Job Market Shrinks for Lawyers

Lawyers are entering the work force in record numbers, but demand—and salaries—aren't keeping up. Law schools advertise six-figure starting salaries for grads, but these wages materialize only for those from elite schools or at the top of their class, the Wall Street Journal reports. For the rest, $20-an-hour contract work may be the best they'll get.

Salaries have soared for top-tier lawyers, but for most they've actually dropped. Law schools aren't eager to publish these stats in their brochures, making it harder for grads to swallow when they don't make enough to pay back student loans.  "We may be reaching the end of a golden era for law schools," said one administrator. (More law school stories.)