A group of fresh, unemployed lawyers have banded together to sue law schools. 73 alumni have filed at least fifteen class-action lawsuits, alleging the schools inflated employment figures and salary data to attract students and increase rankings. The real goal of the lawsuits seems to be to effect systemic change in the education industry and associations that accredit law schools, like the American Bar Association.

Schools are in the business of generating alumni, and to a great extent, use as many marketing tricks that any company uses in order to influence public opinion. It’s true that a 90% graduate employment rate looks better than a 75% rate on paper, and I’d be more inclined to choose a school with a higher employment rate, with all other factors being equal. But a 90% graduate employment rate doesn’t guarantee that I would receive the job I want after graduation, even if I were in the top 10% of the class.

Furthermore, I’ve come to the conclusion over the years that any statistic used for marketing purposes is subject to manipulation in an attempt to further the goals of marketing. Hard numbers give the impression of fact. From an early age, we’re trained to believe that one plus one equals two, in all circumstances, and numbers are truth. Statistics can be misleading in many ways, and are used more often to try to convince others of a point of view rather than quantify facts in reality.

The group of lawyers probably can’t prove that the blame for their unemployment situation rests with the law schools. There are many factors that contribute to unemployment, including the overall economy, local job markets, and the effort, skills, and self-marketability of each alumnus. It doesn’t appear as if the former students are suing to have the schools compensate them for the lack of expected income from working, but they are suing to enlighten the public to the issue of misleading statistics throughout the educational industry.

Mutual funds must advertise that “past performance does not guarantee future results.” Even if a graduate employment rate were perfectly measured and accurately reflected exactly what a potential student understood the number to be, a good rate today is no indication that the rate will continue to be high by the time the school awards a degree or certification. If my index mutual fund returned 12% last year and lost 8% this year, I can’t sue the fund manager or the stock market for not providing the dividends I was hoping for. If fraud was involved, it might be a different situation. Perhaps misleading statistics like graduate employment rates are somewhat fraudulent, but I don’t see a parallel as schools do not typically promise that students will be employed at the level they’d like after graduation — and in the case of lawyers, after passing the bar exam.

There might be better ways of raising the issue of misleading statistics in the marketing endeavors in which institutes of education engage. Using the courts to make a point is only one tool that’s available to increase awareness of an issue. When you’re a hammer, though, everything looks like a nail.

Several years ago, while I was completing my Masters in Business Administration degree, I considered attending law school. Ultimately, I decided not to pursue a law degree and to focus my energy on my business instead. I think I made the right decision.

Photo: CubanRefugee
WNYC

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Increasing your human capital is an excellent way to put yourself in a position where you’re better prepared for life’s surprises, particularly when it comes to money. I’ve written about human capital in the past, but I’m taking a deeper look into ten ways you can boost this important aspect of self-worth — beyond the concrete net worth that garners much more attention.

Although I’ve been in a wide variety of leadership roles since I was a teenager, I’m not always at ease in those roles. I prefer not to step on other people’s toes and to let those assigned leadership roles to enjoy those positions without my interference. This isn’t an approach that I recommend. Organizations don’t pick leaders, the best leaders make themselves known outside of any selection process.

More experience in the workplace

In the workplace, I understand the position that one might only want to do what is in their official job description; after all, if more responsibilities are requested, those responsibilities should demand compensation. Going above and beyond the call of duty is an important piece of getting more experience — the right kind of experience that will increase your human capital. In my last organization, many of the rank-and-file workers were interested in nothing other than putting in their time at their desk, and clocking in and out at the expected time every day. Whenever an initiative arose that required work beyond their typical scope, whether in the nature of tasks or requiring a different schedule, there was friction between management and employees.

Those least willing to put in extra effort are the first to encounter difficulty justifying their job or their salary when the company decides to cut back on salary-related expenses. Those who have shown initiative though involvement with the industry outside the company, the company at large, and the business unit, beyond the scope of their job description, are the employees who are given the first opportunities to share in the company’s successes.

You job should not be the only thing that defines you. It bothers me that in social settings, one of the first questions a stranger might ask when meeting is, “What do you do?” When a stranger asks this question, the assumption is that they want to understand what your job is, as if this were the most important thing about you after your name.

While you’re learning

In college, my classmates who took the extra initiative outside of class to gain experience in their fields had a much easier time finding jobs after graduation. They made connections in the industry, and in some communities, already had those making hiring decisions familiar with their names. As a hobbyist photographer considering the possibility of creating an alternative stream of income for myself and my future, I’ve been spending some time doing some pro-bono work for friends as I learn the ropes of the business.

There’s no need to wait until the learning process is over to start gaining experience in a field, even if this is a second or third activity outside of your primary job, and even if this is a field for which you don’t plan to end your learning process with a degree. I subscribe to the belief that a degree does not signal the end of education. Learning is a life-long process, and more education increases your human capital, as well. You can boost your human capital further by allowing yourself to gain experience at the same time you’re learning about the activity or skill.

Build bridges

Looking beyond your job, searching for ways to gain more experience can help increase your value from an employer’s perspective or a client’s perspective. The people I’ve known whom I’ve found the most interesting have found a way to bridge two different areas. For example, those in my college’s Department of Music who found a way to combine their study of music with something else, such as technology, business, or culture, seemed better prepared to stand out in the community. Standing out among a crowd is a big indication of a higher level of human capital.

The ability to be known within the community from bridging doesn’t come from just being interested in intersecting fields of study, it comes from bringing two communities together through action and direct involvement.

Getting more experience often requires stepping outside of your comfort zone. This is not easy for a lot of people, particularly those who draw strength from internal thoughts and feelings rather than external stimuli. (Jungian psychologists often call these people Introverts.) Some who are pressured to seek experience before they believe are ready are often concerned with the world discovering they are “frauds.”

There is little risk, though, so given the potential benefit of increasing your human capital, it makes sense to gain as much experience as possible.

• Go the extra mile at your job or for your client, not only to gain more experience but to show that you are committed to being the best you can be.
• Be a leader in your field by taking leadership roles before they are assigned to you.
• Acquire experience in your field before you’d consider yourself “ready” by professional standards.
• Find connections between your interests and build experience bridging the two.
• Make your name known in your field by getting involved in public.

How do you suggest gaining more experience in your field?

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