Too bad for folks who want to join Big Law ... but ... .

A law degree isn't necessarily a license to print money these days, so says Amir Efrati in his Wall Street Journal article, which appeared on Page A1 in the September 24, 2007 edition.

Hard Case: Job Market Wanes for U.S. Lawyers;Growth of Legal Sector Lags Broader Economy; Law Schools Proliferate

For graduates of elite law schools, prospects have never been better. Big law firms this year boosted their starting salaries to as high as $160,000. But the majority of law-school graduates are suffering from a supply-and-demand imbalance that's suppressing pay and job growth. The result: Graduates who don't score at the top of their class are struggling to find well-paying jobs to make payments on law-school debts that can exceed $100,000. Some are taking temporary contract work, reviewing documents for as little as $20 an hour, without benefits. And many are blaming their law schools for failing to warn them about the dark side of the job market.

Click here to read the article.

Too bad for folks who want to join Big Law.

Good News for ambitious solo-self-starters.

I disagree. A new law degree isn't necessarily a license to print money these days.

But if you are fortunate to have a few spectacle of dust on the degree . . . it could be a very different story.

http://online.wsj.com/article_email/article_print/SB119040786780835602-lMyQjAxMDE3OTIwODQyMDg3Wj.html

Hat tip and thank you to Gary Roehm, JD, who emailed this story to me.