When many people think of law degrees, they think of them as almost a magic potion that will allow them to do anything that they want. However, while having a law degree can be a very valuable asset (and obviously necessary in many situations), it’s important to analyze what you truly want before committing to this path. This is especially true in the hard economic times that we are facing. Because most people go into debt to get a law degree, it’s important to calculate the actual value that you are going to derive from getting a law degree.

There are many people who think a law degree will open new doors for them, but then it turns out not to be the case. For example, while the idea of graduating with an MBA and law degree sounds appealing on the surface, many recent graduates have found that this actually doesn’t help them nearly as much as they thought it would when they hit the job hunt path. In fact, one recent graduate said that employers thought she was “confused” because she chose to get this joint degree.

The main potential downside for people who are thinking about a law degree is that if they want a law degree but don’t want to work as a lawyer. Once again, they think that the law degree will give them an edge, but while it does give you the skills necessary to practice law, this doesn’t necessarily translate to anything useful outside of that specific niche.