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The average annual salary for the 150 top-earning law schools in the nation is $65,330 four years post-graduation, and the Bureau of Labor Statistics reports the average law school student debt is $108,000, which takes around 20–25 years to repay.
Compiling data from the American Bar Association (ABA) and the College Scorecard database, Florida personal injury lawyers Anidjar & Levine conducted a nationwide study to determine which law school alumni earn the highest salaries two and four years after graduation.
Exploring and comparing the costs versus the expected income for various industries can be crucial when choosing what to study in college. Law school requires a substantial investment before earnings outpace the incurred debt of a legal education. Many financial experts advise not taking on more student debt than the proposed profession’s starting salary to ensure the means to manage other life priorities, such as buying a home, without undue hardship.
Exploring America’s Law Schools With the Highest Alumni Earnings
Numerous careers offer opportunities for high salaries. For example, certain positions in the real estate industry are considered top-paying occupations. However, those jobs—and most at that salary level—require substantial investment in education.
By utilizing a variety of factors, including average annual wage at two and four years post-graduation and median debt, the study determined the top 10 law schools in America with the highest alumni earnings.
No one can deny that being a lawyer is a lucrative career in the long term. However, if the goal is to become a millionaire and establish long-term financial security, a solid understanding of the cost of education—and the expected benefits—can help when planning for the future.
1. Cornell Law School, Ithaca, NY
Alumni Average Annual Wage
- Two Years Post-Graduation: $172,867
- Four Years Post-Graduation: $249,283
- Median Debt: $162,830
Graduates from Cornell Law School at Cornell University earn the most after graduation at the two-year and four-year post-graduation milestones, with a difference of more than $40,000 over the other schools in both categories. Alums can expect their income to outpace their student debt as soon as two years after graduation, with their Cornell Law School education providing a rapid return on investment.
2. Yale Law School, New Haven, CT
Alumni Average Annual Wage
- Two Years Post-Graduation: $132,032
- Four Years Post-Graduation: $204,668
- Median Debt: $143,437
The second spot on the list goes to Yale University, the second of only three schools that can boast alumni salaries of over $200,000 after four years. Yale graduates can expect a healthy income at both milestones in the study, with substantial potential for growth from one mark to the next.
3. Duke University School of Law, Durham, NC
Alumni Average Annual Wage
- Two Years Post-Graduation: $168, 098
- Four Years Post-Graduation: $202,454
- Median Debt: $138,376
In the third position is Duke University School of Law, with the list’s final four-year salary of over $200,000. While Yale graduates may earn slightly more at the four-year mark than Duke alums, they should make roughly $36,000 more two years after graduation with substantial room for growth. A degree from Duke University School of Law also costs substantially less, with alumni earning more than the total cost of their education by the two-year mark.
4. NYU School of Law, New York, NY
Alumni Average Annual Wage
- Two Years Post-Graduation: $137,921
- Four Years Post-Graduation: $183,529
- Median Debt: $172,122
Alumni from NYU School of Law can expect to earn well over $100,000 annually two years after graduation, with significant potential for growth of at least another $50,000 per year by the time they reach the four-year milestone.
5. Georgetown Law School, Washington, D.C.
Alumni Average Annual Wage
- Two Years Post-Graduation: $118,650
- Four Years Post-Graduation: $142,966
- Median Debt: $172,012
Georgetown Law School takes the fifth spot on the list and is one of the last with a two-year salary of over $100,000. The median debt should be considered when weighing the pros and cons, as alums may not earn an annual salary higher than the cost of their education two or four years after graduation.
6. Santa Clara University School of Law, Santa Clara, CA
Alumni Average Annual Wage
- Two Years Post-Graduation: $86,424
- Four Years Post-Graduation: $128,612
- Median Debt: $181,198
Graduates from Santa Clara University can expect opportunities for drastic salary growth from two to four years after finishing law school. However, the two-year salary for Santa Clara alumni is the lowest on the list.
7. University of Florida Fredric G. Levin College of Law, Gainesville, FL
Alumni Average Annual Wage
- Two Years Post-Graduation: $96, 183
- Four Years Post-Graduation: $125,265
- Median Debt: $77,724
With the lowest median debt among the top schools by tens of thousands of dollars, the Fredric G. Levin College of Law at University of Florida takes the seventh spot. Graduates earn nearly $20,000 more than the total cost of their education by the time they reach two years after graduation, with opportunities for drastic growth over the following two years.
8. Boston University School of Law, Boston, MA
Alumni Average Annual Wage
- Two Years Post-Graduation: $96,829
- Four Years Post-Graduation: $118,134
- Median Debt: $112,443
Graduates from the Boston University School of Law can expect a salary of nearly $100,000 two years after completing law school, though they may see little growth by the time they reach the four-year milestone. However, their annual salary should outpace the cost of their education by that point.
9. Seton Hall School of Law, Newark, NJ
Alumni Average Annual Wage
- Two Years Post-Graduation: $101,406
- Four Years Post-Graduation: $115,233
- Median Debt: $123,479
Seton Hall University School of Law alums can expect to earn the ninth-highest wages among graduates four years after completing their degree and passing the bar. At four years post-graduation, alumni from this institution earn 76% above the average for America’s top 150 law schools. Seton Hall law school alums also earn the sixth-highest annual salary two years after graduating.
10. Loyola University School of Law, Chicago, IL
Alumni Average Annual Wage
- Two Years Post-Graduation: $97,071
- Four Years Post-Graduation: $110,658
- Median Debt: $114,856
The last spot on the list goes to the Loyola University School of Law in Chicago. Alumni can expect an annual salary of nearly $100,000 by the time they have been working for two years, and they will likely see some growth over the subsequent two years and cross the six-figure threshold.
Education has always been a pathway for personal and professional growth. Those seeking a future position as a practicing attorney may find it useful to thoroughly understand the costs and expected earnings of their desired career path so they can evaluate which institution is the best fit.
This article was produced by Financially Well Off and syndicated by Wealth of Geeks.
