A front page story in today’s Washington Post casts interesting perspective on an Ethics Alarms rumble that broke out here a couple of weeks ago. One of the many websites where underemployed, over-indebted law grads hang out to commiserate—sites with pathetic names like “butidideverythingrightorsoithought”—discovered a post from the days when people were taking Occupy Wall Street seriously, in which I chided a protester whose sign blamed his law school  for his failure to  find a job, without giving due weight to the fact that sitting in a park whining about his plight wasn’t doing him any good either. Suddenly Ethics Alarms experienced an avalanche of indignant and often personally insulting comments introducing me to the strange world of the JD conspiracy theorists, who maintain that law schools engaged in an intentional conspiracy or “scam” to gull naive college grads into believing that a law degree was a sure-thing ticket to Easy Street and six-figure starting salaries.

In the Post’s report, we learn that other advanced degree-holders, namely PhDs in scientific fields, are also unable to find work or toiling in fields unrelated to their degrees. The Post says:

“Traditional academic jobs are scarcer than ever. Once a primary career path, only 14 percent of those with a PhD in biology and the life sciences now land a coveted academic position within five years, according to a 2009 NSF survey. That figure has been steadily declining since the 1970s, said Paula Stephan, an economist at Georgia State University who studies the scientific workforce. The reason: The supply of scientists has grown far faster than the number of academic positions.”

Sounds a lot like the legal market to me! Continue reading →