The American Bar Association blog is reporting a spike in LSAT prep among Princeton students due to the recent financial crisis. While law schools have been tight-lipped with regard to application increases, this is further anecdotal evidence that the expected recession-driven law school bump might be headed toward something historic.
Not only do the typical graduate school temptations come into play (ride out the downturn, increase earning potential), but the erosion of many MBA career prospects has further pushed finance escapees toward J.D. pursuits. As the ABA post notes, many Princeton students (and, presumably, students across the country) who were destined for careers in finance are now racing to take the LSAT and ready their law school applications.
The flip side of all this is that legal careers are also being impacted by the financial crisis, which is putting evermore pressure on students to get into elite programs. (This is where I’ll note that Veritas Prep’s law school admissions consulting is a great option for law school applicants who seek to work with experts from specific programs, providing the kind of insight to navigate the current application frenzy.)