Overall enrollment in law school has plummeted to a 27-year low and enrollment of first-year law students to a 40-year low, according to a report on annual enrollment released in December by the American Bar Association. That’s likely because those considering becoming lawyers know two things: 1) they’ll likely face relatively dismal job prospects upon graduation, and 2) they’ll likely have a ton of debt coming out of law school.
The academic job market isn’t what is used to be: Since 2001, the percentage of Ph.D. graduates who have neither a job nor a postdoctoral position lined up upon graduation has climbed steadily, and now more than one in three recent Ph.D. grads don’t have either.
At one time, being a stockbroker was a genteel and lucrative position, and while it can still be lucrative, few see it as genteel (sorry people, but post-financial-crisis mom’s probably not going to brag to her friends about you being a stockbroker). “It used to a more prestigious job,” says Nicole Williams, founder of career firm WORKS. “Now it’s almost like you have to prove you are ethical.”
While some doctors certainly make bank (for example, the median salary of an orthopedic surgeon is $435,000, according to Salary.com), family practitioners — who are among the lowest paid of all medical specialties — now face similar challenges to what lawyers do.
It used to be that companies and individuals would feel lost without the help of a travel consultant or agent to help them plan their trips, but thanks to the Internet, that’s changed.
Chosen excerpts by Job Market Monitor. Read the whole story at 5 once-prestigious jobs that are now B-List – MarketWatch.