Amsterdam Law Forum (Jul 2010)
The Curse of the Golden Handcuffs: The Case for Reform In Tuition And Licensing Requirements for Lawyers in the US
Abstract
This article discusses the shortfalls of pursuing a law degree (and, subsequently, a license to practice law) in the United States. While “golden handcuffs” generally refer to the policy of providing high pay and incentives to employees in order to deter them from leaving a company, this article submits that law school graduates face another kind of golden handcuff – investing time and money to complete the seemingly prestigious Juris Doctor degree only to be placed in the unfortunate position of not having many options to recoup the investment in the current economic crisis, or, for those fortunate enough to land a high-paying position, being shackled to the job for 80 plus hours a week for years at a time.
