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<p>What about them? In 2009 - an entire year after the largest crash since the Depression - IB’s actually paid record bonuses. Yes, that’s right - record bonuses: higher than even the monster year of 2007. </p>
<p>[Wall</a> Street’s Record Bonuses Will Be Bigger Than They Appear - Daniel Indiviglio - Business - The Atlantic](<a href=“Wall Street's Record Bonuses Will Be Bigger Than They Appear - The Atlantic”>Wall Street's Record Bonuses Will Be Bigger Than They Appear - The Atlantic)</p>
<p>Even in 2010, while IB bonuses did decline, they nevertheless remained at eye-popping levels. Furthermore, most prognosticators were predicting a strong financial recovery during 2010-2011, as nobody predicted how anemic the economy would remain in 2011. </p>
<p>Hence, I would argue that it was still economically rational for people to attend law school during 2009 or 2010, especially given their shrunken options in the rest of the economy. </p>
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<p>Which therefore seems to point to another strategy - attend law school for the first year, and then interview. If you don’t find something to your liking because of the poor economy, then withdraw from law school, and return when the economy is better. Granted, you will be carrying a year’s worth of law school debt, but hey, that’s better than carrying 3 years of debt. And your seat in the law school will be secured. </p>
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<p>The same analysis applies in the comparison of T6 vs. non-T6 or T14 vs. non-T14 law school (or wherever the ‘discontinuity’ lies). Let’s face it - the vast majority of people don’t have the admissions statistics to be assured of admission to a “top” law school, whether defined as T3, T6, or T14. For them, if they can be admitted during a certain admissions cycle, they should lock up their seat.</p>
<p>Now, again, I agree with you that those people who do have such strong statistics to guarantee admission have little to worry about. But they’re only a tiny percentage of people out there.</p>