Unprofitable businesses (startups) don't even pay their employees that much. The established/big players pay higher salaries and do not depend on much credit at all.
Unprofitable businesses (startups) don't even pay their employees that much. The established/big players pay higher salaries and do not depend on much credit at all.
Doctors are a different ball of wax. They require effectively PhD-level education plus a seriously underpaid multi-year residency before they can actually practice. They also have debt loads that make law degrees look cheap.
[1] Search "lawyer salary" and "software engineer salary"
[2] http://money.cnn.com/2014/07/15/pf/jobs/lawyer-salaries/
Lawschool is a strange thing somewhere between a gradschool and a doctorate. It's a professional school that, like med school, isn't directly comparable to other degree programs.
A law degree is an almost entirely coursework based degree with no dissertation. Attrition rates at elite law schools are vanishingly low (like, less than a half of a percent, whereas PhDs are as high as 50%, 100 times higher). Undergraduate majors prior to law school tend to be the easier ones.
They're smart and hard working students, but no, I wouldn't consider a law degree to be a "doctoral" level accomplishment by any external standard. Personally, I think that simply majoring in CS or other rigorous undergraduate majors represents a greater academic accomplishment than Poly Sci or Lit + Law School.
Think of it this way - to me, a law degree is like running for 70 minutes at an 8 minute mile pace. Not bad, you're certainly fit. Majoring in CS at a tough program is like running a 6 minute mile for 40 minutes. You aren't running as long, or even as far, but the athletic challenge is greater.
Btw, big players are also dependent on a ZIRP, which goes beyond simply 'more credit'.