so i\'ll have a law degree soon...
 

not really soon...more like 2.5 years.

i played poker professionally for about 18 months, but due to boredom, a desire for intellectual stimulation, and societal pressure i decided to enter law school. i am currently attending a top 25 law school in the northeast. i really like it so far. i have always enjoyed intellectual challenges/pursuits and i get plenty of that in law school.

the only problem is that i don't see myself practicing. the main reason for this is that the potential income to be earned is actually not very appealing - at least not for someone who played poker professionally. indeed, what i made in the last 6 months from poker is much more than even a seasoned lawyer at a large firm makes in a year.

secondly, practicing entails long hours of often tedious work.

so getting to my question finally: what is the best way to utilize a law degree if one doesn't want to practice? especially if one has approximately $200k in capital saved with very little expenses?

just looking to have some ideas thrown around/engage in a dialogue. i'd appreciate any insight.

Re: so i\'ll have a law degree soon...
 

I hear from many varied sources that law school is pretty much only good for being a lawyer. Unless you're really energized by the prospect of studying and practicing the law, I would suggest, based on my observations of other unmotivated students at non top 10 schools, that you take dropping out into serious consideration. As I understand it, job prospects are horrible for most law students in the event you change your mind.

Re: so i\'ll have a law degree soon...
 

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I hear from many varied sources that law school is pretty much only good for being a lawyer. Unless you're really energized by the prospect of studying and practicing the law, I would suggest, based on my observations of other unmotivated students at non top 10 schools, that you take dropping out into serious consideration. As I understand it, job prospects are horrible for most law students in the event you change your mind.

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yeah. dropping out is a very real option at this point. basically the only reason i wouldn't is because i would feel like i failed.

Re: so i\'ll have a law degree soon...
 

Im no expert, but I dont imagine there are many careers that have entry level salaries in the 150k+ range (obv if you start to look at 10+ years out, the number goes up)

but, arent you pretty limited to some sort of a career in finance? (excluding entrep. type jobs)

Re: so i\'ll have a law degree soon...
 

[ QUOTE ]
I hear from many varied sources that law school is pretty much only good for being a lawyer. Unless you're really energized by the prospect of studying and practicing the law, I would suggest, based on my observations of other unmotivated students at non top 10 schools, that you take dropping out into serious consideration. As I understand it, job prospects are horrible for most law students in the event you change your mind.

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Are you sure? I'm fairly certain the opposite is true, especially if you're from a top-rated school. Remember the burnout rate for new lawyers (at least at top firms) is very high. Those lawyers certainly go on and do something worthwhile.

Re: so i\'ll have a law degree soon...
 

Flashback to 1999 and I'm basically in the same situation as OP. I could take an articling position at a Bay St firm or keep doing the sports betting / poker. Given I had already summered at a firm 2nd year I knew I did not like law. The practise of law represented 70-90 hour week for a tiny fraction of my income as a law student / gambler. The decision was easy I stayed in school accumulating more degrees I'd never use.

My advise would be finish the law degree. I have found it useful in that it gives me a certain level of credibility. Saying "I went to law school but now I bet on sports / play poker for a living" just seems to go over much better than just "I bet on sports / play poker". Mind you that was 99 and poker has gained a lot of legitimacy since then.

You are in first year now. I'd try to get good enough grades that you would get a summer position after 2nd year. That way you have your own first hand impression of what working in a major firm is like. That way you can make an informed decision at the end of year 3.

Other things that I'd take into consideration is the fact that 18 months is not a long time. I'd research how hard it would be and what you'd have to do to return to the practise of law should poker not work out for you. It might be very hard to impossible to get into a major firm after an absence.

Re: so i\'ll have a law degree soon...
 

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Are you sure? I'm fairly certain the opposite is true, especially if you're from a top-rated school. Remember the burnout rate for new lawyers (at least at top firms) is very high. Those lawyers certainly go on and do something worthwhile.

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I can't speak for the US but in Canada if you don't get an articling position at one of the seven sisters (the biggest firms) you'll never get a job at one of them.

I was the silver medallist at my law school plus I have a pile of other degrees and plenty of contacts who would lobby for me and I still would estimate my chances at 25-30% of getting into a major firm after nor working for 8 years.

Re: so i\'ll have a law degree soon...
 

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secondly, practicing entails long hours of often tedious work.


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This may be the most insight ever shown by a law student.

Re: so i\'ll have a law degree soon...
 

[ QUOTE ]
Flashback to 1999 and I'm basically in the same situation as OP. I could take an articling position at a Bay St firm or keep doing the sports betting / poker. Given I had already summered at a firm 2nd year I knew I did not like law. The practise of law represented 70-90 hour week for a tiny fraction of my income as a law student / gambler. The decision was easy I stayed in school accumulating more degrees I'd never use.

My advise would be finish the law degree. I have found it useful in that it gives me a certain level of credibility. Saying "I went to law school but now I bet on sports / play poker for a living" just seems to go over much better than just "I bet on sports / play poker". Mind you that was 99 and poker has gained a lot of legitimacy since then.

You are in first year now. I'd try to get good enough grades that you would get a summer position after 2nd year. That way you have your own first hand impression of what working in a major firm is like. That way you can make an informed decision at the end of year 3.

Other things that I'd take into consideration is the fact that 18 months is not a long time. I'd research how hard it would be and what you'd have to do to return to the practise of law should poker not work out for you. It might be very hard to impossible to get into a major firm after an absence.

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great advice. thanks.

also, 18 months may not sound like alot but i still have 600k hands that say i poker will "work out for me" should i decide to go back to it. that is what is making the decision so hard...i wish i never played a hand of poker in my life.

Post deleted by Mat Sklansky