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A new report released by the National Association for Law Placement (NALP) and the NALP Foundation sheds light on the job satisfaction and debt-related challenges faced by the Class of 2019 law graduates. The study, named the “Study of Law School Alumni Employment & Satisfaction,” gathered data from 1,927 law graduates who completed their studies at 42 U.S. law schools in 2019. The report highlights the positive trend in job satisfaction but also delves into the significant impact of student debt on their career and life choices.
The report revealed a notable increase in job satisfaction among the Class of 2019 law graduates compared to the previous year. Forty-seven percent of respondents expressed being “extremely satisfied” with their current job, up from 42% of the Class of 2018 graduates surveyed a year earlier. An additional 38% of the Class of 2019 law grads reported being “somewhat satisfied” with their employment.
One striking finding was the historically low job-seeking rate among the Class of 2019 law graduates. Only 13% of respondents were actively looking for new job opportunities, indicating a high level of contentment with their current positions. This low rate could be attributed to the majority of graduates (71%) having held two or more sequential positions since graduation.
Among the law graduates who changed jobs, 62% cited “better compensation/bonuses” as the main reason for transitioning to a new role. Additionally, 42% mentioned “attitude ‘fit’ concerns” as a significant factor in their decision to change positions. These findings suggest that financial incentives and alignment with workplace culture play essential roles in job transitions.
Despite the positive outlook on job satisfaction, the study highlights the significant impact of student debt on the lives of Class of 2019 law graduates. The average educational debt among respondents was reported at $105,546, with a median educational debt of $90,000. These substantial debt levels influenced various aspects of the graduates’ lives, including their career choices and personal decisions.
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An unprecedented challenge faced by the Class of 2019 law graduates was the negative impact of the COVID-19 pandemic. According to the report, 39% of respondents reported that the pandemic continued to have adverse effects on their mental health and overall well-being. This percentage represented a notable increase from the prior class’s 31% who reported such impacts.
The study also revealed gender disparities in the effects of the pandemic. An even higher percentage of female respondents (44%) reported a continued negative impact on their mental health and well-being due to the pandemic. This finding raises concerns about the unique challenges faced by women in the legal profession during the pandemic.
The burden of educational debt significantly influenced the life choices of Class of 2019 law graduates. Many respondents reported making decisions to delay major life events such as home buying and starting a family due to their student loan obligations. Additionally, the debt load influenced their sector preferences for employment, potentially limiting options based on financial considerations.
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