Full Citation

Title: Timing Law School

Citation Type: Working Paper

Publication Year: 2015

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Abstract: We investigate whether economic conditions at labor market entry have persistent effects on law graduate earnings. We find that unemployment levels at graduation continue to affect law earnings premiums within 4 years after graduation for earners at the high end and middle of the distribution. However, the effect fades as law graduates gain experience and the impact on lifetime earnings is moderate. Outcomes data available prior to matriculation do not predict unemployment or starting salaries at graduation. Earnings premiums are not predicted by BLS projected job openings. We find little evidence for the predictive power of cohort size. An inverted yield curve does not predict future law earnings premiums. For medium to high earning graduates, successfully timing law school could increase the value of a law degree ex-post, but simulations show that no strategy for ex-ante timing is readily available.

Url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2574587

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Authors: McIntyre, Frank; Simkovic, Michael

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Publication Number: 2015-4

Institution: Harvard Law School

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Publisher Location: Cambridge, MA

Data Collections: IPUMS USA, IPUMS CPS

Topics: Education, Labor Force and Occupational Structure, Methodology and Data Collection

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