clark Law School at Brigham Young is much lower -- $84,500 -- but the average student debt is lower as well, at $56,112. This law school was founded in 1973 and is well known for is lower tuition. It offers traditional law degrees as well as joint-degree programs.
The median starting salary for private sector grads is $160,000 and the average student debt is $110,275. The school often ranks comparably with Harvard and Yale’s law schools. Known for its small class sizes, the school is home to the nation’s first Supreme Court litigation clinic. It is considered extremely competitive; its acceptance rate is among the lowest in the nation.
Median starting salary for private sector grads is $160,000 and the average student debt is $110,741. Yale has been ranked the top law school in the nation by U.S. News since the magazine began ranking law schools. Graduates often go on to careers in academia or politics rather than practicing law.
Of course, picking a law school depends on more than post-graduation prospects or potential debt load. You will also want to consider location, specialties, scholarships, internship opportunities and other variables, just as you did when you were picking an undergraduate program. However, salary and debt load are also important considerations, and knowing what your options are will help you pick the program that best fits your needs.